MoneyPlace Unsecured Personal Loan
Borrow up to $80,000 with this P2P lender. Interest rates are tailored to your credit history, and range from 5.95% to 26.99% p.a.
MoneyPlace offers unsecured personal loans starting from $5,000 up to $80,000. The interest rate is fixed, meaning that your repayments will remain the same throughout the lifetime of your loan. They offer terms of 3, 5 or 7 years. You can receive a rate estimate within two minutes, without it affecting your credit score. The rates are personalised and depend on your credit history. Rates can range from 5.95% p.a. up to 26.99% p.a. You can expect a low rate if you have excellent credit history, but a higher rate if your credit history isn’t perfect. There is no monthly fee associated with this loan, but there may be an establishment fee of 0% to 5.50% of the borrowed amount. It is capped at $950.
From 5.95% (fixed)
Interest Rate (p.a.)
Comparison Rate (p.a.)
Min Loan Amount
Main points to consider with the MoneyPlace loan
As an unsecured loan, you can use the funds for a range of personal purposes. The interest rate is tailored to your credit history, with rates starting from 5.95% p.a. for those with excellent credit. You can receive a rate estimate before you submit your full application without it affecting your credit score. As MoneyPlace is a marketplace lender, once your loan is approved, your loan will be matched to a private investor in its personal loans marketplace.
Features MoneyPlace offers with this loan
Several key features and benefits come with this loan, including:
- Flexible loan purpose. You can purchase a new or used car, consolidate debt from personal loan or card accounts, pay for a holiday, a wedding or even fund medical expenses.
- Loan amount. You can borrow anywhere between $5,000 and $80,000 with this loan.
- Loan term. Apply for a loan term of either 3, 5 or 7 years.
- Good credit history is rewarded. As the interest rates are tailored, you will receive a lower rate the better your credit history is. Interest rates start at a competitive 5.95% p.a. for borrowers with excellent credit histories.
- Receive a rate estimate. If you’d like a rate estimate without affecting your credit score, you can submit a few details on MoneyPlace’s website and receive an estimate in a few minutes.
- Quick online application. You can apply online in about 10 minutes, and as MoneyPlace is an online-only lender, you won’t have to submit any physical documents.
- No early exit fees. If you want to pay back your loan ahead of schedule, you can do so without penalty.
How you can apply for a MoneyPlace loan
You can easily apply for a rate estimate with MoneyPlace online. First, make sure you meet the eligibility criteria. You must:
- Be over the age of 18
- Be an Australian citizen or permanent resident
- Earn at least $20,000 p.a. (the majority of your income cannot be from Centrelink)
- Be applying as an individual (no joint applications)
- Have an acceptable credit record with no outstanding defaults, court judgements, writs or bankruptcies
- Not currently be in collections for outstanding debt
- If you are self-employed you need to have been trading for at least two years and not be borrowing for business purposes
To receive a rate estimate online, you need to provide the following information:
- Loan purpose. Select from options such as debt consolidation, new or used car purchase or wedding.
- Loan details. You’ll need to select how much you want to borrow and for how long.
- Personal details. Your name, date of birth and marital status.
- Contact information. Provide your email address, home address and mobile number.
- ID. You’ll need your driver’s license number and state.
Once you provide these details, you can receive a rate estimate, which does not affect your credit score. If you’re happy to proceed, you can fill out a complete application with MoneyPlace to have your loan fully approved and submitted to the loan marketplace for funding.
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