In this guide

  • Review
  • Details
    • Product details
  • How does the MoneyPlace secured personal loan work?
  • Eligibility criteria
  • How to apply
  • Features of this loan
  • How much does the MoneyPlace secured personal loan cost?
  • Compare other personal loans
  • Your reviews
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MoneyPlace secured personal loan

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MoneyPlace Secured Personal Loan

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Interest Rate (p.a.)
6.59% to 19.19%
Comp. Rate (p.a.)
6.59% to 20.77%
Min Loan Amount
$5,000

Summary

Borrow up to $80,000 with this non-bank lender. Interest rates are tailored to your credit history and range from 6.59% to 19.19%.

MoneyPlace offers secured personal loans starting from $5,000 up to $80,000. The interest rate is fixed, meaning your repayments will remain the same throughout the lifetime of your loan.

It offers terms of 3, 5 or 7 years. You can receive a rate estimate within 2 minutes without it affecting your credit score. The rates are personalised, depend on your credit history and range from 6.59% to 19.19%. 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 is an establishment fee of 3%–5.50% of the borrowed amount. It is capped at $1,010.

Pros

  • Competitive, tailored rate
  • Receive a rate estimate before applying
  • No monthly or early payout fees

Cons

  • Need to provide security for a lower rate
  • Redraw not available
  • Establishment fee of 3%–5.50% of the loan amount

In this guide

  • Review
  • Details
    • Product details
  • How does the MoneyPlace secured personal loan work?
  • Eligibility criteria
  • How to apply
  • Features of this loan
  • How much does the MoneyPlace secured personal loan cost?
  • Compare other personal loans
  • Your reviews

Details

Product details

Product Name MoneyPlace Secured Personal Loan
Interest Rate (p.a.) 6.59% to 19.19%
Comp. Rate (p.a.) 6.59% to 20.77%
Interest Rate Type Fixed
Min Loan Amount $5,000
Max. Loan Amount $80,000
Loan Security Secured

How does the MoneyPlace secured personal loan work?

When you apply for a MoneyPlace personal loan, you have the option to secure the loan against a vehicle. However, this does not need to be the asset you are purchasing with the loan. You can use the MoneyPlace secured personal loan for any loan purpose.

The interest rate is tailored to your credit worthiness. So although rates start from 6.59%, you could end up paying up to 19.19% with a higher establishment fee.

Eligibility criteria

To apply for a MoneyPlace unsecured personal loan, you must:

  • Be 18 years of age or older
  • Be an Australian citizen or permanent resident
  • Have regular income
  • Not be a couple, company, trust or partnership

How to apply

As MoneyPlace is an online lender, you can apply online in minutes. Simply click the green button to go through to the MoneyPlace website and start entering your details. MoneyPlace will give you a rate estimate before you proceed with the rest of your application.

Features of this loan

  • Tailored rate. MoneyPlace determines your interest rate based on your credit history. A lower borrower risk means a lower interest rate while a higher risk also means a higher interest rate.
  • No early payout fees. You can pay out your loan early without paying additional fees or charges.
  • Flexible loan purpose. Even though you will secure the loan against an asset, the loan does not need to be for that asset. You can use the money for whatever you want.
  • Quick online application. To apply for a MoneyPlace secured personal loan, you can simply fill out an online application form in about 10 minutes.
  • Loan term. MoneyPlace offers loan term options of 3, 5 or 7 years.
  • Loan amount. You can borrow from $5,000 up to $80,000.

How much does the MoneyPlace secured personal loan cost?

CostAmount
Establishment fee3%–5.50%
Dishonour fee$10 per dishonour
Default administration fee$25
PPSR feeup to $60

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1 - 5 of 5
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket Personal Loan - Excellent Credit
ExclusiveFixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
6.57%
to 21.78%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$920.43
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Finder Exclusive: For a limited time only - Apply by December 15th 2023 and if approved, OurMoneyMarket will waive the establishment fee for Excellent Credit Customers.
NOW Finance No Fee Unsecured Personal Loan
Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000
Interest Rate (p.a.)
6.75%
to 26.95%
Comp. Rate (p.a.)
6.75%
to 26.95%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$922.89
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OurMoneyMarket Personal Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
1.50% - 6%
min. $250
Monthly Fee
$0
Monthly Repayment
$934.23
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Harmoney Unsecured Personal Loan
Finder award winnerFixed3 - 7 Years $2,000 - $70,000
Interest Rate (p.a.)
5.76%
to 24.03%
Comp. Rate (p.a.)
6.55%
to 24.98%
Application Fee
$275 - $575
Monthly Fee
$0
Monthly Repayment
$926.83
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Latitude Variable Rate Personal Loan
Variable2 - 7 Years $5,000 - $70,000
Interest Rate (p.a.)
9.49%
to 29.99%
Comp. Rate (p.a.)
10.93%
to 31.83%
Application Fee
$395
Monthly Fee
$13
Monthly Repayment
$986.50
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