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This short-term loan offered by Moneyspot allows customers to borrow a minimum of $2,001 and a maximum of $5,000. Prospective applicants can apply for this loan online 24/7 and customers may be eligible even if they receive government benefits, as long as Centrelink payments are not their primary source of income. The requirements for this loan are straightforward and customers can read more about them below.
$5,000
Maximum loan amount
1 hour
Turnaround time
conditions apply
up to 2 years
Term of loan
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Product Name | Moneyspot Medium Amount Loan |
---|---|
Interest Rate (p.a.) | 48% |
Comparison Rate (p.a.) | 65.5% |
Min Loan Amount | $2,001 |
Max. Loan Amount | $5,000 |
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here: https://www.finder.com.au/coronavirus-financial-help
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
Customers can apply for a loan through Moneyspot with ease and the application process takes five minutes to complete. Applicants can choose the amount that they want and opt for weekly, fortnightly or monthly repayments.
Customers can apply for between $2,001 and $5,000 and once their loan has been approved, the funds can be in their nominated bank account within the hour. Applicants need to provide their bank details and a form of ID, such as a Medicare card or Australian driver’s licence number to apply.
Some of the features customers can expect from a loan from Moneyspot include:
The fees and charges for a short-term loan with Moneyspot are:
If the applicant fails to make a repayment on time, late fees that might be charged include:
Successful applicants will incur the direct debit dishonour fee if Moneyspot tries to take out the monthly amount and are unable to due to insufficient funds. The collection fee will be charged if a loan needs to be sent to an external agency after lack of payments.
To apply for the loan, people must meet the following eligibility requirements:
To apply for this loan, applicants wll need: