MoneyStart Cash Loan
MoneyStart previously offered loans up to $5,000.
- Important information
This lender is not currently accepting new applications. If you have an active MoneyStart account and need access to your statements or account information, you can set up an online Wallet Wizard account to link your MoneyStart account. Just head over to Wallet Wizard's website to do so.
MoneyStart offered loans between $3,000 and $5,000 with loan terms of 2-3 Years. Their turnaround times are quick, and you could receive the funds within 24 hours of approved. You can choose to repay your loan weekly, fortnightly or monthly. The annual percentage rate of the loan is 36%, with an application fee of $45. There are also several ongoing fees, including a weekly fee of $1.15, a fortnightly fee of $2.28 and a monthly fee of $4.95.
Maximum loan amount
Term of loan
|Product Name||MoneyStart Cash Loan|
|Minimum loan amount||$3,000|
|Maximum loan amount||$5,000|
|Loan term||2-3 Years|
|Turnaround time||24 Hours|
|Requirements||Over 18, Employed & earning min $20k p.a.|
|Available to Centrelink Borrowers?||No|
Are you struggling financially?
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
⚠️ Warning about Borrowing
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:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
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.
Alternatives to MoneyStart Loan
This loan is no longer available, so you can compare other options below:
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
- Loan amount. MoneyStart offered loans between $3,000 and $5,000.
- Loan terms. Loan periods varied between 24 months or 36 months.
- Repayment terms. Customers could choose from weekly, fortnightly or monthly repayments.
- Turnaround time. Once unconditionally approved, customers could expect to receive your loan amount within 24 Hours.
How much did a MoneyStart loan cost?
The fees depended on the loan amount and the length of repayment terms. MoneyStart charged a $45 application fee with all of their loans and an annual percentage rate of 36%. There following ongoing fees also applied:
- Weekly fee: $1.15
- Fortnightly fee: $2.28
- Monthly fee: $4.95
Are you eligible for a MoneyStart loan?
- Be employed
- Earn over $20,000 p.a.
- Have more than 50% of your income earned through employment
- be a permanent Australian resident
How to apply
If you're interested in applying for a loan with MoneyStart, click "Go to Site" to get the online application process started. Once there, you'll need to choose your loan details and terms and also submit your banking details. Then, the following process will take place:
- Receive your contracts. After you fill out your application you'll receive your loan contract. This contract is an offer to MoneyStart to borrow money.
- Response following application. A few seconds after you submit your application you'll be notified of the outcome. You'll either be conditionally approved or your application will be pending a review. You can check your phone and email for updates on the status of your application.
- Approval. If your loan has been unconditionally approved, you'll receive your loan amount within 24 hours. If your application has been conditionally approved, you'll be advised if further information is required. If your application is pending review, a member of MoneyStart's customer service department will be in touch to discuss your application.
What you need to provide
- The purpose of your loan
- Income details (after tax)
- Details of your Government benefits (if applicable)
- Information regarding your expenses
- Personal details including your residency, marital status and age
MoneyStart offers a convenient loan offering, but as there are others to consider, make sure you compare all of your loan options, make sure you do so before you apply.