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Monzi is an Australian 100% online finance broker offering fast turnaround loans from $300-$10,000.
Monzi is partnered with hundreds of licensed credit providers. So, although applying through Monzi only requires a single application, applicants could be matched with any one of these numerous lending partners. This may mean an increased chance of approval.
Because Monzi works with payday loan providers, bad credit applicants and people on Centrelink may still have their applications considered.
$10,000
Maximum loan amount
12 to 24 Months
Term of loan
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Product Name | Monzi Personal Loans |
---|---|
Minimum loan amount | $300 |
Maximum loan amount | $10,000 |
Initial Maximium Loan Amount | $300 |
Loan term | 12 to 24 Months |
Requirements | 18 years old or over, An Australian citizen or permanent resident, Receiving a regular income or Centrelink payments. |
Available to Centrelink Borrowers? | Yes |
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.
Monzi is a finance broker, not a lender – it matches borrowers looking for loans with suitable lenders via its platform. Applicants need to fill out only a single application to be potentially partnered with one of hundreds of lenders. Once an applicant has been successfully partnered with a lender, additional information may be required. A successful applicant is under no obligation to accept the loan contract terms of a lender, and Monzi charges no fees for its services.
Monzi helps loan customers find both secured and unsecured personal loans from anywhere between $300 and $10,000. Bad credit applicants and applicants who receive Centrelink benefits are also considered.
Monzi has a quick turnaround time, with most applicants finding out whether or not they have been approved within a matter of minutes. Approved applicants could find the money in their account the same or next business day.
The following features apply to Monzi loans:
Because Monzi is a free-to-use platform that works with a variety of lenders, fees and charges may vary slightly from lender to lender. Costs will also vary depending on the circumstances of the applicant and the amount of money they wish to borrow. That being said, borrowers can expect to pay the following on these loans:
Though no interest rate applies to these loans, additional fees such as default and late payment fees may also apply.
Additional fees and charges, such as late payment and default fees, may also apply.
Additional fees and charges, such as late payment and default fees, may also apply.
In order to qualify for a loan through Monzi, applicants must be:
To apply for a loan through Monzi, simply click "Go to site" to submit an application. Borrowers don't need anything other than a few personal details including:
Successful applicants will be required to supply additional information, including:
Please note that there are a number of similar brokers and lenders on the market, so it's a good idea to compare your options prior to submitting an application.