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MoneySpot Medium Amount Loan

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MoneySpot Medium Amount Loan
Maximum loan amount
Turnaround time conditions apply
1 hour
Term of loan
up to 2 years
Do you really need a loan today? If you would like to speak to someone about your finances you can call the free National Debt Helpline on 1800 007 007.


Apply online and receive the money within an hour. This loan has no early payout fees but has high fees and charges.

With MoneySpot’s short-term loan, you can borrow from $2,001 up to $5,000. Loan terms range from 63 days to 2 years. The application process is online and quick, and you could receive the money within the hour. Bad credit and Centrelink recipients can apply. This loan is expensive and comes with high fees and charges. Apart from the establishment fee of $400, your interest rate will be 48% p.a. While there is no early payout fee, there are late fees and collection fees. Payday loans are not a long-term financial solution and should only be used in case of an emergency.

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Product details

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

⚠️ Warning about Borrowing

payday-warningDo 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.

How does a MoneySpot Medium Amount Loan work?

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.

Features of a Medium Amount Loan from MoneySpot

Some of the features customers can expect from a loan from MoneySpot include:

  • Borrowing amount. Customers can borrow a minimum of $2,001 up to a maximum of $5,000.
  • Short loan terms. Applicants are only able to borrow money from MoneySpot for a minimum of 63 days and a maximum of 2 years.
  • Application process. The application process takes less than five minutes to complete. The loan is processed after the application has been received and once it has been approved, the money will be in the nominated bank account of the successful applicant in as little as an hour. Prospective applicants should keep in mind that this funding time can vary depending on the bank that they are with.
  • Bad credit applicants considered. MoneySpot won’t penalise customers for having bad credit and will accept bad credit applications as long as the applicant meets the other eligibility criteria.
  • Customers can apply if they're on Centrelink benefits. While applicants can receive some form of Centrelink payments to be eligible for a loan, they still need to be employed to be eligible.
  • No penalty for early payout. If someone wants to pay off their loan early, they can do this without being charged a penalty fee.

Fees and charges

The fees and charges for a short-term loan with MoneySpot are:

  • $400 establishment fee.
  • 48% p.a. interest rate.

If the applicant fails to make a repayment on time, late fees that might be charged include:

  • A direct debit dishonour fee of $35
  • A collection fee of $50

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.

MoneySpot loan eligibility

To apply for the loan, people must meet the following eligibility requirements:

  • At least 18 years old
  • Be an Australian resident
  • Are employed and earn a regular income
  • Do not receive the majority of your income from Centrelink

How to apply

To apply for this loan, applicants wll need:

  • Their bank account details
  • Their Australian driver’s licence number or Medicare number
  • A working mobile phone number

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October 12, 2018

Hi was just wondering how much would I hav 2 pay back if I got a loan for $1500.


Joel Marcelo

October 12, 2018

Hi Kelly,

Thanks for leaving a question on finder.

The fees and charges for a short-term loan with Moneyspot are:

$400 establishment fee

48% p.a. interest rate

For a 1500$ loan, it will be 2,620$ including the fees.

Please send me a message if you need anything else. :)



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