DirectMoney Personal Loans

Rates and fees last updated on

Borrow from an innovative lender where your credit history can see you secure a rate up to 4% lower than the big banks

If you’re looking to consolidate your debt, finance a wedding, holiday or even car purchase, DirectMoney can offer you an unsecured personal loan of between $5,000 and $35,000. Their rates are offered on a tiered structure, where the better your credit history the better your rate. Comparison rates starting at 13.76% p.a.. Find out everything DirectMoney has to offer below.

Compare DirectMoney Personal loans

Rates last updated August 17th, 2017
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment Product Description
DirectMoney Unsecured Personal Loan
From 9.5% (fixed)
13.76%
$5,000
3 to 5 years
$595
This unsecured loan features tiers of interest rates based on your credit history.

Compare up to 4 providers

Rates last updated August 17th, 2017
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment Product Description
Citi Personal Loan Plus
From 11.99% (variable)
12.48%
$5,000
3 to 5 years
$0 ($199 fee waived)
Borrow up to $75,000. All approved applicants will receive the advertised variable rate of 11.99% p.a.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
Apply for up to $50,000 and receive conditional approval within minutes.
NAB Personal Loan Unsecured Variable Rate
From 14.69% (variable)
15.55%
$5,000
1 to 7 years
$150
An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
RateSetter Personal Loan
From 8.66% (fixed)
9.17%
$2,001
0.5 to 5 years
$0 (Upfront fee $250 for loan terms of 2 years and above)
Ratesetter allow you to get a personalised rate based on your credit score, interest rates from 3.7% p.a. to 9.6%.p.a.
SocietyOne Unsecured Personal Loan
From 7.9% (fixed)
9.92%
$5,000
2 to 5 years
3% (of loan amount)
Comparison rates for a 3 year loan range from 9.92% p.a. to 13.63% p.a. for good credit scores A and AA
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.42%
$4,000
1.5 to 7 years
$395 (Based on $10,000)
Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit credit.
CUA Discount Fixed Personal Loan (Loans over $30,000)
From 10.99% (fixed)
10.99%
$30,000
1 to 7 years
$0
Take advantage of a competitive fixed rate and no monthly fees when you borrow over $30,000
Latitude Personal Loans (Unsecured)
From 13.99% (fixed)
15.2%
$3,000
2 to 7 years
$250 (Loans under $4000 - $140)
An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your count in as little as 24 hours.
BOQ Unsecured Fixed Personal Loan
From 12.39% (fixed)
15.01%
$3,000
1 to 7 years
$150
Apply for up to $40,000 and have up to 7 years to repay your loan.
QT Mutual Bank Personal Loan
From 12.95% (variable)
13.54%
$3,000
1 to 5 years
$395 (establishment fee)
You can use this personal loan to buy just about anything: a new boat, home renovations, a holiday or even to consolidate existing debt. Only available to Queenslanders
CUA Discount Variable Personal Loan (Loans over $30,000)
From 10.89% (variable)
10.89%
$30,000
1 to 7 years
$0
Apply for a loan over $30,000 and enjoy a discounted interest rate
ANZ Fixed Rate Personal Loan
From 10.99% (fixed)
11.87%
$5,000
1 to 7 years
$150
A fixed loan option that lets you pay off your debt, buy a car, fix up your house or cover travel costs.
NAB Personal Loan Unsecured Fixed
From 14.99% (fixed)
15.85%
$5,000
1 to 7 years
$150
An unsecured loan available for a wide range of purposes for a long period of time up to 7 years. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
Bank of Melbourne Unsecured Variable Rate Personal Loan
From 11.99% (variable)
12.78%
$3,000
1 to 5 years
$0 (Offer available until 8th September 2017)
An unsecured personal loan that gives you a choice between a fixed or variable rate.
St.George Unsecured Personal Loan - Fixed Rate
From 11.99% (fixed)
12.78%
$3,000
1 to 5 years
$0 (Offer available until 8th September 2017)
Convenient redraw facility, flexible personal loan repayment options with competitive interest rate.
Westpac Unsecured Personal Loan
From 12.99% (fixed)
14.14%
$4,000
1 to 7 years
$250
Borrow up to $50,000 for a term of up to 7 years with the unsecured Loan from Westpac

Compare up to 4 providers

DirectMoney offers one basic type of loan, but as an unsecured personal loan, this can be used for a variety of purposes.

  • Debt consolidation. You can use your personal loan to consolidate existing debts from one or more loans and credit accounts.
  • Car loan. Looking to purchase a new or used vehicle? With loan amounts of up to $35,000 available, you can use a DirectMoney loan to finance your purchase.
  • Wedding loan. Unexpected expenses can crop up before your wedding. DirectMoney can have a loan amount transferred to you on the same day you apply, helping you to cover wedding expenses when they come up.
  • Holiday loan. You can also take out a personal loan to help fund a holiday. Pay for some or all of your trip using a loan from DirectMoney.

Features and benefits of a DirectMoney personal loan

DirectMoney offers an innovative lending platform for you to secure a personal loan. When you take out a loan with them you’ll be able to enjoy the following features:

  • Loan amount. Borrow between $5,000 and $35,000
  • Loan term. You can take out a loan for a period of either 3 year(s) or 5 year(s) years.
  • Paying back your loan. Set up a direct debit to cover your monthly repayments. Your also able to pay off your loan early with no early repayment fee.
  • Turnaround time. Apply for a loan before 10am on a normal business day and the loan amount will be in your bank account on that same day.
  • Fees. You’ll have to pay an establishment fee of $595, but there are no ongoing account-keeping fees or early repayment fees.

How interest is calculated on a DirectMoney personal loan

There is no set interest rate for a DirectMoney personal loan. Rather, the interest rate you’re approved for will depend on the state of your credit history. There are three credit bands that you can be classified in, each one offering a different interest rate.

  • Platinum band: Interest rate of 9.5% p.a.. The comparison rate will start at 13.76% p.a.. These rates are offered to those with pristine credit histories.
  • Gold band: These rates are offered to those with medium-level credit histories.
  • Silver band: You will be offered this rate if you have a lower level credit rating.

How to apply for a personal loan from DirectMoney

Applying for a personal loan from DirectMoney is simple. Just click ‘Go to Site’ on this page to fill out an online application form, which shouldn’t take longer than ten minutes. You’ll need to undergo an online credit check, have the last three months of your bank statements analysed, and have your identity verified. You’ll also need to:

  • Be aged 18 years or older
  • Be a permanent Australian resident or citizen
  • Have had a clean credit file for the past seven years
  • Earn a gross annual income of at least $30,000
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This page was last modified on 20 April 2017 at 3:52pm.

NOW FINANCE Personal Loans

Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit credit.

RateSetter Personal Loan

Ratesetter allow you to get a personalised rate based on your credit score, interest rates from 3.7% p.a. to 9.6%.p.a.

NAB Personal Loan Unsecured Variable Rate

An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.

Citi Personal Loan Plus

Borrow up to $75,000. All approved applicants will receive the advertised variable rate of 11.99% p.a.

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6 Responses

  1. Default Gravatar
    phyllisFebruary 2, 2017

    Is Direct Money affiliated to a bank?

    • Staff
      AnndyFebruary 2, 2017Staff

      Hi Phyllis,

      Thanks for your question.

      DirectMoney is a registered managed investment scheme, not a lender and not affiliated with any bank. It brings together borrowers and lenders through web-based technology.

      Cheers,
      Anndy

  2. Default Gravatar
    imoMarch 12, 2016

    where can i find your branch here in nigeria

    • Staff
      ElizabethMarch 14, 2016Staff

      Hi Imo,

      Unfortunately DirectMoney is an Australian lender and doesn’t have any branch locations in Nigeria. As we are an Australian financial comparison service none of the lenders on this website will be able to consider you for a loan unless you reside in Australia – you may need to contact a lender in Nigeria to find a loan.

      Sorry we couldn’t be of more assistance.

      Thanks,

      Elizabeth

  3. Default Gravatar
    GregJanuary 5, 2016

    I see you have to be in full time employment,what about self employed?

    • Staff
      ElizabethJanuary 5, 2016Staff

      Hi Greg,

      The minimum criteria for Direct Money are that you are employed and earning at least $30,000 p.a. If you meet these criteria you are able to apply. However, if you have specific questions regarding your eligibility it would be best to contact Direct Money directly.

      Thanks,

      Elizabeth

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