DirectMoney Personal Loans

Rates and Fees verified correct on March 1st, 2017

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 March 1st, 2017
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Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
DirectMoney Unsecured Personal Loan
This unsecured loan features tiers of interest rates based on your credit history.
From 9.5% (fixed) 13.76% $5,000 3 to 5 years $595 More
Rates last updated March 1st, 2017
$
Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
HSBC Personal Loan
A competitive fixed interest rate loan with the option to make extra repayments. Min. income $30,000
From 9.5% (fixed) 10.06% $5,000 1 to 5 years $150 Go to site More
NAB Personal Loan Unsecured Variable Rate
An unsecured loan with a redraw facility that allows you to access money you've paid in advance.
From 14.69% (variable) 15.55% $5,000 1 to 7 years $150 Go to site More
Latitude Personal Loans (Unsecured)
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.
From 13.99% (fixed) 15.2% $3,000 2 to 7 years $250 (Loans under $4000 - $140) Go to site More
CUA Discount Fixed Personal Loan (Loans over $30,000)
Take advantage of a competitive fixed rate and no monthly fees when you borrow over $30,000
From 10.99% (fixed) 10.99% $30,000 1 to 7 years $0 Go to site More
NOW FINANCE Personal Loans
Get rewarded with a low interest rate for your good credit history.
From 9.95% (fixed) 11.41% $4,000 1.5 to 7 years $395 (Based on $10,000) Go to site More
Citi Personal Loan Plus
Borrow up to $75,000 with this personal loan offer from Citi.
From 11.99% (variable) 12.77% $5,000 3 to 5 years $199 (monthly fees waived in the first year) Go to site More
ANZ Fixed Rate Personal Loan
A flexible loan option that lets you pay off your debt, buy a car, fix up your house or cover travel costs.
From 13.95% (fixed) 14.81% $5,000 1 to 7 years $150 Go to site More
bcu Unsecured Multipurpose Loan
A flexible unsecured or secured personal loan with a competitive rate.
From 8.94% (variable) 9.85% $4,000 1 to 5 years $200 Go to site More
MoneyPlace P2P Loan
Interest rates from 8.90% p.a to 17.25% p.a. Comp rates from 8.90% p.a to 19.01% p.a depending on your credit score.
From 8.9% (fixed) 8.9% $5,000 3 to 5 years 0% - 3.75% of loan amount Go to site More
RACV Personal Loan
You could use this personal loan offer from RACV to help finance a renovation, holiday or project.
From 7.99% (fixed) 8.53% $5,000 1 to 7 years $370 Go to site More
Harmoney Peer-to-Peer Personal Loans
Borrow up to $35,000 with the unsecured peer to peer loan from Harmoney
From 8.99% (variable) 9.7% $5,000 3 to 5 years $500 (Upfront fee) Go to site More
SocietyOne Unsecured Personal Loan
Interest rates for a 3 year loan range from 7.88% p.a. to 25.49% p.a. Comparison rate from 9.9% p.a. to 26.74% p.a. depending on your credit score
From 7.88% (fixed) 9.9% $5,000 2 to 5 years 3% (of loan amount) Go to site More
CUA Discount Variable Personal Loan (Loans over $30,000)
Apply for a loan over $30,000 and enjoy a discounted interest rate
From 10.89% (variable) 10.89% $30,000 1 to 7 years $0 Go to site More
St.George Get Set Loan Personal Loan
A revolving line of credit that lets you access your funds as and when you need to.
From 17% (variable) $5,000 $150 Go to site More
ANZ Variable Rate Personal Loan
A variable rate loan that lets you make and redraw additional repayments.
From 14.69% (variable) 15.55% $5,000 1 to 7 years $150 Go to site More
NAB Personal Loan Unsecured Fixed
An unsecured loan available for a wide range of purposes for a long period of time up to 7 years.
From 14.99% (fixed) 15.85% $5,000 1 to 7 years $150 Go to site More

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 21 March 2016 at 13:32.

HSBC Personal Loan

A competitive fixed interest rate loan with the option to make extra repayments. Min. income $30,000

ANZ Variable Rate Personal Loan

A variable rate loan that lets you make and redraw additional repayments.

NAB Personal Loan Unsecured Variable Rate

An unsecured loan with a redraw facility that allows you to access money you've paid in advance.

Latitude Personal Loan (Secured)

Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your account in as little as 24 hours.

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6 Responses to DirectMoney Personal Loans

  1. Default Gravatar
    phyllis | February 2, 2017

    Is Direct Money affiliated to a bank?

    • Staff
      Anndy | February 2, 2017

      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
    imo | March 12, 2016

    where can i find your branch here in nigeria

    • Staff
      Elizabeth | March 14, 2016

      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
    Greg | January 5, 2016

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

    • Staff
      Elizabeth | January 5, 2016

      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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