EBP Money Unsecured Personal Loan
- Interest Rate (p.a.)
- 8.99% to 15.99%
- Comp. Rate (p.a.)
- 8.99% to 17.85%
- Min Loan Amount
- $5,000
Summary
EBP Money's unsecured personal loan has competitive fixed interest rates and minimal fees for borrowers with excellent credit scores.
3 things to consider about this loan:
- Your rate is fixed for the life of the loan. Your rate is determined by your credit score and financial position.
- Lower fees for eligible borrowers. If you have an excellent credit score you can avoid the application and monthly fees.
- Flexible employment requirements. You can get a loan if you're employed full time, part time or casual.
Pros
-
Competitive interest rates
-
Minimal fees
-
You can get funds in your account by the next business day
Cons
-
This loan has a relatively low maximum loan amount
-
There are late payment and arrears fees
-
There may be early repayment fees
Details
Product details
| Product Name | EBP Money Unsecured Personal Loan |
| Interest Rate (p.a.) | 8.99% to 15.99% |
| Comp. Rate (p.a.) | 8.99% to 17.85% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $25,000 |
| Loan Security | Unsecured |
How do EBP Money Unsecured Personal Loans work?
Borrowers can use an EBP Money Unsecured Personal Loan for any approved purpose. This includes debt consolidation, travel, home renovations, education or buying a car. This loan is unsecured, meaning you don't have to offer a car or other asset as security. And the interest rate is fixed, meaning it will not change throughout the loan.The interest rate you will get depends on factors like your credit score and your personal financial circumstances. Borrowers with excellent credit not only get lower rates but can also avoid application and monthly fees.
It's worth keeping in mind that because this loan has a fixed interest rate you may have to pay an early repayment fee if you try to pay off the loan faster.
Eligibility criteria
- Be an Australian citizen or permanent resident
- Be 18 or over
- Be in full-time, part-time or casual employment
- Have an annual income of at least $45,000
How to apply
You can apply for an unsecured loan from EBP Money online. Once your loan is approved, funds will land in your account on the following business day.Features of this loan
- Unsecured interest rate, meaning you don't need to provide any asset as security.
- Fixed interest rate.
- Borrow between $5,000 and $25,000.
- You will receive the funds in your account in 1 business day from approval.
How much does an EBP Money Unsecured Personal Loan cost?
Aside from the monthly interest charges as you make repayments, the EBP Money Unsecured Personal Loan has several fees.If your credit score is Excellent, you can avoid the application and monthly fees.
| Cost | Amount |
|---|---|
| Application fee | $0 application fee for borrowers with Equifax Scores between 833 to 1200. 3% of loan amount for applicants with Equifax Scores between 622 and 832. |
| Monthly fee | $15 or $0 monthly fees for customers with excellent credit who are eligible to be tier-1 borrowers. |
| Arrears fee | You will pay $25 if you have any unpaid loan repayments. |
| Late payment fee | You will pay $25 if you are late on a repayment. |
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