MoneyMe Personal Loans

Borrow from $2,100 up to $50,000 or a line of credit up to $20,000. Interest rates depend on the product and can be high.

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MoneyMe offers small-to-medium personal loans with quick turnaround times, allowing you access to funds within a few hours. The lender bases its rates on your credit score, as well as your payment history with MoneyMe.

Pros and cons

  • Fast turnaround time of one to a few hours
  • A virtual Mastercard can offer lines of credit up to $20,000
  • A mobile app that allows you to view and manage your loans
  • Rates can be high, especially for those with low credit scores
  • A number of fees and charges can add up, such as establishment, monthly and annual fees
  • MoneyMe loans are designed to solve short-term problems and will not be suitable in addressing longer-term issues

Compare MoneyMe Personal Loans

1 - 3 of 3
Name Product Mobile details underline Interest Rate (p.a.) Comp. Rate (p.a.) Rate Type Application Fee Monthly Fee Monthly Repayment
MoneyMe Personal Loans Fixed, 1 - 5 Years, $2,100 - $50,000
MoneyMe Personal Loans
1 - 5 Years, $2,100 - $50,000
to 19.95%
to 21.32%
$295 - $495
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
MoneyMe Freestyle The Virtual Credit Account Variable, $3,000 - $20,000
MoneyMe Freestyle The Virtual Credit Account
$3,000 - $20,000
to 25.99%
You'll receive a variable rate from 16.99% p.a. based on your risk profile
Borrow between $3,000 and $20,000. Get up to 35 days interest free on purchases made using your Freestyle virtual credit account.
MoneyMe OneDebt Loan Fixed, 1 - 5 Years, $2,100 - $50,000
MoneyMe OneDebt Loan
1 - 5 Years, $2,100 - $50,000
to 19.95%
to 21.32%
You’ll receive a fixed interest rate from 6.25% p.a. and 19.95% p.a.
Consolidate your existing debt into a single, unsecured loan of up to $50,000.

Compare up to 4 providers

What types of personal loans does MoneyMe offer?

MoneyMe is an online financial provider that promotes responsible lending. This means that you won’t be approved for a loan you can’t afford to repay. You can choose from 3 product types:

  • Personal loan. This product is for loan amounts of between $2,100 and $50,000. You will be charged between $295 and $495 as an establishment fee. The interest rates also vary between 6.25% p.a. and 19.95% p.a.., and the loan can be repaid over a maximum term of 5 years.
  • Line of credit. Access up to $20,000 with a MoneyMe Freestyle Virtual Credit Account at a rate of between 16.99% p.a. and 25.99% p.a.
  • Debt Consolidation Loan. If you have existing debts, consider this loan to merge them all into one, easier to manage loan. Borrow from $2,100 up to $50,000 at a fixed rate between 6.25% p.a. and 19.95% p.a. Your rates will be based on your current credit and debt situation.

What features does MoneyMe offer with its personal loans?

  • Repayments align with your pay cycle. Loan repayments are lined up with your pay cycle and are automatically direct debited.
  • Responsible lending. MoneyMe only approves loan amounts that you can afford to repay. Repaying your loan on time helps develop a positive loan rating, which means you benefit from lower rates the next time you borrow from MoneyMe.
  • Quick turnaround. Loan applications are approved quickly and money is available within a few hours, or within the hour if you bank with CommBank. This may vary if you apply on a weekend or outside business hours.
  • Flexible terms. Repayment terms are customised to borrowers' budgets and pay cycles. Loans of over $2,100 can be repaid over a maximum of 5 years (1 year for amounts between $2,100 and $5,000).
  • No paperwork. This application process is paperless, meaning you sign the loan agreement electronically. As part of the verification process, MoneyMe uses illion Open Data Solutions technology for read-only access to your bank statements from the last 90 days.

How you can apply for a personal loan from MoneyMe

You can apply for a MoneyMe loan conveniently online. Before supplying personal and financial information, you’ll be asked to specify the loan amount, the desired loan period and the loan purpose.

You must meet the following eligibility criteria in order to apply for a loan:

  • You must be an Australian resident
  • You must be employed
  • You must be aged 18 years or older

You’ll need the following documents on hand:

  • Bank details so your loan can be deposited
  • Mobile phone number
  • Valid email address

MoneyMe’s personal loan products are designed to reward good customers with lower rates and added benefits. However, it’s best to compare your loan options before you apply.

Frequently asked questions

More guides on Finder

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3, 5 or 7 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 5.95% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

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