MoneyMe Personal Loans

Apply for a personal loan of up to $25,000 and benefit from tailored terms and no hidden fees.

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MoneyMe offers small personal loans to employed Australians with repayment terms suited to what they can afford. Turnaround time is quick, with the loan amount able to be deposited within an hour of your application depending on who you bank with.

If you repay your first loan on time and build up a positive rating with MoneyMe, you’ll be eligible for bigger loan amounts and lower fees in the future. Find out if a MoneyMe personal loan is right for you.

Compare MoneyMe Personal Loans

Updated September 16th, 2019
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee
From 8.99% (fixed)
1 to 3 years
(5 – 8% of the principal borrowed)
You'll receive an interest rate between 8.99% p.a. and 29.99% p.a. based on your risk profile
A flexible personal loan from MoneyMe with access to cash when you need it.

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 have your choice of the following personal loan products:

  • Medium loan. Borrow between $2,001 and $5,000 with an establishment fee of $400. Depending on the loan amount and the loan term, interest rates vary between 8.99% p.a. and 30% p.a. Interest is charged in arrears on the outstanding amount and repayments are made over a maximum of 2 years.
  • Personal loan. This product is for loan amounts of between $5,001 and $25,000. Here you are charged 5 – 8% of the principal borrowed as an establishment fee. The interest rates are the same as those of the medium loan, also charged in arrears on the outstanding balance. This loan can be repaid over a maximum term of 3 years.

What features does MoneyMe offer with its personal loans?

If you’re considering applying for a MoneyMe personal loan, here are some of its features.

  • 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 Commonwealth Bank. This may vary if you apply on a weekend or outside business hours. You can apply for another loan as soon as you’ve paid off the first one.
  • Flexible terms. Loans can be used for any purpose and repayment terms are tailored to your personal budget. Loans of over $5,001 can be repaid over a maximum of 3 years (2 years for amounts between $2,001 and $5,000).
  • Fees. An establishment fee is charged for setting up the loan. For loans of over $5,001, this amount is equal to 5 – 8% of the principal borrowed. Other fees that could apply include a direct debit dishonour fee and a late fee, both equal to $15.
  • No paperwork. This application process is paperless, meaning you sign the loan agreement electronically. As part of the verification process, MoneyMe uses Money Buddy technology for read-only access to your bank statements from the last 90 days.

What other products does MoneyMe offer?

Besides medium loans and personal loans of over 2 years, MoneyMe also offers small personal loans of between $500 and $2,000. This loan is repaid over 1 to 2 months.

The establishment fee payable varies between 11% and 20% of the total loan amount. You also pay an ongoing monthly fee equal to 4% of the total loan amount. The direct-debit dishonour fee of $25 is higher than those of the other loan products, but the late fee of $5 is lower than the other products’ fees.

How you can apply for a personal loan from MoneyMe

You can apply for MoneyMe loan conveniently online, just click “Go to Site” on this page to start your application. 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 citizen
  • You must be employed
  • You must be aged 18 years or older

Your credit history doesn’t have to be perfect, but MoneyMe rewards better credit with lower rates and won’t approve a loan if you’re bankrupt or clearly unable to make repayments.

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.

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Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: The establishment fee will be waived if you apply before 30 September 2019.

Logo for ING Personal Loan
ING Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

Logo for RateSetter Unsecured Personal Loan - 3yr Variable
RateSetter Unsecured Personal Loan - 3yr Variable

You'll receive a variable rate between 5.85 p.a. and 16.40 p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

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