MONEYME Personal Loan
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- Interest Rate (p.a.)
- 6.24% to 26.10%
- Comparison rate (p.a.)
- 6.95% to 27.49%
- Min Loan Amount
- $5,000
Summary
Secure a highly competitive interest rate from 5.99% with this flexible personal loan.MONEYME offers a competitive personal loan with an interest rate from 5.99%. This places it in the top 15% of lower rates in our database. However, it comes with a high $495 application fee, which is in the top 25% of more expensive loans.
A $10 monthly fee also adds to the overall cost. This loan could suit borrowers who can secure the lowest rate to offset the high upfront fees.
Pros
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Automatic repayments
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Perks for good credit
Cons
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Late payment fee of
Details
Product details
| Product Name | MONEYME Personal Loans |
| Interest Rate (p.a.) | 6.24% to 26.10% |
| Comparison rate (p.a.) | 6.95% to 27.49% |
| Interest Rate Type | Variable |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $70,000 |
| Loan Security | Unsecured |
How does MONEYME Personal Loans compare?
- Competitive interest rate. This loan offers a minimum interest rate of 5.99% which places it in the top 15% of the most competitive rates in our database.
- High application fee. You will be charged a $495 application fee which is in the top 25% of higher fees when compared to other personal loans.
- Ongoing monthly fee. A $10 monthly account-keeping fee also applies which adds to the overall cost of your loan.
How does the MONEYME personal loan work?
MONEYME’s Personal Loan comes with personalised, variable interest rates. With personalised rates, your interest rate will be influenced by your credit score among other factors. High scores receive rates on the lower end of the spectrum, while low scores will receive a higher rate. This loan is unsecured and can be used for a variety of purposes, including travel and debt consolidation.Eligibility criteria
To be eligible for this loan, you must meet the following criteria:- Minimum credit score 500
- Australian and New Zealand Citizens or Permanent Residents only
- Must be employed full-time or part-time
How to apply
You can apply for this loan online, by clicking the "Go to Site" button on this page or through the MONEYME website. You'll be required to provide personal information, bank account details and a valid email address. Keeping your documents at hand can speed up the process.Features of this loan
- Personalised rates. Apart from your credit score, your total income, debt obligations and living expenses can also impact your interest rate.
- Variable rates. Variable rates can fluctuate based on the market rate, which can make them cheaper than fixed rates - however can also make them more expensive, depending on the market.
- Terms up to 7 years. Loan terms range from 3 to 7 years.
- Borrow up to $70,000. You can borrow from $5,000 up to $70,000.
- Quick applications and turnaround. It takes around 5 minutes to fill out the application. If you're approved, the funds will be available in your account within a few hours or within the hour if you bank with CommBank.
- Flexible repayments. You can make monthly or fortnightly repayments.
- No early repayment or exit fees. You can repay your loan early or make extra repayments to bring down how much you pay in interest.
How much does the MONEYME personal loan cost?
Costs associated with this loan include the following:- Loan principal
- Interest charges ranging from 6.24% p.a. to 26.10% p.a.
- Establishment fees, ranging from $0 to $495, depending on how much you borrow.
- Monthly fee of $10
Your comparison rate, which includes fees and interest charges, will range from 6.95% p.a. to 27.49% p.a.
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