nmoni is a high-tech website providing personal loans, car loans, bad credit loans and home loans or refinancing. It offers both secured and unsecured personal loans. One of its main perks is that applying for a loan through nmoni doesn't affect your credit score. Additionally, the application process only takes a few minutes, is 100% online and funds can be provided in under 24 hours. Your interest rate will depend on the type of product you apply for and if you have bad credit, you might encounter higher rates.
What loans are available?
Personal loans
nmoni provides both secured and unsecured personal loans from $5,000 to 150,000. The terms on these loans can vary from 1 to 7 years. Based on your preferences and/or your circumstances, loans can be secured or unsecured. Collateral assets for these loans can be either a property under your name or a vehicle not currently on finance. Vehicles must be less than 7 years old. Personal loan borrowers are usually required to have a good credit rating.
Car loans
Whether you have good or bad credit, nmoni may be able to help you to get a car loan for either new or used car purchases. Even previously bankrupt customers on Part 9 debt agreements are still eligible (though you will be required to be at least 6 months into the arrangement). Even if you haven't found the car you want to buy yet, nmoni may be able to offer you pre-approval on a car loan. Nmoni car loans can fund new and used car purchases. It can also assist with loans for other types of assets including boats, caravans, motorbikes and farm machinery.
Bad credit loans
If you have any defaults on your credit history, have been bankrupt in the past or are on a Part 9 debt agreement, you may still get personal loans for bad credit with nmoni. For a personal loan, you must be discharged if you've ever been Bankrupt or if you're in Part 9 Debt Agreement you must have entered the agreement for a minimum of 6 months.
Home loans/Refinancing
While nmoni doesn't offer home loans and refinancing loans directly, it does offer a credit assessment service. This assessment isn't based solely on your credit history but on you as an individual. Once nmoni has assessed your situation, it may put you in touch with one of its partnered lenders who may be able to help. For more information on home loans, please visit nmoni's website directly.
What features does a personal loan from nmoni offer?
nmoni offers a range of features with its loan products. These include:
Secured and unsecured. Whether you wish to use an asset as security on a loan or not, nmoni may be able to help find the right loan for you.
No upfront credit checks. nmoni considers applicants based on their financial history and employment status before considering their credit file.
Good and bad credit applicants eligible. While people with good credit usually qualify for lower rates than people with bad credit, nmoni still considers applications from bad credit applicants, even in the case of a bankruptcy or Part 9 debt agreement.
Quick turnaround. You can apply online in only a few minutes and funds can be provided in under 24 hours.
Competitive rates. Compare over 40 lenders to find a loan to save you money. Please be aware that rates will depend on the product that you apply for and on your financial circumstances and credit history.
Loan terms. Loans are available on terms from 1-7 years.
Loan types. A nmoni personal loan can be used for multiple purposes including debt consolidation, home improvements, travel and cosmetic surgery.
How to apply
Before submitting an application, please ensure that you meet the following eligibility criteria:
You are an Australian citizen or permanent resident
You are 18 years old or over
Please also note that
If you're on Centrelink benefits, those benefits can't make up more than half of your income.
If you're applying for a car loan and are currently in a Part 9 debt agreement, you must have been entered into that agreement for at least 6 months before applying. You'll need to be up to date with your Part 9 repayments and any other commitments. Additionally, you must not have borrowed 2 or more loans up to $2,000 while under this agreement.
nmoni doesn't offer unsecured personal loans if you're currently on a Part 9 debt agreement.
Applicants who have declared bankruptcy must be discharged.
Self-employed applicants must have a net income of at least $35,000.
All fees and charges will vary based on the product that you apply for and on your circumstances. It is also always a good idea to compare as many personal loan options as possible prior to submitting an application. This will help you to find the best solution for your circumstances.
Bria Horne is a writer for Finder, with a specialist knowledge of personal loans, car loans and business loans. Originally from the UK, Bria has been a professional personal finance writer in Australia for over 2 years. She has an M.A and B.A in Philosophy and Literature from the University of Sussex, and previously worked on the UK’s leading hospitality publication.
Is there any chance of a loan without an income only a pension. but i have a Credit card to 17,000 but my account is closed due to fraud on my cards and account.
We’re unable to provide any advice as to whether you’re likely to be approved for a loan or not.
Generally, in order to be approved for a loan, you need to provide evidence that you can make repayments, usually in the form of income. Other criteria apply also, including your current level of debt, employment status and personal situation (such as number of children/dependents).
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Is there any chance of a loan without an income only a pension. but i have a Credit card to 17,000 but my account is closed due to fraud on my cards and account.
Hi Danny,
We’re unable to provide any advice as to whether you’re likely to be approved for a loan or not.
Generally, in order to be approved for a loan, you need to provide evidence that you can make repayments, usually in the form of income. Other criteria apply also, including your current level of debt, employment status and personal situation (such as number of children/dependents).
You can learn more about applying for a loan when you’re on a pension here:
https://www.finder.com.au/pensioner-loans
Best of luck!