SocietyOne is the first peer-to-peer financing platform in Australia. It connects investors with borrowers in a secure environment and offers you a loan based on your credit history. The company offers investors the opportunity to lend to qualified borrowers directly. To minimise risk, SocietyOne manages the funds and servicing of every loan. Approvals are fast and you can choose your own loan term of 2, 3 or 5 years. Your interest rates and establishment fees will depend on your credit score. If you have good credit, you could get an interest rate as low as 9.20% p.a.
Unsecured personal loans from SocietyOne offer competitive rates starting from 9.20% p.a. You're able to apply for a loan up to $50,000 and repay it over terms of 2, 3 or 5 years. These loans can be used for a variety of reasons, from debt consolidation and weddings to going on holiday or buying a new car.
Features and benefits of a SocietyOne personal loan
- Competitive interest rates. The interest rate you're offered from SocietyOne depends on the details you provide in your personal loan application. SocietyOne can offer you a personalised quote in three minutes.
- Loan terms. You can choose to repay the loan over 2, 3 or 5 years.
- Flexible loan. The loan is unsecured so can be used to fund various loan purposes. You can use it to pay for a holiday, consolidate debt, finance a wedding, buy a car or pay for your education needs.
- Fast approval. Applications will be reviewed to determine if the borrower and lender meet the criteria. Applications are processed quickly to give borrowers access to funds when they need them most.
- Transparent rates and fees. You can see SocietyOne's rate and fee structure before you apply on its website.
- Direct lenders. Investors are able to look through available borrower applications on SocietyOne's secure platform. This is all anonymous and the platform is safe.
The establishment fee is based on your credit score.
|Excellent||from $0 to $495|
|Very good||from $0 to $595|
|Good||from $0 to $595|
|Average||from $0 to $595|
What other products does SocietyOne offer?
SocietyOne only offers personal loans at this time. The P2P lender specialises in connecting borrowers and investors.
How to apply for a personal loan from SocietyOne
If you'd like to apply with SocietyOne, click "Go to Site" to get your application started. There are some basic application criteria that has to be met, so ensure you can answer "yes" to each of the below:
- You are an Australian citizen or Australian permanent resident
- You are at least 18 years old
- You earn more than $30,000 p.a.
- You can afford the loan you're applying for
- You've had good credit for the last two years
- You're not in financial hardship with other financial providers
- You do not have pending, current or previous bankruptcy
- The loan is not for business purposes
SocietyOne is a unique lending platform that offers a range of options to customers. Make sure to compare your options before deciding which loan is right for you.
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