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. This type of financing has never been available in Australia before, and SocietyOne takes care of the fund management and servicing of every loan to minimise risks.
SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan
From
7.5 %p.a.
fixed rate
From
9.51 %p.a.
comparison rate
A and AA grade borrowers
Must be employed
Min. loan amount $5,000
100% confidential application
SocietyOne Unsecured Personal Loan
Borrow from $5,000 and benefit from no ongoing or early repayment fees. You'll receive a fixed rate between 7.5% p.a. and 20.49% p.a. based on your risk profile.
Unsecured personal loans from SocietyOne offer competitive rates starting from 7.75% p.a. for AA-rated borrowers. You're able to apply for a loan up to $50,000 and repay it over terms from
2 to 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.
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.
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.
Matt Corke is the head of publishing in Australia for Finder. He previously worked as the publisher for credit cards, home loans, personal loans and credit scores. Matt built his first website in 1999 and has been building computers since he was in his early teens. In that time he has survived the dot-com crash and countless Google algorithm updates.
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.
You'll receive a fixed rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% p.a. comparison rate) based on your risk profile An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 7.5% p.a. and 20.49% 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.
You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.
If you’d like to apply for a loan you can submit your application on Society One’s website. Just make sure you meet the minimum eligibility criteria outlined on the page above.
Do your loans have to be fixed? Reason I ask is if I set it at 7 years or 5 years and it is fixed this would mean I can’t pay off extra into the personal loan and secondly if I pay it off in say 2 yrs then penalty rates apply. Also what are your monthly fees etc
Kevin
Just to clarify, you’ve come through to finder.com.au, not Society One, we’re a financial comparison service, however I can still help you with your query. The interest rate that will be applied to your loan is fixed for your repayment term, which can be anywhere from one to five years. You will be charged a one-off establishment fee but there are no other fees charged on your loan. You are able to pay off your loan early and be charged no penalty.
Society One is a peer-to-peer lender and so offers a new way to get finance. It works by linking borrowers up with individual investors who agree to lend to you. This process is completely anonymous. The main thing to be aware of is that you are given a rate based on your credit position – Society One has five ‘grades’ of borrowers that is based on your Veda score, and your interest rate and establishment fee will be based on this loan amount. You can learn more about Society One and the way it works by clicking through to their site from the page above – just click the green ‘Go to Site’ button.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.
Products marked as 'Promoted' or "Advertisement" are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options and find the best option for you.
The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.
We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use for more information about our services and our approach to privacy.
we need loan
Hi Gitesh,
If you’d like to apply for a loan you can submit your application on Society One’s website. Just make sure you meet the minimum eligibility criteria outlined on the page above.
Hope this has helped,
Elizabeth
Do your loans have to be fixed? Reason I ask is if I set it at 7 years or 5 years and it is fixed this would mean I can’t pay off extra into the personal loan and secondly if I pay it off in say 2 yrs then penalty rates apply. Also what are your monthly fees etc
Kevin
Hi Kevin,
Thanks for your question.
Just to clarify, you’ve come through to finder.com.au, not Society One, we’re a financial comparison service, however I can still help you with your query. The interest rate that will be applied to your loan is fixed for your repayment term, which can be anywhere from one to five years. You will be charged a one-off establishment fee but there are no other fees charged on your loan. You are able to pay off your loan early and be charged no penalty.
I hope this has helped.
Thanks,
Elizabeth
This almost seems to good to be true, Very low rates, No Fees, unlimited repayments, No early payout fee…
I’ve just got one question to ask,
Whats the catch? and is it as secure as the Banks?
Hi Sean,
Thanks for your question.
Society One is a peer-to-peer lender and so offers a new way to get finance. It works by linking borrowers up with individual investors who agree to lend to you. This process is completely anonymous. The main thing to be aware of is that you are given a rate based on your credit position – Society One has five ‘grades’ of borrowers that is based on your Veda score, and your interest rate and establishment fee will be based on this loan amount. You can learn more about Society One and the way it works by clicking through to their site from the page above – just click the green ‘Go to Site’ button.
I hope this has helped.
Thanks,
Elizabeth
Hi,
Is there a redraw facility on the society one loan?
Hi J-C Hillis,
Thanks for your question.
You can make extra repayments at any time without penalty but there is no redraw facility available on this loan.
I hope this has helped.
Thanks,
Elizabeth
Where can i find the PDS for an investor? Do you know if SocietyOne has a provident fund to reduce default risk?
Hi Chris,
Thanks for your question.
The SocietyOne platform is currently open to Wholesale Clients and are working to include retail investors soon.
If you would like to register your interest, please see this page.
Should you be successful SocietyOne can send through a PDS and information about how they manage their risks.
Cheers,
Shirley
How do I become an investor
Hi Steve,
Thanks for your question.
The SocietyOne platform is currently opened to Wholesale Clients. You’ll need to register your interest first to discuss your participation.
Cheers,
Shirley