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Salt and Lime Debt Consolidation Loan

Salt and Lime loan offers same-day funding up to $20,000 and the ability to pay your loan off sooner by earning interest rate discounts.

Salt and Lime offers debt consolidation loans from $4,000 up to $20,000 with terms up to 5 years. Like other debt consolidation loans, you can roll all your debts into one loan and pay off your active debts. While this loan does not have any fees, you will have interest rate charges. Before you apply for a debt consolidation loan, you should look into whether there are any costs associated with exiting other loan contracts. You should only opt for a debt consolidation loan if it costs less than your current debts put together.

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From 16% (fixed)

Interest Rate (p.a.)


Min Loan Amount

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Product NameSalt and Lime Debt Consolidation
Interest Rate (p.a.)
From 16% (fixed)
Interest Rate TypeFixed
Min Loan Amount$4,000
Max. Loan Amount$20,000

Main points to consider with a debt consolidation loan from Salt and Lime

A debt consolidation loan from Salt and Lime includes no fees and features a personalised interest rate, based on your financial circumstances and information about your income. Interest rates vary form 16% p.a. to 35% p.a. There are two types of debt consolidation loan that you can apply for with Salt and Lime. These include:

  • Tangy Loan. This loan is available from $4,000 to $5,000 and can be secured or unsecured.
  • Zesty loan. This loan is available from $5,000 to $20,000 and are secured.

These loans are available for debt consolidation only. This means that you can only use these loans to pay off your existing debt(s), and roll them into a single convenient monthly repayment. Salt and Lime also offers the option to take this repayment directly from your employer each month, so you don't even have to worry about making the repayments yourself.

A unique features of Salt and Lime's loans is the ability to pay them off more quickly and save on interest repayments by completing a financial education modules as you progress in your repayments. Salt and Lime will send you up to 8 sets of modules to complete and answer correctly. These modules aim to improve how you manage your income and expenses and your knowledge of financial products, amongst other topics. If you successfully complete these modules you may receive 0.25% off your interest rate, which works out as up to 2% off your loan.

Features of a debt consolidation loan from Salt and Lime

The following features apply to Salt and Lime loans:

  • Loan amount. Loans are available from $4,000 to $20,000.
  • Loan term. Terms range from 1 to 5 years.
  • Same-day funding. If your application is successful, you will usually receive your funds on the same business day.
  • Secured or unsecured. You can access an unsecured debt consolidation loan up to $5,000. Loans or more than $5,000 must be secured by an eligible asset.
  • Employer repayments. Once approved for a loan, Salt and Lime will give you a deduction form for you to pass on to your employer. Repayments will then be made directly by your employer each pay cycle.
  • Interest rate. Rates vary from 16% p.a. to 35% p.a.
  • Apply online. Salt and Lime's application process is 100% online.
  • Quick application. Applications only take a few minutes to complete.
  • Save as you learn. Save up to 2% off your entire loan while learning about how to better manage your finances.

Fees and charges

This loan has an interest rate only, there are no fees attached.

  • Interest rate. Rates are based on your personal circumstances and range from 16% p.a. to 35% p.a.
  • No application fees. You are not required to pay an application or an establishment fee for this loan.
  • No early termination fee. There are no penalties for repaying your loan early.
  • No monthly fees. Never pay monthly fees.

Salt and Lime loan eligibility

In order to qualify for a loan through Salt and Lime, applicants must be:

  • 18 years old or over
  • An Australian citizen or permanent resident
  • Receiving a regular income and can provide at least 3 months of payslips
  • Have online banking set up

How to apply

To apply for a loan with Salt and Lime, simply click "Go to site" to visit the lender's website directly, where you can submit an application. You will need:

  • ID, such as an Australian driver's license or passport
  • Online banking details to view 90 days of bank transactions
  • 3 months worth of payslips

Please note that same-day funding can only occur when all requested documents are submitted and received on the same business day as requested.

Salt and Lime debt consolidation loans are a competitive loan option. That being said, remember to compare other debt consolidation loan options prior to submitting an application.

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