⚡️⚡️⚡️
With energy prices rising, switch to a cheaper plan
💡
Compare Prices Now
⚡️⚡️⚡️

SocietyOne Unsecured Personal Loan

An unsecured loan with fixed personalised interest rates. Interest charges and establishment fees apply.

3 things to consider about this loan:

  • Personalised interest rates. Your interest rate will be based on your risk profile. You can receive a rate estimate before you apply.
  • Fixed rate. Your monthly repayments will be fixed for the duration of the loan.
  • No monthly fees or early repayment fees. You won’t be charged either monthly fees or early repayment fees.
No reviews yet. Write a review


From 6.95% (fixed)

Interest Rate (p.a.)

6.95%

Comparison Rate (p.a.)

$5,000

Min Loan Amount

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product NameSocietyOne Unsecured Personal Loan
Interest Rate (p.a.)
From 6.95% (fixed)
Comparison Rate (p.a.)6.95%
Interest Rate TypeFixed
Min Loan Amount$5,000
Max. Loan Amount$50,000
Loan SecurityUnsecured

How does the SocietyOne Unsecured Personal Loan work?

SocietyOne is a peer-to-peer lender which connects borrowers to investors. Their unsecured loans come with risk based pricing, meaning that your interest rate will be determined by the loan grade you receive and your loan term. With personalised rates, a good credit score and stable employment will get you a lower interest rate, and vice versa.

What features does the SocietyOne Unsecured Personal Loan offer?

  • Personalised rates. Your interest rate will be tailored to the loan grade you receive and loan term chosen. Factors such as your credit score, employment status, cash flow and the loan amount requested will contribute to your loan grade.
  • Fixed repayments. With a fixed rate, your repayments remain the same for the duration of the loan. This protects you from market fluctuations and allows you to budget your repayments in advance.
  • Borrow up to $50,000. You can borrow from $5,000 up to $50,000.
  • Varying loan terms. Loan terms vary between 2, 3 and 5 years.
  • Flexible repayments. You can make monthly or fortnightly repayments.
  • No ongoing fees. There are no monthly or annual account-keeping fees.
  • No early repayment fees. If you choose to repay the loan amount earlier than scheduled, you do not have to pay any early repayment fees.
  • ClearMatch technology. SocietyOne relies on ClearMatch™ technology for day-to-day operations. This platform assists with aspects such as credit assessments, loan origination and loan portfolio management. It includes state-of-the-art underwriting capabilities and it also enables customers to complete the application and approval process over the phone. In addition, it includes an array of debt management and customer service tools, while also assisting with credit scoring.

How much does the SocietyOne Unsecured Personal Loan cost?

There are a number of costs associated with this loan. These include:

  • Loan principal
  • Establishment fee ranging from $0 to $595
  • Interest rate broken into 4 loan grades. Rates range from 6.95% p.a. to 22.49% p.a. while the comparison rate ranges from 6.95% p.a. to 23.75% p.a.

Other fees you may be charged include:

  • Late payment fee of $35
  • Direct debit dishonour fee of $15 per dishonour

What interest rate will I get?

Interest rate (p.a.)

6.95% to 11.49%

6.95% to 12.99%

Comparison rate (p.a.)

6.95% to 14.87%

6.95% to 13.72%

Establishment fee

from $0 to $495

from $0 to $495

Interest rate (p.a.)

11.99% to 12.99%

13.69% to 14.69%

Comparison rate (p.a.)

16.06% to 17.08%

14.57% to 15.58%

Establishment fee

from $0 to $595

from $0 to $595

Interest rate (p.a.)

13.99% to 16.49%

15.99% to 18.49%

Comparison rate (p.a.)

18.11% to 20.67%

16.89% to 19.42%

Establishment fee

from $0 to $595

from $0 to $595

Interest rate (p.a.)

16.99% to 19.49%

19.99% to 22.49%

Comparison rate (p.a.)

21.18% to 23.75%

20.93% to 23.45%

Establishment fee

from $0 to $595

from $0 to $595

Your interest rate will fall into any of the following 4 tiers. It will be calculated based on your credit score, employment status, cash flow and the loan amount requested.

What are the pros and cons of the Society One Unsecured Personal Loan?

Pros

  • No ongoing fees. This helps keep down the cost of your loan.
  • No early repayment fee. You can pay off the loan early without receiving a penalty.

Cons

  • Interest rates can be high. If you don’t have a perfect credit score, rates can be quite high. They can go up to 20.49% p.a.
  • Loan terms are relatively inflexible. You’ll get either 2, 3 or 5 year terms.

Am I eligible for this loan?

To apply for this loan, you must:

  • Be at least 18 years old
  • Be an Australian citizen or permanent resident
  • Earn more than $30,000 (Centrelink can be supplementary income)
  • Be able to afford to repay the loan
  • Have good credit history
  • Be using the loan for personal use

How do I apply for this loan?

You can apply for this loan online, through the SocietyOne website or by clicking the “Go to site” button on this page. You may need to provide a copy of your driver’s licence or passport, your payslips, 3 months of bank statements, and credit card or loan statements.

Compare other personal loans

1 - 7 of 7
$
Name Product Mobile details underline Interest Rate (p.a.) Comp. Rate (p.a.) Rate Type Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket Personal Loan Fixed, 1 - 7 Years, $2,001 - $75,000
Exclusive
OurMoneyMarket Personal Loan
1 - 7 Years, $2,001 - $75,000
5.65%
to 20.99%
6.27%
to 23.83%
Fixed
1.50% - 6%
min. $250
$0
You'll receive a fixed rate from 5.65% p.a. to 20.99% p.a. based on your risk profile.
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

Finder Exclusive: Apply before 30th of June 2022 to secure a 0.20% p.a. discount for the full term of your loan.
Citi Personal Loan Plus Variable, 3 - 5 Years, $5,000 - $75,000
Exclusive
Citi Personal Loan Plus
3 - 5 Years, $5,000 - $75,000
8.90%
9.18%
Variable
$199
$0
You'll receive a variable rate of 8.90% p.a. with a comparison rate of 9.18% p.a. if you're approved.
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.

Finder Exclusive: Earn 150,000 Velocity Points when you apply and activate your account within 90 days from approval.
Wisr Personal Loan Fixed, 3 - 7 Years, $5,000 - $64,000
Wisr Personal Loan
3 - 7 Years, $5,000 - $64,000
6.95%
to 17.95%
7.78%
to 18.37%
Fixed
$595
$0
You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.
NOW Finance No Fee Unsecured Personal Loan Fixed, 18 Months - 7 Years, $5,000 - $50,000
NOW Finance No Fee Unsecured Personal Loan
18 Months - 7 Years, $5,000 - $50,000
5.95%
to 19.95%
5.95%
to 19.95%
Fixed
$0
$0
You'll receive a fixed rate between 5.95% p.a. and 19.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.

Latitude Variable Rate Personal Loan Variable, 2 - 7 Years, $5,000 - $70,000
Latitude Variable Rate Personal Loan
2 - 7 Years, $5,000 - $70,000
5.75%
to 25.99%
6.68%
to 29.20%
Variable
0% - 5%
$13
You'll receive a variable rate between 5.75% p.a. and 25.99% p.a. based on your risk profile
Apply for what you need from $5,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
Great Southern Bank Unsecured Fixed Rate Personal Loan Fixed, 1 - 7 Years, $5,000 - $65,000
Great Southern Bank Unsecured Fixed Rate Personal Loan
1 - 7 Years, $5,000 - $65,000
9.39%
9.64%
Fixed
$175
$0
You'll receive a guaranteed rate of 9.39% p.a. with a comparison rate of 9.64% p.a. if you're approved.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
Great Southern Bank Unsecured Variable Rate Personal Loan Variable, 1 - 7 Years, $5,000 - $75,000
Great Southern Bank Unsecured Variable Rate Personal Loan
1 - 7 Years, $5,000 - $75,000
11.89%
12.15%
Variable
$175
$0
You'll receive a guaranteed rate of 11.89% p.a. with a comparison rate of 12.15% p.a. if you're approved. Note: This rate may vary during the loan term.
Borrow from $5,000 with the option for flexible repayments and no monthly fees.
loading

Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and 19.09% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3, 5 or 7 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate between 6.49% p.a. and 15.99% p.a. ( 7.41% p.a. to 16.84% p.a. comparison rate) based on your risk profile
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.95% p.a. and 22.49% 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.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

113 Comments

  1. Default Gravatar
    Cathy
    December 12, 2018

    Getting an alternative no interest credit card account has been an option I’ve explored previously but every time I tried the application was refused. I have a good credit history I think as I’ve paid off all previous loans (housing, car and personal loans plus other bills utilities etc) so I don’t know what the issue is.

    I’m on a Disability Pension due to Multiple Sclerosis but we own our house and car, have no dependents other than 2 pets and keep the bills and expenditure controlled. My husband is a full time student at UWA and I’m about to start a PhD there also. I may get a scholarship but that’s yet to be finalized.

    Is it the DSP do you think I can’t come up with another answer, I’m trying to reduce the $14,000 credit card debt and always pay as much as possible well over the minimum payment (the debt was over $21,000 previously so I have reduced it but the CBA interest rate of 12.99% slows me down).

    • Avatarfinder Customer Care
      May
      December 18, 2018

      Hi Cathy,

      Thanks for reaching out and sorry for the delay.

      I’m sorry to hear about your declined credit card application. You may not have met the bank’s eligibility requirements. So even your good creditworthiness will not just be the sole factor to be considered when you’re applying for any form of credit. Banks would look at your overall financial health before they’ll consider your application. Given this, I couldn’t also single out whether if it’s due to your source of income from DSP Pension.

      I do understand that you’re after transferring your balance from your CBA card to another card that offers lesser interest or no interest at all (for a limited period). However, since you mentioned that you’ve already applied for a credit card just previously (or recently), it may not be ideal to apply for another one at this time as that would result in several enquiries listed on your credit file and thus affect your future approval. So best to wait for a few months before you try again.

      Meantime, while waiting for the right time to apply for a balance transfer credit card, you may want to start checking your possible options from our list of 0 balance transfer fee credit cards. But before that, please refer to our list of banks accepting DSP Pensioners. From that page, you’ll also learn what you’ll need to provide with the bank when applying.

      I hope this has somehow helped.

      Cheers,
      May

  2. Default Gravatar
    Dylan
    November 13, 2018

    I’m new to my job, been there for 2 months and I’m wondering if I would be able to get a loan while still in the probationary part since it hasn’t been the full 6 months, but I am permanent part-time if that matters. Also, I may be getting a guarantor loan if I can’t do it on my own and I’m wondering if my work affects a guarantor loan at all or it won’t matter?

    • Avatarfinder Customer Care
      Jhez
      November 13, 2018

      Hello Dylan,

      Thank you for your comment.

      If you’re planning to apply for the SocietyOne unsecured personal loan, please note that their minimum income requirement is at least $30,000 p.a. even if you’re still newly employed. Before submitting an application, please ensure your eligibility and the requirements. To apply, please click the “Go to Site” button.

      Alternatively, you may want to compare other new employee personal loans. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      As for the guarantor, just ensure that your guarantor has met the eligibility criteria of a guarantor. Generally, a guarantor will offer residential property as security for the loan, hence, must be an Australian resident.

      Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

      Regards,
      Jhezelyn

  3. Default Gravatar
    Suz
    October 12, 2018

    Just wondering why Society One needs 3 months of Bank Statements. I thought it was a strange question, all my statements are quite long and I have a few accounts. Why is this necessary? Thought it was just a salary, not the inquisition.

    • Avatarfinder Customer Care
      Jhez
      October 13, 2018

      Hello Suz,

      Thank you for your comment.

      Society One requires a bank statement because it establishes a few details.

      • Bank statements confirm your identity
      • Bank statements confirm your income
      • Bank statements show how reliable you are at repaying loans
      • Bank statements show where your money regularly goes
      • Bank statements show if you can afford a new personal loan

      You can also find more details about why lenders require bank statements.

      Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

      Regards,
      Jhezelyn

  4. Default Gravatar
    Sandra
    March 21, 2018

    My daughter is on Disability Support Pension and earns an amount of $ 2,500.00 per fortnight. Is she eligible to apply?

    Many Thanks

    • Avatarfinder Customer Care
      Jeni
      March 21, 2018

      Hi Sandra,

      Thank you for getting in touch with Finder.

      You can be eligible for a loan if you receive Disability Support Pension (DSP) as part or even all of your income. You will see the list of brands and banks offering pensioners loans from our comparison table. You may click the name of the lender to be routed to another Finder page containing more information about that them.

      Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  5. Default Gravatar
    Kylie
    March 20, 2018

    If i choose a 3-year fixed personal loan, it states no penalties to pay out early. Does this mean I can pay extra each fortnight, additional to my fixed fortnight repayment? or are they referring to no penalties for one lumpsum repayment?

    • Avatarfinder Customer Care
      Jhez
      March 22, 2018

      Hi Kylie,

      Thank you for your comment.

      Since the interest rate is fixed for this type of loan, that means your repayments stay the same for the entirety of your loan term. Generally, you’ll incur a penalty or fees for paying your loan back early or for making additional repayments. However, there could be some lenders who offer fixed personal loans that will let you make additional repayments at any time without penalty, like the SocietyOne personal loan. Go over your loan contract so you’re aware of all fees, charges, and conditions.

      Check our guide to know more details about a fixed-rate personal loans.

      Regards,
      Jhezelyn

Go to site