MoneyMe personal loans

Compare personal loans from MoneyMe, the ASX-listed online lender.

By   |   Updated 2 Feb 2024

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Comparing MoneyMe personal loans for over months

MONEYME Flexible Personal Loan (Good Credit History Only)

MONEYME Flexible Personal Loan (Good Credit History Only)

Interest rate

From 9.20% (personalised)

Comparison rate

From 10.58% (personalised)

Repayment period

3 years

Application fee

From $395.00

Monthly repayment


Total repayment



  • Check your rate and repayments without impacting your credit score.
  • Money can be in your bank account in as little as 60 minutes (if approved).
  • Fast approvals, flexible repayments, and no early exit fees.
  • Thousands of 5-star reviews.

MoneyMe is one of Australia’s fastest online lenders, offering quick decision personal loans to employed Australians.

Tailored interest rates and repayment terms make it easy to borrow, but they also mean you won’t be approved for a loan that you can’t afford to repay.

Types of MoneyMe personal loan

MoneyMe uses a peer-to-peer lending platform to offer unsecured personal loans to employed individuals. Like SocietyOne, MoneyMe is not a bank and does not lend capital itself. Instead, it facilitates loans between investors and borrowers.

Fixed interest rates start from around 7% p.a. with loans ranging from $2,100 to $50,000.

What can a MoneyMe personal loan be used for?

You can use an unsecured personal loan from MoneyMe for any personal purpose, as long as it is legal. For instance, you can use the borrowed money for:

Useful MoneyMe personal loan features

The main advantages of MoneyMe’s unsecured loans are the fast approval process and competitive interest rates. Notable features include the following.

Instant decisioning

MoneyMe features a simple application process and almost instant decisioning. You can apply for a loan anytime, anywhere.

Speedy access to funds

If approved, funds can be transferred to your bank account in as little as 1 hour (if you’re a CommBank customer).

Tailored interest rates

MoneyMe has low interest in general, but their lowest rates are reserved for people with an excellent credit score.

Fixed interest rates

Your repayments will always stay the same.

Flexible repayment terms

You can choose to pay back the loan in 1 year, 2 years, 3 years, 4 years, or 5 years.

Who can apply?

To be eligible for a fixed rate unsecured loan from MoneyMe, you must be an Australian citizen or permanent resident, currently employed, and at least 18 years of age. You must also have a good credit history.

How to apply

MoneyMe has a simple online application process and same-day assessment if you apply during business hours. The funds will generally reach your account within 24 hours upon approval. You need the following documents to apply for a loan:

  • Proof of identity, e.g. Australian passport, driver’s licence
  • Proof of address, e.g. utility bill, bank statement
  • Proof of income, e.g. bank statements, payslips
  • Details about your current debt and living expenses

Learn about MoneyMe personal loans

Commonly asked questions and answers about loans from MoneyMe.

  • FAQs

Can temporary residents apply?

No, only Australian citizens and permanent residents are eligible.

Can people who already have a personal loan apply for a MoneyMe personal loan?

You can apply if you already have a personal loan from a different provider. Many customers use their MoneyMe loans for debt consolidation. If you already have a loan with MoneyMe, you cannot apply for another loan before your existing loan has been repaid.

Are MoneyMe personal loans secured?

No. MoneyMe offers unsecured personal loans, meaning you don’t need security assets to borrow. Compare secured loans here.

How do I pay off my loan in full and close the account?

You can contact MoneyMe to agree on an early payment and closing your account.

Can MoneyMe personal loans be paid off early?

Yes. You can pay your loan in full at any time. There are no early payment or early exit fees.

Is there a redraw facility?

No, but you can re-apply for a loan once the first loan has been paid in full.

Will MoneyMe check credit scores when processing an application?

Yes. MoneyMe runs a credit check when processing an application to determine credit worthiness, interest rate, and the amount you can borrow. You can check your credit before applying here.

Are interest rates personalised based on your credit score?

Yes. The higher your credit score, the lower the interest rate.