MoneyMe
Discover MoneyMe personal loans with competitive rates from 5.99% p.a., flexible terms up to 7 years, and fast funding up to $70,000.
MoneyMe offers personal loans up to $70,000 with variable rates starting from 5.99% p.a. (comparison rate from 6.70% p.a.). Loan terms range from 3 to 7 years, giving borrowers the flexibility to find repayment schedules suited to their needs. There are no early repayment fees, making it ideal for those who may want to repay ahead of time. Fees include a $10 monthly fee and a $395 establishment fee for loans up to $15,000 ($495 for higher amounts). Applications are fully online, and approvals can be completed in as little as 60 minutes after submitting all required information.
How to Apply: Step by Step
- Start by obtaining a rate quote online. This takes just 90 seconds and does not impact your credit score.
- If you like the rate and terms, submit a full application with your details and documentation.
- Once approved, MoneyMe sends the funds directly to your nominated bank account—often within 60 minutes.
Pros of MoneyMe Personal Loans
One of the strongest advantages is the highly competitive variable rates, which often undercut traditional banks. As an independent reviewer, I see their digital process as another key benefit: it’s quick, paperless and transparent, helping customers avoid the frustration of lengthy paperwork and waiting times.
Furthermore, there are no penalties for early repayment, meaning you can save on interest if you pay back your loan ahead of schedule.
Cons of MoneyMe Personal Loans
The establishment fee, while not uncommon, could be high for those borrowing larger amounts. You’ll need to consider this in your overall loan cost.
Additionally, the lowest advertised interest rate is only available to those with excellent credit histories, so not all applicants will qualify for the most attractive rates on offer.
Verdict: Is MoneyMe Right for You?
MoneyMe stands out due to its fast online process, flexible terms, and competitive rates. It’s suitable for Australians seeking quick funds, especially if you want the option to pay off early without extra costs. Ensure you review the full fee structure, but overall, it’s a strong choice for those who value convenience and transparency.
