1.0/10

Based on 1 Handypay product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Handypay personal loans

Handypay is a digital personal loan lender owned by the online financial marketplace OurMoneyMarket. Established in 2020, Handypay is a relatively new kid on the block but offers some competitive loan options for Aussie renovators. 

With the motto “Reno Now, Pay Later”, this lender offers personal loans specifically for home improvements. This could include anything from doing up your home interior, revamping your house exterior or even switching to solar power. Currently, Handypay offers two personal loan products: a Personal Loan and a Green Loan.

Handypay offers the following personal loans

Rates and fees verified as correct at 26 June 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee
Green Loan (Fixed, Unsecured)

7.37% p.a.

7.63% p.a.based on $30,000
over 5 years

$250.00

Home Improvement Loan (Fixed, Unsecured)

7.37% p.a.

7.63% p.a.based on $30,000
over 5 years

$250.00

What personal loans do Handypay offer? 

Handypay Personal Loan 

Renovations can be costly. But that's where the Handypay Personal Loan can give you the leg up you need to achieve your home improvement dreams. This fixed loan allows customers to borrow up to $75,000 to fund changes to the interior or exterior of their homes. Plus, there's plenty of choice when it comes to this loan, including a range of loan terms from 1 to 7 years and the option to make weekly, fortnightly or monthly repayments. 

Want to pay down your loan ahead of time? With Handypay, you can, as there are free extra repayments and no early repayment penalty. Bear in mind that this loan has no redraw facility, so you cannot access your additional repayments once they have been put towards the loan. There are minimal fees attached to this product; however, there is an upfront application cost straight off the bat. 

The Handypay Personal Loan is an unsecured loan, meaning you don't need to put up any assets as collateral.

Handypay Green Loan 

Is your house going green? Look no further than the Handypay Green Loan. This product is designed to fund things like solar panels, battery storage, inverters, solar heating and cooling, rainwater tanks, energy-efficient renovations and more. 

Customers can borrow anywhere from $2,001 to $75,000 for their eco-friendly initiatives and choose a loan term from 1 to 10 years. This fixed-rate loan comes with a bunch of flexible repayment features, too, such as free extra repayments and the option of a weekly, fortnightly or monthly repayment schedule. 

Just bear in mind, like the Handypay Personal Loan, no redraw facility is attached to this green loan option. And while there is no early repayment penalty if you pay down your loan ahead of time, make sure you budget for an upfront application cost.  

Handypay personal loans at a glance 

  • Repayment flexibility: Both loans offered by Handypay allow borrowers to choose from a weekly, fortnightly or monthly repayment schedule. This enables borrowers to decide what repayment frequency suits them in terms of things like when they get paid. 

  • Extra repayments facility: Handypay offers free extra repayments on its personal loan offerings to help borrowers repay their loans sooner. This means that on top of regular repayments, customers can put additional funds towards their loan whenever they like. 

  • No early repayment penalty: On top of free extra repayments, Handypay also doesn't charge an early repayment penalty on its personal loans. So, if you pay down your loan ahead of time, there's no extra cost for doing so. 

How do you apply for a Handypay personal loan? 

If Handypay sounds like the right lender for you and you're ready to apply, the application process is all online. Here's what information you'll need to have handy for your application: 

  1. Your personal details 

  2. Identification documents (such as a driver's licence or passport)

  3. Income information and employment status 

Handypay will also ask for your consent to access your credit report to provide you with a rate quote.

How are Handypay personal loans rated?

Mozo users have rated Handypay personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
Handypay personal loans customer reviews
Overall
1.0/10
Price
1.0/10
Features
1.0/10
Customer service
1.0/10
Convenience
1.0/10
Trust
1.0/10
Based on 1 Handypay product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Handypay personal loan reviews

Handypay Personal Loan
Overall 1/10
Avoid at all costs

Avoid at all costs. Applied through the Narelle Pool link for a new pool. They state clearly on the website it doesn’t affect your credit score and soft touch on your credit report. This is incorrect it does, and it does impact your credit score. After taking my bank statements, with evidence of decent savings and good income, no mortgage on property and other assets. They reply with an automated message which says fallen outside of our credit policy. No one is responding to my emails, nor phone as it just rings out. They have made a major impact on my file as I now won’t be able to apply for credit after 3 months which will now affect our pool build. I wouldn’t have done it if they had made a credit file Enquiry. As these lenders are frowned upon as they are 3rd tier. I only did as the rate was good, and they were associated with Narelle]an Pools. Be warned and avoid Money Market Lenders and Handy Pay. It’s not worth the hassle.

Read full review

Avoid at all costs. Applied through the Narelle Pool link for a new pool. They state clearly on the website it doesn’t affect your credit score and soft touch on your credit report. This is incorrect it does, and it does impact your credit score. After taking my bank statements, with evidence of decent savings and good income, no mortgage on property and other assets. They reply with an automated message which says fallen outside of our credit policy. No one is responding to my emails, nor phone as it just rings out. They have made a major impact on my file as I now won’t be able to apply for credit after 3 months which will now affect our pool build. I wouldn’t have done it if they had made a credit file Enquiry. As these lenders are frowned upon as they are 3rd tier. I only did as the rate was good, and they were associated with Narelle]an Pools. Be warned and avoid Money Market Lenders and Handy Pay. It’s not worth the hassle.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Brett, New South Wales, reviewed about 1 year ago
See all personal loan reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
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