MoneyMe logo

MoneyMe OneDebt Personal Loan (Debt Consolidation)

Advertiser disclosure
Interest rate from
6.25% 19.95% p.a.
Comparison rate from
7.64% 19.12% p.a.based on $30,000
over 5 years
Upfront fee

Mozo editorial review MoneyMe OneDebt Personal Loan (Debt Consolidation) - last updated: 27 October 2021

3 / 5
binocular icon
What's hot
  • Fixed rates from 6.25% p.a. (7.64% p.a. comparison rate*)
  • Consolidation loan up to $50,000
  • No exit or early repayment fees
What's not
  • Up to $495 establishment fee
Mozo snapshot

Need to consolidate your multiple debts? You may want to consider the MoneyMe OneDebt Personal Loan (Debt Consolidation). With the loan customers can consolidate up to $50,000 worth of personal debt and fixed rates start at 6.25% p.a. (7.64% p.a. comparison rate*), based on a customer’s credit score. Extra repayments are also allowed on this loan without an early repayment penalty or exit fee. Just be mindful there is an upfront establishment cost and ongoing service fee.

key icon
Key features

Juggling multiple personal debts can be tricky, from keeping track of different repayments to dealing with multiple interest rates. That’s where MoneyMe’s OneDebt Personal Loan (Debt Consolidation) might be able to make things easier. 

The MoneyMe OneDebt Personal Loan (Debt Consolidation) is a debt consolidation loan, meaning customers can roll their various debts - such as credit card, car loan or personal loan debt - into the one loan. This product comes with fixed rates that are determined by a customer’s credit history, and start at 6.25% p.a. (7.64% p.a. comparison rate*). Loan amounts range from $2,001 to $50,000 and loan terms are between one and five years. According to MoneyMe, applications can take a matter of minutes with funds typically transferred within one hour from approval. 

When it comes to paying off the MoneyMe OneDebt Personal Loan (Debt Consolidation), customers only have the option of monthly repayments. However, MoneyMe allows borrowers to make free extra repayments whenever they like, plus there’s no exit fee or early repayment penalty for those that pay off their loan amount ahead of time. Remember though, there are no redraws allowed on this loan so once an extra repayment is made it cannot be accessed later down the track. 

There are some fees to watch out for. MoneyMe charges customers an upfront establishment cost depending on how much they borrow: 

  • $295 for customers borrowing between $2,100 and $5,000 

  • $395 for customers borrowing between $5,001 and $15,000 

  • $495 for customers borrowing between $15,001 and $50,000 

In addition to the establishment fee, there is also an ongoing service cost of $10 per month. So, the longer the loan term the more you’ll fork out in service charges.

Who is it good for

This loan might be a good option for someone struggling to pay off multiple debts separately. By consolidating with the MoneyMe OneDebt Personal Loan (Debt Consolidation) a customer may benefit from a single rate and a single repayment plan.

Plus, for those that love all things tech, this loan can be managed in the palm of your hands via the MoneyMe app.  

question icon
Any catches

Don’t forget, the more you borrow the higher your establishment fee. Plus, if you opt for a longer loan term you’ll end up paying more service fees which could end up costing you up to $600 (over a five year loan).

It's also important to note, while rates are tailored based on a customer's credit history, those with bad credit won't be approved for this loan. 

Picture of Polly Fleeting
Polly Fleeting
Money writer

Polly Fleeting is a personal finance writer here at Mozo, specialising in loans and credit cards. Her work is aimed at helping people find ways to make smart product choices, reduce debt and get more for their hard-earned dollars. Polly has a degree in Journalism from the University of Technology, Sydney. She is also ASIC RG146 (Tier 2) certified for general advice.


Rates and fees information correct as at 29 November 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.


6.25% 19.95% p.a. fixed

7.64% 19.12% p.a.based on $30,000
over 5 years







Other financial bits



1 Year

5 Years






For loans between $2,100 and $5,000 the establishment fee is $295. For loans between $5,001 and $15,000 the establishment fee is $395. For loans between $15,001 and $50,000 the establishment fee is $495.


WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Customer Reviews

This product does not currently have any community reviews. Be the first to write one.