Rates and fees verified as correct at 25 November, 2020. Other information correct at the time of writing. Advertiser disclosure.
| Product | Interest rate from | Comparison rate from | Upfront fee | |
|---|---|---|---|---|
| Unsecured Personal Loan (Fixed) | 6.45% p.a.to 26.99% p.a. | 6.45% p.a.to 28.6% p.a.based on $30,000 | $0 | Go to site |
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.
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Unsecured personal loan: It’s pretty easy to choose which personal loan you’ll go for, as MoneyPlace only has one, its Unsecured Personal Loan (fixed), which unlike a secured loan doesn’t require you to put up an asset as collateral. Loan terms are available from $5,000 to $35,000 repaid over a period of 3 to 5 years and because your rate is fixed, the monthly repayments will remain consistent over the life of the loan. On top of this, you can make extra repayments free of charge and also pay out the loan early without the cost of a break cost fee. But you’ll need to ensure you don’t need that cash later on, as no redraw facility is available. If you’re a creditworthy borrower you’ll get a competitive low rate, pay no upfront fee or ongoing fees either. However keep in mind, if your credit rating isn’t in the green, your rate may be higher and fees could apply.
The first stage of taking out a loan with MoneyPlace is getting an interest rate estimate, by providing the following details:
If you’re happy with the rate estimate given to you by this peer to peer lender then you can complete your application online, where you will be required to provide more information including your income, assets and expenses.
Mozo users have rated MoneyPlace personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
4 Reviews
Disgusted at the way I was treated by MoneyPlace during the pandemic when I missed a couple of payments after years of never missing a payment! Was going through a legitimately difficult time and provided evidence of my low income but they refused to be lenient at the time and instead bombarded me with text messages and emails from ecoll. Despicable really. Will never recommend to anyone. They are nice at first then become ruthless, plus the very high interest is robbery of the poor.
Read full reviewDisgusted at the way I was treated by MoneyPlace during the pandemic when I missed a couple of payments after years of never missing a payment! Was going through a legitimately difficult time and provided evidence of my low income but they refused to be lenient at the time and instead bombarded me with text messages and emails from ecoll. Despicable really. Will never recommend to anyone. They are nice at first then become ruthless, plus the very high interest is robbery of the poor.
MoneyPlace wanted me to deposit money in their account to approve a personal loan.
Read full reviewMoneyPlace wanted me to deposit money in their account to approve a personal loan.
Have been very flexible with all my loan needs. Have been very happy with the service that I have received.
Read full reviewHave been very flexible with all my loan needs. Have been very happy with the service that I have received.
Low interest rates and friendly staff.
Read full reviewLow interest rates and friendly staff.
