Rates and fees verified as correct at 20 May 2022. Other information correct at the time of writing. Advertiser disclosure.
| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Unsecured Personal Loan (Fixed) |
5.95% p.a.to 26.99% p.a. |
5.95% p.a.to 28.6% p.a.based on $30,000 |
$0 |
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.
5 Reviews
I have a Money Place loan I settled using the payment details they provided me. This was settled as part of a mortgage topup and the settlement was done by the mortgagee solicitors. Two weeks later I get another debit from my account. I have spent 2 hours in phone calls trying to confirm if Money Place have the funds in a trust or holding account as its not applied to my loan. I have called them 4 times and spent over 2 hours on hold and in calls only to be advised on my most recent call that I have to prove to them the loan was paid. All they needed to do was take 5mins to check their trust account and confirm the funds are there or not but instead its up to me to run around and prove something that could have been resolved on the first call. I wouldn't recommend using them if you are looking for a great product and excellent customer service.
Read full reviewI have a Money Place loan I settled using the payment details they provided me. This was settled as part of a mortgage topup and the settlement was done by the mortgagee solicitors. Two weeks later I get another debit from my account. I have spent 2 hours in phone calls trying to confirm if Money Place have the funds in a trust or holding account as its not applied to my loan. I have called them 4 times and spent over 2 hours on hold and in calls only to be advised on my most recent call that I have to prove to them the loan was paid. All they needed to do was take 5mins to check their trust account and confirm the funds are there or not but instead its up to me to run around and prove something that could have been resolved on the first call. I wouldn't recommend using them if you are looking for a great product and excellent customer service.
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.
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