Sick of paying sky high interest rates? Well if you're a creditworthy borrower, taking out a personal loan with a peer to peer lender like MoneyPlace could be just for you. Rates start from a super low 5.95% (5.95% comparison rate*), there are $0 upfront or ongoing fees and the loan also comes with flexible features like an extra repayments facility, so you can pay out your loan early if you come into extra cash.
With MoneyPlace's Unsecured Personal Loan, the interest rate you receive will depend on your credit report, with those with excellent credit ratings receiving the best rate of 5.95% (5.95% comparison rate*) and no upfront or ongoing fees. And because the rate is fixed for the life of the loan, you'll be protected against any rate rises.
As the loan is unsecured, you don't have to put up an asset as security and you can choose a loan amount from $5,000 to $80,000 and a term between 3, 5 and 7 years.
On top of its low cost offering, you'll also have the opportunity to make additional payments on your loan thanks to the extra repayments facility. But keep in mind, after you've made those extra repayments you won't be able to access them, as there is no redraw facility is available. Unlike many fixed rate loans that come with a break cost fee if you pay out the loan early, with MoneyPlace's Unsecured Personal Loan you're free from the bite of exit and early repayment fees.
And to help you manage your repayments better, you'll be able to choose a monthly, weekly or fortnightly repayment schedule.
MoneyPlace's Unsecured Personal Loan is perfect for a borrower looking for a low cost loan alternative to the big banks in Australia.
The competitive low rate of 5.95% (5.95% comparison rate*) and $0 application and ongoing fees is only available to creditworthy borrowers. So if your credit report is in the red, you'll be looking at a higher rate up to 26.99% (28.60% comparison rate*) and may also be charged upfront and ongoing fees.
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Fixed |
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5.95% p.a.to 26.99% p.a. fixed |
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5.95% p.a.to 28.6% p.a.based on $30,000 |
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$0.00 |
|
|
$0.00 |
|
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$10.00 |
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$0.00 |
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$0.00 |
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$5,000.00 |
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$80,000.00 |
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3 Years |
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7 Years |
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Unsecured |
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Monthly |
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yes |
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no |
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Interest rate and establishment fee vary according to an individuals credit history. Rates and fees shown are for an Excellent Credit borrower. |
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none |
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.
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.
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.
Reply from MoneyPlace
Hi Cheryle,
It sounds like you may have had a bad experience with another lender or been the recipient with a fraudulent email. MoneyPlace has never asked our applicants to deposit money to approve a personal loan.
We would love the opportunity to follow this up with you. If you could please reach out to us on 1300 008 003 or via email at borrow@moneyplace.com.au it would be greatly appreciated.
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.
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