Pepper Money Personal Loan

Interest rate from: 7.95% p.a.to 16.95% p.a.

Comparison rate from*: 9.56% p.a.to 18.53% p.a.based on $30,000
over 5 years

Upfront fee: $495

What's hot

Fixed and variable rate options
Borrow from $5,000 up to $40,000
$0 upfront fees

What's not

No redraw facility

Mozo snapshot

If you’re looking for a competitive financial option to pay for that trip to Europe or your dream wedding just around the corner, Pepper Money offers an unsecured personal loan allowing consumers to borrow up to $40,000. Interest rates start at 8.95% (10.56% comparison rate*) but depending on your credit history, rates can go as high as 27.99%.

Key features

Pepper Money’s Personal Loan gives you the choice of a variable or fixed interest rate loan repayment. Both loans have a $5,000 minimum loan amount and $40,000 maximum amount, giving you the option to choose your repayment term from 1 - 7 years.

Both loans also come interest rates starting from 8.95% variable (10.56% comparison rate*) and flexible repayment options of weekly or fortnightly instalments.

There are a few fees to watch out for including: an establishment fee of 4% of loan amount (capped at $495), a $13 service fee and a $50 late payment fee.

Who is it good for

This is the perfect loan for anyone needing the money to pay for something now such as an upcoming holiday or new kitchen, and then pay it back overtime.

As Pepper Money is an online lender you can apply from the comfort of your own home and from any device and Pepper’s quick application process only takes 10 minutes to complete.

Any catches

Keep an eye on the fees with this one, and if you're after a fixed term, take note that the longest term of 7 years is only available on loans of $8,000 or over.

Details

Rates

Rate types

Fixed
Rates from

7.95% p.a.to 16.95% p.a. fixed
Comparison rate from*

9.56% p.a.to 18.53% p.a.based on $30,000
over 5 years

Fees

Application fee

$495.00
Service fee

$13.00
Late payment fee

$50.00
Exit fee

$0.00
Early repayment penalty

0

Other financial bits

Minimum loan amount

$5,000.00
Maximum loan amount

$40,000.00
Minimum loan term

1 Year
Maximum loan term

7 Years
Security types

Unsecured

Features

Repayment options

Weekly, Fortnightly, Monthly
Extra repayments allowed

yes
Redraw allowed

no
Other restrictions

Establishment fee is 4% of loan amount, capped at $495. 7 year term only available for loans over $8,000.
Other benefits

none

*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. WARNING: 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

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OurMoneyMarket

Low Rate Personal Loan

interest rate

8.00% p.a.

comparison rate*

8.21% p.a.based on $30,000
over 5 years