Thumbnail icon for Pepper Money

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

Mozo editorial review Pepper Money Personal Loan

Last updated: 15 November 2019.

binocular icon
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%. 

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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.

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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.

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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 and fees information correct as at 8 July 2020. 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.
Rates
  • Fixed

  • 7.95% p.a.to 16.95% p.a. fixed

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

Fees
  • $495.00

  • $13.00

  • $50.00

  • $0.00

  • 0

Other financial bits
  • $5,000.00

  • $40,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

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

  • 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

This product is not currently reviewed.

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