MoneyMe Personal Loan (Broker)
UnsecuredVariable rate
Unsecured variable-rate personal loan from $5,000 to $70,000 over 3 to 7 years, available through accredited brokers. Rates are personalised to your Equifax OneScore credit band, residential status and customer type.
- Interest rate a year, from
- 9.23%
- Comparison rate, from
- Not published
- Establishment fee
- $395
- Monthly fee
- $10
- Borrow
- $5,000 to $70,000
Monthly repayment
$20,000 over 3 years
What it would cost
At the lowest published rate of 9.23%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.
- Monthly repayment
- $648
- Total repayments
- $23,333
- Interest and monthly fees
- $3,333
Loan details
Rates
- Interest rate (a year)
- 9.23%–24.80%
- Comparison rate (a year)
- Not published
- Rate type
- Variable
- Security
- Unsecured
Limits and fees
- Loan amount
- $5,000 to $70,000
- Loan term
- 3 years to 7 years
- Establishment fee
- $395
- Monthly fee
- $10
How it compares
Against the other unsecured personal loans we compare. Typical means the middle half of them.
Cost of $20,000 over 5 years
$6,039
Interest and fees at its starting rate. Typical is $5,455.
Setup fee
$395
A typical setup fee is $213.
Monthly fee
$10
A typical monthly fee is $10.
Most you can borrow
$70,000
Typically you can borrow up to $50,000.
Longest term
7 years
7 years is the usual longest term.
Pros and cons
Pros
- No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
Cons
- Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 9.23% to 24.80%, and only some people get the starting rate.
- A higher setup fee. $395, above the typical $213. It's usually added to the loan, so you pay interest on it too.
- A $10 monthly fee. That adds $600 over 5 years, as well as the interest.
- A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.