Key points
  • SocietyOne connects borrowers with investors rather than funding loans itself, operating under a peer‑to‑peer lending model.
  • Borrowers can access secured or unsecured loans from $5,000 to $70,000, with personalised, risk‑based interest rates and no monthly fees.
  • Applications are fully digital, with quick turnarounds, and flexible loan terms.

SocietyOne connects investors looking for returns with borrowers seeking car and personal loans. Normally a bank or lender will provide money to finance a loan. SocietyOne doesn’t provide the money for a loan, instead connecting borrowers with investors. This is called peer-to-peer lending, or P2P.

The lender launched in 2012 with what was then a first-of-its-kind model. It was acquired by MoneyMe in 2022 in a deal with upwards of $130 million at the time it was announced.

The low-down on SocietyOne personal & car loans

SocietyOne offers both secured and unsecured personal loans from $5,000 to $70,000 for a number of uses including:

    Check out some of SocietyOne’s personal loan offerings:

    Update resultsUpdate
    Filters
    LenderCar LoanInterest Rate Comparison Rate* Monthly Repayment Interest Type Secured Type Early Exit Fee Ongoing Fee Upfront Fee Total Repayment Early Repayment Instant Approval Online Application TagsFeaturesLinkComparePromoted ProductDisclosure
    7.99% p.a.
    7.99% p.a.
    $627
    Fixed
    Unsecured
    $0
    $0
    $0
    $22,559
    7.99% p.a.
    7.99% p.a.
    $627
    Fixed
    Unsecured
    $0
    $0
    $0
    $22,559
    7.99% p.a.
    7.99% p.a.
    $627
    Fixed
    Unsecured
    $0
    $0
    $0
    $22,559
    8.99% p.a.
    8.99% p.a.
    $636
    Fixed
    Unsecured
    $0
    $0
    $0
    $22,892
    Important Information and Comparison Rate Warning
    Important Information and Comparison Rate Warning

    SocietyOne personal & car loan features

    Personalised interest rates

    SocietyOne offers personalised interest rates, meaning borrowers will receive interest rates tailored to their credit score, employment status, cash flow, and the amount they're looking to borrow.

    The lender 'grades' applicants into four groups. Those deemed to be low-risk with a good credit score can expect a lower interest rate relative to other borrowers.

    Read more: Guide to risk-based personal loans

    Term flexibility

    SocietyOne personal loans can be repaid fortnightly or monthly with terms up to five-years for unsecured loans and seven-years for secured loans.

    No monthly or hidden fees

    SocietyOne loans don't demand monthly fees, early repayment fees, or any hidden fees. Though, borrowers will face an application fee of between $0 and $645 depending on the product they're applying for and the grade they're assigned to.

    The lender will, however, charge a fee for late payments and failed direct debit transactions.

    Digital-only

    SocietyOne is a digital platform and doesn't operate any physical outlets.. Applying takes around five minutes and you’ll get your personalised rate within minutes.

    Provides investors exposure to consumer lending market

    Investors looking to add consumer loans to their portfolio can buy into MoneyMe and SocietyOne's Personal Loans Unit Trust, with a minimum $100,000 initial investment.

    Am I eligible for a SocietyOne personal loan?

    To be eligible for any SocietyOne personal loan, the following requirements must be met:

    1. Applicants must be at least 18 years old
    2. Applicants must be employed and earn at least $30,000 per annum
    3. Applicants must be an Australian citizen or permanent resident
    4. Applicants must have good credit history

      What do I need to provide to receive a SocietyOne personal or car loan?

      To get a SocietyOne personal loan, you may need to supply the following information and documents as part of your personal loan application:

      • ID
        A drivers licence or passport details, for instance.

      • Proof of your income
        This may come in the form of payslips, bank statements, or tax returns.

      • Details about any other debts

      If you’re applying for a secured personal loan, you’ll also need to provide details of the asset to be used as security as part of the verification process.

      The documents required depend on your ownership of the vehicle but it will help to have these things handy:

      • Vehicle identification or chassis number

      • Engine number

      • Registration details

      • Proof of insurance

      • Invoice or proof of private sale if you are purchasing a vehicle  

      Pros and cons of SocietyOne personal & car loans

      Pros of SocietyOne loans

      • Personalised, risk‑based interest rates
        Borrowers with strong credit scores and stable finances may be rewarded with lower interest rates compared to standard lenders.

      • No monthly fees or early‑repayment fees
        Good for borrowers who want predictable costs and the flexibility to pay off their loan early without penalty.

      • Fast, fully digital application process
        Applications take minutes and personalised rates appear quickly, appealing to borrowers who want a streamlined, online experience.

      • Flexible loan purposes and repayment terms
        Secured and unsecured options available from $5,000 to $70,000 with up to 5‑year (unsecured) or 7‑year (secured) terms.

      • Backed by MoneyMe
        SocietyOne operates under a larger, established fintech group, which may provide more stability and resourcing.

      Cons of SocietyOne loans

      • Application fees
        Applications fees can range from $0 to $645 depending on your risk grade, meaning some borrowers may pay more upfront.

      • Higher rates for some applicants
        Borrowers with average or weak credit scores may face noticeably higher interest rates.

      • Digital‑only service
        No branches or physical touchpoints, which may not suit borrowers who prefer in‑person support.