What is MoneyPlace?

MoneyPlace is a non bank lender, offering personal loans, car loans and other specialised loans such as travel and wedding loans.

MoneyPlace offers unsecured loans to Aussies.

Unsecured means you can apply without requiring details of an asset to be provided as security for the loan (such as a property or a car).

MoneyPlace says its loans are simple, 100% online and tailored to match your individual situation.

Why choose MoneyPlace?

MoneyPlace spoke to Savings.com.au to explain what sets its apart from other lenders.

“MoneyPlace was founded six years ago on the idea that all Australians borrowers deserved a better deal,” a spokesperson said.

“Since then we've helped tens of thousands of customers to borrow hundreds of millions of dollars at rates far lower than available from the major lenders — saving them millions of dollars in interest and fees.

“When choosing a lender, the most important factor should be the overall cost to you.

“With our market-leading low rates, no ongoing fees and no penalties for paying out your loan early, MoneyPlace offers some of the very best value loans in the market.

MoneyPlace says its overwhelmingly positive customer reviews are testament to its principle of going out of its way to treat every customer like a person.

“When you apply for a loan with MoneyPlace your application will be assessed by your own dedicated lending specialist in our Melbourne head office — not by a faceless corporation that treats you like a number,” MoneyPlace said

“Our loans are fast and simple with great rates and no hidden fees. Our applications are completed 100% online, take about 10 minutes to submit and typically are funded in just one business day.”

MoneyPlace personal loans

Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise. 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. Comparison rates are not calculated for revolving credit products.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of . View disclaimer.

MoneyPlace’s important people

  • Michelle Sparsi
    Chief Operating Officer

  • James Smith
    Chief Technology Officer

  • Nathan Vincent
    Head of Design

MoneyPlace personal loan: Important details

Loan type

Unsecured

Rate type

Fixed Rate

Minimum

$5,000

Maxiumum

$80,000

Loan duration

3 Years
5 Years
7 Years

Repayment options

Weekly
Fortnightly
Monthly

Extra repayment fee

$0

Early payout fee

$0

Redraw

No

Frequently Asked Questions:

How long is the usual time of approval for a MoneyPlace's personal loan?

MoneyPlace has a fully online process for getting access to money quickly. On its website it claims a loan approval time of 1-2 business days.

What other loans does MoneyPlace provide?

MoneyPlace offers specialised loans for a range of unique circumstances, such as wedding loans, medical loans and debt consolidation. For more information visit the MoneyPlace website.

Who can apply for MoneyPlace’s personal loans

To apply for a MoneyPlace personal loan you must be:

  • An individual, 18 years or older

  • An Australian citizen or permanent resident

  • Currently working (earning over $20,000 per year)

You must not:

  • Be in collections

  • Have unpaid defaults

  • Be a recent bankruptee

  • Earn the majority of your income from government benefits

“We take into consideration a number of factors, including looking at a borrower's income, employment, credit history and financial behaviour to gain a holistic view of our customer's financial situation,” a MoneyPlace spokesperson said.

“It is this extra detail we go to that allows us to offer the best possible deal to our borrowers.”


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Personal Loan

    Important Information and Comparison Rate Warning

    All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

    The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise. 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. Comparison rates are not calculated for revolving credit products.

    Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of February 28, 2024. View disclaimer.

    Image by Visual Stories via Unsplash