MoneyPlace Personal Loan Review


Are you looking for a personal loan from MoneyPlace? Learn what you need to know about this lender, and find out how their personal loans stack up against the competition.

What is MoneyPlace?

MoneyPlace is a non-bank lender that provides personal loans, auto loans, and other specialty loans such as travel and wedding loans.

MoneyPlace offers unsecured loans to Australians.

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

MoneyPlace claims that its loans are simple, 100% online, and tailored to your individual circumstances.

Why choose MoneyPlace?

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

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

“Since then, we’ve helped tens of thousands of clients borrow hundreds of millions of dollars at rates well below those offered by 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 lowest rates in the market, a $ 0 set-up fee, no ongoing charges and no prepayment penalties, MoneyPlace offers some of the best loans on the market.

MoneyPlace says its overwhelmingly positive customer reviews are a testament to its principle of doing everything possible to treat every customer as a person.

“When you apply for a loan with MoneyPlace, your application will be assessed by your own dedicated loan specialist at our Melbourne head office – not by a limited company that treats you like a number,” MoneyPlace said.

“Our loans are quick and easy with advantageous rates and no hidden fees. Our applications are 100% completed online, take approximately 10 minutes to submit, and are usually funded within one business day.

MoneyPlace personal loans

Rates based on a $ 30,000 loan for a five-year term. * Disclaimer: This comparison rate is only true for this example and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different compare rate, the rates are correct as of January 10, 2022. See disclaimer.

Important people at MoneyPlace

  • michelle sparsi
    CEO

  • James smith
    chief technology officer

  • Vincent vincent
    Head of Design

MoneyPlace personal loan: Important details

Rate type

Fixed rate

Minimum

$ 5,000

Maximum

$ 80,000

term of the loan

3 years
5 years
8 years

Reimbursement options

Weekly
Bi-monthly
Monthly

Additional reimbursement costs

$ 0

Prepayment charge

$ 0

Redraw

No

Frequently Asked Questions:

What is the usual approval time for a MoneyPlace personal loan?

MoneyPlace has a fully online process for accessing money quickly. On his website, he claims a loan approval time of 1-2 business days.

What other loans does MoneyPlace offer?

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

Who can apply for MoneyPlace personal loans

To apply for a MoneyPlace personal loan you have to be:

  • A natural person aged 18 or over

  • An Australian citizen or permanent resident

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

You must not:

“We take a number of factors into consideration, including a borrower’s income, employment, credit history and financial behavior to get a holistic view of our client’s financial situation,” said a spokesperson. word of MoneyPlace.

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


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Looking for a personal loan? The table below shows unsecured personal loans with some of the lowest interest rates in the market.

Rates based on a $ 30,000 loan for a five-year term. * Disclaimer: This comparison rate is only true for this example and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different compare rate, the rates are correct as of January 10, 2022. See disclaimer.


Image by Visual Stories via Unsplash

The entire market was not taken into account in the selection of the above products. On the contrary, a small part of the market has been envisaged. Products from some vendors may not be available in all states. To be considered, the product and the price must be clearly published on the website of the supplier of the product. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au and Performance Drive are part of the Savings Media group. In the interest of full disclosure, the Savings Media Group is associated with the Firstmac Group. To learn more about how Savings Media Group handles potential conflicts of interest, as well as how we are paid, please visit the website links at the bottom of this page.


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