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We Will Give You a Fair Go!
Unlike the big banks and other financial institutions, Money3 will look at your application afresh - any credit considered - without basing our lending decision completely on your credit file.
We understand that sometimes in life, juggling finances can be tough, and mistakes do happen - even against our best intentions. So even if you have a mark on your credit file, we will look at your current finances, your income and expenses to determine whether the personal loan is affordable to you.
Other applicants with other lenders may get their applications knocked back, due to their income sources. Whether that is from Centrelink*, self-employment, part-time employment or a mix of both. At Money3, we will consider all income sources as valid, when assessing your loan's affordability with us1.
See for yourself - we'll give you a fair go!
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
How it Works
The good news is that the application process is 100% online and can usually be completed in around 5 minutes.
- 01.Check whether you qualify with Money3?
If you are over 18 years old, an Australian resident, and you take home over $480, then you are likely to qualify for a loan with us1
- 02.Apply online in minutes
Your online application is pretty simple and can usually be completed in around 5 or 6 minutes.
- 03.Submit your bank statements
We require 90 days bank statements, which can be sent to us as part of your online application in a couple of minutes. We have partnered with our secure bank statement retrieval service by illoin. Just select your bank and log in, via the illion portal, and you are done!
- 04.Review your application
When we have received your completed application, our assessment team will review your application and the affordability of your loan with us.
- 05.Your loan approval
If everything looks good, we can give you your loan approval, generally in 24 to 48 hours.
- 06.Sign your loan documents
We'll send you a link for you to review the loan terms and sign your loan documents. Once complete, we'll fund your loan.
- 07.Your loan is funded
Your loan funds will be sent direct to the bank account you specified during your application, usually within 24 hours.
1. Subject to verification, suitability and affordability
A Range of Personal Loan Options up to $30,000
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Personal Loan FAQs
A personal loan is essentially a lump sum of money that you borrow from a financial institution or lender. You'll need to pay it back over a set period, generally 2 to 5 years, with interest. It's a convenient way to cover expenses like emergencies, home renovations, car repairs, or even a holiday.
While the terms are often used interchangeably, they are not exactly the same. Personal loans usually offer larger amounts for specific purposes and are paid back over a longer period. Cash loans often refer to smaller amounts that are intended to be repaid quickly. Both types of loans offer you funds when you need them, but the repayment terms and amounts can differ.
You can use a personal loan for a wide range of things - home improvements, rental bonds, car repairs, medical expenses, or even a dream holiday. The choice is yours, but it's always good to borrow responsibly.
If you would like to apply for a personal loan with Money3, we’ll give you a fair go! You must be over 18 years old, an Australian citizen and your minimum take home wage must be $480 or more.
Our personal loans generally have terms ranging between 2 and 5 years with Money3. The exact length will depend on how much you borrow and what you can afford to repay each month.
Use our loan calculator and adjust the loan amount needed, to see how long it will take to repay. The loan term is show, along with your regular weekly, fortnightly or monthly repayments over the loan term.
The maximum amount1 you could borrow is $30,000. However, if you're a first-time customer with 100% Centrelink income*, the maximum loan amount is $10,000. These amounts can potentially be increased depending on your circumstances and repayment history.
If you are looking for a vehicle, then our car finance or vehicle finance is available up to $75,000.
No, we do not offer payday loans. Our focus is on personal loans with longer and more affordable repayment terms, which generally make them a more manageable and responsible borrowing option. See our fast cash loans page for more information.
Yes, you could. With our loans with bad credit, we understand that life happens and sometimes your credit gets affected. At Money3, we look more at the loans affordability and your ability to repay the loan rather than just your credit score. So bad credit doesn't automatically disqualify you. We'll give you a fair go.
Absolutely, you can apply for a personal loan on Centrelink benefits*2. Money3 is not affiliated with, or endorsed by, Services Australia. However, we do offer personal loans to customers receiving benefit payments. For first-time customers on 100% Centrelink income, the maximum loan amount is $10,000. After that, the loan amount may be increased based on your repayment history and other circumstances.
At Money3, we have a 100% online application process, that makes it easier to apply for your personal loan. We will require 90 days worth of bank statements, which can be completed online via our partner, illion in minutes.
Absolutely, there are no penalties for making extra payments or for paying off your loan early. In fact, doing so could save you money on interest over the long term.
If you miss a repayment, the best thing to do is to get in touch with us as soon as possible. We understand that life happens, and we're here to help. We can review your loan terms or make adjustments to your repayment schedule to better suit your situation.
1. Subject to verification, suitability and affordability
2. Your income from Centrelink must be less than 50% of your total income in order to qualify for an unsecured personal loan up to $10,000.
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
More personal loan options for you to consider
Need Extra for Christmas?
The Christmas holidays can be costly. Christmas loans up to $30,000 are available for gifts, travel and other expenses.
Car Repairs
Whether it's to pay for road accident repairs, service costs and repairs, body paint work or a breakdown, Money3 could help up to $30,000.
Holiday Loans
From dream holidays, European adventures and honeymoons to friends' weddings and long weekends away, a Money3 holiday loan could be the answer - up to $30,000.
Bad Credit Loans
At Money3, we'll give you a fair go - even if you have had credit problems in the past. We'll look at your income and expenses to work out whether the loan is affordable for you.
Wedding Loans
Let Money3 help you celebrate. Whether it is help with engagement parties, rings, venue costs, photography, accommodation or the honeymoon.
Medical Loans
Get help with a range of health-related expenses from dental, medical and cosmetic care, also covering hospital and travel costs. Whether planned or emergency treatment is needed.
Home Improvement Loans
We could help your big ideas for your home become a reality. From new kitchens, bathrooms, extensions, swimming pools to solar panels or home security systems - up to $30,000.
Single Parent Loans
As a single parent, Money3 will consider your application as long as your income, either from earnings or Centrelink* is $2,080 a month or more.
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Example Personal Loans Costs Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,110 | $7,110 |
| 24 months at 16.95% APR & 37.39% Comparison Rate | ||
| $7,500 | $5,042 | $12,542 |
| 36 months at 16.95% APR & 37.39% Comparison Rate | ||
| $10,000 | $6,427 | $16,247 |
| 48 months at 16.95% APR & 35.44% Comparison Rate | ||
EXAMPLE: A platinum unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,109.60 and a total repayment of $7,109.60. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 16.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 37.39%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,850.43 and a total repayment of $39,850.43. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 20.38%.
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.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 389067.
