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Personal loans up to $8,000 and up to $12,000 with security on your loan1
Even with a poor credit history, Money3 specialises in giving people a fair go!
If you have bad credit, we may be able to help where other lenders can't. We will look into your current financial situation and commitments, when assessing your application. A bad mark on your credit file may not automatically exclude you from borrowing with Money3, unlike with other lenders.
To assist you getting back on track, when assessing your loan, we will set the amount borrowed and any repayments at an affordable level, so you will be better able to manage your financial commitments, when repaying your loan with us. Building up a good repayment history with Money3 could help get you a better loan in the future.
1. Subject to verification, suitability and affordability
We will look at your application when other lenders won't - Money3 will give you a fair go! If you can pass our basic criteria and we have determined that the loan is suitable and affordable for you, then you could borrow from Money3 - Even with poor credit!
We will consider your loan application1, even if:
1. Subject to verification, suitability and affordability
As long as you meet our basic criteria, bad credit or not, your application has a good chance of being approved1.
Your income form earnings and/ or Centrelink must total $1,600 a month or more and you must be an Australian resident - all good so far? Then you are likely to qualify1.
You Must:
1. Subject to verification, suitability and affordability
A bad credit loan is much like other loan, except the lender specialises in dealing with people with bad credit. The risks for the lender are higher, so the cost of the loan may be higher as well. Someone who has bad credit will most likely get their application automatically rejected from mainstream lenders and so getting a bad credit loan may be a good option.
Yes it could. If you have a bad credit history, you can build up a good payment history with us that can be used to either get a better loan with us or with another credit provider.
Yes, but not all applications get credit checks performed. We only run credit checks after our initial review, if we believe the application has a chance of being successful.
If your previous loan has now been repaid, then it shouldn't negatively affect your application. However, any previous unpaid defaults are taken into account when assessing your application.
Sorry, no. If you are currently bankrupt, we will be unable to offer you a loan.
1. Subject to verification, suitability and affordability
| Borrow | Costs | Repay |
|---|---|---|
| $2,500 | $1,310 | $3,810 |
| $3,000 | $1,573 | $4,573 |
| $4,000 | $2,097 | $6,097 |
| $5,000 | $2,621 | $7,621 |
| $6,000 | $3,145 | $9,145 |
| $7,000 | $3,669 | $10,669 |
| $8,000 | $4,193 | $12,193 |
| EXAMPLE: An unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,621 and a total repayment of $7,621. 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 29.50%. The Comparison Rate, based on a loan of $5,000 over 24 months, is 45.43% EXAMPLE: A secured personal loan of $8,000 for 24 months has fees and charges totalling $4,193 and a total repayment of $11,920. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 27.00%. The Comparison Rate, based on a loan of $8,000 over 24 months, is 42.77% 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: The chart above refers to unsecured personal loans settled online with Money3 Corporation Limited. Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Money3 branches offer different loan products and so different charges are applicable. Learn More. |
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