Easy, fast and online

MyOzMoney introduces a modern way of borrowing cash. Using an advanced loan management platform, you may get access to personal loans up to $50,000 in a matter of minutes. Apply online, get a fast personal loan application outcome, and receive the funds in your bank account within minutes. Everything is smooth and happens online, from your application up to getting your extra cash – even your loan contract is signed off digitally. No paperwork, no long queues and no hassle.

What is a personal loan?

A personal loan is a type of loan where you borrow money at a fixed rate and repay fortnightly or monthly over a fixed duration. You can use it for a wide variety of reasons, such as paying for car repairs, home improvements or wedding expenses. Personal loans give you access to easy money so you can purchase and pay for the things you need right now.

How to get a personal loan

The conventional lending process usually equates to lengthy forms, several days of waiting and frequent phone calls. Here at MyOzMoney, we revolutionise the way credit works by constantly evolving our products to build relevance to this generation’s growing demands for fast and simple services. We make sure you have access to fast credit, whenever and wherever you are.

To be eligible to apply for loans with us, you must be a citizen or a permanent resident of Australia, at least 18 years old and currently employed. If you meet all three requirements, then you’re all set to apply.

Our advanced data technology allows you to experience a seamless and entirely online loan application process. Just fill out the application form with your personal details, requested amount and duration. If you’re applying during business hours, you get quick loan outcomes with the money transferred to your bank once approved. It’s low doc and simple!

We also ask for your online bank details so we can fast track the outcome of your application for cash loans. You don’t have to worry, because we are only able to obtain a read-only copy of your 90-day bank statement history using a safe portal with the same level of security as your bank. The documents come in a PDF format only, so rest assured that we cannot access your banking login details in any way.

As an online lender with an Australian Credit License, we’re all about fair and responsible lending. We only offer loan terms that you can comfortably repay. Apart from your credit score, we also look into various factors such as your credit history, income, financial commitments and living expenses. This way, you get a personal loan rate that is fully customised to you.

Comprehensive Credit Reporting (CCR) has positively changed the way money lenders assess your credit behaviour. Not only it shows your ongoing fees, recent defaults and incurred debts, but also your positive credit behaviour for the last 24 months and your good repayment history. This comprehensive credit report allows us to come up with fairer loan decisions and give you flexible loan terms when you apply for a loan with us.

Know your ideal rate

You may be considering to take out a personal loan, but not quite sure how much and how it will affect your current financial commitments. By using a personal loan calculator, you get a clearer picture of how your fees and charges would look like, such as your monthly repayment and establishment fees. We align your repayments with your current pay cycle, so you don’t have to think of getting late fees. One less thing to worry about.

This loan calculator is online and super easy to use, and you must get access to your calculations before applying for a line of credit, personal loans or same day loans. How to use it: just select your preferred loan amount and the duration of your repayments and you’ll get your expected personal loan rates, right then and there!

Increase your personal loan amount

Using the data we have obtained through the comprehensive credit report, we may be able to reward you for your positive payment behaviours. If you have successfully paid off your personal loan, we may re-evaluate your profile. If you make repayments on time, your credit score with us improves, which means you may get access to better loan terms and offers.

Structured repayment plan

Personal loans may come in the form of a line of credit, cash advance or express cash. All of them have fixed interest and paid over a fixed duration for a variety of reasons. The structured repayment plan of personal loans allows you to adjust your discretionary spending to meet your objectives and make comfortable repayments. This way, you can make upfront and immediate payments without hurting your savings.

Manage your education fees

Have you started thinking about college? You may have been offered a slot at your prospective university and seeking various forms of financial aids to fulfil your college dreams, and taking out personal loans might be on your list. Aside from the course fee itself, a student loan can also provide fast and easy payment options for your student accommodation, textbooks and other essential learning tools. It is also suitable if you’re considering taking the next step to your education, such as enrolling for a master’s degree or simply wanting to take short online courses to enhance the current skillset you have.

Unsecured personal loans for your car

Or you may be eyeing that car for quite a long time now, and it’s suddenly available at a cheaper rate for a limited amount of time. Getting your own car may seem like a farfetched dream with your current cash flow, but with an unsecured car loan or personal loans from MyOzMoney, you can finally turn your dream vehicle purchase into a reality. It is convenient, and the rates are tailored to you.

Extra cash for travels

Paying for your travel fees upfront and in full amount is now made easier with MyOzMoney’s personal loans. Now, you can book your next flight even when your miles are not ready for use at the moment. Everything happens online, and there’s no need to wait for your savings or your next paycheck to secure the holiday destination you deserve. It’s fast and simple.

How long do personal loans take to come through?

We remain true to our value of delivering the fastest loan outcomes. If your application for personal loans is submitted during business hours, you will receive an outcome on the same day. On the other hand, applications submitted outside of business hours are processed on the following day.

Once your application for fast loans or small loans has been approved, your money is transferred directly to your bank account. Depending on which bank you are with, transfer times may vary.

Our personal loans are fair, transparent and designed to match today’s busy and on-the-go lifestyles. Taking control of your finances and acquiring fast cash for urgent needs may come across as challenging, but with MyOzMoney, it’s all simple and straightforward.

Personal Loans

Personal loans allow you to make a big purchase, cover unexpected expenses like car repairs and medical bills, or even use them for debt consolidation in which you pay off expensive credit card debts. When used judiciously, they can help you improve and manage your finances. 

At OzMoney, even though our flexible personal loans don’t require any security or collateral, they still come with favourable repayment terms and competitive interest rates. Additionally, we offer a same-day application and approval process that is completely done online; this means no time-consuming paperwork, phone interviews, and lengthy waiting periods that are common in traditional lenders like banks. 

As a tech-savvy lending company, OzMoney is focused on efficiency and convenience.  For this reason, we have developed an online application that takes less than five minutes to complete. The approval process is also done on the same day, which allows us to immediately send the funds directly to your bank account. When we say fast cash and quick personal loans, we really mean it. 

Because we do everything online, we’ve eliminated the overhead costs related to running physical locations; this allows us to offer fixed rate personal loans that are significantly lower than what traditional lenders offer. 

What are personal loans used for?

Whether you need additional financing for your home remodelling, cover unexpected expenses like medical bills and car repairs, or need funds for your credit card debt consolidation or discretionary expenses like vacations, OzMoney offers varying types of personal loans such as same day cash, unsecured loans, travel loan, student loans, and medical loans.

Can I get a personal loan with bad credit score?

If you wonder if OzMoney offers low credit score personal loans, take note that consumer credit score is one of the most important factors we take into consideration during the approval process. Nevertheless, we look at your entire circumstances, including your current income, living expenses, and debt obligations so we can come up with a fair loan decision. 

How is the loan amount calculated?

When you apply for personal loans using our easy online application form, you need to fill it out with your personal and bank details and the amount of money you need to borrow. It only takes a few minutes for us to check your eligibility and make a loan decision. Once approved, we’ll immediately send the funds to your bank account. 

The approved amount depends primarily on your credit score, which predicts how likely you are to repay a loan or line of credit on time. Take note that we will ask for your permission before we access your consumer credit profile from Australia’s credit reporting agencies, namely, illion, Experian, and Equifax. 

Aside from your credit score, we also consider your living expenses, debt obligations, and current income. 

Depending on the conditions mentioned above, sometimes we may ask some borrowers to lower their requested amount to get their loan application approved. As an advocate of responsible lending and borrowing, OzMoney ensures that our customers get credit products that they can comfortably repay. 

What happens if I am late on my repayments?

If you’re really struggling with your repayments due to unforeseen circumstances such as job loss and sickness, we encourage you to speak with us so we can come up with a payment arrangement that’s more suitable for you. 

Additionally, OzMoney allows you to change the date of your direct debit schedule at least one business day prior to your due date. 

How long does it take to get a personal loan?

As an innovative financial service company that uses smart data and an easy online application process, once approved you will immediately get your funds. Simply put, the application and approval processes are within the same business day. 

By contrast, banks and other traditional lending companies need an average of seven days to process and approve your loan request and send your funds to your bank account. In extreme cases, it could even take up to 30 business days. 

At OzMoney, our easy and quick application and approval process does not involve time-consuming paperwork and phone interviews. You only need to fill out the online application form with your personal and bank details and give us your permission to access your consumer credit file and your bank’s read-only snapshots of your transaction history. 

How to apply for a personal loan?

Visit OzMoney and fill out our online application form, which takes three to five minutes to complete. Make sure that you submit your bank statements and give us permission to conduct a credit score check. We use a safe and secure portal and adhere to Australia’s data protection laws and privacy policies to ensure that your data is protected. In fact, we can only access read-only snapshots of your bank transaction history in the past 90 days, and no one in our team will know any sensitive details like your username and password. 

If you submit your loan application during business hours, you’ll receive our decision on the same day. But if you send it outside of business hours, we’ll review it the following day. 

To learn more about our competitive rates and flexible repayment plan, visit OzMoney now and choose the type of personal loan that suits your needs.