Best Loans in Australia in 2018!

SocietyOne - description of the lender

Loan amount

$5000 - $50000

Loan term

2 - 5 years

Company

SocietyOne is one of Australia's leading marketplace lenders. SocietyOne is an online financial community that connects borrowers and investors. Borrowers get better rates. Investors get solid returns.

Interest

Max. APR 28.48 %

Representative example

Loan amount: $10 000, Loan term: 3 years, Total const of loan: $11264.49, Monthly repayment: $312.90, APR: 7.90 %

Age restriction

You must be at least 21 years old

Application processing time

- Get a rate estimate based on your credit grade in 2 mins.
- Complete our easy online application in 10 mins.
- We will assess your application, fund your loan and get back to you with a loan offer on the same day.
- Once you finalise your loan, get your money within 72 hours.

Requirements

- You are an Australian citizen or permanent resident.
- You are at least 21 years old.
- You earn more than $25000 p.a.
- You are able to afford the loan.
- You have at least 2 years of good credit history on the Credit Bureau.
- You are not in Hardship with any other financial provide.
- You do not have a pending, current or previous bankruptcy.
- The loan is for you, personally, not for anyone else or a business

Registration number

ACN 151 627 977
Australian Credit Licence No. 423660

Important information

How is Peer to Peer Lending different from a bank loan?

SocietyOne is not a bank and will not become one. P2P lending provides a different and interesting alternative for creditworthy borrowers and fixed income investors to get a better deal. Part of the attraction of P2P lending is that it can provide better rates and returns without the infrastructure cost and complexity that comes from being a traditional bank or deposit-taking institution.


Establishment Fees:
- Grade AA: 2.00 %
- Grade A: 4.00 %
- Grade B: 4.50 %
- Grade C: 4.75 %
- Grade D: 5.00 %

The establishment fee is added to your loan; the amount is based on your SocietyOne loan grade and the loan amount. A $35 fee applies if you need to vary your loan.


Default Fees:
- Late/overdue payment Fee: $35 per late payment.
- Direct Debit Dishonour Fee: $25 per dishonour.
- Enforcement Expenses: If you fail to repay your loan, you will be liable to pay all expenses reasonably incurred by SocietyOne in enforcing or preserving its rights under the loan.

Office hours

Monday-Friday: 8am-6pm

Address

Office: Level 2, 56 Pitt St, Sydney, NSW, 2000
Mailing address: G.P.O. Box 5175, Sydney, NSW 2001, Australia

Additional information

Phone: 1300 144 221
Email: customer.service@societyone.com.au

Other offers

Minimum loan amount
$4000
Maximum loan amount
$40000
Minimum loan term
18 months
Maximum loan term
7 years
APR
8.95 - 16.95 %
Minimum age
18 years
Loan granting
Excellent
Online application
Apply Now nowfinance.com.au
Requirements:
  • - You must be at least 18;
  • - You must be an Australian citizen or permanent resident;
  • - You must be employed for at least 6 months;
  • - You must have no active payday loans;
  • - You must have no unpaid defaults;
  • - You must have not been bankrupt or have a court judgement;
  • - Single borrower only - no joint applications.
Representative example: Loan amount: $30 000, Loan term: 60 months, Total amount payable: $38 485, APR 8.95%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$5000
Maximum loan amount
$50000
Minimum loan term
12 months
Maximum loan term
7 years
APR
6.5 - 16.95 %
Minimum age
18 years
Loan granting
Good
Online application
naritas.com.au
Requirements:
  • - You must be at least 18;
  • - You must be an Australian citizen or permanent resident;
  • - You must be employed for at least 6 months;
  • - You must have no unpaid defaults;
Naritas Finance is not a bank nor a lender, but an online broker. Loan terms, conditions and policies vary by lender and applicant qualifications.
Representative example: Loan amount: $30 000, Loan term: 60 months, Total amount payable: $40 233, APR 10.99 p.a.
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
$300
Maximum loan amount
$6500
Minimum loan term
6 months
Maximum loan term
2 years
Max. APR
94.37 %
Minimum age
18 years
Loan granting
Average
Online application
credit24.com.au
Requirements:
  • - You must be a Permanent Resident;
  • - You must be aged 18 years or over;
  • - You must be employed and get paid into your bank account;
  • - You must have a good credit history;
  • - You must earn at least $1,000 in a month;
Representative example: Loan amount: $1000, Loan term: 6 months, Monthly payment: $230, Total amount repayable: $1920, APR: 38 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.