MoneyPlace is a personal loan provider that lets you borrow between $5000 and $80,000, with loan terms ranging from 3 to 7 years.
It has an 100% online application process that takes around 10 minutes, and it takes 1 to 2 business days for the application to be processed and for you to receive a decision on your loan. You then receive your money usually within 1 business day.
Points of praise:
- Most reviewers found that MoneyPlace was quick and easy to deal with, with reviewers being helped in a timely manner and their loan applications being processed speedily.
- They also said that the customer service was helpful, with brokers taking the time to understand their requirements
- Reviewers said that the rates on their loan were reasonable.
MoneyPlace has taken out a 2023 ProductReview.com.au Award in the Personal Loans category. Reviewers loved the smooth application process and the excellent customer service they experienced.
|Offers Peer-to-Peer Lending||No|
|Interest Rate||From 6.52% p.a.|
|Comparison Rate||From 6.95% p.a.|
|Repayment Frequency||Fortnightly, Monthly and Weekly|
|Loan Amount||$5,000 to $80,000|
|Security||Secured and Unsecured|
|Line of Credit Available||No|
Contact info for MoneyPlace
|Mon||9:00 am - 5:00 pm|
|Tue||9:00 am - 5:00 pm|
|Wed||9:00 am - 5:00 pm|
|Thu||9:00 am - 5:00 pm|
|Fri||9:00 am - 5:00 pm|
- ABN: 64601045578
Quick & easy
Loved how quick the process was. I guess my only issue was why do you care how i use the money. Your only concern should be if i am able to pay my repayments off.Show details
Perfect could not have done it without you
Thank you Money Place you were unbelievable quick and efficient, could not recommend you guys highly enoughShow details
Very easy and fast to get a personal loan. Trouble free and very helpfulShow details
Personal loan review
Amazing, went through a broker but everything was so quick and easy, good rates and t&c's, uploading financial records was so easyShow details
OMG amazing stress free
I had been refused by banks for a loan, for stupid reasons. Nathan looked after me and made this such an easy and stress free service. I applied on the Monday and money was in my bank by Thursday morning.
Easy, stress free, Customer service was awesome, Nathan communicated every step of the way. would defiantly recommend
Couldn't of done anymore.
Easy to deal with.
Made the whole process very easy
Easy process and speedy!
Fast service stress free which is great. Would go through again.Show details
Personal and Efficient
Team member was excellent to deal with, very quick responses and communicated information without me requesting the details. This made things much easier and extremely efficient.
Very happy with the service,
It was quick and smooth I thank you very much
Amazing customer service
Only issue I had was needed to pay a previous debt before they would approve the loan, less then $300 ...
Was hoping to pay it with the loan money but wasn't allowed
Other then that money went in quick and it did save me just in timeShow details
Happy to consolidate my older loan into a new one and drop the rate slightly. Anytime early and lump sum payments also a real handy thing to have. Highly recommendedShow details
Great company to go to for finance
So easy to deal with and online stuff is even easier. When you ring they're right onto what you need.Show details
Highly Efficient & Wonderful Staff
Recently separated I was in desperate need of a loan to keep finances afloat.
From the first call, staff were wonderful, efficient and happy for email or text.
Rates were competitive and finance approved quickly.
Easy to work with
They are quite easy and fast in this area.Once I had provided requested information,it wasn't long before they settled the loanShow details
Perfect loan service
Fastest and easiest way to get personal loan sorted. Thanks MoneyPlace.
Questions & Answers
Hi, I'm looking for a loan to refinance my current loan of $26500 and I would like $3500 for large household items, $30000 total. What type of loan do I apply for, can I give multiple reasons in application for loan? Thank you
1. You advertise no fee for early payout and advace paymets.
If the approvall/opening balance is $48,810 at 7.65% for 5 years on 1sep2022
and I pay for equal payments of $12, 202.5 weekly (7th , 14th, 21st, 28th sep) tell me what will be my final payment on 28th sep. wil the final payment in 4 weeks be $12, 481 ? ( with only 1 month interest of $279.00)
if not, please explain.
please figure it out and provide accurate answers here to the public for money place to be held account. i do not want to argue in the end about what wasnt told to me, or I didnt know.
2. also answer that why do banks advise against leders asking for bank acount login details and refuse to insure against any loss or theft if this system is a legitamit banking system. it it goverment aproved?
Hi, Tee. You're broadly correct about the interest and final payment, however the final payment at the end of the month would actually be only $168.80, because the four weekly payments would reduce your loan balance throughout the month, which reduces the interest you would be charged.
Interest is calculated daily, based on the actual loan balance that day (not just the value from the start of the month), and applied to the loan balance at the end of a month. In your example, after you made your fourth payment, your loan balance would be zero and you would accrue no further interest for the last 3 days of the month, after which, all that would remain is the $168.80 in interest that was accrued throughout the first four weeks.
And yes, there are no extra fees added on for closing out a loan early -- it's just the principal and the interest charged.
I can't speak to why banks do or don't advise anything, however can assure you that MoneyPlace operates in accordance with our Australian Credit Licence, and handle our customer data in accordance with he Privacy Act 1988 (Cth) and the Privacy (Credit Reporting) Act 2014.
Hope that helps. If you have any further questions, feel free to email them to email@example.com and we'll try to respond as quickly as possible.
Well done, thank you.
Was seeing what the interest rate for $5,000 paying it of weekly. It would be a personal loan to pay some little outstanding debts i have at the moment. or if it would be better to apply as debt consolidation loan
Hi Kelly. Weekly repayments for a $5,000 loan could be somewhere between approximately $24 and $36 per week, for a 5 year loan, depending on the interest rate. To find out how much your loan repayments will be, you just need to check your rate on the website at https://moneyplace.com.au/apply. It takes just a couple of minutes, is obligation-free and does not affect your credit score. Hope this helps.
Get an answer from our members and MoneyPlace representatives
- Award Winner 2023
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