2MoneyPlace

MoneyPlace

4.9

1,171 reviews · Statistics

PositivevsNegative
98% · 1,14814 · 1%
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • Thumbnail
  • See all reviewer photos
    Thumbnail
Transparency
4.7 (911)
Customer Service
4.8 (952)
Loan TypeFixed Rate (754), Variable Rate (82), Line of Credit (16) and Split (1)
Application Process
4.8 (964)
Timeliness
4.8 (958)
Loan Term6.264 years
Quick and easy to deal with
Helpful customer service
Reasonable rates
See the Best Personal Loans in 2023 as rated by Australians on ProductReview.com.au.

Details

About MoneyPlace

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.

2023 ProductReview.com.au Awards logo

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.

CategoryPersonal Loans
Offers Peer-to-Peer LendingNo
Interest RateFrom 6.52% p.a.
Comparison Rate From 6.95% p.a.
Repayment FrequencyFortnightly, Monthly and Weekly
Loan Amount $5,000 to $80,000
SecuritySecured and Unsecured
Rate TypeFixed
Redraw AvailableNo
Line of Credit Available No
Visit official website

Contact info for MoneyPlace

Mon9:00 am - 5:00 pm
Tue9:00 am - 5:00 pm
Wed9:00 am - 5:00 pm
Thu9:00 am - 5:00 pm
Fri9:00 am - 5:00 pm
SatClosed
SunClosed
  • ABN: 64601045578

Reviews

1,171 reviews
JEFF
JEFF Perth, WA · 2 posts

Quick & easy

Francesco
Francesco Greater Melbourne (Metropolitan), VIC

Perfect could not have done it without you

Jesse L.
Jesse L. Central, SA

Personal loan

Jim Innes
Jim Innes Perth, WA

Personal loan review

Personal Loans

Find out how MoneyPlace compares to other Personal Loans

Know better, choose better.

Compare all
Dani
Dani Perth, WA

OMG amazing stress free

James P.
James P. Hunter Region, NSW

Fantastic

Samantha Newton
Samantha Newton South East Queensland, QLD · 2 posts

Easy process and speedy!

Tanya
Tanya

Personal and Efficient

Brendan Cloonan
Brendan Cloonan

Personal loan

Personal Loans

Find out how MoneyPlace compares to other Personal Loans

Know better, choose better.

Compare all
Lilly
Lilly

Life saver

Transparency
Customer Service
Application Process
Timeliness
Ebo
Ebo

Great Lenders

Transparency
Customer Service
Application Process
Timeliness
Phillip
Phillip

Great company to go to for finance

Personal Loans

Find out how MoneyPlace compares to other Personal Loans

Know better, choose better.

Compare all
Chris
Chris Perth, WA

Highly Efficient & Wonderful Staff

Taffy
Taffy · 2 posts

Easy to work with

Shohel
Shohel

Perfect loan service

Fastest and easiest way to get personal loan sorted. Thanks MoneyPlace.

Questions & Answers

Emmy R.
Emmy R. · 

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

Guest
tee page
tee page · 

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?

MoneyPlace
MoneyPlace · 

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 feedback@moneyplace.com.au and we'll try to respond as quickly as possible.

tee page
tee page · 

Well done, thank you.

Guest
Kelly Rogers
Kelly Rogers · 

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

MoneyPlace
MoneyPlace · 

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.

Guest

Get an answer from our members and MoneyPlace representatives

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.

©  ProductReview.com.au Pty. Ltd. All Rights Reserved. General disclaimer: All third party trademarks, images and copyrights on this page are used for the purpose of comparative advertising, criticism or review. This is a public forum presenting user opinions on selected products and businesses, and as such the views expressed do not reflect the opinion of ProductReview.com.au. Further details in the disclaimer.