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Associated fees:
Interest Rate: 6.99% – 26.99% p.a. (based on credit profile)
$295 – $495 establishment fee (depends on loan amount)
No monthly service fees
No early repayment fees
Example Loan Cost:
Borrow $10,000 at 9.99% p.a. over 3 years → Repay ~$12,530
Borrow $30,000 at 14.99% p.a. over 5 years → Repay ~$42,050
Best For:
✔ Medical bills, travel, education, home renovations
Associated fees:
Interest Rate: 6.99% – 26.99% p.a.
$295 – $495 establishment fee
Best For:
✔ Buying a new or used car
✔ Refinancing an existing high-interest car loan
Associated fees:
Interest Rate: 6.99% – 26.99% p.a.
$295 – $495 establishment fee
Best For:
✔ Combining multiple debts into a single payment
Associated fees:
Interest Rate: Variable based on credit profile
$5 monthly fee (waived if repaid in full each month)
Repayment Terms:
Open-ended
Best For:
✔ Everyday spending, shopping, and travel
✔ Fully online process – no paperwork needed.
✔ Most loans receive instant approval using AI-powered assessments.
All information included here on Friendly Finance are accurate and in line with the data available on MoneyMe website as of February 2025.
About MoneyMe
📌 Founded: 2013
📌 Headquarters: Sydney, New South Wales, Australia
📌 Stock Market Listing: ASX (Australian Securities Exchange) under ticker MME
📌 Industry: Financial Services (Personal Loans & Credit Solutions)
📌 Credit Licence: Australian Credit Licence (ACL) 442218
📌 Regulated by: Australian Securities and Investments Commission (ASIC)
📌 Main Services:
✔ Personal Loans (Small to Large Loans)
✔ Car Loans
✔ Line of Credit (Freestyle Virtual Credit Card)
✔ Debt Consolidation Loans
MoneyMe is a digital lender that offers fast, flexible personal loans and credit solutions using AI-powered technology for instant loan approvals. Unlike traditional lenders, MoneyMe provides a fully online experience, offering same-day loan disbursement and a unique virtual credit product (Freestyle Credit Card).
MoneyMe targets tech-savvy borrowers looking for quick financial solutions, particularly those who prefer digital banking over traditional institutions.
MoneyMe: Eligibility Requirements
The application process for MoneyMe is done through the company’s website or you can also easily apply for a loan using this form. To process your loan application, you need to pass MoneyMe's eligibility requirements:
- You must be at least 18 years old.
- You must be a citizen or a permanent resident of Australia.
- Be employed full-time or on a permanent part-time basis.
- Share your bank details as proof of income.
The online application form will ask for information such as your mobile phone number, valid email address, details of your income, and any other bills and responsibilities you currently have. The lender will run a check to find out if you have a bad credit history to make sure you are a responsible borrower that can afford the loan. You will also be required to provide your desired loan amount as well as the purpose of the loan. Using the secure Proviso technology, the firm will access your most recent 90-day banking statements.
Fast and easy online application process
Flexible payment terms
No early repayment fees
Loan products to suit different financial needs
Fast loan disbursement
24/7 customer support
The Company: MoneyMe
There are some positives and negatives for prospective borrowers to consider before using MoneyMe as an online lender. As part of the reviewing process for this page, customer feedback and common questions answered on the company website were considered for the overall assessment.
Positives
- Online application process through the MoneyMe website or the downloadable app.
- Quick turnaround time on approvals and fund transfer/Freestyle Virtual Mastercard activation.
- Positive customer experiences due to great customer service.
Negatives
- Costly payments on penalties such as Dishonour Fees and Overdue account fees.
