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Pepper Money provides personal loans that can help individuals in funding a renovation, consolidating debts, or going on a holiday. Pepper Money’s flexible loan options are available in amounts ranging from $5,000 (for unsecured loans) and $15,000 (for secured loans) to $50,000.
Pepper Money offers both secured and unsecured personal loans. The interest rates for unsecured personal loans range from 6.75% to 26.95% p.a. (for unsecured loans) and 21.65% p.a. (for secured loans). The specific interest rate offered depends on the borrower’s circumstances and the information verified during the loan application assessment. Repayment terms range from 18 months to 36 months for unsecured personal loans and 84 months for secured personal loans.
There are no establishment fee, monthly fee, default fee, and early repayment fee. But borrowers are still advised to read through the contract and terms to understand other associated fees that may be included.
Pepper Money’s home loan options cater to various scenarios, ensuring that borrowers can find a solution that aligns with their unique circumstances. They go beyond credit scores and take into account factors such as income verification challenges, alternative income documentation, and past credit issues. This flexibility allows them to assist individuals who may have been turned away by traditional lenders.
Pepper Money provides the opportunity to finance up to 95% of the purchase price on certain loans, which means you can begin exploring the possibility of buying a house once you’ve saved at least 5% of the purchase price. However, it’s important to note that the required deposit amount may vary depending on the specific property and location you are considering for your purchase.
Pepper Money offers car loans that provide flexible financing options for individuals looking to purchase a vehicle.
Pepper Money also provides information on refinancing car loans. Refinancing involves changing your lender or loan agreement, which could potentially lead to lower interest rates and reduced repayments. By refinancing with a new lender, the new loan amount pays off the current loan, and regular repayments are made according to the terms of the new loan contract.
The information included here on Friendly Finance is accurate and in line with the data provided on Pepper Money’s website as of February 2025.
About Pepper Money
Pepper Money is a financial services company that provides flexible financial solutions in Australia and New Zealand. Established in 2000, Pepper Money aims to help Australians achieve their financial dreams by offering various lending options and products.
The company has become one of the largest non-bank lenders in the region and has assisted over 327,000 Australians in achieving their goals. Pepper Money offers a range of services, including home loans, car loans, equipment and asset finance, and personal loans from $5,000 up to $50,000.
Pepper Money: Eligibility Requirements
The application process for Pepper Money 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 Pepper Money's eligibility requirements:
- Applicants must be at least 18 years old.
- Applicants must be Australian citizens, permanent residents, or have an eligible visa.
- Applicants hold a current Passport or current Australian Drivers’ Licence (for car loans).
- Applicants must have a regular and verifiable income.
When applying for a loan with Pepper Money, the specific documents required may vary depending on the type of loan and individual circumstances. But generally, here are the documents you will need to apply for a loan with Pepper Money:
Valid identification documents such as a passport or driver’s license
Recent payslips, tax returns, or financial statements to verify your income
Information about your current employment, including employer’s contact details and length of employment
Recent bank statements to assess your financial situation and transaction history
Details about your assets (e.g., property, vehicles) and liabilities (e.g., loans, credit card debts).
Statements from your savings accounts or investment portfolios
Any additional documents that may be relevant to your application, such as divorce decrees, bankruptcy filings, or gift letters.
Flexible repayment options: Pepper Money loans offer a variety of repayment options, including weekly, fortnightly, and monthly repayments. You can also make additional repayments at any time without penalty.
No upfront fees: Pepper Money loans do not have any upfront fees, such as application fees or establishment fees.
Low-interest rates: Pepper Money loans offer competitive interest rates, starting from 2.99% p.a.
Easy application process: The application process for a Pepper Money loan is quick and easy. You can apply online or through a broker.
Fast approval: Pepper Money loans are typically approved within 24 hours.
Personalised service: Pepper Money offers personalised service to each customer. A dedicated loan manager will work with you to find the right loan for your needs.
The Company: Pepper Money
There are some positives and negatives for prospective borrowers to consider before using Pepper Money 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
- Quick and easy application process
- Competitive interest rates
- Flexible repayment options
- No upfront fees
Negatives
- High-interest rates for borrowers with poor credit
- Hidden fees
