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Wherever you are in Australia, from Victoria to the top end, MoneyMe has a range of credit options designed to be quick, easy, and straight-forward. We offer personal loans in Melbourne to all permanent Australian residents from the CBD down to Dandenong, from Werribee to Bundoora. Wherever you are, you can access fast and painless finance from Australia’s dedicated online lender.

That’s right, we don’t actually have a branch office. We keep our overheads low and our tech-savvy customers happy by providing a no-nonsense, no-bull application process all online that you can complete from your mobile. As a MoneyMe customer, most of our communication will come via text or email. We probably won’t ever have to call you. We definitely won’t keep you in suspense for days wondering whether your application has been approved. Instead, we offer same day loans and we really mean that.

Applications take just minutes to complete and submit all online and because it’s a low doc personal loan application, all you will need is a few forms of identification to finalise your form and submit it. When you apply within our business hours you can typically expect an instant approval received within the hour. When you’re happy with your loan offer from us then simply digitally sign and return your loan contract (all online) and we’ll transfer your new funds immediately. Depending on who you normally bank with, money can be received on the very same day that you applied with us.

We know what our customers want, and we’ve developed our credit process to align with it. You want quick finance and you want it with minimal fuss. You want to be able to view your MoneyMe account whenever you need it, and you want a fully intuitive online dashboard that shows your full transaction history immediately. We’ve worked hard to deliver the fastest and most simple online lending solution so that you can get on with living your life rather than waiting around for the finance you need.

What do you need to apply for a personal loan in Melbourne?

When you apply for personal loans Melbourne with MoneyMe all you need is 5 minutes to complete and submit our online application form. You will also need to be at least 18 years of age, currently employed, and a permanent resident in Australia.

We have developed an online application process designed to deliver fast cash when you need it. We don’t ask for reams of paperwork and we probably won’t even need to call you about your application. Instead, we use the power of the internet to validate your application details fast. When you have completed your application, you will be asked to provide your online banking details. This is powered by illion’s bank-level encryption software which keeps all of your data secure. Your personal loan broker doesn’t access your account but receives a PDF format (read-only) 90-day banking statement from your online banking platform. We use this statement to verify your income details and your expenses ensuring that we perform a thorough, fair, and fast assessment of your easy finance application. Once verified, you receive a personal loan offer for us tailored to your credit experience and capacity.

As standard with all applications for credit that we receive, we will also take a look at your credit file and your credit history. We understand that a person’s credit file doesn’t offer a complete picture of your current finances so don’t stress if your file isn’t quite as good as it could be. As a responsible lender, MoneyMe thoroughly checks all applications that we receive and assigns applicants an internal credit rating. This credit rating increases with every successful quick loan you repay on time. For the next quick cash loan you apply for, your credit rating with us increases allowing you to access lower fees and interest for your new finance.

How much can I borrow with a personal loan?

The MoneyMe range of financial loans is available for balances between $5000 and $50000. You can apply for long term personal loans to cover expenses like costly medical procedures, tuition fees for new courses, or post-graduate degrees a well as myriad other life events that an instant loan can help you out with.

For anyone in Melbourne searching for a more flexible credit option, we also offer the Freestyle Virtual Mastercard®. This is a revolving line of credit available for balances of between $1000 and $20000 and it works just like any other credit card. We call it a virtual credit card because it’s an online credit card. Rather than taking up space in your wallet with the rest of your plastic cards, the Freestyle credit option lives on your smartphone. You can use it in-store wherever Tap n Pay is accepted as well as for quick and easy online shopping. You can also transfer cash amounts from your Freestyle credit line to your normal banking account (or another person’s).

Unlike a personal loan, Freestyle is a revolving credit line which means that even partially repaid credit balances create new credit that you can draw from. There is no personal loan redraw facility available for our personal loans in Melbourne so if you think that being able to redraw on your credit regularly – or even just from time to time – is something that would suit your financial situation better, consider applying for the Freestyle account.

Can I increase my personal loan amount?

Increasing a personal loan balance is a popular way that credit customers can use to refinance a personal loan, opening up new credit to pay off small debts or clear up unexpected expenses that arrive such as the need for a new car, expensive mechanical repairs, or even home repairs. Increasing your personal loan with MoneyMe must be done with a new application. You can apply for a new personal loan quickly and easily. If your credit file is good and your current history with us is also good, then you could be approved for the new amount you need fast. Simply advise in your loan application how much you need (including to clear out your current personal loan with us) and ensure that you have checked using our personal loan repayment calculator that the new balance is comfortable and affordable for you.

Of course, you also have the option of applying for a Freestyle account with us instead which already offers you instant redraw on your pre-approved credit balance when you have repaid part or all of your current credit with us.

How does taking a personal loan affect your credit?

Your credit file reflects all of your current personal credit so approval for a new loan will show up. Only when you are reaching your maximum credit capacity – or if you have had trouble repaying loans and other credit in the past – will your credit score begin to be negatively affected. Fortunately, recent changes in how money lenders view credit files have helped to provide a better picture of an applicant’s financial status. For example, now the past 24 months' credit history is visible to a loan broker so they can see not only what may have defaulted but what efforts an applicant has made to redress any issues on their file.

It’s a good idea to keep a regular eye on your credit file to ensure that your current credit is affordable and to guard against potential credit theft entries. You can access your personal credit file quickly and easily online. It’s also free to get a copy of your current credit file.

Ready to apply for personal loans in Melbourne? Get started now: submit your application, wait for a loan decision and receive your funds same-day.