Pepper Money is an award-winning Australian non-bank lender, specialising in personal loans, home loans and car loans. Pepper’s personal loans offer flexible repayment options, where you can choose how frequently you make your repayments, and even pay back your loan sooner. With no establishment fees or ongoing account -keeping fees, you can manage the cost of your personal loan and avoid hidden surprises.
Pepper personal loans are 100 per cent online, so you can quickly and easily apply in the comfort of your own home. Whether you apply online with your computer or use Pepper’s purpose-built mobile-friendly application, your personal loan application can be completed in as little as 15-20 minutes.
Pepper personal loan repayment calculator
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Pros and cons
- No application fees
- No ongoing fees
- Can apply online
- Early repayment fee
- No branch access
- No redraw facility
Pepper personal loans rates
Go to site
Variable up to 25.99%
based on $30,000 loan amount for 5 years
Fully drawn advance
Fixed up to 25.99%
based on $30,000 loan amount for 5 years
Fully drawn advance
Features of a Pepper Money personal loan
Pepper Personal Loans are structured with minimal fees – there’s no application fee or ongoing fee to worry about. Using these flexible personal loans, you can borrow between $5,000 and $50,000 for a variety of different purposes, including debt consolidation, or paying for holidays, renovations or weddings.
Once you’ve completed the short online application for a Pepper Money personal loan, you should receive your funds the next business day following approval – often within 48 hours.
Pepper Money personal loans can be used for a range of different purposes including:
- Debt consolidation
- Medical bills
- Student fees
Pepper Money personal loans – customer service
Pepper Money doesn’t have any branches, but you can apply for a personal loan with Pepper Money online. You can also talk to them via the phone:
- Online enquiry
- Phone, Monday to Friday, 8:00am - 6:00pm (AEDT)
Who is eligible for a Pepper Money personal loan?
To be eligible for a Pepper Money personal loan you’ll need to meet the following criteria:
- Be 18 years or over
- Be an Australian citizen or permanent resident
- Have proof of income and employment
- Be able to afford the personal loan repayments
How to apply for a Pepper Money personal loan?
To apply for a Pepper Money personal loan, borrowers can apply online through the website. The application process takes around 15-20 minutes to complete and involves the following steps:
- Once you’ve compared your personal loan options, you can apply online from any device
- Once you’ve completed your personal loan application and provided supporting documentation, Pepper Money will review your application
- Once approved for a personal loan, the funds will be available to you within 48 hours
At the time of application, you’ll need to provide the following documentation:
- Proof of identity
- Proof of income and employment
- Details of any other financial commitments
Pepper Money personal loans review
Each Pepper Money personal loan is calculated to suit the borrower’s circumstances. Depending on what type of loan you choose, your credit rating and several other factors, the rate of interest you’ll pay on your personal loan could range from average to high. However, the lack of establishment and ongoing fees remains consistent across Pepper Money personal loans, which can help to manage some of the costs for these personal loans.
Borrowers who prefer face-to-face customer support should take note that Pepper Money is 100 per cent online. In saying that, borrowers can contact a Pepper Money lending specialist via phone and through email.
Before applying for a Pepper Money personal loan, always do your research and compare your personal loan options to make sure you’re getting a loan that suits your budget, needs and lifestyle.
Can you refinance a $5000 personal loan?
Many personal loans, much like home loans, can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.
If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.
How long does it take to get a student personal loan?
Completing an online personal loan application can often take anywhere from 10 minutes to 1 hour. Depending on your lender, processing your personal loan application may take anywhere between 1 and 24 hours. If your personal loan application is approved, you may receive the money in your bank account the following business day, or even the same day, in some cases.
How much can you borrow with a bad credit personal loan?
Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans – they also get loaned less money. Each lender has its own policies, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.
Can single mothers get personal loans online?
Many lenders offer online applications for personal loans, which can be convenient for borrowers who don’t have a lot of free time. If you’re not confident your personal loan application will be approved, you may want to consider contacting the lender by email, live chat, phone, or by visiting a branch, to discuss your situation before applying.
Can unemployed single parents get personal loans?
It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments. If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan offers – consider contacting the lender before applying. >
What is a personal loan?
A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan – however, the process is easier and faster than taking out a mortgage.
Loan sizes usually range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.
What is a bad credit personal loan?
A bad credit personal loan is a personal loan designed for somebody with a bad credit history. They have higher interest rates than regular personal loans and are also harder to access.
What do single parents need for a personal loan application?
Much like applying for other personal loans, applying for personal loans for single parents will likely require the following:
- Proof of identity
- Proof of residence
- Proof of income
- Details of assets (e.g. car, home)
- Details of liabilities (e.g. credit cards, other loans)
- Loan amount
- Loan term
Do student personal loans require security?
While some personal loans can be secured by the value of an asset, such as a car or equity in a property, student personal loans are often unsecured, with higher interest rates.
Some lenders also offer guarantor personal loans to students. These loans have lower interest rates, as a guarantor (usually a relative of the borrower with good credit) will guarantee the loan, taking on the financial responsibility if the borrower defaults.
How can I get a $3000 loan approved?
Personal loans and medium amount loans from responsible lenders don’t have guaranteed approval, as the lender will want to check that you can afford the loan repayments on your current income without ending up in financial hardship.
Having a good credit score can increase the likelihood of your personal loan application being approved. Bad credit borrowers who opt for a medium amount loan with no credit checks may need to prove they can afford the repayments on their current income (Centrelink payments may not count – so you should check with the lender prior to making an application).
How long will I have bad credit?
Most negative events that appear on a personal’s credit file will stay in their credit history for up to seven years.
You may be able to improve your credit score by correcting errors in your credit report, clearing outstanding debts, and maintaining good financial habits over time.
What causes bad credit ratings/scores?
Failing to repay loans and bills will damage your credit score. So will falling behind on your repayments. Your credit score will also suffer if you apply for credit too often or have credit applications rejected.
What interest rates are charged for personal loans?
Lenders aren’t allowed to charge interest on loans of $2,000 and under. Instead, they make their money by charging a one-off establishment fee of up to 20 per cent and a monthly account-keeping fee of up to four per cent. Lenders might also ask you to pay a government fee.
For loans between $2,001 and $5,000, lenders can make their money in only two ways: a one-off fee of $400 and annual interest rates of up to 48 per cent.
For loans of $5,001 and above, or for loans that have terms longer than two years, lenders can charge annual interest rates of up to 48 per cent. (Those fee caps don’t apply to loans offered by authorised deposit-taking institutions such as banks, building societies or credit unions – although such institutions are highly unlikely to charge interest rates of anywhere near 48 per cent.)
Are there low doc personal loans?
Self-employed borrowers may be eligible for low doc personal loans, which require less documentation in their application process than many other personal loan options.
It’s important to remember that though low doc personal loans may require less paperwork, you may need to provide additional security, or pay a higher interest rate.
What documentation is needed for a self-employed personal loan?
Personal loans may require a borrower to provide proof of identity, proof of residence, details of any other outstanding loans (including credit cards), details of assets they own (e.g. savings, car, property), and proof of income.
While borrowers in full-time or part-time employment can often provide payslips and similar documents to prove their income, self-employed borrowers may need to provide other information, such as bank statements or tax returns, to demonstrate that their income can cover a loan’s repayments.