SocietyOne disrupted the Australian personal loans market in 2012 when it became the first peer-to-peer or marketplace lender. SocietyOne operates differently to the traditional banks. As a peer-to-peer lender, SocietyOne doesn’t provide the finance for a loan; instead, it connects borrowers with willing investors.
SocietyOne is an online-only operation, which means it doesn’t have branches. You can apply for loans online however they also have a customer service line if you need to speak to someone.
Pros and cons
- Lower rates for people with good credit scores
- No need to provide security
- No ongoing fees
- Higher rate for customers with a below average credit history
- Upfront fees
- Online only - no branch access
Personal loan repayment calculator
Thinking about taking out a personal loan with SocietyOne? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how SocietyOne personal loans compare with other options.
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Your estimated repayment
at interest rate 5.95 %
Total interest payable
Total amount payable