Fixed up to 15.29%
of loan amount
$10k to $50k
based on $20,000 loan amount for 3 years
- No ongoing fees
- No early repayment fees
- Can apply online
- Cannot apply in branch
Early Exit Penalty Fee
Missed Payment Penalty
Redraw Activation Fee
Available to 457 Visa Holders
Line Of Credit
of loan amount
$10k - $50k
Investors bid to fund your loan in our loan marketplace, which helps you get the best rate. Receive the funds within 72 hours of accepting an investor's bid.
Compare and review personal loans with similar features
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.
It can be hard to improve your credit score, as it usually requires sacrifice and discipline, but hard doesn’t necessarily mean complicated. Some simple ways you can give your credit score a boost include closing extra credit cards, reducing your credit card limit, pay off any loans and make loan repayments on time.
As a general rule, the lower your credit score, the more remedies you can apply and the greater the scope for improvement.
Some lenders will consider personal loan applications from a borrower with bad credit if the borrower has a family member with good credit willing to guarantee the loan (a guarantor).
If the borrower fails to pay back their personal loan, it will be their guarantor’s responsibility to cover the repayments.
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 documents, such as bank statements or tax returns, to demonstrate that their income can cover a loan’s repayments.
If you’re having trouble being approved for a loan of less than $2000 and urgently need to purchase household essentials, there may be emergency loan options available to you.
For example, the No Interest Loans Scheme (NILS) allows low-income borrowers to take out interest-free loans of up to $1500 for essential goods and services.
For further assistance, consider contacting a financial counsellor, or calling the National Debt Helpline on 1300 007 007