Symple Loans personal loan repayment calculator

Thinking about taking out a personal loan with Symple Loans? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Symple Loans personal loans compare with other options.

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at interest rate 10.00 %

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Pros and cons

Pros and cons of a Symple personal loan
  • Strong credit borrowers may get lower interest rate
  • Online application
  • No early repayment fees
  • Poor credit borrowers may get higher interest rate
  • Establishment fee charged
  • Monthly fee charged

Symple Loans personal loans rates

Advertised Rate
Comparison Rate*
Upfront Fee
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based on $30,000 loan amount for 5 years


of loan amount up to 5%

Redraw facility
Extra repayments
Fully drawn advance
Symple Loans
More details

Features of a Symple personal loan

Symple provides unsecured personal loans of between $5,000 and $50,000. Borrowers can pay a loan off over a maximum loan term of seven years.

Symple charges a one-off establishment fee, which is not a flat charge. Instead, the fee amount depends on how much you borrow. Symple also charges ongoing fees, late fees and dishonour fees. There are no penalty fees for early repayment.

This lender’s personal loan rates may vary depending on your credit history. Its lowest rates are very low when compared with other unsecured loan options on the market, but its highest rates are very high.

Symple personal loans – customer service

Symple is a 100% digital lending company, so it operates no physical branches. Customers can contact Symple by phone, online enquiry, email and SMS messaging. You can call Symple from 9am to 5pm (AEST) on weekdays.

If you can’t reach a representative in those hours, you can also schedule a call-back from Symple at a time that suits you.

Who is eligible for a Symple personal loan?

  • Must be over the age of 18.
  • Must be applying as an individual (no joint applications).
  • Must be an Australian citizen or permanent resident, and living in Australia.
  • Must be employed and earn at least $25,000 per year.
  • Not currently bankrupt.
  • Self-employed borrowers must have been trading for at least two years and be able to provide their most recent tax return details.

How to apply for a Symple personal loan?

The application process takes about seven minutes and can be done through Symple’s website.

  1. Get your estimated interest rate and review the quote.
  2. If you decide to proceed, make and submit a formal application on Symple’s website.
  3. You should get a response in one minute, based on the provided details.
  4. If approved, you may receive the funds within one business day.

To help with your application, prepare the following documents before applying:

  • Proof of ID (such as your driver’s licence or passport)
  • Internet banking credentials (to send Symple your bank statements)

Symple personal loans review

Symple is an option for people looking for a non-bank alternative that has a focus on digital technology.

As Symple is an online-only lending platform, it may be suitable for borrowers who are tech-savvy and don’t mind applying for and managing their personal loan online.

Symple personalises its interest rates according to a borrower’s risk profile. This means strong credit borrowers may get very low interest rates, while those with poor credit history may get very high interest rates.

It’s worth noting that Symple’s one-off establishment fee is based on the borrower’s loan amount. The more you borrow, the higher the establishment fee. Symple also charges other fees. With this in mind, it’s best to read the loan contract carefully if you are applying for a Symple personal loan.

If you’re in the market for a personal loan, it’s worthwhile to compare personal loan interest rates, fees and features from several different lenders before deciding which one is best for you.

Learn more about Symple Loans

Can single mothers get personal loans online?

Many lenders offer online applications for personal loans, which can be convenient for borrowers who have busy lives. 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.

How can I get a $3000 loan approved?

Responsible lenders don’t have guaranteed approval for personal loans and medium amount loans, 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 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, in some cases, the same day.

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

Will comprehensive credit reporting change my credit score?

Comprehensive credit reporting may change your credit score, either positively or negatively, depending on an individual's situation.

Under comprehensive credit reporting, credit providers will share more information, both positive and negative, about how you and other Australians manage credit products. That means credit reporting bureaus will be able to make a more thorough assessment of everyone’s credit behaviour. That will lead to higher scores for some consumers and lower scores for others.

What is the average interest rate on personal loans for single parents?

Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.

Which lenders offer bad credit personal loans?

Several dozen lenders offer bad credit personal loans in Australia. These are generally smaller lenders that aren’t household names.

What is a credit rating/score?

Your credit rating or credit score is a number that summarises how credit-worthy you are based on your credit history.

The lower your score, the more likely you are to be denied a loan or forced to pay a higher interest rate.

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, which typically have 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 fully or partially guarantee the loan, taking on the financial responsibility if the borrower defaults.

How long does it take to get a $5000 loan?

Depending on the lender, personal loans and medium-amount loans for $5000 can sometimes be approved in under an hour, and give you access to the money the same day. Other loans may take 24 hours or longer to assess your application, and you may not get the money for a few days.

Is it hard to improve your credit score?

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.

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 documents, such as bank statements or tax returns, to demonstrate that their income can cover a loan’s repayments.

Do $4000 loans have no credit checks?

Many medium amount loans for $4000 have no credit checks and are instead assessed based on your current ability to repay the loan, rather than by looking at your credit history. While these loans can appear attractive to bad credit borrowers, it’s important to remember that they often have high fees and can be costlier than other options.

Personal loans for $4000 are more likely to have longer loan terms and will require a credit check as part of the application process. Bad credit borrowers may see their $4000 loan applications declined or have to pay higher interest rates than good credit borrowers.

Can I get a self-employed personal loan with bad credit?

It may be much more difficult for a self-employed borrower to successfully apply for a personal loan if they also have bad credit. Many lenders already consider self-employed borrowers to be riskier than those in full-time employment, so some self-employed personal loans require borrowers to have excellent credit.

If you’re a self-employed borrower with a bad credit history, there may still be personal loan options available to you, such as securing your personal loan against a vehicle of equity in a property, though your interest rates may be higher than those of other borrowers. Consider contacting a lender before applying to discuss your options.

What's a credit report?

A credit report is a record of your credit history, which covers your credit enquiries, borrowings and your repayments. The report will include information about any bankruptcies or other relevant legal judgements. It will also include biographical information such as your address, date of birth, driver's licence number and employment history.