loans online

Your demand for a hassle-free short-term borrowing solution is Moneyspot’s top priority. Our loans, which are also known as personal loans, are intended to support you during a trying time for up to 20 weeks. We handle applications completely online, around-the-clock, are subject to ASIC regulation, and are affiliated with the Australian Financial Complaints Authority.

 Example of a Small Amount Loan

Our small loans are $2000 or less with a minimum duration of 42 days and a maximum of 90 Days. Fees include an establishment fee of 20% of the loan amount and a monthly fee of 4% each month. We match your repayments to your pay cycle.

By way of example, a loan of $500 over a 3 month period would have an establishment fee of $100 and a monthly fee of $20 each month ie: total monthly fees of $60. The total repayable is therefore: $500+$100+$60=$660. Your monthly repayment amount is therefore $220 per month.

Note: The Nominal Percentage Rate for small loans is 0% as the loans are fee based.

Example of a Medium Amount Loan

A medium amount loan is a loan over $2000 and a minimum duration of 42 days. Fees include a $400 establishment fee, an Annual Percentage Rate (APR) of 48%, and a Comparison Rate* of 65.4962%.

By way of example, a loan of $3000 over a 3 month period would have an establishment fee of $400 and interest charges of $275.60. The total repayable is therefore: $3000+$400+$275.60=$3675.60. Your monthly repayment amount is therefore $1,225.20.

* The comparison rate is based on a $2,500 loan over a term of 2 years with a $400 establishment fee and weekly repayments. MoneySpot does not offer loans for $2,500 over a term of 2 years.

Loan Repayments You Can Afford

Our responsible lending principles aim to provide you with a loan repayments that you can afford. You can also use our cash loan calculator above to work out your approximate repayments before you apply. You must be employed (we cannot help you if the majority of your income is from Centrelink, and you will need to download your bank statements via our online application form, so have your bank details on hand before you start.

Types of Fast Loans

Our business is regulated by ASIC and our loan products are classified as a Small Amount Credit Contracts (SACC) and Medium Amount Credit Contracts (MACCS).  Our products are commonly referred to as personal loans, cash advances, and short-term loans.

Why Moneyspot?

We’re a fast loan provider
Our application form should take you no longer than 5 minutes to complete. Usually we’ve processed your loan a short-time later with the money on it’s way to your bank account in less than 60 minutes. That’s a seriously fast loan.

We are committed to responsible lending
We take our obligations seriously and we don’t want to lend you money if you can’t afford to repay it. This takes our total focus every day.

We’re totally online
You don’t have the time these days to deal with manual loan processes. Get your bank details and ID together and you’re ready to go. You can apply 24/7, we’re always open.

We care about customer service
Just because it’s a small loan, it doesn’t mean it’s not important. If you need to know your current balance, the status of your loan, your repayment dates or get another loan, then you can log onto our secure client area and it’s all there. Alternatively you can call on 1300 048 156 or get us on chat during business hours.

We understand things don’t always go as planned
Things are getting tough and budgeting doesn’t always work out when unexpected things happen. Our cash loans are not like credit cards or other forms of revolving credit  you get the money fast, you pay it off fast, and that’s it. If you need us again, just login and apply for an even faster loan.

Your credit history isn’t perfect
You generally do the right thing and pay off your debts and sometimes that takes time. We won’t penalise you because you’ve had some bad luck and you’re credit file isn’t perfect. What we look for is a recent history of repayment and affordability.

Who can apply?

We have a few essential requirements to be eligible for a Moneyspot Loan. You need to be.

  • Over 18 years of age
  • An Australian resident
  • Be employed and have a regular income stream