Personal Loans

There are two primary loan types - secured and unsecured. At Pepper Money, if you need to buy a car or finance any other asset, we provide you the flexibility to choose between an unsecured personal loan and a secured loan. So what’s the difference?

Secured Loan - A secured loan is most often used to purchase valuable assets such as cars; the vehicle (or other asset) is then used as security against the loan. Because the loan is asset backed, the interest rate is lower. If you fail to make your repayments on a secured loan, the asset you have used as security may be repossessed to cover the outstanding balance on your loan. Find out more about our Car Loans & Equipment Finance >

Unsecured Loan - These loans are often taken out to cover the cost of smaller amounts such as a holiday or home renovation. With an unsecured loan the borrower isn’t providing any security against the loan. This means that the interest rates are higher as there is no asset to be recovered in the event of a default.

Pepper Money provides you with the flexibility to choose between a fixed or variable rate on your unsecured personal loan.

Fixed Rate - A fixed rate offers you the comfort of knowing that your interest rate is ‘fixed’ and the certainty that your repayments will not change for the life of the loan. You will have the flexibility to make some additional repayments or pay out your loan ahead of the loan term, however fees will apply.

Variable Rate - With a variable rate loan, your loan rate and repayments may rise or fall as interest rates change. Unlike a fixed rate loan, variable rate loans give you the flexibility to make extra repayments or repay your loan in full ahead of the loan term, without paying any additional fees.

Pepper Money does consider applications that have defaults providing they pass our credit score and application lending criteria.

A credit score is generally provided by a credit reporting body and used to represent the creditworthiness of an applicant. Pepper will use credit scores to partly determine if you qualify for a loan, at what interest rate, and what credit limits. Many factors can impact your credit score including number of enquires, adverse credit listings and personal information held on your credit file.

Our application is designed to provide you with an indicative serviceability assessment before you undergo a credit check. You will be notified before any official credit check takes place and the application process will seek your consent for us to access your credit file.

We only accept applications from 1 borrower at this time.

Your application can be retrieved here.

NOTE: You'll need your personal loan application code handy. You will find your application code in the email or sms we sent to you when saving your application.

If you cannot locate your application code, when retrieving your application select 'resend now'. From there, your application code will be re sent to your email or phone.

If you're still having trouble, please contact us on 1300 659 430.

Pepper is Australia's number 1 alternative lender, and we live our mission: to help people succeed.

We specialise in working on each individual application so we can fully understand your real life situation and help find a suitable solution.

Since 2001, we’ve been helping over 200,000 Australians who don’t tick all the traditional boxes for home loans – and we also provide personal loans as well as professional equipment and car loans. Learn more about us here.