Personal Loan Frequently Asked Questions

We've gathered the most frequently asked questions to help make your personal loan journey a lot easier. If you can't find what you're looking for, give us a call on 1300 108 794.

Getting your individual rate is quick and easy and won’t affect your credit score. You will know your rate before you apply by clicking on and completing the online form on the get my rate page. You will receive your rate within one minute and this rate won’t change when you continue on and submit your online application.

Yes, however the way our application process works is we first allow you to access your individual rate for free without it affecting your credit score. If you decide to proceed to an application, a credit check will be done.

A credit score is used to represent the creditworthiness of the person. Pepper Money will use credit scores to partly determine who qualifies for a personal loan, at what interest rate, and what credit limits.

Credit bureaus like Equifax use the following credit score groupings:

  • Average = 510-621
  • Good = 622-725
  • Very Good = 726-832
  • Excellent = 833-1200

Not sure where you land? Check your credit score for free by visiting their website here.

There are many factors that may impact your credit score such as a number of enquiries, adverse credit listings and personal information held on credit file. Learn more about the common problems that could contribute to a low scores here

Our unsecured personal loans range from $5,000 to $40,000, repayable between 18 months to 84 months.

You can use your Pepper Money personal loan for almost all purposes. This could be anything from a holiday, home improvements, household furnishings, car purchase or repairs, auto upgrades, debt consolidation, educational expenses, medical and cosmetic surgery, dental surgery, mortgage cost funding, vehicle deposit funding, and even a wedding, funeral or sporting equipment.

We do not offer loans for the following purposes:

  • Debt consolidation of Pay Day lender debts
  • Payout
  • Rental
  • Mortgage and credit arrears
  • Payment of defaults and judgements
  • Loans for business purposes

Yes, we accept both single and joint applications. 

All of our personal loan applicants are required to have an acceptable form of ID. The ID we require is either an Australian passport (valid or expired within the last 24 months) or a current Australian drivers licence and Medicare card. Depending on the outcome of your personal loan application, we may ask to see some additional documentation.

What we ask for is different for each application, however to speed up the process it is worth ensuring you have the following to hand: Front & Back of your ID documents, Proof of employment and income, Details of your existing credit commitments, Proof of address, Details of your rent/mortgage payments, Bank statements.

As part of Pepper Money’s responsible lending obligations we must enquire about the purpose of the loan. Understanding the purpose also gives Pepper Money the opportunity to ensure that the loan is right for you.

A secured loan is secured against an asset that you own. This will be your car or other vehicle that can be registered as security against the loan. That means if you fail to make repayments on a secured loan, the asset (the security) may be taken [repossessed] as part of the agreement and sold with the proceeds of the sale used to cover the outstanding balance on the loan. Due to these loans being secured against assets, consumers can often borrow more at a lower interest rate, in comparison to an unsecured loan.

An unsecured loan is simply a personal loan that is not secured against an asset. Unsecured loans are usually offered at lower borrowing amounts and with a higher interest rate.

Pepper Money offers both unsecured and secured personal loan products.

Unfortunately at this time we do not accept applications for personal loan borrowers that have defaults on their credit report.

If you are currently in a Part IX Debt Agreement, or have had one in the past, we are unable to assist with your loan application.

If Centrelink is your primary source of income we will be unable to offer you a personal loan. However if your Centrelink benefits supplement your primary employment, we can accept this as a form of secondary income.

We can only accept the following two combinations of I.D:

1) Current Australian issued Drivers Licence or Drivers Permit (AND) current Medicare Card,


2) Australian issued Passport (current or expired within the last 24 months)

Funds are disbursed into your bank account. It is a condition of the loan that you must repay the credit card debts within 2 days of the loan funds being advanced.

Once you’ve received full approval on your loan and we have received the necessary documentation, the funds will typically be transferred into your nominated bank account the next business day (subject to your bank’s direct credit processing times).

Your application can be retrieved here.

NOTE: You'll need your email address, date of birth and phone number handy.  

If you're still having trouble, please contact us on 1300 108 794.

We don’t charge any fees when you take out a personal loan with us. This means you won’t pay any establishment, admin or exit fees! However, if you fall behind on your payments, then we may pass on any enforcement or recovery costs incurred by us.

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Important Information

No fees apply, however we may pass on to you any third party enforcement or recovery costs incurred by us. Settlement times may vary depending on individual circumstances.

*Pepper Money Unsecured Personal Loan interest rates range from 5.95%-19.95% p.a. (Comparison rates range from 5.95%-19.95% p.a.) and Secured Personal Loan interest rates range from 4.95%-17.45% p.a. (Comparison rates range from 4.95%-17.45% p.a.). All Pepper Personal Loan rates are correct as of 13 May 2022 and subject to change at any time. The actual interest rate applicable will depend on the individual borrower’s circumstances.

**All Comparison Rates are calculated based on an unsecured loan of $30,000 over a 5 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

^Loan repayment terms range from 18 to 84 months for secured loans. Repayment terms range from 18 to 36 months for unsecured loans between $5,000 and $7,999, and 18 to 84 months for unsecured loans from $8,000 to $50,000.

EXAMPLE: An unsecured personal loan of $30,000 borrowed over a term of 5 years with the minimum interest rate of 6.95% p.a. (6.95% p.a. comparison rate), would equate to an estimated minimum total amount payable of $35,518.60 via the weekly payment option. Rates are subject to change.