Renovation Loans
Get your rate before you apply - it won't impact your credit score
There's no place like a renovated home.
We Australians love home improvements. With around 62% of homeowners doing some kind of renovations in the last 12 months1, it seems that renovating is the new upgrading. There are a number of improvements you can make to add value to your home, but it helps to understand the cost before you get started.
In 2015 the average total spend on renovations was $68,300, with most alterations being made to kitchens or living areas. And whilst there are a growing number of DIY renovators, 9 out of 10 Australians still hire professionals to upgrade their homes2.
There's no doubt about it, doing renovations on your home is an exciting prospect - and it’s way less stressful when you have your funds all organised and ready to go. An unsecured renovation loan with Pepper Money can help you achieve your renovation goals.
What you get with Pepper Money Personal Loans
You can get your individual rate upfront without impacting your credit score.
$0 early repayment fee if you decide you want to pay your loan off faster. Choice of secured or unsecured loans.
We'll aim to give you a decision within 5 hours. Funds in account next business day. Apply online in 10 minutes or call us.
Personal loan product features
| Feature | Unsecured Loan |
| Interest Rate | Fixed interest rates range from 7.45%pa - 16.95%pa* (9.07%pa - 18.53%pa comparison rate**) |
| Easy online application process | 10-minute online or by phone (1300 108 794) |
| Loan Term | 18 months to 36 months (<$7,999) and 84 months (>$8,000 to $40,000) |
| Loan Amount | $5,000 - $40,000 |
| Funds paid into your account | Next business day following approval (subject to your bank's direct credit processing times) |
| Repayment Frequency | Weekly or Fortnightly |
| Repayment Facilities | Direct Debit |
| Fees and Charges | Loan Establishment Fee | 4% of loan amount, capped at $495 Security Registration Fee* | $20 Account Administration Fee | $13 per month Early Repayment Fee | $0 |
For more information about our secured loans and unsecured loans please click here or call us on 1300 108 794.
Popular questions
Our unsecured personal loans range from $5,000 to $40,000, repayable between 18 months to 84 months.
Unfortunately at this time we do not accept applications for personal loan borrowers that have defaults on their credit report.
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.
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).
For the full FAQs click here.
Start your journey
Ready to give your home some great improvements?
*Interest rates range from 7.45% p.a. (9.07% p.a. comparison rate) to 16.95% p.a. (18.53% p.a. comparison rate). Rates are correct as at 23 June 2020 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 $40,000.
EXAMPLE: An unsecured personal loan of $30,000 borrowed over a term of 5 years with the minimum interest rate of 7.45%p.a. (9.07%p.a. comparison rate), would equate to an estimated minimum total amount payable of $37,741.60 via the weekly payment option (including a $495 establishment fee and $13 per month administration fee). Rates are subject to change.
Pepper Money Personal Loans is a brand of Pepper Group Pty Limited ABN 55 094 317 665, Australian Credit Licence Number 286655. Credit is provided by Wingate Consumer Finance Pty Ltd, Australian Credit Licence Number 425142 as agent for Wingate Finco 2 Pty Limited ACN 164 213 030. All applications are subject to the credit provider’s credit criteria. Terms, conditions, fees and charges apply. Personal information for Pepper Money Personal Loans is collected, used and disclosed in accordance with Pepper’s Privacy Policy & the credit provider’s Privacy Policy.
Help at hand
Kickstarting your home renovation project
5 steps to work out your renovation budget
4 ways to upgrade your home without breaking the bank
For more answers to your questions visit our Help Centre.