Debt Consolidation Loans

Consolidate your debt, and simplify your life

Credit card bills and loans can easily sneak up on us. Remembering those repayment dates and amounts, and understanding interest free periods or rent-to-own schemes, can drive us all crazy.

A consolidation loan from us not only puts all of your debts in one place with one regular repayment, but it also could save you a heap of interest. Applying is quick, simple and online.

MoneyPlace. Borrowing has moved on.

Tailored rates from 7.65% p.a. for an excellent credit history / 7.65% p.a. comparison rate*
Consolidate up to $50,000 to help put your debt in one place
No hidden costs like monthly fees or early repayment fees
One upfront fee that we add to your loan, so you’re not out of pocket

Apply now

It takes just 10 minutes to apply online

We’re online only, so there are no hassles

Your rates are tailored individually for you

There are no penalties for early exits

How it works

Get an estimate and apply

Grab your laptop or mobile device, get your personalised rate estimate, and then finish our simple online application form.

Who can apply?

To apply for a MoneyPlace loan, you must:

Be 18 years of age or older;
Be an Australian citizen or permanent resident;
Have a regular source of income; and
Be an individual person and not a couple, company, trust or partnership etc.

Get your loan

Once your loan is approved, we'll quickly deposit your money into your selected bank account. You can then pay out all of your existing personal loans, credit cards or store cards.

Cut up your old credit cards

When consolidating debt make sure you cut up those credit cards or store cards, and close any personal loan accounts you are paying out. This will help you avoid any unexpected account keeping fees.

FAQ

How do I pay out my debts?

Once your loan is finalised we deposit the money from your loan into your selected bank account. You can then pay out all of your existing personal loans, credit cards or store cards. What you'll be left with is one straightforward loan from us.

How much will I save by consolidating my debts?

With many credit card rates around 20%, you could save a substantial amount of interest by consolidating into one personal loan. Our rates start from 7.65% p.a. for an excellent credit history / 7.65% p.a. comparison rate¹

Why should I consolidate my debt?

People consolidate their debts for different reasons. People with credit card debts can save a lot on interest, whilst regular repayments can help provide the discipline to repay your debt. Combining multiple debts into a single regular repayment also makes life simpler.

* This comparison rate is based on a $30,000 Personal Loan for a five year term. This rate is applicable for unsecured loans only.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.