Debts can easily mount up over time, and with different payment terms, dates and fees charged by different credit providers, managing your finances can feel like a full-time job.
That’s why we’re here to help. A personal loan for debt consolidation could allow you to pay off outstanding debts of up to $50,000.
This could help streamline your finances, meaning you may only need to make a single payment each month. What’s more, a personal loan could have a lower interest rate than your other debts, allowing you to save on interest, too.
Why choose a Pepper Money Personal Loan?
No fees - for the life of your loan
Get your personalised interest rate+ without impacting your credit score
Secured interest rates starting from 6.75% p.a. comparison rate*#
Rates based on your circumstances
No fees
Quick turn-around
What could my personal loan repayments look like?
To help you plan your monthly budget, give our repayment calculator a try. It can estimate what your regular repayments might look like based on the amount you want to borrow using example interest rates.
Your example interest rate and comparison rate is*# $
Your estimated minimum repayment is $
Important information
Information provided is factual information only, and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. All applications are subject to credit assessment, loan eligibility and lending limits. Terms, conditions, fees and charges apply.
The results of the calculator are based on information you have provided and is to be used as a guide only. It does not constitute a quote, pre-qualification, approval for credit or an offer for credit and you should not enter commitments based on it. The interest rates do not reflect true interest rates and the formula used for the purpose of calculating estimated personal loan repayments is based on the assumption that interest rates remain constant for the chosen loan term.
Your interest rate, repayments and interest payable will be different if a full application is submitted, and we complete our responsible lending assessment. The results of this calculator do not take into account any lender or government fees which may be applicable from time to time.
Get your personalised rate in just minutes.
What's more, it won't affect your credit score.
Get to know our personal loans
Secured or Unsecured?
Secured personal loans generally have lower interest rates than unsecured personal loans as the lender will lodge a security interest over the asset. If you don’t pay the loan, the lender may have the right to repossess the asset.
Find out more on our fact sheet, or call us on 1300 108 794.
-
Interest rates
-
Secured fixed interest rates and comparison rates from 6.75% - 21.65% p.a.*#
-
Application process
-
10 minutes online, or call us on 1300 108 794
-
Loan term
-
18 -84 months^
-
Loan amount
-
$15,000 - $50,000
-
Funds availability
-
Next business day following approval (subject to your bank's direct credit processing times)
-
Repayment type & frequency
-
Pay by Direct Debit in weekly or fortnightly installments
-
Fees and charges
-
We don't charge any fees
- Loan establishment fee | $0
- Account administration fee | $0
- Early repayment fee | $0
- Security registration fee | $0
-
Interest rate
-
Unsecured fixed interest rates and comparison rates from 6.75% - 26.95% p.a.*#
-
Application process
-
10 minutes online, or call us on 1300 108 794
-
Loan term
-
18 -84 months^
-
Loan amount
-
$5,000 - $50,000
-
Funds availability
-
Next business day following approval (subject to your bank's direct credit processing times)
-
Repayment type & frequency
-
Pay by Direct Debit in weekly or fortnightly installments
-
Fees and charges
-
We don't charge any fees
- Loan establishment fee | $0
- Account administration fee | $0
- Early repayment fee | $0
What others are asking about debt consolidation
What is debt consolidation?
It’s a term for paying off your outstanding loans (or debts) with the funds from a new loan, often with more favourable terms. Consolidating debts with a personal loan could be a good idea when you have multiple debts with different credit providers; each of them potentially charging different interest rates, different monthly fees, and with different payment dates.
After paying off your other debts, you’ll then just need to manage your one personal loan repayment, meaning less life admin. Depending on your situation, it could be a strategy to reduce the number of payments each month, potentially decrease your interest paid (if you’re paying off a high-interest credit card), or spread repayments over a loan term that works for you.
There is no limit to the number of debts you can consolidate as long as the outcome of the consolidation puts you in a better financial position. We can look to refinance different types of debt including credit cards, personal loans, car loans, private finance, tax and other business debts.
You will need to have documents supporting your current financial position such as recent bank statements, payslips or other proof of income, personal identification and a snapshot of your current asset and liability position.
For PAYG applicants, we require two current payslips plus one of the following:
- Most recent group certificate
- Most recent tax return / taxation notice
- Current letter of employment
- Bank statements – to confirm your last 3 months of salary
For Self-Employed applications, we need your last two years Tax Returns, two years Tax Assessment Notice and last 1 month’s business bank statements. If you’re self-employed and unable to provide these documents, you may still qualify for an alternative documentation (alt doc) loan. Find out more in our Easy Guide to Alt Doc Loans.
The interest rate offered, and fees and charges will depend on our assessment of a number of factors at the time of application including:
- The amount of your deposit or existing equity (if refinancing)
- Nature of the security property (or the property you have equity in if refinancing)
- Loan to value ratio (LVR)
- Your income
- Credit history
- Any assets you own
- Any liabilities or credit obligations
- Chosen repayment type – paying off interest-only, or principal and interest
- The purpose of the loan – if it’s for an owner-occupier or investment property
To get an indicative interest rateˇ, you can start by using our online borrowing power calculator, or speak to one of our Lending Specialists on 137 377.
Your Pepper Money Home Loan Journey – from application to actual settlement – can take up to six weeks – this is the typical timeframe for a home purchase, however, the process may be quicker if all the necessary documentation is provided sooner.
Delays in decisions are most commonly caused by incorrect or missing documentation.
Learn more about the Pepper Money Home Loan application process or for more information speak to a Lending Specialist on 137 377.
Consolidating debts can be a good idea if you are able to roll-in existing debts with higher interest rates into a single account with a lower interest rate. However, each persons individual needs and circumstances must be considered when deciding if debt consolidation is the correct choice.
There’s a lot to consider– including interest charges, cancellation fees and repayment terms. But in some instances debt consolidation can help reduce monthly interest charges and make payments more manageable. For example, it might be possible to consolidate outstanding credit card balances, bills, personal loans and car loans into one loan account.
It's possible that the amount you owe may increase over time and become hard to manage. One way you could improve your short term financial situation is through debt consolidation.
We’re one of Australia's leading non-bank lenders!
We were established way back in 2000 to help Australians achieve their financial dreams by providing flexible financial loan options that could factor in the ups and downs of real life. Since then, we’ve become one of the largest, most trusted, and award-winning non-bank lenders in Australia and New Zealand.
If you've chosen to take out a personal loan to consolidate your debts, then once your personal loan is settled, we’ll pay the lender directly.
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 car 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.
Unacceptable loan purposes include:
- Mortgage, rent or credit arrears
- Tax debts
- Payment of defaults and judgements
- Loans for business purposes
Our unsecured personal loans range from $5,000 to $50,000, repayable between 18 months to 84 months.
Need some help with a personal loan to consolidate your debts?
Whether you’re confused about secured and unsecured loans, or just wondering how the whole process works; our resources are here to make sense of all that finance jargon.
Our Awards
As the home of loan options we're all about helping everyday Aussies succeed in achieving their financial goals
- whether that's renovating your home, consolidating your debts, or covering unexpected outgoings.
We’re over the moon to share that we’ve been recognised as winners by both Finder and WeMoney.
Our Product Reviews
What our customers think about us
The important legal bits
Information and interest rates are correct as of 13 September 2023 and subject to change at any time.
All applications are subject to credit assessment, loan eligibility criteria and lending limits. Terms and conditions, fees and charges apply.
Information provided is factual information only, and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser.
‘No fees’ only applies to new loans. If you do not comply with the terms of your loan, 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 6.75%-26.95% p.a. (Comparison rates range from 6.75%-26.95% p.a.#) and Secured Personal Loan interest rates range from 6.75%-21.65% p.a. (Comparison rates range from 6.75%-21.65% p.a.#). The actual interest rate applicable will depend on the individual borrower’s circumstances and the information verified during the loan application assessment.
+PERSONALISED RATES AND REPAYMENTS: The interest rate and repayments are based on personalised pricing. The final interest rate and repayments you are offered (if approved) may change based on your personal financial circumstances or security details provided. In some circumstances, we may require further information in order to provide a final interest rate and repayments (if approved).
^Loan repayment terms range from 18 to 84 months for secured loans between $15,000 - $50,000. 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 6.75% p.a. (6.75% p.a. comparison rate), would equate to an estimated minimum total amount payable of $35,349.60 via the weekly payment option. Rates are subject to change.
#Comparison rate is calculated on a secured loan of $30,000 for a term of 5 years. 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.