Personal Loan FAQs

What others are asking on their personal loan journey...

We've gathered some of the most frequently asked personal loan questions to help make your journey that bit easier. Visit our resources to look at our real-life guides for more information.


You can apply online and complete the online application in as little as 10 minutes. You’ll get your individual rate before you apply. Or you can apply over the phone (1300 108 794) by speaking with one of our friendly Lending Specialists. To view the eligibility criteria, click here.

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 before you apply for a personal loan, you can request an indicative personal loan interest rate. Accessing this rate will not affect your credit score. If you decide to proceed to an application, a credit enquiry will be made on your credit report.

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 reporting bodies 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 the Equifax website.

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 low credit scores

Our unsecured personal loans range from $5,000 to $50,000, 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 holidayhome improvements, household furnishingscar 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

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. 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 you own. This could be your car or another eligible vehicle owned by you that can be registered as security against the loan. Depending on your circumstances, a secured loan may allow you to borrow at a lower interest rate, in comparison to an unsecured loan. Secured loans may have higher lending limits.

It’s important to understand however, if you repeatedly fail to make repayments and default on a secured loan, the asset used as security may be repossessed and sold. The proceeds of the sale will be credited to the outstanding balance of your loan.

An unsecured loan is a loan where an asset that you own is not registered as security against the loan. Unsecured loans usually have lower borrowing limits and a higher interest rate.

Pepper Money offers both secured and unsecured personal loans.

We accept personal loan applications with no financial or unpaid defaults, or >1 paid telco or utility default.

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,


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

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. 

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).

Enter your details to retrieve your personal loan application.

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.

Important Information

Information is correct as of 18 August 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. 

+ PERSONALISED RATES: The interest rate is based on personalised pricing. The final interest rate 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 personalised interest rate.

Get in touch with a Lending Specialist

Tell us about your situation. The more we learn, the better we can help.