There are more and more lenders in Australia offering personal loans. Therefore, looking for a personal loan in Australia is not difficult. SocietyOne is one of the best lenders. To get a loan from SocietyOne, you can do in three steps with some minutes. What are the requirements of SocietyOne personal loans?

SocietyOne personal loans
You can get SocietyOne personal loans in three steps with some minutes

In the previous post, Loansaustralia.net introduces people to some of the necessary information that is useful for getting the Macquarie Credit Union personal loans, to get more information people can read the article Macquarie Credit Union personal loans are offered with the best interest. Now, let find knowledge about loans of SocietyOne in the post today.

SOCIETYONE PERSONAL LOANS

Just like a lot of article posts about the personal loans in Australia, as well as each type of loans such as Gateway Bank personal loans, People’s Choice Credit Union personal loans, Macquarie Credit Union personal loans…. this post about the SocietyOne loans also includes some main parts. They are:

1. Some requirements to apply for SocietyOne loans

SocietyOne offers a range of personal loans to customers who are Australians. Customers need to meet some eligibility criteria, they are:

  • Customers need to be at least 21 years old
  • Customers need to have a good credit history
  • Customers need to earn more than $30,000 p.a.
  • Customers need to be able to afford the loan
  • Customers need to have at least 2 years of good credit history
  • Customers need to not be in hardship with another financial provider
  • Customers need to not have a pending, previous or current bankruptcy
  • Customers need to be using the loan for personal use

To get a personal loan in SocietyOne, customers must register on their website. The next step requires customers to complete the application form and to submit some personal documents to verify the identity of customers, which comprises the following:

  • The copy of the driver’s license of customers
  • The copy of the passport of customers
  • The payslips
  • Three months of the bank statements of customers
  • The credit card or loan statements

2. Some benefits of SocietyOne loans

Personal loans of SocietyOne have a lot of benefits that attract customers, they are:

  • Have a low rate: From 7.50% p.a (9.51% p.a. comparison rate)
  • No have ongoing fees: These loans of SocietyOne do not have monthly or early repayment fees
  • 100% Online: Customers can apply on their smartphone or computer… in some steps and very easy.
  • Super quick: Get a personalized rate in as little as 1 minute

Some steps to get a loan from Society:

  • Step 1: Get the rate of each customer: In as little as 1 minute, the SocietyOne will give customers a rate based on their credit history
  • Step 2: Get the funds: Once approved, the SocietyOne will have the funds in the account of customers within a few days!
  • Step 3: Apply online: Most customers finish the online application within 5 minutes.
Macquarie Credit Union personal loans
You can get SocietyOne personal loans in three steps with some minutes

3. The interest rate and fees of SocietyOne loans

Fixed repayment. Because these personal loans attract fixed interest rates, your repayments remain the same for the entire duration of the loan. This not only protects you from market fluctuations but also allows you to anticipate a budget for repayment in advance.

Personalization rate. SocietyOne will use the information from your loan application to determine the interest rate indicated for your loan.

There is no ongoing charge. There are no monthly or annual account hold fees. There is a setup fee, starting at 3% of the loan amount, depending on the loan amount and your loan term. Late payments attract a $ 25 fee and you pay $ 25 for each dishonest case requiring direct debit.

There is no early repayment fee. If you choose to repay the loan earlier than expected, you do not have to pay any early repayment fees.

Star rate from 7.5% p.a.,

Comparison rate is 9.51% p.a.

Loan term varies between 2 and 5 years.

Example:

  • Customers get $10,000 
  • Loan term 1-year
  • The interest rate is 7.5% p.a. 
  • Application fee: 3% = $300
  • Monthly fee: $0
  • The total amount payable is $11,050 including interest and fees
  • Each month, customers need to pay $920.833

This post is about loans of SocietyOne. We provide this information to offer you some of the necessary information that is useful for getting loans from there. Also if you are looking for information about the personal loans from Gateway Bank, please refer to the Gateway Bank personal loans link we just provided in the previous article.

Anita (Team Content) – SocietyOne personal loans