Pay for home renovations without the hassle of a home loan

Better rates on home improvement Loans

Get your personalised rate in less than 3 minutes.

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Are you planning to renovate your home but experiencing any of the following:

Need more money to pay for tradies, materials, kitchens and bathrooms?

Thinking about borrowing against your home loan to get a lower interest rate?

Want to know the most cost effective way to pay for your renovation projects?

If any of the above sounds familiar, then we’d like tell you how we’ve helped hundreds of Aussie homeowners pay for their renovations without using their home loan. 

What every bank doesn’t want homeowners to know about their home loan

Home loans have lower interest rates than personal loans but are paid off over a longer period, so, home loans generally cost less per month in repayments but…

what most banks don’t tell you is that using a home loan to pay for home renovations can cost you more in the long run. Even with a lower rate, the longer loan term can compound up to thousands more in interest repayments - undoing all the good work you have done to pay off your home loan balance so far.

The difference between home loans and personal loans

Interest rates on personal loans are higher than home loans because they are unsecured debt and don’t use your home as collateral.

Our personal loans have a maximum term of 5 years –ideal to pay off renovations as soon as possible without increasing your home loan.

For example, if you had a $500,000 home loan and added $20,000, based on a variable home loan rate of 4.7% you’ll pay an extra $130 a month. But over a 20 year period, the extra $20,000 loan can compound up to $10,900 in interest.

On a SocietyOne personal loan of $20,000 paid back over 5 years at a fixed rate of 10%, your repayments will be $438 each month, but you’ll only pay $6260 interest over 5 years (which is much lower than $10,900 on a home loan).

How it works

Personalised Interest Rates. If you have a good credit history, we’ll reward you with a lower rate. The higher your credit score, the lower your interest rate.

Choose your repayment term. You can pay off your home improvement loan over a period of 2-5 years with fortnightly or monthly repayments.

No monthly fees. Because no one likes service fees when you’re already paying interest.

No early repayment fees. We’re happy for you to pay off your loan sooner. And we won’t charge you if you do!

All you need to do is pay a one-off establishment fee which is based on your loan amount and credit score.

Why SocietyOne

People backing people. We're not a bank! We connect borrowers who want lower rates with investors who want better returns. Everybody wins.

No monthly fees. Because no one likes service fees when you’re already paying interest.

No early repayment fees. We’re happy for you to pay off your loan sooner. And we won’t charge you if you do!

All you need to do is pay an establishment fee which is also based on your loan amount and credit score and added to your loan.

Quick and easy process. You can get personalised quote in less than 3 minutes and apply online.

Our loans are ideal for homeowners who:

Want to renovate but don’t have enough funds.

Don’t have a redraw facility on their current home loan.

Don’t want the hassle of refinancing their home loan.

Don’t have enough equity in their property to borrow against.

Prefer not to use their home loan because it could cost more in the long term.

Have a good credit history and want to use it to get a better deal.

Make It Happen

Get a quote

If you’d like to know what your repayments could look like with a home improvement loan, you can get a personalised quote in less than 3 minutes.

Our rates

We never charge any monthly or early repayment fees. Loans available for a minimum term of 2 years and a maximum term of 5 years.

SocietyOne Loan
Interest Rate
% p.a. (2-3 years)
Interest Rate
% p.a. (5 years)
Comparison Rate
% p.a. (2-3 years)2
Comparison Rate
% p.a. (5 years)3
Tier 17.50% - 10.55%8.35% - 11.40%3.00% - 4.00%9.51% - 13.28%9.61% - 13.13%
Tier 210.55% - 11.50%11.50% - 12.45%4.25%13.44% - 14.41%13.34% - 14.31%
Tier 311.50% - 13.96%12.55% - 15.01%4.50%14.58% - 17.09%14.52% - 17.02%
Tier 413.96% - 18.99%15.11% - 20.14%5.00%17.43% - 22.57%17.35% - 22.49%

The establishment fee is added to your loan; the amount is based on your SocietyOne loan grade and the loan amount. A $35 fee applies if you need to vary your loan. 2 Based on a $10,000 unsecured personal loan for a 3 year term. 3 Based on a $30,000 unsecured personal loan for a 5 year term.

Example based on a SocietyOne Tier 1 loan for $10,000 with a 3 year term.

Comparison Rate*


Monthly Repayment


Total Repayments

36 x $320.39 = $11,534.20

*Comparison based on a SocietyOne Tier 1 unsecured personal loan of $10000 over 3 years. Does not take into account promotional rates offered by banks. SocietyOne Tier 1 borrowers will receive an interest rate between 7.50% - 10.55% (comparison rate 9.51% - 13.28% p.a.) depending on investor demand. WARNING: The comparison rates are true only for the examples provided and may not include all fees and charges. Different loan grades, terms, fees or loan amounts might result in a different comparison rate.

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