Debt Consolidation Loans

Debt consolidation loans that reward good credit!

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Get what you need

Borrow what you need between $5k and $50k

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Super quick

Get a personalised rate in as little as 2 minutes

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No ongoing fees

No monthly or early repayment fees

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Credit score safe

Getting a quote won’t affect your credit score

Get a great rate!

Find out what your repayments could be 
with our SocietyOne personal loan calculator
$
*Please enter an amount between $5,000 and $50,000
Example Interest rate: {{ rateRanges.interest.low | currency }}% p.a.^ Comparison rate: {{ rateRanges.comparison.low | currency }}% p.a.*

Your estimated repayments

$

Total repayment amount of ${{loanTotal | currency(0)}}, which includes establishment fee of ${{currentFeeAmount}} and interest of ${{totalInterestPaid}}

Example loan cost based on a SocietyOne Tier 1 loan for $10,000 loan with a 5 year term and interest Rate of 7.5% (comparisonRate: 9.51%*) + 3% establishment fee + fortnightly repayment: $97 = total loan cost (including fees) of $12,649 (130.4 fortnights x $97)

*Comparison rate for 2 and 3 year loans is based on a loan amount of $10,000 and for 5 year loans, a loan amount of $30,000.*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. This calculator only provides an estimate of repayment amounts. The actual amounts may be higher or lower depending on the interest rate assigned to your loan. An establishment fee is added to your loan, based on your SocietyOne loan grade and the loan amount. A minimum establishment fee of $300 applies for Tier 1 customers and $395 for Tier 2, Tier 3 and Tier 4 customers.

As easy as

1

2

3

Getting a debt consolidation loan with SocietyOne is quick and easy
Simply provide us with some basic personal details, tell us how much you’d like to borrow and what you plan to use the loan for to receive an obligation free rate estimate in as little as 2 minutes.

If you’re happy with your quote, you can continue to apply for a loan online. Filling in the application will only take around 5 minutes all up.

We’ll review your credit history, income and expenses. We know that time is of the essence, so once your loan application has been approved, you’ll find your funds quickly deposited into your bank account.

If you’re looking for a general estimate of what your payments and interest rate may look like, our Repayment Calculator is a handy tool that can also give you an idea of what you may expect.

1

Get your rate
In as little as 2 minutes we’ll give you a rate 
based on your credit history.
Simply provide us with some basic personal details, tell us how much you’d like to borrow and what you plan to use the loan for to receive an obligation free rate estimate in as little as 2 minutes.

2

Apply online
It only takes 5 minutes for most people to finish their application.
If you’re happy with your quote, you can continue to apply for a loan online in minutes. We’ll review the information you’ve provided and get back to you with a response

3

Get your funds
Once approved, we'll have the funds in your account in as little as one business day!
We’ll review your credit history, income and expenses. We know that time is of the essence, so once your loan application has been approved, you’ll find your funds quickly deposited into your bank account.

Find out your rate

Get a Quote

Don't just take our word for it...

4.9 Google  4.7 ProductReview
"SocietyOne helped me to rearrange my finances. Their team was friendly, helpful and efficient ensuring the whole process throughout the loan application was seamless and speedy. I am very happy and would definitely highly recommend."
“Company is efficient and quick with regard to their service. Will definitely refer to family and friends. Don’t make the clients wait on the phone unlike other companies. More power.”
“Customer service has been fantastic very efficient. The loan rate is reasonable & has helped at an important time. The paperwork is so simple you can do it from your phone.”
“I found it was a very easy way to apply for a loan to pay off my credit card and personal loan I had with amazing interest rates I wish I had found them years ago I would have saved thousands not just a few hundred.”
"It was very quick and easy to apply and saved me huge amounts of credit card interest. I would recommend this to anyone. I applied with multiple other loan companies and found this to be the best one. Great service!"

See how we compare to the big banks

Looking for a low rate loan with no ongoing fees? See how our comparison and interest rates measure up to Commonwealth Bank, Westpac, ANZ and NAB.
  • SocietyOne

    rate

  • ANZ

    rate

  • Westpac

    rate

  • CBA

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  • NAB

    rate

Rates as of 28th July 2020
Comparison excludes short term bank promotional rates.

As easy as 1, 2, 3

Getting a Personal Loan with SocietyOne is quick and easy

1

Get your rate

In as little as 1 minute we’ll give you a rate 
based on your credit history.
Simply provide us with some basic personal details, tell us how much you’d like to borrow and what you plan to use the loan for to receive an obligation free rate estimate in as little as 2 minutes.

2

Apply online

It only takes 5 minutes!
If you’re happy with your quote, you can continue to apply for a loan online in minutes. We’ll review the information you’ve provided and get back to you with a response

3

Get your funds

Once approved, we'll have the funs in your account within a few days!
We’ll review your credit history, income and expenses. We know that time is of the essence, so once your loan application has been approved, you’ll find your funds quickly deposited into your bank account.

Find out your rate

Get a Quote

Consolidate your debts

If you want to significantly reduce the amount of interest you incur over the lifetime of multiple debts, or you’re struggling to manage several debt repayments at once, debt consolidation may be a good option for you.

Not only does budgeting become easier when you only have to keep track of one regular payment, but it could also save you money thanks to our great low rates. Without early repayment or monthly fees, you could even pay off your debt faster.

Get two minutes
to spare?

Get a Quote

Who can get a debt consolidation loan?


If you’re thinking of applying for a debt consolidation personal loan from SocietyOne, there are a few key criteria that you’ll need 
to meet to be eligible:
You need to be at least 21 years of age
Be an Australian citizen or a permanent resident of Australia
You must earn more than $30,000 per annum, with Centrelink considered to be a supplementary form of income
It’s important that you have a good credit score

What you'll need


You may need to supply us with the following 
information and documents as part of your debt consolidation loan application:
Your personal details – name, address, date of birth
A driver’s licence or passport
Proof of your address - for example, a utility bill
Proof of your income in the form of payslips or bank statements
Details about your day-to-day expenses, and any other debts

Resources & Guides

Useful documents & tools to help guide your way

Frequently Asked Questions

Things to Consider Before Getting a Personal Loan
What are the eligibility requirements?

You are eligible for a SocietyOne personal loan if you are:
- At least 21 yrs old
- Earn more than $30,000 p.a. from employment (Centrelink may be used as supplementary income)
- Are an Australian citizen or permanent resident
- Have good credit
- Are using the personal loan mainly for personal use

What is a debt consolidation loan?

Debt consolidation is combining a number of different debts such as multiple credit cards or unsecured loans into one single loan, usually with a lower overall interest rate that will save you cash in the long run. Often, people consolidate their debts by taking out a new personal loan to repay all other debts, getting a fresh loan term and interest rate.

What can a debt consolidation loan be used for?

Debt consolidation loans are typically used by people who have multiple forms of debt which have different interest rates and repayment dates. Consolidating these into a single loan can potentially result in a lower interest rate & makes budgeting or financial planning far less confusing

What debts can I consolidate?

A debt consolidation loan allows you to consolidate credit card debts, medical bills, car loans and other personal loans - making life easier and helping you to pay off your debts faster! For many, debt consolidation can bring financial freedom and peace of mind

What repayment options are available?

Repayments can be made in either fortnightly or monthly instalments by direct debit. Personal loan repayments are calculated depending on your choice of 2, 3 or 5 year loan terms, and whether you have chosen fortnightly or monthly repayments along with the interest rate you receive on approval of your loan.

How much can I borrow?

SocietyOne's unsecured debt consolidation loans range from $5,000 to $50,000 with flexible loan terms of 2, 3 or 5 years. We suggest borrowing an amount that best suits your situation, making sure you will be comfortable paying off each instalment. You can use our handy loan calculator to find out exactly what your repayment amounts will be based on how much you wish to borrow.

How do I make repayments?

Repayments can be made in either fortnightly or monthly installments, by direct debit.If you wish to make extra payments, please contact our customer service team on customer.service@societyone.com.au. There are no fees or penalties for making extra payments or paying off your loan early.

Got more questions? Head to our frequently asked questions page for more answers.

The Fine Print

Tier 1 borrowers will receive an interest rate between 7.50% - 10.89% p.a. (comparison rate 9.51% - 12.71%p.a.).  Tier 2 borrowers will receive an interest rate between 10.49% -12.69% p.a. (comparison rate 13.38% - 14.55% p.a.).  Tier 3 borrowers will receive an interest rate between 12.29% - 15.29% p.a. (comparison rate 15.38% -17.31% p.a.).  Tier 4 borrowers will receive an interest rate between 14.99% - 20.49% p.a. (comparison rate 18.48% - 22.38% p.a.).

Minimum period for repayment is 2 years and maximum period for repayment is 5 years. 3 years loans are also available and loans may be repaid early without any fees or penalties. Maximum annual percentage rate is 20.49% p.a. Maximum Comparison rate is 22.34% p.a.

Rates in the bank comparison table are based on an unsecured fixed rate personal loan of $10,000 over 3 years.  SocietyOne rate is the lowest available rate for a borrower with excellent credit (Tier 1 borrower).  WARNING: The comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

1. The establishment fee is added to your loan, based on your SocietyOne loan grade and the loan amount.
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.

Canstar 5-star Rating was awarded on 7th of November 2019 for the Unsecured Loan – Excellent Credit Product for the Unsecured Personal Loan profile.