Debt Consolidation Loans

Debt consolidation loans that reward good credit

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Low Rates

From 7.5% p.a (9.51% p.a. comparison rate*)

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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

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Super Quick

Get a personalised rate in as little as 1 minute

Personal loans that reward good credit

The better your credit history, the lower your rate!

Fixed rates from

7.5% p.a.

Comparison rates from

9.51% p.a.

Consolidate debt

Juggling more than one debt repayment at a time is not uncommon, so if you’re struggling to stay on top of your finances, debt consolidation may be well worth considering.

  • Budgeting is easier with one regular payment
  • Our great low rates mean you could save money on fees and interest
  • No monthly or early repayment fees mean you could pay your debt off sooner!
debt consolidation personal loan
debt consolidation loan

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Check Out Our Great Rates

I have an excellent credit score - What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 7.50%
from 8.40%
Comparison rate % p.a
from 9.51%
2
from 10.12%
3
Establishment fee
1
from 3.00%
from 3.00%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero
I have a very good credit score - What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 10.49%
from 11.69%
Comparison rate % p.a
from 13.38%
2
from 13.53%
3
Establishment fee
1
4.25%
4.25%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero
I have a good credit score - What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 12.29%
from 13.79%
Comparison rate % p.a
from 15.38%
2
from 15.78%
3
Establishment fee
1
4.50%
4.50%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero
I have an average credit score - What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 14.99%
from 17.49%
Comparison rate % p.a
from 18.48%
2
from 19.78%
3
Establishment fee
1
5.00%
5.00%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero
Example based on a SocietyOne Tier 1 loan for $10,000 with a 3 year term.Interest Rate: 7.5% -Comparison Rate: 9.51%* + Establishment Fee: 4% + Monthly Repayment : $320.39 = Total Loan Cost (includingfees)
: $11,534.20 (36 x $320.39)
Find out what your repayments could be with our repayment calculator

Check Out Our Great Rates

I have an excellent credit score
What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 7.50%
from 8.40%
Comparison rate % p.a
from 9.51%
2
from 10.12%
3
Establishment fee
1
from 3.00%
from 3.00%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero
I have a very good credit score
What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 10.49%
from 11.69%
Comparison rate % p.a
from 13.38%
2
from 13.53%
3
Establishment fee
1
4.25%
4.25%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero
I have a good credit score
What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 12.29%
from 13.79%
Comparison rate % p.a
from 15.38%
2
from 15.78%
3
Establishment fee
1
4.50%
4.50%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero
I have an average credit score
What is a credit score?
2 - 3 year loan
5 year loan
Interest rate % p.a
from 14.99%
from 17.49%
Comparison rate % p.a
from 18.48%
2
from 19.78%
3
Establishment fee
1
5.00%
5.00%
Monthly fee
None
None
Early repayment fee
Zilch
Zilch
Other hidden fees
Zero
Zero

Applying For a Loan is Easy!

1

Get Your Rate

In as little as 1 minute we’ll give you a rate based on your credit history

3

Get Your Funds

Once approved, we’ll have the funds in your account within
a few days!

2

Apply Online

Most people finish their application within 5 minutes

Don't Just Take Our Word For it
4.7/5 on Google reviews
4.8/5 on Productreview.com.au
I found the whole application process easy to navigate. I appreciated that every step could be done electronically. Overall, a good experience and a convenient way to consolidate a few smaller debts into one competitive loan.

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.
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!

Find Out Your Rate Now

Get Quote

Frequently Asked Questions

Things to Consider Before Getting a Debt Consolidation 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 allother 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.

Resources

A woman in a kitchen with a computer thinking.
When is debt consolidation a good idea?
Find out more
A hand reaching for a butterfly in the woods.
What is debt consolidation, and should you be doing it?
Find out more
A person with a phone looking at the SocietyOne quote page.
Repayment calculator
Find out more

Resources

A woman in a kitchen with a computer thinking.
When is debt consolidation a good idea?
Find out more
A hand reaching for a butterfly in the woods.
What is debt consolidation, and should you be doing it?
Find out more
A person with a phone looking at the SocietyOne quote page.
Repayment calculator
Find out more

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 between14.99% - 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 are based on an unsecured fixed rate personal loan of $10,000 over 3 years to 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.