Frequently Asked Questions

If you started an application for a Liberty loan contract before July 19 please click here for FAQs.

About Liberty powered by MoneyPlace

Liberty has partnered with MoneyPlace to help get you a better deal.

Our focus is to get you the money you need quickly and easily without the hassle of messy paperwork.

The whole application process is done online and you’ll be supported by an experienced lending specialist who’ll get you an outcome usually within one to two days.

MoneyPlace offers personal loans for a variety of purposes including to pay for a car, a holiday, medical or dental work, debt consolidation, home improvement or to help pay for a wedding.

The best borrowers get rewarded with the lowest rates, starting from a comparison rate* of just 7.65% p.a.

By partnering with MoneyPlace, Liberty is helping more Australians get financial.

About Our Loans

You can apply for a loan between $5,000 and $45,000 although the actual amount MoneyPlace approves will depend on your individual circumstances.

Once your loan is approved, you can use your loan proceeds for just about anything. You can borrow to invest in shares, consolidate your debts, purchase a car or scooter, solar battery or panels, help with house renovations, travel expenses, wedding costs, medical expenses. Your loan can be for just about anything you can think of.

One thing to keep in mind is that the loan has to be for a legal purpose.

If you accept your loan before 11am MoneyPlace will transfer funds to your nominated bank account that same day. If you miss the cut off, we’ll send your funds the next business day.

MoneyPlace needs to understand your financial position to make sure you can afford your loan. Providing your banking records helps us understand your income and outgoings. This helps us make the right decision about your loan application.

To save you time in getting this information to them, MoneyPlace partners with Credit Sense to create an automated process where they can receive your bank account statements instantly.

During the application process, Credit Sense establishes a temporary connection to your online banking platform, to download your statements instantly. Your login details are never stored or cached anywhere, and MoneyPlace cannot perform any transactions. It's fast, secure and safe.

Using this service means you don’t have to go through the rigmarole of finding your bank statements, scanning them, and finally emailing them. It can also speed up a decision on your application.

Getting a rate estimate

You can click here to get a rate estimate.

It will take you just 2 minutes to fill in a short questionnaire. You should have your drivers licence handy as we’ll need it to identify you.

Once you’ve filled in your form you’ll get a rate estimate instantly detailing everything you need to know about how much your loan will cost.

Don’t worry, this won’t affect your credit file.

MoneyPlace will show you a summary of your estimate, including an indicative interest rate, repayment amount, and fee.

No, getting a rate estimate does not affect your credit file.

When you get a rate estimate from MoneyPlace we access your credit file in a way that is not visible to other credit providers and does not affect your credit score.

MoneyPlace takes into consideration the information you’ve provided which may include your credit file, your credit score and its own lending criteria when determining if you can receive rate estimate.

Unfortunately, if you do not meet the lending criteria it won’t be able to offer you a loan, or calculate a rate estimate for you.

Credit Sense Data

Credit Sense is an Australian owned and operated company based in Brisbane. Credit Sense offers a safe and easy way for you to provide your bank statements to MoneyPlace electronically as part of your application. If you would like to know more please visit https://creditsense.com.au/consumers

MoneyPlace chooses to use Credit Sense because it:

  • Speeds up the application process
  • Makes it easier for their customers to apply
  • Is safe, secure and easy
  • Is 100% Australian owned and operated
  • Is used by leading Australian lenders

Applying for the loan

You can apply online, at any time, using a computer or any device that has an internet browser and internet connection. It should only take you about 10 minutes to complete your application. However if anything unexpected should pop up, just save your application and you can come back at any time.

To get a loan from MoneyPlace, there are some basic eligibility requirements. You must:

  • Be applying as an individual (no joint applications, or applications in your company or business name)
  • Be a citizen or permanent resident of Australia and currently residing in Australia
  • Be earning an income of at least $20,000 per year (you cannot be earning the majority of your income from Government benefits)
  • Be considered by MoneyPlace as having an acceptable credit record
  • Be at least 18 years of age
  • Not have any outstanding defaults
  • Not have any court judgements, writs, or bankruptcies
  • Not currently be late in paying any existing debts or bills

If you are self-employed, you must also:

  • Have been trading for at least 2 years
  • Provide the previous financial year's tax return, that shows income has been paid to you from your business, and the notice of assessment
  • Be borrowing for predominantly personal or personal investment purposes

You can get a rate estimate in 2 minutes from this website using the Apply Now button or click here.

MoneyPlace interest rates range between 7.65% and 26.99%. The rate you’ll be offered depends on our assessment of you as a borrower and the risk band category that you fall into.

This means that if MoneyPlace categorises you as an "excellent" borrower, you will be offered one of the lowest rates because it’s unlikely you will struggle to repay your loan. You might get an "excellent" rate if you have a strong credit history, excellent repayment history with existing debts, or a high credit score for example.

On the other hand, if your application is not as strong, the interest rate offered will be higher.

How MoneyPlace determines your interest rate estimate

MoneyPlace partially relies on information from your credit file such as your credit score, the number of inquiries you've had, and general history. It also uses the information on the rate estimate form including how you're repaying your current debts.

This information is analysed to determine an indicative rate just for you.

If you apply for a loan, your final interest rate will be confirmed when your credit assessment is finalised and your financial information has been verified.

Find out your rate now.

If we can’t help with your application, we’ll let you know as soon as we can so you can make alternative arrangements.

After you are approved

MoneyPlace will contact you, usually by email, to let you know the good news.

MoneyPlace fees, like its interest rates are personalised. As a rule of thumb, the lower your risk category, the lower the fee percentage.

This fee ranges from 0% to 5.5% of the loan amount, depending on your risk band. The fee starts at $0 and is capped at a maximum $950.

When you get a rate estimate MoneyPlace will tell you what your fee will be. So you don’t need to worry about working it out.

The fee will also be added to the loan amount you requested so that you’re not out of pocket.

MoneyPlace Establishment Fees are detailed below, including an example for a $15,000 loan.

Category Fee Example on a
$15,000 loan
A 0 - 2.75% $0 - 400
B 3.00 - 4.00% $450 - 600
C 4.50 - 5.00% $675 - 750
D 5.00% $750
E 5.50% $825

After my loan is in place

All scheduled loan repayments are made via direct debit, on a monthly basis. Your first repayment will be deducted one month after your loan is established.

Yes you can! You can make extra repayments at any time, at no cost, as often as you like. Traditional lenders tend to charge an early payout fee which can be very expensive. MoneyPlace encourages their customers to payout their loan earlier, to save as much interest as they can.

Remember, you won’t be able to redraw any extra payments you make.

Importantly, you’ll still be required to make your usual scheduled repayments even if you make an early repayment.

To make an early repayment, all you need to do is make an electronic transfer to your MoneyPlace loan account. We’ll send you details on how to do this once your loan is established.

The MoneyPlace customer service team are available to help you about anything that might pop up. Call 1300 008 003 between 9:00am–5:00pm AEDT weekdays, or drop the team an email at borrow@moneyplace.com.au and they’ll get straight back to you during business hours.

If you are not happy with MoneyPlace’s response, you also have the right to contact the Financial Ombudsman Service on 1800 367 287 or lodge a dispute via its website

e-max.it: your social media marketing partner

*Interest rates will range from 7.65% p.a. to 26.99% p.a. and will depend on our assessment criteria and the personal loan product you qualify for. Comparison rate is based on an unsecured $30,000 loan over a 5-year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Approved applicants only. Lending criteria applies.

*Interest rates will range from 7.65% p.a. to 26.99% p.a. and will depend on our assessment criteria and the personal loan product you qualify for. Comparison rate is based on an unsecured $30,000 loan over a 5-year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Approved applicants only. Lending criteria apply.

**Savings are based on the average amount of credit card and personal loan debt consolidated by MoneyPlace customers, using the average interest rate and fees for such accounts (as published by ANZ, Westpac, NAB, and CBA); and upon the average loan size, interest rate and fees paid by MoneyPlace customers over a 5 year loan term. Individual circumstances will vary.

Copyright © 2018 All Rights Reserved | Liberty Financial Pty Ltd (ABN 55 077 248 983) | MoneyPlace AFSL Ltd (ABN 88 601 061 438, AFSL 466327 and ACL 466327) | Rate estimate services are provided by MoneyPlace Pty Ltd (ABN 62 606 547 559) | Credit assistance is provided by MoneyPlace Australia Pty Ltd (ABN 33 169 627 338) | Loan offers are made by Australian Executor Trustees Limited (ABN 84 007 869 794) (AET). AET is the lender of record for Money Place AFSL Ltd as trustee for the MoneyPlace Lending Platform | Credit is subject to MoneyPlace’s standard terms, conditions and lending criteria. PO Box 206 Collins Street West VIC 8007.