Pepper Money Personal Loans

Pepper Money Home Loans

Pepper Money positions itself as an ‘alternative lender’ and provides personal loans as well as home and car loans.

What personal loans does Pepper Money offer?

Pepper Money currently offers a single personal loan product, which comes with the following features:

  • Fixed and variable interest rate options available
  • Loan can be secured or unsecured
  • Interest rates tailored to the borrower and which depend on a number of factors
  • Terms ranging from one to seven years
  • Loan amounts between $5,000 and $50,000

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What can you use Pepper Money’s personal loans for?

A personal loan with Pepper Money can be used for many important life events and expenses, such as:

  • Debt consolidation
  • Going on a holiday
  • Renovations
  • A wedding

Check Pepper Money’s product disclosure statement (PDS) for more information on what you can and can’t take out a personal loan for.

What are the loan terms on Pepper Money’s personal loans?

Pepper Money offers personal loan terms ranging from one to seven years.

What are the fees on Pepper Money’s personal loans?

Pepper Money does not charge any establishment or ongoing fees on its personal loans. However, it does charge a $150 break fee and a $300 early repayment fee on its fixed rate personal loans.

Do Pepper Money personal loans come with minimum repayments?

Pepper Money does not specify any minimum repayments on its personal loans. However, depending on the terms of your personal loan you may be required to make a minimum regular repayment. Check the PDS for more information.  

How to apply for a Pepper Money personal loan?

Applying for a Pepper Money personal loan is an online process. Pepper Money says it should take 15-20 minutes, provided you have everything on hand.

But first, you may want to consider comparing your personal loan options with Canstar before committing.

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When applying for a personal loan with Pepper Money (or most providers in Australia for that matter), you generally need to meet the following criteria:

  • You must be 18 years old
  • You must live in Australia
  • You must be an Australian or New Zealand citizen or a non-resident holding a Temporary Residency Visa
  • Hold a regular income and good credit rating (see here for more info on how to get a good credit rating)
  • Show an ability to afford your loan repayments
  • Take out a loan of at least $5,000

When applying for a personal loan with Pepper Money, you may need to provide documents and ID such as:

  • A current driver’s license
  • Details of your current and previous (if applicable) employer
  • Details of your income, assets, expenses and liabilities
  • Previous tax returns if you are self-employed

About Pepper Money

Pepper claims to be Australia’s number one alternative lender, and says its mission is ‘to help people succeed’. It claims to have lent to over 200,000 Australians since 2000.

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Written by: James Hurwood | Last updated: May 22, 2019