Learn all the key factors at play in Pepper Money’s personal loans with Savvy and compare your options here.
Fact checked
Pepper Money is an Australian-founded non-bank lender which specialises in personal, home and asset finance and has grown into a multinational company since its inception in 2000.
Before applying for your personal loan, though, it’s important to know exactly what you’re signing up for and understand the key ins and outs of the finance offer, which you can do right here with Savvy.
We simplify the comparison process for borrowers by breaking down different loan offers so you can quickly and easily obtain the information you need to make an educated choice on which is the best offer for you.
*Please note that Savvy does not represent Pepper Money for their personal loan product.
You can access rates as low as this (4.95% p.a. comparison) for secured loans or from just 5.95% p.a. (5.95% p.a. comparison) for their unsecured finance deals.
You can take out a personal loan for as little as $5,000 up to a maximum of $50,000, making it a suitable source of finance for a range of different purposes.
While Pepper only offers minimum terms of 18 months for their loans, as opposed to the standard 12, you can still take up to seven years to pay off your deal.
Crucially, you can decide whether to put up a valuable asset such as your car as collateral for your personal loan, which can allow you to cut down on the cost of your loan.
Your rate will stay locked in place throughout your repayment term, ensuring you’ll be able to budget more accurately and not worry about your instalments rising in cost.
Fortunately, you won’t have to worry about remembering to make your repayments manually each instalment, as you can set up direct debits and forget about it.
Perhaps the biggest benefit of a Pepper loan is that they don’t charge any application or recurring service fees on their loan, removing the need to budget for them.
Your application can be approved as soon as the same day you apply and have the funds advanced to your nominated account on the next business day.
On top of no fees for establishing your loan and none charged on a monthly basis, you can also pay your loan out early at no extra cost, helping you save further.
Although you can take out a $5,000 loan with Pepper’s unsecured finance offer, you’ll only be able to borrow a minimum of $15,000 if you opt for a secured loan.
While most loans and lenders allow you to make monthly contributions to your loan debt, you can only choose between weekly and fortnightly instalments with Pepper.
If you’re someone who feels more comfortable applying with a lender directly in-branch, you won’t be able to do so with Pepper (although you can apply over the phone).
Applying for a personal loan with Pepper Money isn’t a vastly different proposition from the processes employed by most private online lenders: it’s fast, efficient and designed to help you gain access to your funds quickly. The steps for submitting your application are:
Find out your indicative rate
Before you commence the formal application, you’ll fill out a form to find out your interest rate. This helps give you a clearer idea of the potential cost of your personal loan, rather than simply going off the minimum rate offered. This also won’t affect your credit score, so you don’t have to stress about it causing your rating to dip.
Complete your application
Once you have your rate, you can continue on and submit your application form via their website or over the phone. This should only take you around ten minutes to complete and is focused on letting the lender know more about you, your profile and your current financial situation to help them make an informed call on whether you’re a suitable candidate for a loan.
Submit your documents
You’ll also be required to send through copies of your documents, which will include the following:
Receive an outcome and funding
Pepper will assess your application and provide you with a response in as little time as under five hours. If successful, you’ll need to sign a contract confirming the conditions of your loan agreement and return it to them to have your approved funds sent directly to your nominated account by the next business day.
It's important to note that you can find the best loan for your needs by comparing your options with Savvy. We’re partnered with lenders from around Australia who can approve you for fast and affordable finance deals. Start the comparison process today and lock in a great loan deal.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
