SocietyOne Personal Loan – review 2026
Pros
- Established lender operating since 2012
- Loan terms from 24 to 60 months
- No early repayment penalty
- Risk-based pricing may reward strong credit profiles
- Online application with conditional approval typically within one business day
Cons
- Monthly fee of AUD 10 adds AUD 600 over a 60-month term
- Establishment fee of AUD 495
- Rates up to 25.99% p.a. for high-risk applicants
- Minimum loan of AUD 5,000
- Maximum term of 60 months shorter than some competitors
SocietyOne Personal Loan Review
SocietyOne was founded in 2012 as Australia's first peer-to-peer lender and has since evolved its funding model. It offers unsecured personal loans from AUD 5,000 to AUD 50,000 with loan terms of 24, 36, 48 or 60 months.
Interest rates range from 6.99% p.a. to 25.99% p.a. An establishment fee of AUD 495 and a monthly fee of AUD 10 apply. SocietyOne uses a risk-based pricing model, meaning the rate offered depends on individual credit assessment.
Fees and Charges
Establishment fee: AUD 495. Monthly fee: AUD 10. Early repayment fee: nil.
Requirements
- Australian citizen or permanent resident
- Minimum age 21 years
- Minimum income AUD 30,000 p.a.
- 100 points of ID required
- No defaults recorded in the past two years
Information in this review is based on publicly available sources and is for informational purposes only. Finatino.com is not a financial product broker. Before signing any contract, we recommend reading the provider's terms and conditions.