Personal Loans made easy

Credit made for you

Cheap Loans

SocietyOne / Cheap Loans


Award winning personal loans


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Getting a personal loan with SocietyOne is quick and easy.

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Total repayment (inc. interest and fees)
Total interest
8.20% p.a.
Example interest rate*
8.27% p.a.
Comparison rate*

Cheap Loans

Unsecured cheap loans are quickly becoming the go-to credit product for many professionals and families in urgent need of additional cash flow. It’s easy to understand why – these loans are quickly processed, the application is done entirely online, and there’s a very low documentary requirement compared to more traditional long-term loans.

There’s a little more nuance to personal cheap loans than that, however. Here are some key insights to take note of before diving into online personal loans.

What should I consider before applying for cheap loans?

There are a number of factors to keep in mind when you apply for small loans. Here are a few key points.

Personal loan products are disbursed as lump sums

Unlike credit cards or credit lines with loan amounts that can be renewed or reloaned, personal cheap loans are disbursed in single lump sums. This makes personal loans ideal for large one-time purchases, or for debt consolidation. Personal loans are also ideal for on-hand finances, making them a popular choice for holiday trips or property renovations.

Assets as collateral are optional to get a small loan

If you want to get a bank loan online, pledging assets like vehicles or real estate is a standard requirement. With personal unsecured loans, there is no such requirement. This means you can borrow the maximum allowable amount without committing any personal assets as loan security.

Versatile and flexible personal loans

Because online cheap loans are unfettered from the restrictions of traditional loaning, they are more flexible in terms of loanable amounts, term lengths, and even interest rates or added charges. SocietyOne offers two types of loans to our clients, each with its own unique benefit.

Our unsecured personal loans have a loan floor of $5,000 and a ceiling of $50,000. Applicants can choose their loan terms from the two-, three-, or five-year options without any pledged asset required. Unsecured loans make for ideal holiday loans or green loans, as well as urgent funds for medical purposes.

Meanwhile, our secured loans – which require collateral – have a more competitive edge over unsecured loans. While the loan floor is the same as unsecured loans, secured loans can go up to $70,000 and has an additional seven-year term option. Secured loans are good choices for debt consolidation, loans for renovations, and personal loans for students.

You can customise your private loan based on your needs and preferences, and if you send an application through, our team will review and further personalise our offer to you. The healthier your credit score, the better the terms we can offer, so take advantage of our Credit Score Club before applying.

Credit management and made easier and more accessible

Your credit score can open up financial opportunities for you – or keep them shut if your credit rating is in poor shape.

The Credit Score Club is an open-membership service that provides our clients with resources to improve their credit profiles. Interested users are not required to have current cheap loans or applications with us – just register for an account through our website or mobile app and click ‘Get My Score’ on the Credit Score page to join the Club.

Gain unlimited access to effective insights into steering your credit profile back in the right direction.

What personal information do I need to provide when applying for personal loans?

Application and review processes differ between credit providers and lending platforms. For SocietyOne, we have some general requirements for eligibility that apply to all credit products.

  • Applicants must be at least eighteen years old at the time of their application.
  • Applicants must be Australian citizens or permanent residents.
  • Applicants must be earning an annual minimum income of $30,000.
  • It is preferred that applicants have healthy credit scores.

The SocietyOne team may request personal documents as part of the application process. For secured loans, proof of ownership for pledged assets is part of the application. Our team may request proof of identity, address, or employment. These documents are so our team can further personalise our loan offers.

How do I compare cheap loans online?

Comparison rates are a great way to determine the differences between loan offers from credit providers. Many online credit platforms outline on their website or platform their interest rates for their various loan products.

You can bookmark these pages or take a screenshot of their rates and compare these rates side by side – or you can make use of SocietyOne’s comparison rate table, which is found on our personal loans repayment calculator page.

Just scroll down the page to see how our rates compare to the top four credit providers in the country. We regularly update the calculator, so check back in from time to time to see how SocietyOne loans match up and how we can better offer competitive cheap loans to you.

Reach your goals with SocietyOne’s credit offerings

SocietyOne has been providing acclaimed credit products and services to thousands of clients in Australia since we opened our doors in 2012. We’ve only improved since and continue to do so. In our efforts to diversify our services to our loyal clients, we now offer the option to invest in loans through consumer lending.

When utilised to its full potential, your credit profile can lead you to opportunities of a lifetime, like investing in your future forever home or your dream business. It starts with small cheap loans as you build credit, and we want to help you build your profile.

Join the SocietyOne community – check your rate with us and apply for a personal loan today!


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