based on 10 SocietyOne product reviews as rated by Mozo community

SocietyOne personal loans

Established in 2012, SocietyOne is an online marketplace lender which provides Australians with an alternative borrowing solution to the banks. SocietyOne’s peer to peer platform enables borrowers to connect with investors and secure a personal loan for a range of purposes including debt consolidation, a new car, holiday or home improvement. Unlike banks that often have a ‘one rate fits all’ loan, SocietyOne has a tailored rate system, which rewards good quality borrowers with lower rates based on their individual credit history.

SocietyOne offers the following personal loans

Rates and fees verified as correct at 19 April 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee
Car Loan - Excellent Credit (Fixed, Unsecured)

9.20% p.a.to 23.99% p.a.

8.45% p.a.to 25.29% p.a.based on $10,000
over 3 years

$595.00

Secured Personal Loan (Tier 1 Credit, Fixed)

8.20% p.a.to 12.99% p.a.

8.98% p.a.to 13.81% p.a.based on $30,000
over 5 years

$545.00

Secured Personal Loan (Tier 1 Credit, Fixed, 5 Year Term)

8.20% p.a.to 14.49% p.a.

8.98% p.a.to 15.32% p.a.based on $30,000
over 5 years

$545.00

Secured Personal Loan (Tier 2 Credit, Fixed)

14.14% p.a.to 14.49% p.a.

15.12% p.a.to 15.47% p.a.based on $30,000
over 5 years

$645.00

Secured Personal Loan (Tier 2 Credit, Fixed, 5 Year Term)

15.84% p.a.to 16.19% p.a.

16.84% p.a.to 17.19% p.a.based on $30,000
over 5 years

$645.00

Secured Personal Loan (Tier 3 Credit, Fixed)

16.29% p.a.to 17.99% p.a.

17.06% p.a.to 18.77% p.a.based on $30,000
over 5 years

$495.00

Secured Personal Loan (Tier 3 Credit, Fixed, 5 Year Term)

18.29% p.a.to 19.99% p.a.

19.07% p.a.to 20.79% p.a.based on $30,000
over 5 years

$495.00

Secured Personal Loan (Tier 4 Credit, Fixed)

19.39% p.a.to 20.99% p.a.

20.42% p.a.to 22.04% p.a.based on $30,000
over 5 years

$645.00

Secured Personal Loan (Tier 4 Credit, Fixed, 5 Year Term)

22.39% p.a.to 24.89% p.a.

23.46% p.a.to 25.98% p.a.based on $30,000
over 5 years

$645.00

Unsecured Personal Loan (Average Credit, Fixed, 5 year term)

23.39% p.a.to 25.89% p.a.

23.45% p.a.to 25.98% p.a.based on $10,000
over 3 years

$595.00

Unsecured Personal Loan (Good Credit, Fixed, 5 year term)

19.29% p.a.to 21.79% p.a.

19.42% p.a.to 21.94% p.a.based on $10,000
over 3 years

$595.00

Unsecured Personal Loan (Tier 1 Credit, Fixed)

9.20% p.a.to 14.19% p.a.

9.20% p.a.to 17.42% p.a.based on $10,000
over 3 years

$495.00

Unsecured Personal Loan (Tier 2 Credit, Fixed)

15.14% p.a.to 16.14% p.a.

18.62% p.a.to 19.64% p.a.based on $10,000
over 3 years

$595.00

Unsecured Personal Loan (Tier 3 Credit, Fixed)

17.29% p.a.to 19.79% p.a.

20.67% p.a.to 23.23% p.a.based on $10,000
over 3 years

$595.00

Unsecured Personal Loan (Tier 4 Credit, Fixed)

20.39% p.a.to 22.89% p.a.

23.75% p.a.to 26.31% p.a.based on $10,000
over 3 years

$595.00

Unsecured Personal Loan (Very Good Credit, Fixed, 5 year term)

16.84% p.a.to 17.84% p.a.

17.09% p.a.to 18.1% p.a.based on $10,000
over 3 years

$595.00

Unsecured Personal Loan - Excellent Credit (Fixed over 5 years)

9.20% p.a.to 15.69% p.a.

9.20% p.a.to 16.24% p.a.based on $30,000
over 5 years

$495.00

SocietyOne personal loans overview

Unsecured fixed rate personal loan:

SocietyOne fixed rate personal loans are suitable for small to medium-sized ticket purchases such as a car or holiday because the maximum loan amount is $35,000. You can choose between two, three or five year loan terms, and fortnightly or monthly loan repayments. Even though SocietyOne loans have a fixed rate, you can still make extra repayments and clear the balance earlier without paying a fee. Just keep in mind you can’t dip into them via a redraw facility. Something else to factor into the budget is an establishment cost which gets calculated from your credit ranking.

SocietyOne personal loan features at a glance

  • No monthly fees: With SocietyOne personal loans, you can focus on meeting your fixed repayments rather than paying extras like monthly fees.
  • Repayment flexibility: You can choose between a fortnightly or monthly loan repayment cycle. 
  • Extra repayments: Feel like you want to pay less in interest next month? SocietyOne lets you make extra repayments on your personal loan.
  • No break cost: Fixed rate personal loans normally involve break cost fees, but the SocietyOne option on offer is one exception.
  • Competitive rates: Once you apply for a SocietyOne personal loan, your application is auctioned off to a marketplace of investors. This means there’s a chance you could get a lower rate that you were initially quoted for because there is bidding involved.

How do you apply for a SocietyOne personal loan?

SocietyOne personal loans are all conducted online, so the turnaround is quick. Just fill out your details including info on what you are borrowing for, and sign up for an account with a username and password.

To apply for a personal loan with SocietyOne you will need:

  • To prove your identity with document details such as your driver’s license and passport number.
  • To provide evidence of your income, assets and liabilities.

How are SocietyOne personal loans rated?

Mozo users have rated SocietyOne personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
SocietyOne personal loans
Overall
Price
Features
Customer service
Convenience
Trust

10 Reviews

Recent SocietyOne personal loan reviews

SocietyOne Secured Personal Loan (Fixed)
Overall 10/10
Society One save my renovation budget blowout!

Society One came to my rescue when my home renovations went over budget. They were helpful and friendly from day one and have co to yes to be so thought the term of my 5 year loan. The entire application process was easy to complete and each fortnight I receive a friendly reminder text msg to ensure I have the money in me designated account ready for my repayment which I like because life is so busy it’s nice to know they have my back. Great product great people. Thank you

Read full review

Society One came to my rescue when my home renovations went over budget. They were helpful and friendly from day one and have co to yes to be so thought the term of my 5 year loan. The entire application process was easy to complete and each fortnight I receive a friendly reminder text msg to ensure I have the money in me designated account ready for my repayment which I like because life is so busy it’s nice to know they have my back. Great product great people. Thank you

Price
10/10
Features
9/10
Customer service
10/10
Convenience
9/10
Trust
10/10
Less
Luke, Queensland, reviewed 4 months ago
SocietyOne Personal Loan
Overall 1/10
BEWARE- this place is dodgy

Please stay away from this scam. Lumped a 25% extra on the loan amount in charges and broker fees. Simply kept saying, u signed the contract. A total scam BEWARE

Read full review

Please stay away from this scam. Lumped a 25% extra on the loan amount in charges and broker fees. Simply kept saying, u signed the contract. A total scam BEWARE

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Sam, South Australia, reviewed over 1 year ago
SocietyOne Unsecured Personal Loan (Fixed)
Overall 1/10
Don’t bother believing the TV ads

Don’t believe the TV commercials, Jackson was dismissive and short. Pretty ordinary all over.

Read full review

Don’t believe the TV commercials, Jackson was dismissive and short. Pretty ordinary all over.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
6/10
Trust
1/10
Less
Jim, Queensland, reviewed over 2 years ago
SocietyOne Unsecured Personal Loan (Fixed)
Overall 1/10
Buyer be aware.

Absolutely shocking customer service and misleading quotes.

Read full review

Absolutely shocking customer service and misleading quotes.

Price
2/10
Features
2/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Michael, Victoria, reviewed about 3 years ago
See all personal loan reviews
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