Eligibility Criteria

What is your eligibility criteria?

You must be at least 18 years old, Australian Permanent Resident or Australian Citizen and must be employed.
Centrelink benefits can only be used as a secondary income and not as the only source of income. If you are currently
in a Part 9 debt agreement, you must have entered the agreement for at least 12 months. If you have declared
bankruptcy, you must be discharged.

Can I apply for a loan if I am on Centerlink benefits?

Not if you are solely on Centrelink benefits. You need to be working and your Centerlink income must not exceed 50% of your total pay i.e. Centerlink benefits should not be greater than your work pay. All types of pensions and carer benefits are classified under Centrelink benefits.

Do you lend to self employed?

Yes but you must have at minimum latest tax return and the Notice of Assessment. Also, your net taxable income
must be at least $35,000. In some cases we might require 2 years of tax returns and the Notice of Assessments.

Getting Started

How does a nmoni loan work?

It’s a 3 step process.

Step 1 – You complete an application online and provide us with the supporting documents(these are requested via a confirmation email that is sent to you as soon as you complete the online application. Make sure you check your SPAM folder if you do not receive anything in your inbox).

Step 2 – Once you have submitted your supporting documents to us, we will have a thorough look at your current circumstances and will check which tier you fall under and which interest rate is applicable to you. We are a lender as well as a broker so we work in your best interest making sure you are offered the lowest interest rate in the market by comparing all the lenders that you fit into including nmoni. We then select a lender that offers the best interest rate that fits your current profile.

If approved, you will be emailed a loan contract to be accepted and signed.

Step 3 – Once signed (e-sign option available) and submitted to us, money will be deposited into your nominated bank account. The funds should hit your account same day/overnight.

How do I apply for a loan?

You can either apply online or in store, located at our Bundoora branch. Please note that the process is the same so it might be easier to apply online than in person.

What do I need to get started?

You will need to submit an application. Along with that we need your bank statements (which can be generated via an online link), 100 points of ids( i.e. a copy of your Drivers Licence, Medicare card and any document/bill with your current address on it) and 2 most recent payslips. If you receive additional income via Centrelink benefits, we might require an income statement. If self-employed, we will require 1-2 of your most recent tax return and a notice of assessment.

Can I apply for a loan over the phone?

No, we do not do applications over the phone but please feel free to call us on 03 9468 8200 to discuss your situation and loan requirements.

Loan Amount

What's your minimum amount?

Our minimum loan amount is $2001 and the minimum loan term is 1 year.

How much can I borrow?

There is no limit on the amount to be borrowed. The maximum amount we can lend will depend upon the purpose of the loan, your credit rating, the serviceability assessment and whether it’s a secured or unsecured loan as sometimes if security is offered, a better rate or a higher amount can be approved.

Do I need security?

We offer both secured and unsecured loans and you can apply for either. There is no limit on how much you can apply for, but offering security can increase the chances of getting a loan and sometimes it might be required depending upon the credit risk assessment as determined by our underwriting team.

How much can I borrow under an unsecured loan?

There is no limit for an unsecured loan. You can apply for any amount and a credit risk assessment will be done to determine the maximum amount that can be lent. It can be same as what you have applied for or sometimes it might be a lesser amount. In that case, the offer will be discussed with you to make sure that the lower amount still meets your needs.

Loan Process

I have submitted my application, what do I do now?

Once you have submitted an application you will be sent an instant confirmation email requesting supporting documents. You need to submit those documents to help us process your application.

The documents required will be:

  • A copy of your Drivers Licence( Passport or Birth Certificate)
  • A copy of your Medicare Card
  • Any document/bill with your current address on it
  • 2 most recent payslips if you are working
  • 2 most recent tax returns and the notice of assessments if you are self employed
  • Income Statement from Centrelink if you receive Centrelink benefits as an addition income only

How do I send my supporting documents?

You can email your supporting documents by replying to the confirmation email we sent you or can email them to directly to apply@nmoni.com.au or fax them to 03 9468 8222.

I have not received any confirmation email?

Once you have submitted an application successfully you will get a confirmation email instantly. Make sure to check your spam/junk email folder. If you have not received any email from us, it can mean that we have not received your application and you need to re submit your application. If you are applying during office hours, you can call us on 03 9468 8200 to confirm.

How long does it take to process?

Once you submit your application and send us the supporting documents, we endeavour to get an outcome within a few business hours ( in most cases within 2-4 business hours). If we require any additional information or document from you, it might take more time i.e. 1-2 business days.

Transfer Time

When will I get the money?

As soon as you sign the loan contract documents and submit them back to us, we will process the payment to your nominated bank account. The money will hit your account same day/overnight!

Credit History

Do you do credit checks?

We do not do upfront credit checks, meaning that we look at your loan application and bank statements first, to see if you meet our lending criteria. Once its confirmed then only we may do a credit check. We are a lender as well a broker. If you have given us the consent to refer your application to our partners, we do a hidden credit check to get a better understanding of your credit file. This is done to ensure that you are offered the lowest interest rate by comparing different lenders that you can fit into and selecting the best lender. This particular check does not hit your credit file.

Can I apply if I have previously been bankrupt or if I have a bad credit history?

Yes all discharged bankrupts are eligible to apply. If you are currently in a Part 9 Debt Agreement, you must have
entered the agreement for at least 12 months and must be up to date with your Part 9 repayments. Bad credit
applicants are eligible as well as long as your current circumstances are good and you are up to date on all your
current commitments whether financial or other. If you are still under bankruptcy and not discharged yet,
unfortunately we won't be able to assist you.

Bankrupt or Part-9

I am currently Bankrupt, can I apply?

No, you need to be discharged from your bankruptcy in order to be eligible with us.

I am currently in a Part 9 Debt Agreement, can I apply?

Yes, you are eligible to apply as long you have entered the Part 9 debt agreement for over a year now. You need to be up to date with your Part 9 repayments and any other commitments. You must not have borrowed 2 or more short
term loans(up to $2000) while under your Part 9 agreement.

We do not offer unsecured debt consolidation loans if you are currently on a Part-9 debt agreement.

Do you offer debt consolidation if I am in a Part 9 agreement?

No, we do not offer debt consolidation if you are currently in a Part 9 agreement.

Debt Consolidation

Do you do Debt Consolidation loans?

Yes, if you have loans or credit cards that you would like to consolidate into one loan, it might be only possible if you have good conduct with your current debts and no more than 2 payday lenders . If you are currently Bankrupt or in a Part 9 Debt agreement and are looking for an unsecured debt consolidation loan, unfortunately we won’t be able to assist you.


What happens after I am approved?

Once you are approved for a loan, you will be sent the loan contract documents via e-sign portal. You need to read through the contract carefully and if you are happy with it, e-sign it and submit it in order for us to complete the fund transfer or refer to settlement.

Why did I get approved for less?

Sometimes after a careful consideration of your income, expenses and your current circumstances, you might be approved for a lesser amount as it might be a better alternative for you to borrow less without over committing yourself. We will make sure that the amount offered meets your needs and you are happy to accept it. You always have the option to reject the offer if it does not satisfy your need.


What do I do if I need to miss a payment?

If your loan was funded via nmoni, then you will need to contact us at least 48 hours prior to the direct debit date. You can email us on bundoora@nmoni.com.au or call us on 03 9468 8200.

What do I do if I am experiencing a Financial Hardship?

You need to contact us as soon as possible so that we can discuss your current situation and to arrange a payment plan. You might be required to complete a financial hardship form and submit supporting documents to confirm your claim.


What is your interest rate?

Interest rate depends upon application to application as it is determined based on your credit risk assessment and your overall current profile.

Our interest rates start from 8.50% p.a. Once you have done an application and submitted your supporting documents to us, we will have a thorough look at your current circumstances and will check which tier you fall under and which interest rate is applicable to you. We are a lender as well as a broker so we work in your best interest making sure you are offered the lowest interest rate in the market by comparing all the lenders that you fit into including nmoni. We then select a lender that offers the best interest rate that fits your current profile.

Are there any other fees involved if I pay out my account early?

All loans financed by nmoni, do not incur any early termination fee. Any loan brokered via nmoni might have an early termination fee which can be checked at the time of approval. Majority of the lenders offer ‘no early termination fee’ loans.

Are there any hidden costs?

No, there is no hidden cost involved in any of our loans. Upon approval of your loan, everything will be put down in a free, no obligation credit contract quote. You do not have to accept the contract if you are not happy with the contract.

Cheque Cashing

Can I cash a cheque?

Yes, as long as we are able to verify it and it’s not a personal cheque. You will need to bring the cheque to our Bundoora office (Melbourne, Victoria). We will need 100 point of ID for a new client. Please feel free to call us on 03 9468 8200 to get a quote or if you have any other question.

How much do you charge to cash a cheque?

A free, no obligation quote is provided on 03 9468 8200. Please feel free to call us. Our fee starts from 5%. Please note that there is no additional fees on top of this.


Do you contact my employer?

Employment verification might be required for some loan application. We take your privacy very seriously so none of your personal details are shared with your employer or any other staff. We only contact your payroll or HR to confirm the details you have provided on the application form regarding your employment only.

Why was my application declined?

Your application can be declined due to any reason such as not meeting our lending criteria, low or negative serviceability, poor banking conduct, excessive gaming transactions, credit history etc. We may be able to provide you with a reason so that you can work on your profile for future.

We may also recommend/suggest another lender according to your current situation and sometimes suggest to wait a certain period before re-applying for further credit to help build your credit rating.

I cannot login to the application form, what should I do?

We have recently updated our application form so if you have created an account last time you applied with us it won’t work and you need to apply as a new client.

Can I refinance my current loan?

Yes, refinancing your current loan might be possible if you currently have a good payment history. It might be simply just going back to your limit or applying for a higher amount. Please call us on 03 9468 8200 to find out more about your refinance.

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