Who are eMoney?

eMoney is a wholly Australian owned and operated non-bank lender, our funding is sourced from one of Australia’s top 4 leading banks. We are an online lending company. By cutting out the need for middleman we can offer low interest rates direct to the public.

Can I walk into a eMoney branch or speak to someone face to face?

eMoney is an online lending business, we do not have mobile lenders on the road which keeps our costs down, the savings are returned to you the borrower via low interest rates. You can call and speak to someone over the phone during business hours if you need any assistance at all.

How much can I borrow?

Across most of eMoney’s products you can borrow upto 90% of the value of the property offered as security, if the loan amount is greater than 80% of the value of the security you will also have to pay mortgage insurance.

What deposit do I need?

In general you will require a deposit of 10% of the value of the security, the deposit does not have to be money in an account, shares, equity and on some occasions a gift is acceptable.

What will my repayments be?

Your repayments are calculated based on your interest rate, loan term, your repayment frequency and your loan amount, to calculate this please go to our calculators page and use the “Loan Repayment” calculator.

Do I qualify for the first home owners grant?

In general if you are buying your first home and no other parties on the loan have received the grant previously than you should qualify for the first home owners grant, please visit www.firsthome.gov.au for more detailed information.

Why are eMoney’s interest rates so low?

eMoney manages to obtain such low interest rates by removing the middle man, we obtain our funds direct from one of Australia’s top 4 lenders and pass that low rate onto you without the need to load it with additional costs.

What is a comparison rate?

A comparison rate is an effective rate that is an indication of what the true interest rate would be when taking into account certain costs associated with a home loan, these costs will include the nominal interest rate, setup costs, ongoing fees and exit fees. The comparison rate is not how your interest is calculated.

What are the fee's involved in taking out a loan with eMoney?

eMoney standard home loan has no application fee, no annual fees and no ongoing fees. The eMoney Pro Pack loan has an annual fee of $330 which will reward you with 0.10 off the standard home loan rate. On all loans we require a fee of $275 to cover the cost of your valuation, this is not payable on application but only collected once the loan has been approved. This cost goes straight to the valuer to provide a valuation report of the property being offered as security.

What is an interest only loan?

An interest only loan means you are paying the interest component on the outstanding balance of your loan and not reduce any principal, this ideally will mostly benefit investors.

What is redraw?

Redraw is a feature on all eMoney loan’s which allow you to draw back on any extra money you have paid into your loan, this can be done through our phone and internet banking service.

Can I repay my loan early?

Yes, You can fully repay your loan at any time, there is a flat disharge administration cost of $295. please call 1800 366 639 for more information or for your payout figure.

How is interest calculated?

Interest is calculated daily based on the current balance of you loan and is charged monthly. The best way to reduce interest being charged is to make extra repayment or increase your minimum repayment amount.

What is a property valuation?

A valuation is a professional assessment of how much your property is worth and is used by eMoney for the assessment of your loan application.

How much stamp duty will I need to pay?

Please click on the Stamp Duty calculator to work out your stamp duty amount.

Do I need a solicitor?

When you have found your property it is recommended that you have the contract sent to a solicitor for review and assistance with the settlement process.

What is the difference between the standard eMoney products and the eMoney plus products?

The main difference between the standard eMoney products and the eMoney plus products is simply that the eMoney Plus products have 100% offset facilities attached to the full doc and low doc product, the option of having a credit card taken out with the home loan and finally the Plus full doc product allows you to borrow upto 95% of the value of the property. To have these features incurs a slight increase in interest rates over the standard eMoney products.