FAQs about loans

Personal loan details

  • Useful customer forms

    To help you manage your account, here are some useful forms you can download and print. Then you can return them to your closest GE Money branch or use our secure upload portal.

  • What can I use a loan for?

    You can use a GE Money Loan for most purposes. This could be anything from a holiday, education expenses, car purchase or repairs, home renovation, travel, unexpected bills, debt consolidation or even a wedding. If you have something in mind, give us a call to discuss a solution that suits you.

  • How do I make repayments?

    You can opt to make weekly, fortnightly or monthly repayments by Direct Debit, BPAY® at Australia Post outlets.

    Payment at Australia Post or via BPAY® will incur a payment handling fee. BPAY® and the BPAY® logo are registered trade marks of BPAY® Pty Limited ABN 69 079 137 518.

  • How much can I borrow?

    The minimum loan amount you can borrow is $3000 and the maximum will depend on you current financial situation

  • How long do I have to pay it back?

    The minimum term for a loan is two years, with a maximum of seven years. Set a loan term that suits you – if you can afford to repay your loan sooner, get a shorter term. A longer term will incur additional interest charges but your regular repayments will be lower.

  • How is GE Money different from other lenders?

    As a leading alternative to the major banks in personal finance, we strive to treat every customer individually, fairly and with respect you desire.

    We believe that personal finance should be simple. You can count on GE Money to tailor a simple, easy to understand loan that suits your needs.

  • Can I receive my contract via email?

    Yes, we can send your contract via email. This allows you to print the contract and read it in your own time.

    Then once you have signed it, there are three options to return it:

Application and approval

  • How long does it take to approve?

    In most cases if you apply before midday, you can expect to receive a decision on your loan application the same day.

  • How long until I get my funds?

    Once your loan is approved and signed, your funds are usually available the next day or no more than two working days (depending on your circumstances).

  • Do I need to provide security?

    This will vary depending on your personal circumstances and the loan amount you have applied for.

  • What’s the eligibility criteria?

    At a minimum, you will need to have a regular income, be an Australian Permanent Resident and be at least 18 years of age. Other credit approval criteria will apply depending on your situation.

  • What documents do I need to apply?

    To receive final approval on your loan application, you will need to supply us with the following original documents:

    Proof of Identity

    Option 1
    Current Australian Driver Licence/Learner Permit OR Proof of Age Card1 showing current address.

    Option 2
    Australian Passport (current or expired within 2 years) OR Current Foreign Passport (must NOT be expired) OR Centrelink/Department of Human Services pension card OR non-photo current Australian Driver Licence PLUS one secondary ID document.

    Secondary ID documents
    Utility bill2 OR rates notice (less than 3 months old) OR Centrelink/Department of Human Services Statement OR ATO Assessment Notice (less then 12 months old).

    Proof of income

    Two of your most recent payslips.

    If you are self-employed, your most recent tax return/financial statement.

    Depending on the details of your application, we may also require other documents in addition to those listed above.
    1NSW Proof of Age Card is not accepted.
    2Excludes mobile phone bill.

Fees, charges and interest

  • Is the interest rate on a GE Money loan variable or fixed?

    All GE Money loans feature fixed interest rates, so repayment amounts stay the same throughout the life of the loan. Having this certainty makes budgeting simpler and more manageable.

  • How is interest calculated?

    Interest is calculated daily and charged to your account on a monthly basis.

  • What are the fees?

  • Will I be charged a fee for making additional repayments?

    Additional repayments can be made at any time. However if you pay off your loan early, an early termination fee may apply. The amount will depend on how long you have left on your agreed term.

    Details on our fees and charges are available here.

    Payment handling fees apply for additional repayments made at Australian Post or via BPAY.

    BPAY and the BPAY logo are registered trademarks of BPAY pty Limited 69 079 137 518.

  • How can I avoid paying late fees?

    • Paying by direct debit saves you time and the hassle of manual repayments, it also helps you to avoid fees from missed or late payments.
    • Make sure you have sufficient funds in your account so all direct debits and other scheduled payments can be made.
    • If your circumstances change which could affect your repayments, call us on 1300 973 422 to discuss your options.
    • You can also make additional repayments so you pay off your loan sooner and save on interest1.

    1Early termination fee applies.

Debt consolidation

  • What is debt consolidation

    Debt consolidation involves gathering your credit card debts, loans and other liabilities and combining them into one loan.

  • What are the benefits of debt consolidation?

    Rolling your debts into one debt consolidation loan means you'll just have one regular repayment to manage. You'll be saving yourself a lot of effort and paperwork.

  • What type of debts can I consolidate?

    With a GE Money Debt Consolidation Loan you can consolidate your credit cards, store cards, personal loans, car loans or small debts.
  • Can you help me pay out my credit cards?

    Once your loan is approved, we can issue payout payments to credit providers on your behalf. If you're also closing your paid out credit card accounts, we can help you with the paperwork.

  • How much can I borrow?

    The minimum loan amount you can borrow is $3,000 and the maximum will depend on your current financial situation.

  • How long do I have to pay it back?

    The minimum term for a loan is 2 years, with a maximum of 7 years. Set a loan term that suits you - if you can afford to repay your loan sooner, get a shorter term. A longer loan term will incur additional interest charges but your regular repayments will be lower.

  • How do I make repayments?

    You can opt to make weekly, fortnightly or monthly repayments by Direct Debit, BPAY® at Australia Post outlets.

    Payment at Australia Post or via BPAY® will incur a payment handling fee.

    BPAY® and the BPAY® logo are registered trade marks of BPAY® Pty Limited 69 079 137 518.

  • How is GE Money different from other lenders?

    As a leading alternative to the major banks in personal finance, we strive to treat every customer individually, fairly and with respect you desire.

    We believe that personal finance should be simple. You can count on GE Money to tailor a simple, easy to understand loan that suits your needs.

  • Can I receive my contract via email?

    Yes, we can send your contract via email. This allows you to print the contract and read it in your own time.

    Then once you have signed it, there are three options to return it:

Application and approval

  • How long does it take to approve?

    In most cases, you can expect to receive a decision on your loan application by the next working day.

  • How long until I get my funds?

    Once your loan is approved and signed, your funds are usually available the next day or no more than two working days (depending on your circumstances).

  • What’s the eligibility criteria?

    At a minimum, you will need to have a regular income, be an Australian Permanent Resident and be at least 18 years of age. Other credit and approval criteria will apply depending on your situation. We can usually let you know if your application is successful by the next working day.

  • What documents do I need to apply?

    To receive final approval on your loan application, you will need to supply us with the following original documents:

    Proof of Identity

    Option 1
    Current Australian Driver Licence/Learner Permit OR Proof of Age Card1 showing current address.

    Option 2
    Australian Passport (current or expired within 2 years) OR Current Foreign Passport (must NOT be expired) OR Centrelink/Department of Human Services pension card OR non-photo current Australian Driver Licence PLUS one secondary ID document.

    Secondary ID documents
    Utility bill2 OR rates notice (less than 3 months old) OR Centrelink/Department of Human Services Statement OR ATO Assessment Notice (less then 12 months old).

    Proof of income

    Two of your most recent payslips.

    If you are self-employed, your most recent tax return/financial statement.

    Depending on the details of your application, we may also require other documents in addition to those listed above.

    1NSW Proof of Age Card is not accepted.
    2Excludes mobile phone bill.

  • Do I need to provide security?

    This will vary depending on your personal circumstances and the loan amount you have applied for.

Fees, charges and interest

  • Is the interest rate on a GE Money loan variable or fixed?

    All GE Money loans feature fixed interest rates, so repayment amounts stay the same throughout the life of the loan. Having this certainty makes budgeting simpler and more manageable.

  • How is the interest calculated?

    Interest is calculated daily and charged to your account on a monthly basis.

  • What are the fees?

  • Will I be charged a fee for making additional repayments?

    Additional repayments can be made at any time. However if you pay off your loan early, an early termination fee may apply. The amount will depend on how long you have left on your agreed term.

    Details on our fees and charges are available here.

    Payment handling fees apply for additional repayments made at Australian Post or via BPAY®.

    BPAY® and the BPAY® logo are registered trademarks of BPAY® pty Limited 69 079 137 518.

  • How can I avoid paying late fees?

    • Paying by direct debit saves you time and the hassle of manual repayments, it also helps you to avoid fees from missed or late payments.
    • Make sure you have sufficient funds in your account so all direct debits and other scheduled payments can be made.
    • If your circumstances change which could affect your repayments, call us on 1300 973 422 to discuss your options.
    • You can also make additional repayments so you pay off your loan sooner and save on interest1.

    1Early termination fee applies.

Car loans

  • What vehicles do GE Money provide finance for?

    Vehicles considered include new and used cars, motorbikes, personal watercraft, boats, caravans and campervans. At least 50% of the vehicles use must be for personal purposes. If over 50% of the vehicles use is for business purposes, then please call 1300 776 254.

  • What is the maximum age of the vehicle?

    If the car is over the age of 15 years old, you will need to apply for a personal loan instead of a car loan. Click here for more information on GE Money Personal Loans. In terms of other vehicles, they cannot be over the years listed below at the end of their loan term:

    • Motorbike – 10 years (at the end of the loan term)
    • Personal watercraft – 8 years (at the end of the loan term)
    • Boat – 12 years (at the end of the loan term)
    • Caravan – 12 years (at the end of the loan term)
    • Campervan – 10 years (at the end of the loan term)
  • How much can I borrow?

    The minimum loan amount is $5,000; however motorbike loans are available from $3,000. The maximum you can borrow is subject to lending criteria and will depend on your current financial situation.

  • How long do I have to pay it back?

    The minimum term for a loan is 1 year, with a maximum of 7 years1. Be sure to set a loan term that suits you - if you can afford to repay your loan sooner, opt for a shorter term. A longer loan term will mean your regular repayments will be lower, however the total payable interest will be more than a shorter term loan.

    1The maximum term for boats, personal watercraft and motorcycles is 5 years. Loans for other vehicles over five years are subject to loan amount and risk criteria.

  • How do I make repayments?

    You can opt to make weekly, fortnightly or monthly repayments by Direct Debit, at Australia Post or by BPAY®.

    Payment at Australia Post or via BPAY® will incur a payment handling fee.

    BPAY® and the BPAY® logo are registered trademarks of BPAY® Pty Limited 69 079 137 518.

  • How is GE Money different from other lenders?

    As a leading alternative to the major banks in personal finance, we strive to treat every customer individually, fairly and with the respect you deserve.

    We believe that personal finance should be simple. You can count on GE Money to tailor a simple, easy to understand loan that suits your needs.

    Find out more about us by clicking here.

  • Can I receive my contract via email?

    Yes, we can send your contract via email. This allows you to print the contract and read it in your own time.

    Then once you have signed it, there are three options to return it:

Application and approval

  • What are the eligibility criteria?

    At a minimum, you will need to have a regular income, be an Australian Permanent Resident and be at least 18 years of age. Other credit and approval criteria will apply depending on your situation.

  • What documents do I need to apply?

    To receive final approval on your loan application, you will need to supply us with the following original documents:

    Proof of Identity

    Option 1
    Current Australian Driver Licence/Learner Permit OR Proof of Age Card1 showing current address.

    Option 2
    Australian Passport (current or expired within 2 years) OR Current Foreign Passport (must NOT be expired) OR Centrelink/Department of Human Services pension card OR non-photo current Australian Driver Licence PLUS one secondary ID document.

    Secondary ID documents
    Utility bill2 OR rates notice (less than 3 months old) OR Centrelink/Department of Human Services Statement OR ATO Assessment Notice (less then 12 months old).

    Proof of income

    Two of your most recent payslips.

    If you are self-employed, your most recent tax return/financial statement.

    Depending on the details of your application, we may also require other documents in addition to those listed above.

    1NSW Proof of Age Card is not accepted.
    2Excludes mobile phone bill.

  • How long does it take to approve?

    In most cases, if you apply before midday, you can expect to receive a decision on your loan application on the day you apply.

  • When will the funds will be available?

    Once your loan is approved and signed, your funds are usually available the next day or no more than two working days (depending on your circumstances).

Fees, charges and interest

  • Is the interest rate on a GE Money loan variable or fixed?

    All GE Money loans feature fixed interest rates, so repayment amounts stay the same throughout the life of the loan. Having this certainty makes budgeting simpler and more manageable.

  • How is the interest calculated?

    Interest is calculated daily and charged to your account on a monthly basis.

  • What are the fees?

  • Will I be charged a fee for making additional repayments?

    Additional repayments can be made at any time. However if you pay off your loan early, an early termination fee may apply.

    An Early Termination Fee is payable, upon you paying out this contract early. The amount of the fee is - a. $750 if the original loan amount exceeds $12,000

    OR

    b. 6.25% of the original loan amount if $12,000 or less

    AND

    c. A or B multiplied by the number of unexpired whole months in the term at the time this contract is paid out, divided by the number of whole months in the term

Looking for more answers?

Call us on
1300 973 422
All GE Money branches are open Monday to Friday, 9am - 5pm (AEST).