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Maximum charges: 20% Establishment fee and 4% monthly fee (Comparison rate 199.43%) based on $1000 repaid over 6 months. Illustrative example: Loan amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly instalments of $57.60. Maximum charges: 20% Establishment Fee & 4% Monthly Fee. In comparison rate terms, the maximum comparison rate may be as high as 199.43%.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. The information on this web page is general information. The information does not take into account your objectives, financial situation or needs. Credit criteria, fees, charges, terms and conditions apply. Products and rates displayed are subject to the individual borrower's credit assessment. Examples only provide an estimate and are used for illustrative purposes only, not an offer for credit. The amount you can borrow, the interest rate and fees you receive along the product you qualify for may vary.
Viva Payday Loans > Pepper Loans
Last Updated: May 13, 2021

Pepper Loans

About Pepper Loans

Pepper is a loan provider in Australia that offers home loans and personal loans. Borrowers can take out personal loans between the amount of $5,000-$40,000, while home loans are available depending upon the affordability and need of the borrower. The lender is part of the Pepper Group Pty Limited. 

Key Features

The personal loans being offered by Pepper have the following key features:

  1. Both secured and unsecured personal loans are offered by Pepper. 
  2. Borrowers can take out an amount between $5,000-$40,000 as unsecured loans and $15,000-$50,000 as secured loans
  3. The loan term allowed on a Pepper personal loan is 18-36 months for loans under $8,000 and 84 months for loans between $8,000-$40,000. 
  4. The application process time is 10-minutes, whether applied over the phone or online. 
  5. Loan approval may be given within 5 hours of filing the loan application. 
  6. Funds are disbursed to the borrower’s bank account on the next business day after a loan has been approved. 
  7. Repayments are accepted on a weekly or fortnightly basis. Also, there are no charges on making early repayments. 
  8. The lender uses the Direct Debit facility to fetch loan repayments automatically from the borrower’s bank account. 

How Much Does A Pepper Loan Cost?

Pepper personal loans charge a 4% establishment fee up to $495 on all loan applications, once approved. The lender also charges a $20 fee for Security Registration and an Account Administration fee of $13/month. 

The lender also charges an interest rate of between 7.95%-16.95% per year (comparison rate of 9.56%-18.53% per year). These comparison rates are based on a loan amount of $30,000 that has been taken out for a term of 5 years. 

No early repayments fees and charges are applied in case a borrower wished to make early payments on their loan. 

The following table illustrates the total repayment borrowers can expect to make on a personal loan taken out from Pepper. 

Loan TypeCredit RatingLoan AmountLoan TermTotal Repayment
Personal LoanExcellent$5,00036 months$6,399.12
Personal LoanExcellent$20,00060 months$26,205.4
Personal LoanVery Good$20,00060 months$27,700.4
Personal Loan Very Good$30,00036 months$36,516.48
Personal LoanGood$30,00036 months$37,288.68
Personal LoanAverage$30,00036 months$39,394.68


Interest rates are fixed at the time of loan origination, to be paid over the course of the loan term. Also, interest rates are determined based on various factors, primarily the borrower’s credit score and affordability assessment that is conducted by the lender during the loan approval process. 

Actual rates may be lower in the case of secured personal loans due to lower risk for the lender. 

Pros and Cons

Borrowing from Pepper has the following pros:

  1. Those with an excellent credit history can secure loans at cheap rates as the lender charges an interest rate based upon the borrower’s credit score. 
  2. Joint applications are accepted.
  3. Loan amounts of up to $50,000 (for secured loans) are available.
  4. Borrowers have two ways of applying for a loan: online or over the phone.

Pepper personal loans have the following cons:

  1. Those with a bad credit history may not get approval for a loan 

FAQs

Does applying for a Pepper personal loan affect my credit score?

Yes, but only once you file an application as the lender conducts a credit check. Simply requesting the individual rate before the application will not have any impact on your credit score. 

Are joint applications accepted by Pepper?

Yes, Pepper accepts applications from both individuals as well as joint applicants. 

I have a bad credit score, can I apply for a Pepper personal loan?

Yes, all applications are judged on their individual merits. However, Pepper may not accept applicants with a bad credit score due to its high affordability requirements.

I have a default on my credit report, am I eligible for a Pepper personal loan?

No, Pepper does not accept applicants with a default, bankruptcy, or judgment on their credit file.  

Eligibility Criteria

The following eligibility criteria apply to loans taken out with Pepper. Applicants must:

  1. Have a loan purpose that should be valid. It must not be used for the following:
    • Payouts
    • Debt consolidation for loans taken out from payday lenders
    • Rental
    • Business purposes
    • Paying off any defaults or due on judgments 
    • Making any mortgage payments or arrears on other credit products
  2. Not have any defaults, court judgments, or bankruptcy (both discharged or ongoing)
  3. Be at least 18 years of age
  4. Be a permanent resident or citizen of Australia 
  5. Be an individual or file as a joint applicant 

Those filing a joint application can also have one individual that is unemployed with no source of income. 

Customer Support

In case you have any queries/concerns, you can reach out to a Pepper representative by sending an email at [email protected] or calling 1300 108 794. In case of complaints, send an email at [email protected] or call at 1800 356 246 between Monday-Friday from 8:30 AM – 5:30 PM AEST. 

Application Process

Borrowers have the option to apply for a loan online or over the phone by dialing 1300 108 794. 

To apply for a Pepper personal loan, borrowers need to follow these steps. 

Step 1 – Find your rate

To get an estimate of the rate that may apply to your loan, go on their website and click on the Get My Rate Today button, as shown in the image below. 

This enquiry will not have any impact on your credit score. 

Step 2 – Submit the application form

Once you have your indicative rate, apply over the phone or submit the online application form. 

The following documentation is usually required by Pepper when you apply for a loan. Gather these documents before starting the loan application to expedite the process. 

  1. The front & back of your valid ID (Australian passport, driver’s license, or Medicare card)
  2. Proof that you are employed with income level
  3. Details pertaining to any current outstanding loan obligations. 
  4. Proof that your stated residential address is indeed your own. 
  5. Information pertaining to any mortgage or rent payments you make. 
  6. Bank statements for the past 90 days

For a secured loan, borrowers can use a new or used car that is not older than the year 2000. Other acceptable vehicles include caravans, boats, bikes, and jet skis.

Step 3 – Get approved and receive funds

Once the loan has been approved by Pepper, funds will be disbursed to the borrower’s designated bank account over the next business day.