5.0 rating
Typical amounts $2,000 to $100,000+
1 to 7 year terms available
Same-day decisions possible for eligible profiles
Choose depending on loan size and rate needs
Lenders can pay off old accounts directly
One clear repayment with an end date
Share your income, debt balances and repayment goals.
Compare offers with direct-to-creditor payout features.
Provide ID, income proof and liability statements for assessment.
Old accounts are paid out, leaving you with one manageable repayment.
Debt consolidation loans allow Australians to combine multiple debts—like credit cards, personal loans and payday advances—into one facility with a single repayment. This simplifies budgeting, can lower your total interest cost and sets a clear end date.
These loans may be secured (e.g. against a car) for higher amounts or unsecured for speed and flexibility. The best option depends on your debt size, credit profile and affordability. Direct creditor payouts at settlement ensure old accounts are closed and interest stops accruing.
Jump to the section that’s most relevant for you.
Choose the structure that fits your situation and repayment goals:
A personal loan that doesn't require collateral, based on your creditworthiness and ability to repay, offering flexibility for various purposes.
People who need flexible funding for any purpose without risking their assets. Ideal for debt consolidation, home improvements, holidays, and old or exotic vehicles.
A personal loan secured against an asset offering lower rates than unsecured options. Use the funds for any purpose while benefiting from competitive secured rates.
Borrowers with valuable assets who want lower rates for debt consolidation, home improvements, or major purchases while keeping costs down.
An unsecured personal loan with fixed interest rate providing predictable monthly payments. Perfect for consolidating debt or funding personal goals.
Borrowers who want payment certainty and protection against rate rises for debt consolidation, home improvements, or planned expenses.
An unsecured personal loan with variable interest rates that can fluctuate with market conditions. Potentially benefit from rate decreases on your personal financing.
Borrowers comfortable with payment variability who want to benefit from potential rate decreases without putting assets at risk.
Debt consolidation loans can roll many kinds of balances into one facility:
One of the most common uses. Replace multiple high-interest card repayments with one fixed instalment loan, reducing interest drag.
Combine multiple small personal loans into one repayment to simplify budgeting and potentially lower your overall cost.
Bundle outstanding healthcare expenses into one predictable repayment instead of juggling multiple payment plans.
If you’re struggling with existing vehicle or appliance loans, consolidation can bring them together into one manageable structure.
Escape high-interest payday cycles by rolling them into one lower-rate consolidation facility with a clear finish line.
Prevent service disconnections by including outstanding utility bills in your consolidation loan, then paying them off over time.
Sam P
Challenge: Five credit cards with staggered due dates and rising interest.
Solution: Unsecured debt consolidation loan over 5 years with creditor payouts.
Sam in Adelaide was overwhelmed with five different card repayments every month, often paying late fees on top of high interest. Through Emu Money, Sam matched with a lender offering a 5-year unsecured consolidation loan. Funds were paid directly to the card issuers, leaving Sam with one fixed monthly repayment. This structure lowered stress, cut interest costs, and set a clear timeline to become debt-free.
Most lenders offer consolidation facilities between $2,000 and $75,000, with some stretching to $100,000 depending on credit profile, income and whether the loan is secured. Approval amounts are based on your total existing debts, affordability and overall commitments. Remember: larger limits can extend repayment terms and interest costs, so borrow only what you need to clear your current debts.
Balance over time
Eligibility is based on your ability to repay and your existing debt position. Stronger credit and stable income unlock sharper pricing. Lenders will assess bank-statement health and total liability levels before approving.
You may be eligible if you are:
An Australian resident aged 18+
Employed or self-employed with regular income
Able to show affordability via bank statements
Holding multiple debts suitable for consolidation
Meeting minimum credit score requirements
Complete our quick online application and upload supporting documents. We’ll match you to lenders who can pay off your creditors directly at settlement, leaving you with one clear repayment.
Documents you may need:
Photo ID (driver’s licence or passport)
Recent bank statements (3–6 months)
Payslips or income verification
Liability statements for debts to be consolidated
Asset details if applying for secured option
To maximise savings, compare both rates and fees across lenders, and check the comparison rate for a realistic cost. Ensure your old accounts are closed at settlement so interest doesn’t continue. Choosing a shorter term reduces total interest but increases monthly repayments, while longer terms ease the monthly strain but cost more overall. Avoid taking on new debt while paying off your consolidation loan to ensure long-term success.
Example: Consolidating $30,000 over 60 months at 12.99% p.a.:
Scenario | Approx. Monthly Repayment | Total Interest (approx.) |
---|---|---|
Keep separate cards (avg. 20%+) | $900+ | $15,000+ |
Consolidate into new loan | $684 | $11,040 |
Different structures and features impact cost and effectiveness. Here are the main options:
Secured loans allow larger limits and lower rates but require collateral such as a car. Unsecured loans are faster and flexible but may come with higher rates.
Fixed rates offer certainty and stability; variable rates can fluctuate, sometimes offering savings but with added risk.
Many lenders pay creditors directly at settlement to ensure debts are cleared. This prevents misuse of funds and ensures interest stops accruing.
Some lenders allow early payout or extra repayments without penalty, saving on interest. Others charge fees—check before you commit.
Better credit and income stability unlock sharper rates. Improving your profile before applying can save significantly.
Sometimes a balance transfer or refinancing mortgage may be a cheaper alternative. Compare all options before committing.
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I've got the best service at Emu Money and their willingness to help you out. Evette went out of her way to help assist for the desired results. I will highly recommend them to anyone. Evette's industry knowledge & service was exceptional! I highly recommend her & will definitely reach out should we need any financial services in the future. Thank you
Mazhar A.
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Brad was great quick and simple no headaches. just simple process and was done in quick time frame. cant thank him enough.
Danny D.
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I was so lucky to have had Evette as my broker through emu money, from the very first phone call Evette was amazing, so prompt and professional keeping me updated on the whole process of the application for finance for my new car, I highly recommend Evette!!!
Kaila B.
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Jackson was very helpful in getting me a loan for my daughters car. Very happy with the service he provided.
Rick D.
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Eujine made the process of getting a loan swift and easy, he's very trustable, I would highly recommend
Amila L.
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I had an excellent experience with Emu Money. Robyn was fantastic – professional, approachable, and genuinely easy to deal with from start to finish. She explained everything clearly, made the whole process stress-free, and went above and beyond to ensure I was comfortable with each step. It's rare to find someone so reliable and efficient. I'd highly recommend Emu Money, and especially Robyn, to anyone looking for great service and peace of mind
Cruize W.
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