Our friendly and knowledgeable customer service team are here to answer your calls should the need arise. If the team is not immediately available, our systems let you schedule a call back at a time that best suits you. Or if you prefer, you can email or text us.
1300 330 295
Monday - Friday 9am - 5pm
0488 844 299 (SMS Only)
Frequently Asked Questions
About Symple Loans
Is Symple a bank?
No – Symple is not a bank. We are a privately held, digital marketplace lending company specialising in Personal Loans in Australia. Symple is licensed by The Australian Securities & Investment Commission (ASIC) and offers better, faster, easier and generally a lower interest rate loans to eligible customers in Australia. As a marketplace lender, we use state-of-the-art digital lending technology to keep our costs down, sell loans directly to customers and then fund those loans with money provided by private Australian investors.
What’s different about a loan from Symple?
Most banks offer customers a “one size fits all” loan and interest rate. At Symple, we let our customers configure their loan in a way that’s best suited to them.
Personalised Interest Rates
We offer every one of our customers a personalised interest rate. Customers with an excellent credit history are rewarded with interest rates that are less than ½ the rate being offered by most banks. If your credit is less than stellar, we consider other factors in deciding whether we can approve your loan request but just know that we may not be able to offer you the best rate.
We would encourage all customers to complete the Symple Quick Quote process before submitting an application. Doing that will give you a sense for whether the interest rate we can offer you is better than what you can get elsewhere. We want you to make the right decision and get the best rate being made available to you – an important part of that is getting and knowing your Symple loan rate upfront.
A Better Experience
We’ve built Symple from the ground up to offer our customers the things they’ve told us are most important to them - interest rate transparency, simplicity, ease and speed.
- All customers can request and get a personalised rate quote in just about 2 minutes (which does not impact your credit score).
- Our online loan application has been designed to be completed in about 7 minutes
- You will receive a response in just 60 seconds on the outcome of your application
- Funds are generally transferred into your account within 24 hours when approved
Applying For A Loan
Am I eligible for a loan?
To be eligible for a Symple Loan, you must:
- Be at least 18 years of age
- Be applying as an individual (we do not take joint applications)
- Be an Australian or permanent resident of Australia and currently residing in Australia
- Be earning an income of at least $25,000 per year
- Not be bankrupt
If you are self-employed, you must also:
- Have been trading for at least 2 years
- Provide the previous financial year's tax return, that shows income has been paid to you from your business, and the notice of assessment
How do I apply?
We are 100% online. You can apply at any time, and it should only take you around 7mins to complete your application. If you can’t finish your application in one go, you can log in later to continue.
What will my interest rate be?
Our interest rates are tailored to you, they range from as low as 5.99% to 25.99%. You can complete a 2min quick quote to get your indicative interest rate.
Why did I not receive an rate estimate?
Our indicative interest rate is based on the information you have provided, your credit file and credit score. Unfortunately, if you do not meet our lending criteria we will not be able to offer you a rate estimate.
How much can I borrow?
You can borrow from $5,000 to $50,000.
How long do I have to pay off my loan?
Our loan term is from 1 to 7 Years
Completing Your Loan Application
How long does an application take to complete?
You should be able to complete your application in about 7 minutes.
What do I need to have ready and submit?
To speed up your application process, it will be handy to have:
- Your ID with you (i.e. Driver’s Licence, Medicare card or Passport).
- Your Internet Banking Credentials to send through your bank statements
How long will it take for my application to be reviewed?
For applications that require further review, we will usually respond to you within 24 hours – 48 hours.
How do I check on the status of my application?
You can login to our secured portal with your username and password.
Alternatively, you can call us on 1300 330 295 to check the status of your application or you can email us email@example.com
Is my application data private and secure?
Can I reapply for a loan if I’m not approved?
We would encourage you to reapply if your financial situation improves at least 3 months after your application is declined.
Why was my application declined?
If your application was declined, it’s likely that your application did not meet our credit lending criteria. Factors that can affect whether your loan is approved include your credit history, the stability of your income, and how you have managed your accounts, loans and credit cards. As a responsible lender, Symple want to ensure that loans provided are appropriate to your personal financial situation.
Why do you need to verify my income?
As a responsible lender we are required to verify your income through your bank statements and/or other financial statements to ensure the loan is suitable and affordable for you.
What documents do I need to provide?
Please provide one of the following documents based on your employment status:
Full-time and part-time PAYG employees
- Recent bank statements showing your salary credited to your Financial Institution in the last 3 months; and
- If you are recently employed (i.e. less than 3 months), please provide: a) Two most recent pay slips showing year-to-date income, your name, and employer name. b) A newly signed employment contract with type of employment and current base remuneration, where start date is within 30 days of application.
- Last 2 financial year’s personal and business signed tax returns with Notice of Assessment.
- Last 2 financial year’s company tax returns with Notice of Assessment.
- Last 2 financial year’s tax returns of the trust confirming trust income with Notice of Assessment.
- Three recent bank statements showing your government income credits, with your most recent credit made within 30 days of your application.
- A letter or statement from Centrelink dated within the last 60 days confirming entitlements and incomes.
- Rental Income – Three recent bank statements showing continuous rental credits.
- Interest and Dividends documentation – Account summary or Shareholder Statement.
Interest Rates, Fees & Charges
What interest rate will I be offered?
Eligible customers will be offered a personal loan from 5.99% to 25.99% per annum. The rate you are offered is determined primarily by your credit score. Better rates are offered for customers with good credit scores and credit history.
Why is the interest rate on my Loan Offer different to my Rate Estimate?
When we provide you with a Rate Estimate, we ask you a few short questions to help us identify you and quickly estimate your likely interest rate. This is to help you make a decision about applying for a loan from us.
After we assess your full loan application, including any subsequent documentation required, we have a better understanding of your individual financial circumstances and can determine the exact interest rate of your Loan Offer. In some cases, your interest rate can differ from what we provided on your Rate Estimate. This is due to a number of factors such as your credit history, the stability of your income, your living expenses and how you have managed your accounts, loans and credit cards. Our assessment process is geared to make sure you get the right rate for your personal circumstances.
What will my monthly repayments be?
Your monthly repayment amount will be provided in your letter of offer for your personal loan.
How are my monthly repayments calculated?
The monthly payment amount will depend on the amount borrowed, the duration of your loan, your interest rate and any fees and charges.
What other Fees & Charges apply?
Details of applicable fees and charges are contained in your letter of offer and include the loan establishment fee and a monthly service fee of $10. You will also be charged fees if payment is not received by the required due date each month, or if there is insufficient funds in your account to make the repayment.
Are there any additional fees or charges if I pay off my loan early?
No. There are no additional fees or charges should you wish to pay off your loan early.
After Your Loan Is Approved
Will I be given a loan contract?
If your application is approved, you will be provided with a letter of offer which provides all the terms and conditions of your loan.
How long will it take for the money to be in my account?
If you sign your letter of offer by 1pm, we will initiate a funds transfer to your account on the same day. If you are with a major bank, you should receive the funds in your account the next business day.
Will my credit score be impacted?
Applying for a Symple Loans rate estimate will not affect your credit score. Your credit score may be affected when you submit the final application.
Generally, your credit score changes when your credit bureau report is updated with new information including credit enquiries (when you apply for a loan), and details of outstanding or overdue debts.
When is my first payment due?
The first payment will be deducted one month after your loan is drawndown.
How often do I have to make payments?
Monthly payments will be automatically debited from your nominated bank account.
How do I know when my next payments are due?
You can check when your next payment is due by logging into your account on our website, or by contacting Symple Loans customer service team.
Can I pay off my loan early?
Yes. You can pay off your entire loan and/or make early repayments without any additional fees or charges. Just log in to your account from the website to obtain your bpay reference number to make additional repayments or to obtain your final payout quote.
What do I do if I cannot make my monthly payment?
If you anticipate difficulties making your monthly payments, please contact us and we’ll work through it together. Our Team will take the time it needs to review your individual situation, help assess your options and assist with a plan for moving forward.
Managing Your Loan
Where can I view details about my loan?
You can login into your account via the Symple Loans website to view details of your loan including:
- Loan start and end date
- Loan amount and term
- Your current loan balance
- Next payment due date
- Today’s payout amount
- Overdue amount
- Transaction history
Can I request that my loan be increased?
Yes. You can apply for a loan increase by submitting a new application online or you can contact us on 1300 330 295 and our loan specialist will be able to assist you through the process.
How do I reset my password?
You can reset your password here.
How do I update my account details?
You can update your account details online by logging into your account via the Symple Loans website. You can update your profile details including mobile number, address, and change your password.
How do I change my Direct Debit Account Details
To change your current direct debit account details, please complete and sign the Direct Debit Form and return to firstname.lastname@example.org. before your next repayment is due.
Financial Assistance & Hardship
There may come a time where you find yourself having difficulties repaying your loans. It happens and if it does, please contact us and we’ll work through it together. Our Team of specialists will take the time it needs to confidentially review your individual situation, help assess your options and assist with a plan for moving forward.
Symple Financial Assistance Contact Information:
Phone: 1300 330 295