Pepper Personal Loan: Secured and Unsecured Fit

A Pepper personal loan can fund a consumer expense through secured or unsecured borrowing. The secured option puts an eligible asset at risk if repayments fail, while the unsecured option has a lower maximum loan amount. Choose the branch from the client’s purpose, requested amount and willingness to provide security before comparing their personalised quote.

Choose Secured or Unsecured Borrowing

Choose secured borrowing only when the client can provide an acceptable asset and understands the repossession risk. As at October 2026, Pepper Money’s personal-loan page gives the following limits, consistent with its 17 December 2024 fact sheet.

Product	Loan amount	Repayment term
Secured personal loan	$15,000 to $100,000, with personal loans solely for car purchase capped at $50,000	18 to 84 months
Unsecured personal loan below $8,000	$5,000 to $7,999	18 to 36 months
Unsecured personal loan from $8,000	$8,000 to $50,000	18 to 84 months

Both branches have fixed interest rates. Secured personal loans use eligible vehicles, watercraft or caravans as security. If the client defaults, the secured asset can be repossessed and sold, with the proceeds applied to the debt.

An unsecured personal loan doesn’t register an asset as security. The client still owes the money, and the lender can take legal action to recover unpaid debt. Moneysmart’s personal-loan guide explains this distinction.

For a hypothetical $12,000 furnishing expense, the requested amount falls within the unsecured range and below the secured minimum. A $60,000 renovation falls above the unsecured ceiling, so an eligible asset would be needed for the secured branch. Neither amount establishes affordability or approval.

Home improvements, travel, household purchases and debt consolidation are listed purposes. For vehicle-specific purchase and security checks, use the Pepper car loan guide. The Pepper loan guide separates other borrowing purposes without treating their criteria as personal-loan policy.

Screen the Borrower and Purpose

Screen the client’s residence, employment and credit history before requesting a full assessment. Pepper Money’s eligibility page, as at October 2026, requires Australian citizenship or permanent residence and age 18 or older.

Pepper Money lists employed applicants outside probation, including full-time and part-time workers. Casual tenure must exceed three months, and self-employed tenure must exceed 24 months. Centrelink can supplement pay as you go (PAYG) income, and both single and joint borrowers are listed.

Pepper Money’s secured target market determination, starting 8 July 2026, excludes unpaid defaults, current or prior bankruptcy and court judgements. It also requires Centrelink to be secondary income. Employment eligibility doesn’t replace the assessment of whether income covers living costs, existing debts and the proposed repayments.

Pepper Money excludes borrowing to pay mortgage or credit arrears, tax debts and defaults or judgements. Loans for business purposes and rent arrears are also excluded. Mortgage-cost funding is a listed purpose, but that doesn’t make overdue mortgage repayments acceptable.

For debt consolidation, collect balances and payout details for each debt, plus evidence of repayment conduct. Pepper Money’s personal-loan FAQs, dated 17 November 2025, say the lender pays creditors directly after settlement. Separate the debts to be cleared from any cash the client requests for another expense.

Pepper Money’s FAQs exclude financial or unpaid defaults and permit at most one paid telecommunications or utility default. Its eligibility page excludes active payday loans. A case involving the paid-default exception or a proposed payday-debt payout needs a specific issuer decision before application.

For mortgage-cost funding, itemise the costs and retain invoices or a settlement-cost breakdown. Show the personal-loan commitment in the mortgage affordability assessment. Use the Pepper residential mortgage policy guide for the home-loan criteria.

Assemble the Evidence

Assemble identity and financial records for every borrower, then add the secured asset’s records where applicable. As at October 2026, Pepper Money’s eligibility page requests the following evidence.

• Identification used in the application, including front and back images where applicable, plus proof of address.
• Evidence of income and employment, such as payslips.
• Bank statements showing income, spending and savings.
• Details of existing loans, credit cards, store cards and overdrafts, plus rent or mortgage payments.

Accepted identification on that page is an Australian passport, expired by no more than 24 months, or a current Australian driver’s licence. Pepper Money’s 17 December 2024 fact sheet calls for 90 days of bank statements for all applications. Its PAYG evidence is recent payslips or salary-deposit statements dated within 30 days of proposed settlement.

For self-employed income, that fact sheet lists a notice of assessment no older than 21 months, together with the latest business activity statement (BAS) or 90 days of bank statements. Keep the income period and applicant’s business identity clear so the assessor can reconcile deposits with declared earnings.

For secured borrowing, prepare ownership evidence, asset identification and registration details, plus the purchase invoice if the client will acquire it. Identify any existing finance over the asset. These records support the security assessment, with the application setting the exact documents required for that asset.

Pepper Money distinguishes a personalised rate enquiry from a full application. The rate enquiry doesn’t affect the client’s credit score. Proceeding to an application creates a credit enquiry on the credit report, so obtain the client’s authority before crossing that step.

Compare True Borrowing Cost

Compare a dated personalised Pepper Money quote with other offers using the same loan amount and repayment term. As at October 2026, Pepper Money’s personal-loan page states that final rates and repayments depend on the financial circumstances and security details verified during assessment.

Record the interest rate, comparison rate and repayment frequency beside each offer. Then compare fees and total repayments.

A comparison rate includes interest and most fees, but the advertised rate uses a specified example loan and term. Your client’s amount or term can produce a different cost.

Pepper Money advertises zero establishment, administration and early repayment fees on new personal loans, with zero security-registration fees on its secured branch. Its no-fee qualification permits third-party enforcement or recovery costs to be passed on when the borrower breaches the terms. Interest remains payable even when ordinary loan fees are zero.

For a hypothetical comparison, assume two quotes each fund $20,000 over five years with fortnightly repayments and no upfront fees. If the schedules contain 130 payments, $200 per payment totals $26,000, while $210 totals $27,300.

Those are invented payment amounts for illustration, not Pepper Money quotes.

Compare the $1,300 difference alongside the security each offer requires. A lower repayment obtained by extending the term doesn’t establish a lower total cost. Use the lender’s repayment schedule for the actual payment count and any final adjustment.

Record the Route and Unresolved Rules

Record whether the client will apply directly or through your accredited broker channel. As at October 2026, Pepper Money’s broker personal-loan page links to its Personal Loan Portal and accreditation process. The consumer personal-loan page provides the direct rate and application journey.

Pepper Money’s unsecured target market determination starts on 8 July 2026. It requires brokers distributing the product to hold an Australian credit licence or be an authorised credit representative, and to be accredited by the issuer. Personal-loan accreditation must cover this product before you use the broker route.

The credit provider is NF Finco 2 Pty Ltd. Now Finance Group Pty Ltd is its agent under Australian Credit Licence 425142, and Pepper Money Personal Loans is the Pepper Money brand. Match those parties against the client’s credit guide and credit schedule instead of assuming the residential mortgage lender is the same entity.

Use a short case note when a borrower detail needs a decision from Pepper Money. Include the requested product, amount and purpose, then attach the document that proves the detail. Useful questions are specific to the file.

• For a paid telecommunications or utility default, give the amount, settlement date and credit-report entry, then ask whether that entry is acceptable.
• For payday borrowing, identify whether the account is active and whether its payout forms part of the proposed consolidation.
• For secured borrowing, give the asset’s age, ownership and existing finance, then request confirmation of its acceptance and settlement requirements.
• For mortgage-cost funding, provide the itemised costs and ask which documents support the proposed use of funds.

Pepper Money lists broker support on 1800 737 737. Keep the answer and its date in the file before submitting a case that depends on it. The completed file must connect the accepted purpose and security to the personalised quote, repayment evidence and authorised application route.