Loans For Air Conditioner To Keep You Comfortable

Loans for air conditioner may be an option for keeping cool this summer. After all, installing an air conditioning unit can be an expensive ordeal. However, instead of suffering in silence this summer, consider Monzi’s lender-finder service. We may be able to match you with a credit provider potentially offering loans for air conditioner.

Monzi is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

Should I apply for loans for air conditioner?

Only consider a loan for an air conditioning unit if you are already certain you need one. Obviously, if you’ve ever experienced an Aussie summer, you quickly realise life can be pretty unbearable without one.

Before applying for finance, ask yourself the following:

  • Do I really need an air conditioner?
  • Am I able to afford it without a loan?
  • Am I able to afford the loan’s repayments?
  • How long will it take to repay the loan?

Before you purchase an air conditioner

Before making any major purchase, like an air-con unit, it is important you do the necessary research. After all, choosing the incorrect product can result in not only a poorly conditioned home but also a sizeable hole in your wallet.

Luckily, Monzi is here to make your life a little easier. We’ve answered some of the most common air conditioner related questions found online.

What is a ducted air conditioner?

Ducted air conditioners are a common sight in public buildings and workplaces. However, they are also becoming increasingly popular for domestic use.

In essence, ducted air conditioning involves a central location where the air is cooled. Then, fans send the air into each room through a system of ducts. This makes ducted air conditioners great at keeping a large area at the same temperature.

What is a split air conditioner?

Traditionally, split air conditioners are the most common for domestic air conditioning units.

Unlike ducted, split air conditioners have a separate compressor and indoor unit for each room. In addition, units are connected via pipes, not ducts. By having a separate unit for each room, homeowners are able to control each room’s temperature.

Understanding the difference between the two will allow you to choose between applying for ducted air conditioning finance.

Which is cheaper?

Generally, ducted systems tend to cost more upfront. However, these systems are generally better at cooling larger areas than split systems, so they may be better value in the long run.

Although, if you only need to cool a small area, a split system may work out to be more cost-effective.

You may want to get in contact with a qualified refrigeration mechanic for an answer more tailored to your individual circumstances.

What size air conditioner do I need?

Before you begin shopping for air-con units, it is imperative you know the size of the room you want to cool. In other words, multiply the length of the room by the width to calculate the floor space.

Once you have done that, consider the table below.

Small roomMedium roomLarge room
Room size (square meters)10 to 20 m²20 to 40 m²40 to 60 m²
Minimum kilowatts required2.8 kW4.2 kW5.6 kW

Keep in mind, the above table is just a guide. Before making any decision about loans for air conditioner, you should get in contact with a professional.

Who can install my air conditioner?

The tradies who specialise in air-con units are known as refrigeration mechanics. Ideally, you should always aim to employ a reputable and licensed refrigeration mechanic to install your new unit.

In addition, sparkies may be able to install certain air conditioner systems, but they will need to hold a license issued by the Australian Insulation Council.

How much does it cost to replace an air conditioning unit?

Air conditioning units all vary in price. So too does the cost of labour and installation. As a result, we cannot give you an estimate on costs.

What we can say, however, is you should have your system regularly cleaned. Many Aussies do not realise how dirty air con units can get, nor understand the level of care.

In short, having a refrigeration mechanic make regular check-ups, could help you postpone the need for a new unit for many years.

Can you finance air conditioners?

In short, yes!

Consumers are able to finance air conditioners. This may be through a payment plan offered by the retailer. On the other hand, consumers could apply for a personal loan to cover the cost of an air conditioner.

Consumers are able to cover the cost of a new aircon, and they can repay their lender over the next several months.

It is up to you how to finance air conditioners. If, however, you are considering a personal loan, Monzi’s lender-finder service may be able to make life easier for you.

What does Monzi do?

In essence, Monzi is in the business of making Aussie consumers’ lives easier. How do we do this? By trying to match everyday consumers with quality online credit providers.

Therefore, instead of spending half your day applying with different lenders, you can simply lodge one application on our website. Then, our automated system will try and match you with a potential credit provider that may be able to help.

Monzi makes finding so easy loans a breeze.

Am I eligible?

To be eligible for Monzi’s lender-finder service, you will just need to meet the following criteria:

  • At least 18 years of age.
  • Hold an Australian Citizenship or Permanent Residency.
  • Have a personal email and phone contact.
  • Have received income into a personal bank account for the past 3 months.

If you meet the above criteria, you’re one step closer to matching with a potential lender.

Loans for air conditioner units against purple wall with shrub

How do I apply for loans for air conditioner?

Monzi’s lender-finder service is incredibly easy to use. Moreover, you could be paired with a lender in no time. Therefore, your days of suffering on the couch with four fans blasting around you could be over.

The best part? You could lodge an application on our website within minutes. Here’s how you can do it:

  1. Select the loan amount you’re thinking of borrowing as well as the repayment terms.
  2. Complete the submission form.
  3. Our system will try and match you with a lender.
  4. We’ll let you know what the outcome is.
  5. If you receive easy loan approval from a lender, you’ll be sent a digital loan contract.

Cash in your account ASAP

If you’re sitting in a blow-up Kmart pool, trying to stop yourself from melting, you probably want that air-con up and running as soon as possible.

For this to happen, however, you’ll need your loan to be processed and transferred into your account pronto! Luckily, both Monzi and our network of lenders are on the same page. In other words, they want to get that cash into your account as quickly as you do. That’s sure to be a relief when you need cash today.

Access to funds, however, is dependent on inter-bank transfer times.

Bad credit loans for air conditioning installation

Therefore, instead of obsessing over your credit score, the lender Monzi potentially pairs you with may be able to focus on your:

  • Employment status.
  • Income and expenses.
  • Capacity to repay the loan without experiencing hardship.

Monzi has aimed to associate ourselves with credit providers who share in our core beliefs. So, if you need a financial second chance, consider using our lender-finder. We might be able to match you with lenders who can offer personal loans for bad credit today.

Will you perform a credit check?

As the lender-finder, Monzi will not perform a credit check on your application nor will we offer no credit check loans. Instead, we aim to compile your info into an application and match you with a potential lender.

The lender you may be paired with, however, could potentially perform a credit check as part of their assessment procedures. Moreover, Monzi cannot guarantee whether or not the lender will offer no credit check loans with instant approval.

Although, as we mentioned above, approval does not always hinge on your credit score. Instead, lenders may still be able to offer bad credit loans for air conditioner.

Small, handy little loans

Sometimes, a large personal loan simply isn’t necessary. After all, sometimes you only need a small loan to get the job done. If this sounds like you, Monzi’s network of lenders may be able to offer small loans from $300 to $2,000.

These loans are unsecured, meaning borrowers do not need to nominate any of their assets as collateral against the loan. So, if are not the registered owner of a vehicle, small unsecured cash loans might be your best option.

Looking for something a little larger?

If you need a little more oomph in your bank account, you have the option of applying for bigger, secured loans. In general, Monzi’s network of lenders may be able to offer both medium and large secured personal loans.

Medium personal loans:

  • From $2,100 to $4,600.
  • Repaid over 13 to 24 months.
  • Secured.

Large personal loans:

  • From $5,000 to $10,000.
  • Repaid over 13 to 24 months.
  • Secured.

The repayment terms of your loan may vary depending on the lender you’re paired with.

What can I use as security

For any personal loan over $2,000, borrowers will need to attach one of their assets as collateral. Generally, lenders will be able to accept a vehicle as security. Keep in mind, consumers must be the registered owner of the vehicle they wish to use as security.

Attaching security to a loan reduces the level of risk posed to the lender. In particular, if a borrower is unable to repay their loan, the lender is able to sell the asset and recoup some of their losses.

Finally, because of the reduced risk on secured loans, lenders may be willing to offer larger amounts with lower rates.

What happens if I can’t repay my secured loan?

If a borrower cannot make the repayments on their secured loan, the lender has the legal right to repossess and sell the asset used as security. However, this is often the last resort of credit providers.

Keep in mind that, as a consumer, you have your own rights. For example, your credit provider can only begin the repossession process if:

  • You are behind on your repayments.
  • Your lender has provided you with a default notice, giving you 30 days to pay the overdue amount.
  • You have not paid the overdue amount, reached a resolution, or lodged a request to postpone the repossession within the 30 day period.

Learn more about your rights via ASIC’s Moneysmart website.

How can I compare loans?

Comparing different loan products can be confusing if you aren’t experienced in finance. In addition, things can become even more difficult if you are comparing loan products from different lenders.

Luckily, comparison rates make things easier for us. What is a comparison rate exactly? Don’t stress – we’ll explain it all.

In essence, a comparison rate is a rate that helps consumers work out the true cost of a loan. More specifically, it reduces to a single percentage figure most of the fees and charges associated with a loan. Therefore, consumers can easily compare loan products from different lenders.

For example, if a loan’s interest rate is 8%, the fees and charges are 0.5%, the comparison rate would be 8.5%.

Cash loans for air conditioner

The cash loan you may be approved for through one of our lenders can be used and spent essentially like cash. In other words, you can use your funds to cover almost any personal cost.

As a result, you could use your air-con loan to cover:

  • The air conditioning unit itself.
  • Delivery fee.
  • Installation costs.
  • Any additional costs you may come across.

What about payday lenders?

In general, Monzi will not match you with a lender offering payday loans Australia. While the convenience of payday loans may be attractive for certain consumers, they may not always be your best option.

Often, payday lenders may only offer short term loans of up to $2,000. In addition, certain payday lenders may be inflexible with the repayment terms offered.

Personal loans, as an alternative to payday loans, may be able to offer loans from $300 to $10,000, with repayment terms ranging over several months to years.

Put it this way, if you have to repay a $2,000 payday loan over 4 weeks, the regular repayments will be high and potentially unmanageable. On the other hand, the repayments on a $2,000 personal loan spread over several months may be more practical.

What if I receive Centrelink?

Being a Centrelink customer might disqualify you from applying with traditional lenders, like banks or credit unions. However, alternative lenders offering personal loans may do things a little different.

In other words, the lender Monzi may be able to pair you with could potentially regard regular Centrelink payments as a form of income.

These lenders will then aim to focus on your normal income and expenses and will look to confirm your repayments will fit comfortably within your regular budget. Therefore, Monzi’s network of reputable credit providers may be able to offer Centrelink loans from $300 to $10,000.

And if I’m unemployed?

If you are unemployed but receive Centrelink, you may be eligible for an online cash loan. As we mentioned above, certain lenders may be able to regard regular Centrelink benefits as a form of income.

Individual lenders, however, may have rules around:

  • What kind of benefits they can accept (Family Tax Benefit A / Newstart etc.)
  • How much of your total income Centrelink benefits can make up.

If you receive Government benefits, you may be eligible for micro loans from community and state organisations.

How do personal loans work?

While lenders can all vary, consumers can generally expect the following from a personal loan:

  • Application and approval. You can quickly apply for personal loans 100% online. Assessment times vary between lenders, but you can generally expect an outcome within an hour or two after applying. Although, this is only if you apply during normal business hours.
  • Loan contract. Credit providers offer a credit contract if they approve an application.
  • Loan terms. This is how long you will have to repay your loan, determined by the amount you applied for as well as the lender themselves.
  • Costs. Credit providers agree to lend you money in exchange for interest, which is expressed annually. In addition, there are often establishment fees as well as ongoing fees.

Instant loans – fact or fiction?

Many lenders will advertise instant loans online. However, the term instant may be a little misleading.

After all, lenders are required by law to take reasonable steps to confirm a consumer’s requirements and objectives. Obviously, this process takes a little bit of time, so your application may not be processed truly instantly.

However, credit provider are often able to process your application so quickly, it may feel almost instant.

How do I make repayments?

Your lender will set up a direct debit from your account.

Generally, you may be able to nominate a weekly, fortnightly or monthly repayment schedule. Finally, once you have fully repaid your loan, the direct debit will automatically stop.

What if I can’t afford a repayment?

If you are concerned a repayment may bounce, you should get in contact with your lender at least 24 hours before it is due. Usually, if you give your credit provider enough notice, they may be able to reschedule your repayment for a fee.

Keep in mind, consumers will be charged a fee for cancelling or rescheduling their repayment. This, however, will be included in your contract.

I’m experiencing hardship

Sometimes, life can take a sharp turn for the worse, and your ability to afford your loan is affected indefinitely.

Luckily, credit providers are equipped with hardship departments to deal with these claims. So, if you are no longer able to afford your contractual repayments, you will need to get in contact with your lender’s hardship department.

To file for hardship, you will also need to provide supporting documentation. This can include:

  • Medical certificates.
  • Letter of termination.
  • Recent bank statements showing a lack of income.
  • Payslips showing a reduced level of income.

Who do I contact for support?

In this new, digital age, it can often feel like the level of true customer support and care has dropped. Monzi, however, does things a little differently.

If you have any questions regarding Monzi, our lender-finder service, or your application with us, please don’t hesitate to get in contact with our customer service team at

However, if you accept a loan from one of our lenders, you will need to contact them directly if you have any questions regarding a particular lender. Unfortunately, because lenders vary so much, Monzi cannot speak to the individual terms and policies of credit providers.

Loans for air conditioner? Let’s begin

Consumers may be able to match with a lender in no time through Monzi.

Stay in touch on Facebook, Instagram, Twitter and Pinterest.

Factor In


Two credit cards
Two credit cards

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


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 installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. 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.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. 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. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. 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. Click here to see a worked example.