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OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$75,000)
Apply online for a fast, unsecured personal loan and borrow up to $75,000.
Three key factors to consider about this loan:
Personalized rates: Your interest rate is determined by your credit history and financial situation.
Fixed rates: Enjoy a fixed interest rate for the entire loan term.
Early repayment: Pay off your loan early with no additional fees.
Interest Rate (p.a.)
6.57% to 18.99%
Comp. Rate (p.a.)
7.19% to 21.78%
Min Loan Amount
$5,000
Pros.
Competitive interest rates to keep your borrowing costs low.
No ongoing fees, helping you save more over time.
No penalties for extra payments, giving you flexibility to pay off your loan faster.
Cons.
Late payment fee: $35
Direct debit dishonor fee: $25
Details
Product Details
Product Name
OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$75,000)
Interest Rate (p.a.)
6.57% to 18.99%
Comp. Rate (p.a.)
7.19% to 21.78%
Interest Rate Type
Fixed
Min Loan Amount
$5,000
Max. Loan Amount
$75,000
Loan Security
Unsecured
How does the OurMoneyMarket Unsecured Low-Rate Personal Loan function?
The OurMoneyMarket Unsecured Low-Rate Personal Loan allows you to borrow between $5,000 and $75,000 for various purposes, including home improvements, debt consolidation, travel, medical expenses, weddings, or other personal needs.
Interest rates start at 6.57% p.a. (comparison rate 7.19% p.a.) and are personalized based on your credit score and financial situation. These loans come with no monthly fees, early repayment fees, or exit fees. The interest rate is fixed, ensuring it remains the same throughout the loan term. You can choose a repayment period ranging from 1 to 7 years.
Eligibility criteria
To qualify, you must:
Be at least 18 years old
Be an Australian citizen or permanent resident
Be employed or receiving a pension
Have a regular income (Centrelink may be considered as a secondary income)
Not be experiencing financial hardship with another lender
Not have a history of bankruptcy or court judgments
Not have any active payday loans
How to Apply
You can apply for the OurMoneyMarket Unsecured Low-Rate Personal Loan online by completing the application form. To make the process smoother, have the following documents ready:
Personal identification – such as a driver’s license
Bank details – including the last 3 months of bank statements
Information on any existing debts
Features of this loan
Key Features of the OurMoneyMarket Personal Loan:
Secured or Unsecured Options: Your loan type will be determined based on your credit assessment. This review focuses on the unsecured loan. For details on the secured loan, refer to our review.
Personalized Interest Rates: Your rate is based on your credit history—the better your credit, the lower the rate you may receive.
Fast Online Application: Apply online and receive loan approval within minutes.
No Ongoing Fees: While an establishment fee applies, there are no ongoing fees.
Flexible Repayments: Choose a repayment schedule that suits you—weekly, fortnightly, or monthly.
No Exit or Early Repayment Fees: Pay off your loan early without any penalties.