AU

OurMoneyMarket Personal Loan full review

If you need to borrow up to $75,000 but don’t want to hold high rates, this OurMoneyMarket Personal Loan review is worth reading. Find out more about affordable loans!

OurMoneyMarket Personal Loan: borrow up to $75,000

See how this lender can help you get some extra cash. Source: The Mister Finance.
See how this lender can help you get some extra cash. Source: The Mister Finance.

This OurMoneyMarket Personal Loan review will show you all you must know about getting a loan with affordability and flexibility.

OurMoneyMarket Personal Loan

How to apply for the OurMoneyMarket Personal Loan?

See how to apply for an OurMoneyMarket Personal Loan and borrow up to $75,000 at low rates and no hidden fees. The application takes 3 steps.

As you probably know, borrowing money requires some attention, especially regarding fees and rates.

On the other hand, you may find it interesting that OurMoneyMarket offers one of the lowest rates on the market.

APRStarting from 6.69% p.a
Loan PurposeDebt consolidation, vehicle purchase, vacation, wedding, home renovations, education, medical/cosmetic expenses
Loan AmountsUp to $75,000
Credit NeededAcceptable credit history with no undischarged bankruptcy
Terms1 to 7 years
Origination FeeN/A
Late FeeN/A
Early Payoff PenaltyNone

As shown, the amount is reasonable, and the terms are flexible. Although rates are competitive, some fees apply.

How does the OurMoneyMarket Personal Loan work?

OurMoneyMarket offers personal loans for any kind of reason you might have, from covering medical expenses to being able to travel abroad.

In fact, you can use the loan for debt consolidation, a vehicle purchase, to cover a holiday, a wedding, home renovations, education, and to cover medical or cosmetic expenses.

In the first place, you can borrow up to $75,000. Also, the rate starts as low as 6.69% p.a.

Secondly, you can repay the loan in one to seven years. The application is easy and quick and can be done in three easy steps. 

Also, it is important to mention that the loans are unsecured, and all Australian residents can sign up for them. However, some simple eligibility requirements apply, as can be seen in the following post.

In addition, all loans are fixed-rate, which means the repayment installments will never change. The rates will be calculated based on some factors, including your credit history. 

Fortunately, there are no prepayment penalties or early exit fees. Moreover, there are no monthly fees whatsoever.

OurMoneyMarket charges a once-off establishment fee included in your loan amount. Other fees may apply depending on your requirements.

For instance, if you need to vary the terms of your loan, a loan variation fee of only $35 will be charged. The loan cancellation fee is $150, though.

OurMoneyMarket Personal Loan benefits

An affordable loan. Read the pros and cons we've found in OurMoneyMarket loans. Source: The Mister Finance.
An affordable loan. Read the pros and cons we’ve found in OurMoneyMarket loans. Source: The Mister Finance.

As shown in this OurMoneyMarket Personal Loan review, the loans are reasonable and affordable. 

There are no monthly fees or prepayment penalties. Even though other fees may apply, they are also low.

Additionally, OMM is pretty well-reviewed and has been awarded for consecutive years.

Pros

  • OMM offers personal loans for any type of purpose;
  • It doesn’t charge monthly fees or prepayment penalties;
  • It is well-reviewed;
  • The application is fast, secure, and online. 
  • It offers prequalification with no impact on your credit score;
  • It features low rates and flexible terms.

Cons

  • It charges a once-off establishment fee as well as a cancellation fee.

Pre-approved credit cards for low credit score available now

We analyzed your profile and found some offers that you can apply for today.

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How good does your credit score need to be?

OMM requires an acceptable credit history with no undischarged bankruptcy. Some other eligibility requirements apply, too.

How to apply for an OurMoneyMarket Personal Loan?

If you need to borrow up to $75,000 at low rates, learn how fast it is to apply for an OurMoneyMarket Personal Loan in the next post!

OurMoneyMarket Personal Loan

How to apply for the OurMoneyMarket Personal Loan?

See how to apply for an OurMoneyMarket Personal Loan and borrow up to $75,000 at low rates and no hidden fees. The application takes 3 steps.

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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