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OurMoneyMarket Low Rate Personal Loan

Advertiser disclosure

The details shown below are for a fixed loan between $2,001 and $50,000

The details shown below are for a fixed loan between $2,001 and $50,000

The details shown below are for a fixed loan between $2,001 and $50,000

The details shown below are for a fixed loan between $2,001 and $50,000

The details shown below are for a fixed loan between $2,001 and $50,000

Choose the version of this loan that suits you best

  • Loan: $2,001 $50,000

  • Loan: $2,001 $50,000

  • Loan: $2,001 $50,000

  • Loan: $2,001 $50,000

  • Loan: $2,001 $50,000

Interest rate from
6.75% p.a.to 8.48% p.a.
Comparison rate from
6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years
Upfront fee
$150
Go to site
Interest rate from
8.49% p.a.to 11.19% p.a.
Comparison rate from
8.81% p.a.to 11.52% p.a.based on $30,000
over 5 years
Upfront fee
$225
Go to site
Interest rate from
11.20% p.a.to 14.64% p.a.
Comparison rate from
11.68% p.a.to 15.13% p.a.based on $30,000
over 5 years
Upfront fee
$325
Go to site
Interest rate from
14.65% p.a.to 20.24% p.a.
Comparison rate from
15.26% p.a.to 20.88% p.a.based on $30,000
over 5 years
Upfront fee
$400
Go to site
Interest rate from
20.25% p.a.
Comparison rate from
21.22% p.a.based on $30,000
over 5 years
Upfront fee
$600
Go to site

Mozo editorial review OurMoneyMarket Low Rate Personal Loan

Last updated: 12 November 2020.

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What's hot
  • 2021 Mozo Experts Choice Award winner
  • Fixed rates from 6.75% p.a. (6.96% p.a. comparison rate)*
  • Free redraw facility & extra repayments
What's not
  • $250 (minimum) upfront fee
Mozo snapshot

With competitive fixed rates starting at 6.75% p.a. (6.96% p.a. comparison rate*) on loans over $2,000 and up to $50,000, plus free extra repayments and fee-free redraw facility, the OurMoneyMarket Low Rate Personal Loan is just what you need to fund your wedding, home renovations and even your dream holiday. Plus, on top of all this, this loan bagged a 2021 Mozo Experts Choice Award for best Unsecured Personal Loan!

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Key features

The OurMoneyMarket Low Rate Personal Loan offers competitive fixed rates starting at 6.75% p.a. (6.96% p.a. comparison rate*) on loans over $2,000 and up to $50,000, with different rate tiers depending on your credit score. So if you’ve worked hard to keep your credit report in good shape, you’ll be able to enjoy the reward of a low rate.

There are loads of great features up for grabs, like free extra repayments so you can pay your loan off as quickly as you’d like without any penalty for it! Not to mention a fee-free redraw facility, which is handy just in case you ever need some extra money to fall back on in case of any unexpected expense or bill. 

The OurMoneyMarket Low Rate Personal Loan is an unsecured loan, so you won’t need to worry about putting up your car or other valuable assets as security. And if you’re after flexibility, you’ll be pleased to find that this loan offers a choice of either weekly, fortnightly or monthly loan repayments, with loan terms ranging from 1 to 7 years.

snapshot
Who is it good for

The OurMoneyMarket Low Rate Personal Loan offers different rate tiers according to your credit score, so if you’re an Aussie with a high credit score, you’ll get to enjoy the reward of a super low rate. By the same token, if your credit report has room for improvement, OurMoneyMarket is willing to give you a second chance, but you may have a higher rate. 

snapshot
Any catches

While there are no service, exit or early repayment penalties, the OurMoneyMarket Low Rate Personal Loan does have a $250 (minimum) upfront fee and a $35 late payment fee, so remember to budget for the application fee and avoid late payments.

Plus, if your credit rating is below-average, rates can go up to a steep 20.25% (21.22% comparison rate*) making your loan much more expensive.

Details

Rates and fees information correct as at 4 December 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 6.75% p.a.to 8.48% p.a. fixed

  • 6.96% p.a.to 8.69% p.a.based on $30,000
    over 5 years

Fees
  • $150.00

  • $0.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Rate for Excellent Credit

  • none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Details

Rates and fees information correct as at 4 December 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 8.49% p.a.to 11.19% p.a. fixed

  • 8.81% p.a.to 11.52% p.a.based on $30,000
    over 5 years

Fees
  • $225.00

  • $0.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Rate for Very Good Credit

  • none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Details

Rates and fees information correct as at 4 December 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 11.20% p.a.to 14.64% p.a. fixed

  • 11.68% p.a.to 15.13% p.a.based on $30,000
    over 5 years

Fees
  • $325.00

  • $0.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Rate for Good Credit

  • none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Details

Rates and fees information correct as at 4 December 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 14.65% p.a.to 20.24% p.a. fixed

  • 15.26% p.a.to 20.88% p.a.based on $30,000
    over 5 years

Fees
  • $400.00

  • $0.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Rate for Average Credit

  • none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Details

Rates and fees information correct as at 4 December 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 20.25% p.a. fixed

  • 21.22% p.a.based on $30,000
    over 5 years

Fees
  • $600.00

  • $0.00

  • $35.00

  • $0.00

  • $0.00

Other financial bits
  • $2,001.00

  • $50,000.00

  • 1 Year

  • 7 Years

  • Unsecured

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • Rate for Below Average Credit

  • none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Customer Reviews

This product is not currently reviewed.

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6.99% p.a.to 9.49% p.a.

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5.46% p.a.to 19.26% p.a.based on $30,000
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6.79% p.a.

7.16% p.a.based on $30,000
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6.81% p.a.

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4.89% p.a.

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5.29% p.a.to 9.99% p.a.

5.84% p.a.to 10.56% p.a.based on $30,000
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6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $30,000
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5.75% p.a.to 21.99% p.a.

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Alex

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6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years

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9.64% p.a.based on $30,000
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6.75% p.a.to 8.48% p.a.

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7.95% p.a.to 19.45% p.a.

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6.49% p.a.to 8.99% p.a.

6.84% p.a.

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6.45% p.a.to 26.99% p.a.

6.45% p.a.

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6.45% p.a.to 26.99% p.a.

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4.89% p.a.to 8.89% p.a.

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