loans.com.au vs OurMoneyMarket
Both lenders side by side, using only what each publishes on its own website. Full detail and sources sit in the standalone reviews: loans.com.au and OurMoneyMarket.
| loans.com.au | OurMoneyMarket | |
|---|---|---|
| Advertised rates | 5.94% - 16.64% p.a. variable or 6.99% - 15.79% p.a. fixed (car loans; personalised by credit score, vehicle age and type, and home ownership) | 5.95% - 18.99% p.a. fixed (priced individually by OurMoneyMarket's credit scorecard across loan grades A++ to D; representative rate 9.99%, which at least half of approved customers receive or better) |
| Comparison rate | 7.07% - 17.76% (variable); 8.12% - 16.91% (fixed); based on $30,000 over 5 years | 5.95% - 21.78% (representative 11.94%; based on an unsecured $30,000 loan over 5 years) |
| Approval speed | Approval within 24 hours, subject to provision of all required information and documents; their FAQ notes the process can take up to four days depending on verification | Conditional approval within minutes on a 5-minute application; after full approval funds usually arrive within 1 business day, and pre-approved funds can settle in as soon as 24 hours |
| Best suited for | borrowers who want a fully online car loan of $10,000 - $150,000 on a new, demo or used vehicle and value a low variable entry rate, unlimited extra repayments and no early-exit fee on the variable option | borrowers with a clean credit file who want a fast, fully online fixed-rate personal or car loan of $5,000 - $100,000, with good credit history rewarded by lower risk-based pricing |
| Fees | $400 application fee; $8 monthly fee; $0 discharge fee; $0 early termination fee on variable loans; $700 early termination fee on fixed loans in the first two years, $500 in later years (excluding the final year) | Establishment fee 0% - 6% of the loan amount, set by loan grade and added to the loan; $0 monthly account-keeping fees; $0 prepayment and early exit fees; $35 late payment fee, chargeable at 5, 14, 21 and 30 days past due; $25 direct debit dishonour fee; $150 loan cancellation fee after accepting an offer |
| Credit profile fit | Rates are personalised within the advertised range based on credit score and assessment, vehicle age and type, and whether the borrower owns a home; a rate quote is free and does not affect your credit score. Baseline eligibility: Australian citizens or permanent residents over 18 earning an income. Used vehicles are financed up to 12 years old. | Risk-based pricing assigns every application a loan grade from A++ to D, which sets both the rate and the establishment fee. Published criteria: 18+, citizen or permanent resident, after-tax income of at least $25,000, in employment or receiving a pension, acceptable credit history with no defaults (paid or unpaid), no active payday loans and no bankruptcy history. |
Rates and fees current as at 13 Aug 2026. Rates and fees are subject to change by the lender at any time.
*The comparison rate is based on the lender's published example and is true only for that example. 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.
loans.com.au: strengths and trade-offs
- + Low advertised variable entry rate of 5.94% p.a. (7.07% comparison)
- + No early termination fee on variable loans and no discharge fee
- + Unlimited extra repayments plus daily redraw on variable
- - $400 application fee and $8 monthly fee
- - Risk-based pricing tops out at 16.64% p.a. variable (17.76% comparison)
OurMoneyMarket: strengths and trade-offs
- + 5.95% p.a. floor with a matching 5.95% comparison rate for top-grade borrowers
- + No monthly fees, no prepayment fees, free early payout
- + Decision in minutes and funds usually within 1 business day
- - Establishment fee up to 6% of the loan for weaker grades, pushing comparison rates to 21.78%
- - Strict criteria: no defaults paid or unpaid, no active payday loans, no bankruptcy history
Neither lender is ranked or recommended over the other. Rates are personalised, so the better lender for you depends on your profile; a Loanseekers enquiry compares both, and the rest of our 70+ lender panel, without affecting your credit score.
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