OurMoneyMarket review
Personal
Best suited for 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
Loanseekers is a broker, not a lender, and may receive commission from lenders on our panel. This does not change what you pay. See our Credit Guide.
Advertised rates
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 5.95% - 21.78% (representative 11.91%; based on an unsecured $30,000 loan over 5 years)*
Approval speed
A conditional decision is subject to verification. After full approval and acceptance of the offer, funds usually arrive within 1 business day but may take up to 3 business days
Credit-profile fit
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.
Pros & cons
Pros
- 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
- No vehicle age limit on car loans and $100,000 maximum
- Soft-check quote and 1-month pre-approval to shop with a firm budget
Cons
- 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
- Minimum $5,000 loan and $25,000 after-tax income
- Late payment fees can stack at four intervals per missed payment
Key features
- Loans $5,000 - $100,000 for vehicles and home improvements, $5,000 - $75,000 for other purposes
- Terms 1 - 7 years (10 years for green loans), fixed rate only
- Secured and unsecured options; car loans cover cars, caravans, boats, jet skis and motorbikes with no vehicle age limit
- Weekly, fortnightly or monthly repayments, managed fully online
- Free Quick Quote rate estimate that does not impact your credit score
- Vehicle pre-approval held open for up to 1 month
Fees
- Establishment fee 0% - 6% of the loan amount, set by loan grade and added to the loan
- $0 monthly account-keeping, prepayment and early exit fees
- $35 late payment fee, chargeable at 5, 14, 21 and 30 days past due
- $25 per direct debit dishonour
- $95 cancellation fee after accepting an offer but before funds are received
- $35 approved loan variation; $25 for a posted hard-copy document
- Enforcement expenses may apply if the loan contract is breached
Comparing an OurMoneyMarket offer
Look beyond the advertised starting rate. The security arrangement, establishment fee and assessment conditions can change the comparison for your own application.
No published vehicle age limit is not an approval promise
OurMoneyMarket advertises secured and unsecured vehicle finance without a vehicle age limit. Its vehicle-loan FAQ still requires acceptable credit history, after-tax income of at least $25,000 a year and no hardship with another finance provider. An older car can therefore clear one product requirement while the borrower and purchase still need assessment.
Check eligibility before submitting an application
Its personal-loan eligibility list includes age 18 or over, Australian citizenship or permanent residency, employment or pension income, no paid or unpaid defaults and no active payday loans. The published page also restricts bankruptcy and court-judgment history. Ask for the current criteria for the product you are considering if any of these points affect you.
A loan without monthly fees can still have other costs
OurMoneyMarket sets an establishment fee using its loan grade and adds it to the amount borrowed. Its fee schedule also lists charges for certain changes, cancellations, late payments and dishonoured direct debits. Compare the actual offered fee and total repayments over the same term, rather than treating the absence of monthly fees as a fee-free loan.
Questions to bring to your finance comparison
- Will this offer be secured or unsecured, and what does that mean for the vehicle?
- What establishment fee is included in my offer and total amount borrowed?
- Which checks and documents remain before the lender can release funds?
Related guides
Sources for these notes checked . Lender requirements can change; confirm the current conditions for your application.
Frequently asked questions
Who is OurMoneyMarket best suited to?
Based on our review, OurMoneyMarket is best suited for 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.
What are OurMoneyMarket's rates?
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: 5.95% - 21.78% (representative 11.91%; based on an unsecured $30,000 loan over 5 years). Original facts reviewed 13 Aug 2026. Selected facts checked 23 Sept 2026: comparison rates, fees, application timing. Rates and fees are subject to change by the lender at any time.
What fees does OurMoneyMarket charge?
Establishment fee 0% - 6% of the loan amount, set by loan grade and added to the loan. $0 monthly account-keeping, prepayment and early exit fees. $35 late payment fee, chargeable at 5, 14, 21 and 30 days past due. $25 per direct debit dishonour. $95 cancellation fee after accepting an offer but before funds are received. $35 approved loan variation; $25 for a posted hard-copy document. Enforcement expenses may apply if the loan contract is breached.
How fast is OurMoneyMarket's approval?
A conditional decision is subject to verification. After full approval and acceptance of the offer, funds usually arrive within 1 business day but may take up to 3 business days.
What credit profile does OurMoneyMarket accept?
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.
How do I apply through OurMoneyMarket?
Start a Loanseekers enquiry and we compare OurMoneyMarket against 70+ lenders for your situation. The initial check does not affect your credit score, and our specialists manage the application to settlement.
See if OurMoneyMarket suits your situation
One enquiry compares OurMoneyMarket against 70+ lenders for your exact position. No obligation, no impact on your credit score to enquire.
This is general information only, not personal advice; we have not considered your objectives, financial situation or needs. Loanseekers is a broker, not a lender, and may receive commission from lenders on our panel. This does not change what you pay. Approval is subject to lender criteria. See our Credit Guide.
Original facts reviewed 13 Aug 2026. Selected facts checked 23 Sept 2026: comparison rates, fees, application timing. 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.
Lender source pages
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