Important disclosure
9.14%
p.a
up to 11.19%
From
9.50%
p.a
up to 12.95%
Australian Credit Licence 488228Fees & charges apply
Calculate your repayments for this loan
Your estimated repayment
$637
based on $20,000 loan amount for 3 years at 9.14%
Pros and cons
For Low Rate Personal Loan Unsecured (Very Good Credit)
Benefits
- Lower than average rate
- No ongoing fees
- No early exit penalty
- Flexible repayment options
- No security required
- Can apply online
- Use the loan for any worthwhile purpose
- Fast time to funding
Drawbacks
- Higher than average application fee
- Cannot apply in branch
OurMoneyMarket Rate Personal loan overview
For Low Rate Personal Loan Unsecured (Very Good Credit)
Details
Total repayments $22,943 | Interest rate type Fixed |
Borrowing range $2k - $75k | Security type Unsecured |
Loan term 1 to 7 years | Secured by |
Loan type Is Fully Drawn Advance | Repayment frequency Weekly, Fortnightly, Monthly |
Target Market Determination Visit OurMoneyMarket Services Pty Ltd to view Target Market Determination. |
Features
Extra repayments Yes | Redraw facility |
Instant approval | Time to funding 24 hours |
Fees
Upfront Fee $250 | Ongoing Fee $0 |
Missed Payment Penalty $35 | Early Exit Penalty Fee $0 |
Permitted Loan Purposes
New Car | Used Car |
Motorcycle | Boat |
Debt Consolidation | Renovation |
Holidays | Medical Bill |
Shares | Student Loan |
Wedding |
Other Restrictions
Available loan amounts range from $2,001 to $75,000, for loan terms from 1 to 7 years. Comparison rate is based on a $30,000 fixed rate loan over a 5-year term to a borrower with excellent credit. WARNING: this comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Establishment fee applies for most borrowers. Credit is subject to OurMoneyMarket's standard terms and conditions and lending criteria. The target market determination for this product is available at ourmoneymarket.com/TMD. OurMoneyMarket Lending Pty Ltd ABN 64 605 231 669 holds Australian Credit Licence No. 488228.
How to apply
If you'd like to apply for this product or just get more information, follow the application process on OurMoneyMarket.
FAQs
How long are $3000 loans?
Medium amount loans can be repaid between 16 days and 2 years. Many personal loans have terms between 1 year and 5 years, though some are as short as 6 months while others last for 10 years.
Generally, the shorter a loan’s term, the more expensive your regular repayments may be, but the less total interest you’ll pay. Loans with longer terms mean more affordable repayments, but more interest charges over the full term.