Openpay interest-free payments
Find out how Openpay's interest-free payment plans work to see if they will work for you.
What different scores mean
9+
Excellent
The crème de la crème of personal loans. These products offer the lowest cost loans accompanied by the best features.
7+
Great
Slightly higher in cost and fewer features, but these products are still competitive.
5+
Standard
Typically offering above average rates and possibly lacking in the features department.
0+
Basic
The least competitive in terms of both cost and features.
Need a lower rate on your loan?
Compare now and find a better deal.
How to apply for a Openpay personal loan
Applying online is a straightforward process. You'll need to meet general eligibility requirements including:
- Being at least 18 years of age
- Being an Australian citizen or a permanent resident of Australia
- Being in paid employment
More resources on Finder
Ask a question
62 Responses
More guides on Finder
-
Buy now pay later statistics 2024
BNPL adoption hit an all-time high in July 2022 (49%) and has dropped back down to usual levels since then.
-
Humm Pro review
Support your business's cash flow with Humm Pro's unsecured interest free digital payment solution for Aussie businesses.
-
PayPal Pay in 4 review
PayPal Pay in 4 is a buy now pay later service available across thousands of retailers globally. Split your repayments into 4 equal instalments paid over 6 weeks.
-
Retailer guide to Zip Money and Zip Pay
Take advantage of three months’ interest-free repayments for your customers by integrating Zip Money into your business point of sales.
-
Retailer guide to Afterpay
Learn more about Afterpay and the benefits it has for its merchants, which includes customer conversions and higher sales.
-
Afterpay vs Zip Pay
How does Afterpay compare to Zip Pay?
-
Zip Money vs Afterpay
Not sure whether to shop with Afterpay or Zip Money? We compare both interest-free shopping platforms to help you decide.
-
Full list of stores that accept Zip Money
Zip Money lets you shop interest-free at a range of participating retailers. Find out every retailer you can shop at with this innovative payments provider and exactly how to show with Zip Money.
-
Zip Pay
With Zip Pay, you can get instant approval for a line of credit helping you to buy now and pay later. It is 100% interest-free and gives you complete control over how you make repayments. Find out exactly how it works.
-
Afterpay
Thinking about signing up to Afterpay? This is everything you need to know about the interest-free payments provider, including whether it affects your credit score and all the fees you should expect to pay.
What are the several payment options roughly? Do I have to have money in my account when I first purchase something ?
Hi Marley,
Thanks for your inquiry
You may make the installments in the following ways:
1. By your Nominated Card;
2. In cash in person at our office at Level 40, 120 Collins St, Melbourne, VIC 3000 between 9am to 5pm Monday to Friday; and
3. By cheque or money order sent by post to GPO BOX 5262, Melbourne VIC 3001 quoting your Openpay Plan Number.
Unless you inform openpay that you wish to make a particular installment by cash, cheque or money order, you direct and authorize them to charge the amount of any installments to your Nominated Card when the installment is due.
At the time you make a purchase which is, or is to be, financed under this credit contract, you must pay them an initial payment (“first installment”) inclusive of any Establishment Fee and a Plan Management Fee for the installment. This first installment must be paid using a MasterCard or Visa debit or credit card issued in your name and is payable within the Participating Merchant’s store at the time of purchase or, where you make a purchase from a Participating Merchant’s website, at the time of your online purchase.
Hope this information helps
Cheers,
Arnold
Do I need funds in my account straight away for fist time purchase using openpay?
Hi Joshua,
Thanks for your inquiry
Your credit or debit card must be adequately funded at the time of purchase because you’ll be charged with the first installment.
Hope this information helps
Cheers,
Arnold
I had initially created an Openpay account 4 weeks ago and was given a customer ID number. I didn’t end up going through with it. Now I have a different item I want to purchase when I log in to Openpay account app it gives me a different ID # and says to provide customer ID to the Sales assistant at the desk. Was I meant to pay anything or set up installment arrangements or is this the second step after approaching sales assistant?
Hi Malili,
Thank you for your inquiry.
At the time you make a purchase, you must pay them an initial payment (“first installment”) inclusive of any Establishment Fee and a Plan Management Fee for the installment. This first installment must be paid using a MasterCard or Visa debit or credit card issued in your name and is payable within the Participating Merchant’s store at the time of purchase or, where you make a purchase from a Participating Merchant’s website, at the time of your online purchase.
Hope this helps.
Cheers,
Jonathan
Does open pay check our credit files ?
Hi Lorrinda,
Thank you for your inquiry. On the FAQ’s page of Openpay it was mentioned:
“In some instances you will be asked to consent to a credit check. This will depend on the purchase you are making, you will be clearly asked to consent to this check before a purchase is made.”
Hope this helps.
Cheers,
Jonathan
Hi there,
is there a admin fee?
Is there a transaction fee?
Hello Monika,
Thank you for your question.
Openpay does not charge any interest and depending on the plan selected and the participating merchant in which you are shopping at, there may be no fees at all. In some, a small plan management fee may be applicable to each repayment. This fee varies depending on the merchant in which the purchase is being made. In the case of higher value purchases an establishment fee may apply and it will be payable by approved applicants only in line with the initial payment. All costs will be disclosed before you make a purchase.
Hope this helps.
Cheers,
Jonathan