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Please note that OK Money is no longer in operation. The information on this page has been kept for the benefit of those who are interested and historical records only.
$5,000
Maximum loan amount
Same day
Turnaround time
conditions apply
Varies based on payout date
Term of loan
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Product Name | OK Money Settlement Loan |
---|---|
Minimum loan amount | $2,001 |
Maximum loan amount | $5,000 |
Arrears Fee | $30 |
Loan term | Varies based on payout date |
Turnaround time | Same day - conditions apply |
Costs | $400 application fee and 48% p.a.APR |
Available to Centrelink Borrowers? | No |
Once you supply all the required information and paperwork, processing the application can take between 30 minutes and one hour depending on whether you’re a new or repeat customer. The process will take longer if you apply outside of OK Money’s business hours.
Upon approval of your application, you can collect cash from an OK Money store or look forward to an electronic transfer directly into your bank account.
Whilst we don't compare this loan directly, here are some other loans that are similar.
When you take an OK Money loan you have to pay certain fees and charges as is the case with other loans. OK Money discloses these costs through the offer document, which you should review carefully before signing. If you don’t find the fees and charges acceptable, don’t sign the contract.
The following should give you an idea of what you would have to pay if you take this loan.
You can apply for an OK Money Settlement Loan online, in-store, or over the phone. Make sure you can answer yes to the below to ensure your eligibility:
To complete the application you have to ensure that your solicitor agrees to sign an irrevocable authority document. You also have to provide a host of information, which includes the following:
If you’re expecting money from a settlement claim or a payout but don’t want to wait that long, getting an OK Money Settlement Loan can help. Make sure you compare this product with other similar offerings to ensure its competitiveness and to make sure you're applying for the best option available for you.