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.
-
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.
-
Zip Money
Make large purchases by paying less with a Zip Money line of credit offering flexible repayment options, a long interest-free window and thousands of merchants to choose from. Find out if it's right for you.
-
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.
I had a personal loan applied for that wasn’t done by myself and now is effecting my credit score. How do I have this removed?
Hi Paul,
If you want to complain about a transaction on your credit report, you should contact the relevant credit provider or credit reporting body. They must acknowledge your complaint within 7 days. They are required to make a decision about the complaint within 30 days. They may request evidence or supporting documentation to show that the loan was taken out without your permission. Best of luck!
Hi
My husband and I are about to get our home renovated and we spoke with a flooring company who are working with Open Pay.
Flooring renovation will cost us around $10000 and i am wondering if the credit limit is available in open pay and what will be the payment scheduled please.
I couldn’t find this information on Open Pay website.
Thanks. Shina
Hi Shina,
Thanks for contacting Finder.
Openpay has a credit limit and the credit limit is disclosed to you after you have been approved. Credit Limit details can also be found directly at Openpay’s website. For the repayment schedule, after selecting Openpay as your payment method, you’ll receive an instant decision from the app and, once approved, you’ll be responsible for making the agreed repayments every two weeks. Repayments are automatically deducted as scheduled from your linked Visa or Mastercard. You can also make a payment early through the Openpay app.
I hope this helps.
Kind Regards,
Faye
Hi how long do you get to pay it back thanks
Hi Leanne,
Thanks for your inquiry.
The good thing about Openpay is that they let you choose the repayment plan. At the point of purchase, Openpay will give you several repayment schedule options. You can choose the repayment plan best suited to you. Unless you specifically choose to pay cash, check or money order, Openpay will automatically deduct the agreed repayment every two weeks from your linked Visa or Mastercard. You won’t have to worry about missing payments since they send out reminders before your scheduled repayments. To add, you’re able to make early repayments at no extra cost.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
With care,
Nikki
Hi there,
Just wondering if they accept people on a carers benefit ?
Hi Bev,
Thanks for getting in touch with Finder! According to our page, the eligibility requirements of OpenPay are:
To be eligible for Openpay, you must meet the following criteria:
Be at least 18 years of age
Have a valid Australian or New Zealand ID
Have a verifiable email address and two contact phone numbers
Provide a valid Visa or Mastercard (debit or credit card)
As long as you have the means to make payments, that will suffice to use their service.
To sign up:
Signing up for Openpay is quick and easy:
Download the Openpay app from the App Store or Google Play Store.
Fill out the electronic application within the app. This includes simple, basic identifying information.
List the Visa or Mastercard (credit or debit) you want linked to your Openpay account and pay a small initial security deposit.
Instantly receive an approval or rejection.
You can also sign up for Openpay at the checkout of participating retailers.
Hope this helps!
With care,
Nikki
Hello! I was wondering why is there a credit limit when you still have to use your own money?
Hi Daniel,
Thank you for reaching out.
Openpay is a pay now pay later scheme. Openpay works like a credit card where you purchase items without having to pay outright. Credit limit set to make sure that users are able to commit to their repayments and just spend on what you can pay. Once the installment plan is set, Openpay will direct debit the payments on the chosen schedule.
Hope this helps! 😊
Kind Regards,
Mai