OK Money Loans

Get an OK Money loan for personal or business use, and repay it early without paying any penalty.

OK Money offers a variety of loans and has served over 95,000 customers since it began operations. This business has 18 stores in Queensland, Northern Territory, and New South Wales, and while you can apply for an OK Money loan by visiting any of its stores, you can also apply online.

The different loans OK Money offers include Short Term Loans, Medium Amount Loans, Settlement Loans and Business Loans. The one that suits you best will depend on your particular needs, and you can apply for one even if you’re unemployed or have bad credit history.

Compare Other Payday Loans

Whilst we don't compare this loan directly, here are some other loans that are similar.

Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Product Description
Sunshine Short Term Loans
9 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
Nimble Short Term Loan
62 days to 1 year
1 hour - conditions apply*
20% of loan amount + 4% of loan amount each month
Apply for a short term loan and you could borrow up to $2,000
Ferratum Cash Loans
Up to 6 mths
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
A small loan from Ferratum lets you borrow up to $1,900 without a credit check
Cash Train Loans
10 weeks or 3 months
1 Business Day
20% of principal amount (establishment fee) + 4% monthly charge
Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application

Compare up to 4 providers

What type of finance is provided by OK Money?

OK Money provides loans to suit different requirements and given below are details of its offerings:

  • Short Term Loans. You can borrow up to  through an OK Money unsecured Short Term Loan, and the loan term can extend up to three months. Since you repay this loan in a short term you’ll end up paying less fees when compared to a loan with a longer term.
  • Medium Amount Loans. These secured loans require borrowers to provide some kind of security, which can come in the form of an asset like a car, boat, or truck. You can borrow between and  through an OK Money secured Medium Amount Loan, and the loan term varies from 16 days to two years.
  • Settlement Loans. OK Money provides settlement loans to people awaiting funds from pending settlements and payouts. The loan term and loan amount vary as per individual circumstances, and pending settlements and payouts can come from the sale of assets, insurance claims, court settlements, deceased estate settlements, superannuation payouts and compensation payouts.
  • Business Loans. Businesses and self-employed individuals with ABNs can apply for an OK Money secured Business Loan, and you can borrow up to  through this loan. While the loan term is generally in between one and three months, OK Money is flexible on this front.

OK Money and the features they offer

  • Variable loan amount. Depending on how much money you need and whether you can provide some kind of security you can borrow up to  through an OK Money Personal Loan. With a business loan you can borrow up to .
  • Apply with bad credit. While a significant number of large lenders shy away from lending to people with bad credit history, this is not the case with OK Money – you can apply for an OK Money loan even if you have bad credit. Bear in mind, though, that you will need to have the ability to repay.
  • No early repayment penalty. You can pay your OK Money loan back ahead of time without worrying about paying early payment penalties.
  • Multiple repayment methods. While a number of short term loan providers require that you sign up for direct debits when you take a loan, OK Money gives you more freedom when it comes to making repayments. You can make repayments via direct debit and payroll deduction, you can make cash payments at OK Money stores and Westpac Bank branches, and you can repay the loan through a settlement.

How much will it cost you to borrow from OK Money?

OK Money aims to keep its fee structure simple and easy to understand, and the fees you have to pay depend on the loan you take. While you have to pay some of these fees, you can avoid some others.

Short Term Loans

  • Establishment fee: 20% of loan amount
  • Monthly fee: 4%
  • Direct debit dishonour fee: $30
  • Collection contact fee: $15

Medium Amount Loans

  • Establishment fee: $400
  • Annual interest rate: 48% p.a.
  • Direct debit dishonour fee: $30
  • Collection contact fee: $15

Business Loans

  • Establishment fee: 5% of loan amount
  • Monthly fee: 10%
  • Direct debit dishonour fee: $30
  • Collection contact fee: $15

Is it safe to borrow from OK Money?

OK Money operates with an Australian Credit License and practises responsible lending. With over 15 years of experience, OK Money boasts an increasing number of repeat customers, and much of OK Money’s existing staff has worked with them for over five years.

OK Money gives you a clear indication of the fees and charges you might have to pay during the course of the loan. It aims to build long-term relationships with their customers by providing high levels of personalised customer service.

How to apply for a loan from OK Money

You can apply for an OK Money loan online, over the phone, or in-store. The following criteria will need to be met in order for you to be eligible:

  • You are over 18 years of age
  • You are a permanent resident of Australia
  • You have a steady source of income (this can be from Centrelink)

Completing the application requires that you provide a host of information, which includes the following.

  • Personal details like your name, date of birth and marital status
  • Your residential status, residential address, phone number, and email address
  • Your employment status and your employer’s name and contact details (if you are employed)
  • Details about your income
  • Details about all your existing debts

Getting a secured or unsecured OK Money loan can be a good idea, given that it does not attract any early payment fees, but since you can find this feature in other loans, make sure you compare a few before submitting an application.

Frequently asked questions

Can I apply for an OK Money loan if I’m unemployed?

You can apply for an OK Money short term loan if you’re unemployed, provided you receive income through Government benefits.

Can I apply if I live in a remote community?

Yes, you're able to apply online and over the phone.

How long does it take to get an OK Money loan?

If you apply outside business hours, you'll have to wait for the next business day for the process to begin. For new customers, the process takes around an hour, and for existing customers the process takes around 30 minutes.

Do I have to visit an OK Money store to sign application forms?

No, you don’t. OK Money sends the required documents to you via email, which you can sign using a secure e-signing process on your PC, tablet, or smartphone.

Does OK Money only provide loans?       

OK Money also provides a cheque cashing service, through which you can expect instant cash for a third-party cheque. For this, you have to visit an OK Money store.

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66 Responses to OK Money Loans

  1. Default Gravatar
    Jack | April 3, 2017

    Will you be considered if you have steady employment and had entered a part 9 debt agreement June 2016?

    Kind Regards

    • Staff
      May | April 4, 2017

      Hi Jack,

      Thank you for your inquiry.

      With OK Money, you can apply even if you have a bad credit history, although it would be best to get in touch with them directly to confirm if having a part 9 agreement will be considered. In the meantime, if you want to check your other options aside from OK Money, you may contact a lender featured on this page to discuss your eligibility for a loan.

      Hope this helps.


  2. Default Gravatar
    theri | February 2, 2017

    i need cash by tomorrow what must i do now

    • Staff
      May | February 2, 2017

      Hi Theri,

      Thanks for reaching out.

      If you want to apply for a loan from OK Money and you think you are eligible, please head over to their website. In the meantime, you may also review the criteria and contact the lenders listed in the table above for your other options. You can click on the ‘Go to site’ button to head over to the lender’s official page.

      Hope this helps.


  3. Default Gravatar
    John | December 4, 2016

    Can you apply for a loan if you live in the United States?

    • Staff
      Jason | December 4, 2016

      Hi John,

      Thank you for your enquiry.

      Most of the Australian based personal loan providers or lenders featured in this page requires that the borrower should be an Australian citizen or resident.
      Please click this link to check out the comparison of several personal loan providers and their rates in the US. These providers are US based and could offer personal loan options to you as long as you meet their eligibility criteria and requirements.

      I hope this helps.

      Kind regards,

  4. Default Gravatar
    simona | September 9, 2016

    I receive government benefits, and I have bad credit, but I need a emergency loan. Where do I apply to get approved fast

    • Staff
      Elizabeth | September 9, 2016

      Hi Simona,

      You can apply for a loan from OK Money if you receive Government benefits/have bad credit. You can apply directly on its website or at one of its stores. You can also compare your other options on this page.

      Hope this helps,


  5. Default Gravatar
    Alex | August 30, 2016

    Can I please apply for a loan of 2000 dollars. i am on the disability pension and my expenses are minimal. i have no debts owing. I live with my friend who pays the rent as I do the chores and pitch in when needed. please advise when i can apply and when i can get the cash. i need it as i wish to pay for some household products. please send me an application form via email and call XXXXXXXXXX

    • Staff
      Elizabeth | August 30, 2016

      Hi Alex,

      As a financial comparison service we don’t offer the loans ourselves, but you can apply for a loan with OK Money by heading over to its website. If you find you aren’t eligible you can compare your other options on this page.

      Hope this helps,


  6. Default Gravatar
    Precious | August 29, 2016

    At durban where is ok money store?

    • Staff
      Anndy | August 29, 2016

      Hi Precious,

      Thanks for your question.

      If you are referring to Durban in South Africa, unfortunately, OK Money does not have a store in that area. Please note that OK Money Loans are only available to permanent residents of Australia.


  7. Default Gravatar
    Precious | August 29, 2016

    Can you lend me money urgently

    • Staff
      Elizabeth | August 29, 2016

      Hi Precious,

      As a financial comparison service we don’t approve loans ourselves but you can apply for a loan from OK Money on its website. If you’d like to compare other lenders you can do so using the table above and click “Go to Site” to apply.

      Hope this helps,


    • Default Gravatar
      Precious | August 29, 2016

      Please can you help me apply for it?

    • Staff
      Elizabeth | August 31, 2016

      Hi Precious,

      You can apply for an OK Money loan by visiting its website or one of the stores. Make sure you meet the eligibility criteria before you apply.

      Hope this helps,


  8. Default Gravatar
    JOHN | August 21, 2016


    • Staff
      Elizabeth | August 22, 2016

      Hi John,

      You’ve come through to the Australian section of your website, but you can compare loans for US citizens on this page.

      Hope this helps,


  9. Default Gravatar
    Natasha | August 12, 2016

    Hi I have bad bad credit history am I able to get a loan, for new furniture and pay back a decent amount and I’m on just centre link with children.

    • Staff
      Elizabeth | August 12, 2016

      Hi Natasha,

      You’re able to apply for a loan from Ok Money if you have bad credit history and receive Centrelink payments. Just ensure you have the means to repay the loan you’re applying for.



  10. Default Gravatar
    Chris | July 19, 2016

    Can you help with a 1000$ loan to fix my car i dont have full time work but do have an income and could easily afford weekly repayments as i need my car for work and once i can fix it could get back to full time pay

    • Staff
      May | July 19, 2016

      Hi Chris,

      Thanks for your question.

      Just to confirm though you’ve come through to finder.com.au we are an Australian financial comparison website and general information service and we don’t represent OK Money or any lender featured on our site.

      Please note that with OK Money, you can apply for a short-term loan if you’re unemployed so long you receive income through Government benefits. Whilst we’re not sure if you’ll be approved for a $1,000 personal loan or not, you can also review the criteria and get more information on our guide on this page.

      I hope this has helped.


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