OurMoneyMarket Green Personal Loan review
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- Interest Rate (p.a.)
- 5.95% to 18.99%
- Comparison rate (p.a.)
- 5.95% to 21.78%
- Min Loan Amount
- $5,000
Summary
Access one of the market's most competitive green loan rates and pay no ongoing fees.With a Finder Score of 8.3 the OurMoneyMarket Green Loan is a highly competitive option. Its standout feature is a minimum interest rate that places it in the top 5% of loans in our database. It also charges no application or ongoing monthly fees.
However borrowers should be aware that making extra repayments may attract a penalty. This loan may suit a borrower prioritising low rates and minimal fees over the flexibility to pay off their loan early.
Pros
-
Competitive interest rates
-
No application fee or ongoing fees
Cons
-
Late payment fee of $35
Details
Product details
| Product Name | OurMoneyMarket Green Loan |
| Interest Rate (p.a.) | 5.95% to 18.99% |
| Comparison rate (p.a.) | 5.95% to 21.78% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $75,000 |
| Loan Security | Unsecured |
How does OurMoneyMarket Green Loan compare?
- Highly competitive interest rate. With a minimum rate of 5.95% p.a. this loan is in the top 5% of the most competitive loans in our database.
- No application fee. This loan compares favourably to many others by not charging an application fee.
- No ongoing fees. Unlike many other loans on the market this loan has no ongoing monthly fees.
- Extra repayment penalties. Unlike many other personal loans you may be penalised for making extra repayments.
How does the OurMoneyMarket green personal loan work?
An OurMoneyMarket green personal loan lets you borrow between $5,000 and $75,000. Rates start at just 5.95% p.a. (comparison rate 5.95% p.a.). Borrowers receive personalised interest rates based on their credit score and financial circumstances.These loans have no monthly, early repayment or exit fees. Interest rates are fixed and won't change during the life of the loan. You can get a loan term of between 1 and 10 years.
Eligibility criteria
To be eligible for this loan, you must:- Be at least 18 years or older
- Be an Australian citizen or permanent resident
- Be actively employed or receiving a pension
- Be receiving a regular income
- Not be in financial hardship with another lender
- Not be a current or prior bankrupt or party to a court judgement
How to apply
Apply for the OurMoneyMarket green personal loan online by filling out the application form. It's useful to have the following documents on hand:- Personal identification - such as a driver's license.
- Bank details, including 3 months of bank statements.
- Details regarding any other debt you may have.
Features of this loan
- Secured or unsecured. Either option will be offered based on your credit assessment.
- Personalised rates. You will receive a competitive interest rate based on your credit history. The better your credit history, the lower the rate you're likely to receive.
- Quick online application. You can apply online and be approved for a loan within minutes.
- $0 fees. You won't pay an establishment fee or any ongoing fees.
- Flexible payment schedule. You can make repayments on a weekly, fortnightly or monthly basis.
- No exit or early repayment fees. You can pay this loan off early without penalty.
How much does the OurMoneyMarket green personal loan cost?
You will pay these fees
| Cost | Amount |
|---|---|
| Interest rate | Fixed from 5.95% p.a. to 18.99% p.a. |
| Comparison rate | Fixed from 5.95% p.a. to 21.78% p.a. |
| Establishment fee | $0 |
| Ongoing fees | $0 |
You might pay these fees
| Cost | Amount |
|---|---|
| Loan variation fee | $35 |
| Document production fee | $25 |
| Loan cancelation fee | $150 |
| Late/overdue fees | $35 per payment |
| Direct debit dishonour fee | $25 per dishonour |
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