Personal Loans | Interest Rates and Fees | OurMoneyMarket

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Rates & Fees

By working together we create better value for borrowers and investors.

Earn from 7.04% to 29.53%

per annum1

Read the Product Disclosure Statement

For excellent credit 9.06%

comparison rate#

or retrieve an existing quote
This won't impact your credit score

1. Investor rates are displayed on an annualised basis and are net of applicable fees due to OurMoneyMarket. Investor rates may assume payments received are continually reinvested at the stated rate and that there are no borrower late payments or defaults.

# This comparison rate is based on an OurMoneyMarket A+1 unsecured personal loan of $10,000 over 3 years. WARNING: These comparison rates are accurate only for the example provided and may not include all fees and charges. Different loan grades, terms, fees or loan amounts might result in a different comparison rate.

No monthly account keeping fees. No transaction fees. Just one simple service fee.

OurMoneyMarket’s interest rates vary depending on the loan term and credit risk of the loan applicant. Based on OurMoneyMarket's credit assessment criteria, OurMoneyMarket assigns a loan grade between A+1 and D5 that it believes reflects the underlying credit risk of the borrower. The interest rate range we currently assign to each loan grade is displayed in the table below.

The interest rates below include Service Fees payable to OurMoneyMarket. Please refer to the Product Disclosure Statement for more information on how we set interest rates.

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One Simple Service Fee

OurMoneyMarket charge one simple fee of 12.5% of the gross interest paid by the borrower on each loan repayment. The fee is paid to OurMoneyMarket for managing the day to day operations of the OurMoneyMarket Investment Trust.

There is a once-off establishment fee that is added to your loan proceeds.

The amount of the establishment fee is based on your OurMoneyMarket loan grade and is calculated as a percentage of your total loan amount. After this, there are no other standard fees payable to OurMoneyMarket as long as you make your scheduled repayments. The establishment fee is subject to a minimum of $150.

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Non-Standard Fees

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How does OurMoneyMarket set its rates and fees?

OurMoneyMarket believes in offering efficient and fair finance. This means that you are rewarded with rates and fees that reflect your credit record.

When you apply for a loan with OurMoneyMarket you undertake a thorough credit assessment that includes the quantitative and qualitative information you have provided us, as well as information about you provided by trusted third party credit bureaus. All this information allows us to assign to your loan request an OurMoneyMarket loan grade between A+ (excellent credit history) and D (below average credit history) and offer you an interest rate that is unique to your circumstances.

The OurMoneyMarket loan grade we assign to your loan is also used to determine the establishment fee that is added to your personal loan, as seen in the table above.

What is a comparison rate?

The comparison rate is one simple percentage rate that reflects all expected interest, fees and charges that you will incur over the term of loan.

The comparison rate is provided so that you can easily compare the expected full cost of one loan to another. Please note however that the comparison rate does not include any costs relating to events that may not happen. For example, a late payment or adjustments to your loan contract.

OurMoneyMarket believes in offering efficient and fair finance. This means that you are rewarded with rates and fees that reflect your credit record.

When you apply for a loan with OurMoneyMarket you undertake a thorough credit assessment that includes the quantitative and qualitative information you have provided us, as well as informationabout you provided by trusted third party credit bureaus. All this information allows us to assign to your loan request an OurMoneyMarket loan grade between A+ (excellent credit history) and D (below average credit history) and offer you an interest rate that is unique to your circumstances.

The OurMoneyMarket loan grade we assign to your loan is also used to determine the establishment fee that is added to your personal loan, as seen in the table above.

The comparison rate is one simple percentage rate that reflects all expected interest, fees and charges that you will incur over the term of loan.

The comparison rate is provided so that you can easily compare the expected full cost of one loan to another. Please note however that the comparison rate does not include any costs relating to events that may not happen. For example, a late payment or adjustments to your loan contract.

Default Fees

You may incur the following default fees and charges should you not make your loan repayments on time or default on your loan obligations.

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