In short, a loan from a marketplace lender differs to a bank loan in the following ways:
It’s the new way to borrow and invest. Individuals can apply for a loan via the OurMoneyMarket website and if approved the loan request will be posted on the OurMoneyMarket website for investors to review. Investors then fund those loans through the purchase of Loan Units at their selected risk grades. The borrower will have the funds deposited into their nominated bank account and the investor will receive the contractual loan repayments made by the borrower less OurMoneyMarket’s service fee.
It’s better value for all. Creditworthy borrowers can obtain lower rates and investors gain access to a new fixed income asset class at a competitive rate of return.
Scroll below and access our loan calculator to find out the estimated repayments on your loan weighed against the amount you want to borrow and how long you need to make all your repayments.
With our online platform, you can easily stay on top of your upcoming payments, access payment information, and find peace of mind knowing you’re taking back control of your finances.
Any form of debt you’re looking to pay off or bring multiple smaller debts into the one-off personal loan. With access up to $75,000, debts of all kinds can be covered with OMM.
We offer personal loans for covering multiple uses you may need, using our unsecured personal loan service. Our debt consolidation loans have a fixed interest rate, and you choose a loan amount and loan term that you can comfortably repay.
