NOW Finance personal loans

NOW Finance is a personal loan company headquartered in Melbourne, Australia. With customer service at the core of the business, NOW Finance helps its clients take care of the whole process from the loan application to repayments.

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Mark Bristow

Personal Finance Editor

Content updated

17 Oct, 2022

Product data updated

21 Nov, 2024

Why choose NOW Finance

Benefits

Lower rate for customers with better credit history
Can apply online
Both secure and unsecure personal loans can be found

Drawbacks

Higher rate for customers with worse credit history
No branch access
No redraw facility

Personal Loans calculator

Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios.

Your estimated repayments

Total interest

Total repayments

Compare personal loans

This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
The calculation rounds of the personal loan repayment to the closest dollar value without decimals.

All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
Calculator does not include the cost of fees or other extra charges.
Calculator does not account for changes to interest rates over time.
This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.

Features of a NOW Finance personal loan

NOW Finance offers borrowers access to both secured personal loans and unsecured personal loans, which can be used for a range of uses. NOW Finance offers unsecured personal loans from $5,000 to $50,000, which can be paid back over a period of between 18 months and seven years.

Personal loans from NOW Finance can be used to pay for a car, holiday, funeral, medical bills, debt consolidation, home improvement and weddings. NOW Finance offers borrowers access to a dedicated personal loan advisor who will help you manage and assess your loan application.

NOW Finance offers personalised interest rates, which means borrowers get different interest rates, depending on their credit history, credit score, employment status, cash flow and loan amount.

NOW Finance personal loans – customer service

NOW Finance doesn’t have any branches, but they can be reached by internet or phone:

Online enquiry
Phone, Monday to Friday, 9am – 6pm, Melbourne time/AEDT

Who is eligible for a NOW Finance personal loan?

To be eligible for a NOW Finance personal loan you’ll need to meet the following criteria:

Be 18 years or over
Be an Australian citizen or permanent resident
Have a minimum income of at least $22,100 per annum
Have no outstanding defaults, court judgements, writs or bankruptcies listed on your credit file
Have proof of income and employment
Single and joint applicant loans available

How to apply for a NOW Finance personal loan?

To apply for a NOW Finance personal loan, borrowers can apply online through the website. The application process takes around 10 minutes to complete and involves the following steps:

Get a free online quote and calculate your interest rate estimate – with no impact on your credit score
Apply for a personal loan online or via phone with a personal loan adviser
NOW Finance will assess your application and will be in contact if any additional information is needed
Once approved, the funds are transferred into your nominated bank account

At the time of application, you’ll need to provide the following documentation:

Proof of identity
Proof of income and employment
Details of any other financial commitments

NOW Finance personal loans review

NOW Finance offers unsecured personal loans of between $5,000 and $50,000. Depending on your credit history and a range of other factors, a NOW Finance personal loan will have a tailored fixed interest rate. If you don’t have a great credit history, this personal loan may not offer the most competitive interest rates.

NOW Finance personal loans are unsecured, which means you don’t have to provide collateral or security to get approval. Borrowers can choose between weekly or fortnightly payments, and have the option to repay their personal loan over a period of 18 months to seven years.

Borrowers who apply for a loan with NOW Finance will have access to a personal loan advisor who will provide a consistent point of contact if you need to contact the company.

Before applying for a NOW Finance personal loan, always do your research and compare your personal loan options to make sure you’re getting a loan that suits your budget, needs and lifestyle.

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About our expert

Mark Bristow

Personal Finance Editor

Mark Bristow is RateCity's Home & Personal Finances Editor, and an experienced analyst, researcher, and producer. While primarily focused on Australian mortgage and home loan expertise, he has experience across energy, home and travel insurances. Mark has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

NOW Finance personal loans

Why choose NOW Finance

Benefits

Drawbacks

NOW Finance Personal Loans

Personal Loans calculator