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Apply now and have an approval decision within minutes
Associated fees:
Interest Rate: 6.75% – 26.95% p.a. (fixed rate)
No establishment fees
No monthly account fees
No early repayment fees
Example Loan Cost:
Borrow $10,000 at 9.99% p.a. over 3 years → Total repayment ~$12,530
Borrow $30,000 at 14.99% p.a. over 5 years → Total repayment ~$42,050
Best For:
✔ Borrowers looking for a personal loan with no hidden fees
Associated fees:
Interest Rate: From 6.75% p.a. (fixed rate)
No establishment fees
No monthly account fees
No early repayment fees
Best For:
✔ Home improvements, car purchases, or large expenses
Associated fees:
Interest Rate: 6.75% – 26.95% p.a.
No establishment fees
No monthly account fees
No early repayment fees
Best For:
✔ Combining multiple debts into a single repayment
✔ Instant pre-approval with no impact on credit score
✔ Funds are typically deposited within 24 – 48 hours of full approval
All the information included here on Friendly Finance are accurate and in line with the data present on Now Finance’s website as of February 2025.
About Now Finance
📌 Founded: 2013
📌 Headquarters: Melbourne, Victoria, Australia
📌 Credit Licence: Australian Credit Licence (ACL) 425142
📌 Regulated by: Australian Securities and Investments Commission (ASIC)
📌 Main Services:
✔ Unsecured & Secured Personal Loans
✔ Debt Consolidation Loans
✔ Car Loans
✔ Home Improvement Loans
NOW Finance is a non-bank lender specialising in unsecured and secured personal loans for Australians. Unlike payday lenders or credit card providers, NOW Finance offers competitive fixed interest rates with no hidden fees.
The company’s key selling point is its "No Fees" Personal Loans, meaning no establishment fees, ongoing account fees, or early repayment penalties. Loans are tailored to individual financial situations, using risk-based pricing to determine interest rates.
Now Finance: Eligibility Requirements
The application process for Now Finance is done through the company’s website or you can also easily apply for a loan using this form. To process your loan application, you need to pass Now Finance's eligibility requirements:
- You are either an Australian citizen or a permanent resident of Australia.
- You have employment and are not on probation.
- You have no past defaults or bankruptcies.
- You have acceptable identification, such as a current Australian passport or a current Australian driver’s license.
- Provide banking details such as bank statements and possibly other financial details.
After receiving your application, the information will be sent to the NOW Finance credit team who will accept, conditionally approve, or deny your application. If you are denied, the company will be unable to give you a personal loan at the time of your application. You will also be required to submit contact details so NOW Finance can contact you about the status of your application.
If your loan application is conditionally accepted, you will need to submit to the company some additional information to make a final loan approval decision. This additional information may include your most recent payslip, last year’s PAYG summary, the front and back of the ID you provided in your application, and the front page of your bank account.
The entire application process (from application to final approval) will take 24-72 hours depending on the eligibility of the borrower. After the final approval, loan disbursement will be sent to your nominated bank account within 2 hours of the final approval. This timeframe may change depending on the bank provider.
No Fees – No establishment fees, account fees, or early repayment penalties
Fixed Interest Rates – Stable repayments with no surprises
Fast Online Application – Apply in minutes with instant pre-approval
Debt Consolidation Options – Lower interest rates than most credit cards
ASIC-Regulated & Licensed – Fully compliant with Australian lending laws
The Company: NOW Finance
There are some positives and negatives for prospective borrowers to consider before using NOW Finance as an online lender. As part of the reviewing process for this page, customer feedback and common questions answered on the company website were considered for the overall assessment.
Positives
- Speedy loan preliminary approval with the 10-minute online application process.
- Auto-debit arrangement for scheduled weekly or fortnightly payments.
- Transparent fees.
- Up to 7 years repayment period.
Negatives
- Customers have mentioned lapses and delays in response from customer service representatives.
- Customers have mentioned a complicated process in settling loans for borrowers who will not be able to make repayments on time.
