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Frequently Asked Questions

How can I contact you?

Our team of Australian-based personal loan advisors can be contacted in the following ways, to suit when and how you prefer to
contact us.

P: 1300 275 669 (9.00am – 8.00pm EST)
E: customerservice@nowfinance.com.au
Or chat with us online at nowfinance.com.au

What are the maximum and minimum loan amounts and loan terms?

Our unsecured personal loans range from $4,000 to $40,000, repayable between 18 months to 7 years to suit your budget.

What loan purposes does NOW FINANCE lend?

You can use your personal loan for most purposes! This could be anything from a holiday, home improvements, household furnishings, car purchase or repairs, auto upgrades, debt consolidation, educational expenses, medical and cosmetic surgery, dental surgery, mortgage cost funding, vehicle deposit funding, and even a wedding, funeral or sporting equipment.

What are our interest rates?

Our interest rates are tailored to your credit score. To unlock your individual rate click here . Your special interest rate could range from 8.95% to 16.95%*. You can obtain your special rate upfront and without obligation, and without affecting your credit score via our online tool and direct communication with Veda.

* Based on an unsecured $30,000 loan over a 5 year term the comparison rate range from 10.42% to 18.38%. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Do I meet the eligibility criteria?

Click here to see if you are eligible for a NOW FINANCE personal loan. Amongst a range of factors the key eligibility items are: you are 18 years of age or older; you are currently employed (or) self-employed; you have a good or excellent credit file; and you have not (currently or previously) been bankrupt or subject to a Part IX Debt Agreement.

How do I receive my individual rate?

Getting your individual rate is quick and easy and won’t affect your credit score. You will know your rate before you apply by clicking on the Get my rate-button and complete the short form on the credit check page.You will get your rate within one minute and this rate won’t change when you continue to submit your online application.

I don’t have an Australian driver’s licence. Can I still access my individual rate?

Unfortunately when you don’t have an Australian driver’s licence you cannot access your credit score band and individual rate. Please check our Eligibility Criteria before applying. If you believe you qualify, you can continue your application with our standard rate of 16.95%* by calling 1300 275 669.

* Based on an unsecured $30,000 loan with an interest rate of 16.95% over a 5 year term, the comparison rate will be 18.38%. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

How do I apply for a loan?

You can apply online and complete the online application in 10 minutes or less. You’ll get your individual rate before you apply. Or you can apply over the phone (1300 275 669) by speaking with one of our Australian-based personal loan advisors.

Will applying for a personal loan affect my credit score?

Usually when you apply for a financial product, this will be recorded on your credit file and may affect your credit score. However, our application process is quite unique. Our direct communication with Veda will allow you to access your individual rate for free before you apply without hurting your credit score. At the point when you decide to submit your personal loan application, this will record a credit enquiry on your credit file, and may affect your credit score.

What ID do you accept (and what happens if I don’t have one)?

We accept one of the following combinations for ID:

Current Australian Drivers License (AND) Current Medicare Card
OR
Current (or within 2 years of its expiry) Australian Passport

Where you are unable to provide one of the two combinations, we will be unable to assess your application.

When will I get a decision on my application?

We will assess your application and get back to you within 48 hours (excluding weekends and Victorian public holidays). Make sure you’ll have some documentation ready to submit to ensure a smooth and speedy process. If all goes well, the process from application to receiving the funds shouldn’t take longer than 5 working days.

How long does it take for NOW FINANCE to fund my personal loan?

Once your loan is given final approval and we have received the necessary documentation, we will transfer the funds into your nominated account within 2 hours.

What fees are applicable for my loan?

Establishment Fee: up to $395.00
Administration Fee: $3.00 weekly (or) $6.00 fortnightly.
Early Termination Fee: $175.00 if your loan is repaid in first 6 months (or) $120.00 if your loan is repaid between 6 and 12 months. No Early Termination Fee applicable after 12 months.

What repayment options do you offer?

We offer flexible weekly or fortnightly repayment options via Direct Debit tailored around your pay cycle to assist with managing your budget.

Do you allow for additional payments?

We sure do. Additional payments can be made as a direct transfer via internet banking, or by increasing your direct debit arrangement with us.

Is there anything that I can send to you that could assist in assessing my application faster?

All applications are subject to NOW FINANCE‘s standard credit assessment and lending criteria. While any conditional approval will be specific to you the following items will assist:

  • One payslip (no older than 30 days old) and 2016 PAYG summary
  • Front and back of your ID that you have used in your application
  • Front page of a bank statement for us to credit/debit your funds
  • Any other conditional approval condition(s) will be advised by your Australian-based personal loan advisor

Will you ask for bank statements?

All applications are individually assessed against NOW FINANCE‘s current credit assessment and lending criteria. There will be instances where 90 days bank statements are required. To assist you providing this to NOW FINANCE, we have partnered with www.bankstatements.com.au who will send your bank statements to us within seconds of you providing approval. NOW FINANCE will only receive your bank statements and we do not retain your banking information.

 

Get started now

Call 1300 275 669 or