NOW Finance lowers interest rates again and increases maximum unsecured loan to $50,000

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NOW Finance personal loans are now an even better value for our customers, following the launch of new, lower interest rates!

From February 24th, eligible customers with an “Excellent” credit score can take advantage of interest and comparison rates from just 4.45% p.a.! With no establishment fees, no monthly fees or early repayment fees, on all NOW Finance personal loans, customers with an “Excellent” credit score stand to get an even better deal on their next loan.

What are the new lower rates?

The new interest rates are as follows:

  • Unsecured loans have a new lower rate of 5.95%, up to 17.95%.
  • Secured loans have a new lower rate of 4.45%, up to 15.45%.

Because all our loans come with no fees, your comparison rate will be the same as your interest rate!

What do lower interest rates mean for me?

Eligible customers with an “Excellent” credit score don’t just have the potential to save money on their next loan. Accessing a lower interest rate may also increase your borrowing capacity by lowering your repayments.

How do I take advantage of the new lower interest rates?

You don’t need to do anything differently to take advantage of our new, lower interest rates.

To get started, you can simply Get Your Rate here. If you’re eligible for a NOW Finance personal loan, we’ll tell you your interest rate before you apply.

Unsecured loan limit increases to $50,000

Besides our latest reduction in interest rates, following our move to make all our loans “no fee” in 2020 and the recent extension of our secured loan product up to a maximum of $100,000, we’ve also increased the maximum potential borrowing for an unsecured personal loan.

If you’re looking for an unsecured personal loan, you can now borrow as much as $50,000 from NOW Finance, with comparison rates from 5.95%, an increase of $10,000 from our previous $40,000 limit.

What can I use a $50,000 unsecured loan for?

Here at NOW Finance, we provide a wide range of personal loans tailored to meet your specific needs.

Our loan types aren’t changing, meaning you can continue to choose a NOW Finance personal loan whether you’re looking to consolidate existing debts, want a home improvement loan to fund your next renovation project, or are considering a joint personal loan so you and your partner can make a big purchase and share responsibility for the repayments.

The big difference is that you now have the potential to borrow an additional $10,000 to get those things you want.

What could the ability to borrow $50,000 instead of $40,000 mean for you?

  • Consolidating more of your debts and potentially reducing your monthly repayments even further.
  • The ability to choose an even better car when you’re looking for a new vehicle.
  • A bigger swimming pool for your garden than you could otherwise have got!
  • More cash to spend on your dream wedding and honeymoon.
  • The opportunity to get a bigger joint loan to buy something with your partner.

How do I apply for an unsecured loan of $50,000?

You’ll have the option to increase your borrowing amount to $50,000 when using our personal loan calculator or Get My Rate feature.

If you’re looking to borrow $50,000 and are eligible for a NOW Finance unsecured personal loan, you can then choose to proceed to a full application if you’re happy with your interest rate. You don’t need to do anything differently, and our hassle-free eligibility check and application process remains unchanged!

Check our eligibility criteria here or get your rate on your new personal loan!

Disclaimer: This article contains general comments and recommendations only. This article has been prepared without taking account of your objectives, financial situation or needs.  Before taking any action you should consider the appropriateness of the comments made in the article, having regard to your objectives, financial situation and needs. If this article relates to the acquisition, or possible acquisition, of a particular credit product you should obtain and consider the relevant disclosure documents before applying for the product.


New loans only. Applications for finance are subject to NOW Finance’s lending and approval criteria. Terms and conditions may apply. No fees apply however if you do not comply with the terms of your loan, we may pass on to you any third party enforcement or recovery costs incurred by us. Settlement times may vary depending on individual circumstances. Loan repayment terms range between 18 months to 7 years. For unsecured loans you can borrow between $5,000 to $50,000 with interest rates ranging from 5.95% p.a. (5.95% p.a. comparison rate*) to 17.95% p.a. (17.95% p.a. comparison rate*). For secured loans you can borrow between $15,000 to $100,000 with interest rates ranging from 4.45%p.a. (4.45% comparison rate*) to 15.45% p.a. (15.45% p.a. comparison rate*).  


The Comparison Rate is designed to help you understand the overall cost of the personal loan. It combines the amount of the loan, loan term, repayment frequency, interest rate, fees and charges into a single rate to show the total true cost of the loan. The comparison rates for the NOW Finance loans are based on a loan of $30,000 over 5 years. WARNING: The comparison rates given are 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. NOW Finance does not charge any fees therefore the true cost of the loan or Comparison Rate will always equal the interest rate quoted.


An unsecured personal loan of $30,000 borrowed for 5 years with the interest rate of 5.95% p.a. (5.95% p.a. comparison rate), would estimate to a minimum total amount payable of $34,686.60 via the weekly payment option. Rates are subject to change.


Our confirmed guaranteed personalised rate may change if you provide NOW Finance with incorrect personal information or security details. In some circumstances, NOW Finance may require further information from you in order to provide you with your guaranteed personalised rate.

NOW Finance is a trademark of Now Finance Group Pty Ltd ACN 158 703 612 Australian Credit Licence number 425142, as agent for NF Finco 2 Pty Ltd ACN 164 213 030