Purpose of this Document

This target market determination (TMD) seeks to offer consumers, distributors and staff with an understanding of the class of consumers for which this product has been designed, having regard to the objectives, financial situation and needs of the target market for this product.

This document is not to be treated as a full summary of the product’s terms and conditions or the product’s features. This document is and is not intended to be a customer disclosure document, does not provide financial advice and has not been prepared taking into account an individual’s objectives, financial situation or needs.

Consumers should refer to the Credit Guide, Credit Schedule and any other documents setting out the terms and conditions under the product when making a decision about this product. These documents are provided to a consumer prior to the provision of credit. A copy of these documents can otherwise be requested by contacting us at: customerservice@nowfinance.com.au

Target Market and Key Attributes

The NOW Finance Secured Personal Loan has been designed for customers with the following needs, objectives and financial situation:	Key Attributes of the NOW Finance Secured Personal Loan that make the product appropriate for consumers in the target market, consistent with their likely objectives, financial situation and needs.
want to borrow funds for personal, domestic, or household purpose including but not limited to: ▪ Vehicle, watercraft or caravan purchases;  ▪ Home renovations; ▪ Household furnishings;  ▪ Debt consolidation;  ▪ Travel;  ▪ Medical expenses; and  ▪ Wedding expenses.  will use a vehicle, watercraft or caravan to secure the loan;	A NOW Finance Secured Personal Loan is suitable for a customer seeking to acquire funds for a personal, domestic, or household purpose.
are seeking between $15,000 to $100,000 for a loan term between 1.5 to 7 years over time with regular repayments;	• Amount: The loan amount must be at least $15,000 and up to $100,000.  • Term: The loan term must be at least 1.5 years and up to 7 years.  • Repayments: Customers must repay the loan by making fixed principal and interest repayments on a weekly, fortnightly or monthly basis.
require a fixed interest rate;	A fixed interest rate means customers have certainty that the interest rate will not change throughout the duration of the loan.
Require flexibility to make extra repayments or pay out the loan early;	No extra repayment charges: customers can make early repayments during the loan without any fees.  No early repayment charges: customers can pay out their loan at any time without any fees or charges.

Unsuitable customers

• are under 18 years old;
• are not an Australian citizen or permanent resident;
• have defaults;
• are unemployed;
• are a current or prior bankrupt or party to a court judgement;
• want the chance that the interest rate may increase/decrease over the life of the loan;
• want to be able to redraw any additional repayment made on the loan;
• requires an unsecured loan; and/or
• are looking to borrow less than $5,000 or more than $100,000.

Distribution of the NOW Finance Secured Personal Loan