FAQS

Getting a loan with NOW Finance is simple, fast, and completely online, whether you’re looking for a personal loan or a car loan. Here’s how it works:

1. Get your personalised rate, Check your rate in under 2 minutes with no impact on your credit score.
2. Apply online, Complete your application and provide a few details about your loan.
3. Receive funds fast, Once approved and your ID is verified, your funds can be in your account in as little as 24 hours.

All with no ongoing fees, no surprises, and none of the bank.

To be eligible for a NOW Finance loan, you must:

• Be an Australian citizen or permanent resident (temporary visa holders aren’t eligible).
• Have steady employment as your main income source and not be on probation.
• Self-employed? You’ll need 2 years of business activity.
• Casual role? At least 3 months of employment.
• Have no bankruptcies or unpaid defaults.
• Provide a valid Australian Passport or Driver’s Licence for ID verification.
• Be 18 years or older.

Yes, you may be able to refinance your NOW Finance Personal Loan to better suit your current financial situation. Refinancing means replacing your existing loan with a new one, which may offer lower interest rates, different repayment terms and access additional funds.

You might consider refinancing if your credit score has improved, your income has increased, or market rates have dropped.

Please note that refinancing involves a new credit assessment and credit check, and eligibility depends on your existing loan balance and our lending criteria. There is a minimum additional lend of $3,000 required to refinance an existing loan. Make sure to review your personal circumstances and the loan terms to ensure refinancing is suitable for you.

NOW Finance offers flexible loan terms ranging from 18 months (1.5 years) to 7 years (84 months). You can choose a term that suits your budget and goals.

There are no fees for extra repayments or early payout, so you can pay off your loan faster and save on interest if you choose.

You can use the NOW Finance Repayment Calculator to explore different term lengths and find the best option for your budget and goals.

Yes. But only one. NOW Finance Car Loans have an upfront $595 establishment fee but that’s it, there are no other fees.

That means:

• No monthly fees
• No extra repayment fees
• No exit fees

This simple and transparent approach means you can make extra repayments anytime with no fees or penalties. This helps you pay off your loan faster and save on interest, giving you more flexibility and control over your finances.

You can get a personalised quote in just 2 minutes, without impacting your credit score.

Once you submit your full application, our initial assessment usually takes around 2 minutes. One your application is approved and your identity has been verified, funds can be transferred to your account in as little as 24 hours. Once you submit an application, you’ll receive a personalised quote in just 2 minutes without affecting your credit score. If you decide to proceed, most applications are assessed within 1-2 business days, and if everything’s in order, your funds can be transferred to your account in as little as 24 hours.

No. Getting a quote for a Car Loan or Personal Loan with NOW Finance won’t affect your credit score.

When you request a quote, we perform a soft credit enquiry (known as an Access Seeker check) to check your eligiblity and provide you with a personalised quote. This won’t impact your credit score.

If you decide to proceed with a full loan application, we will do a full credit check (known as a hard enquiry). This may appear on your credit file (as is standard with all lenders) and could impact your credit score.

Our Vehicle Loans are secured by your vehicle, which means there are additional setup and registration requirements. The $595 establishment fee covers the cost of securing and registering your car as part of the loan.

Our Personal Loans, whether secured or unsecured, have no fees ever. That means no establishment, monthly, or early repayment fees.

With NOW Finance, you always know exactly what you’ll pay, no hidden fees, no surprises, none of the bank.

Almost . All NOW Finance Personal Loans, whether secured or unsecured, come with no fees ever. That means no establishment, monthly, or early repayment fees, just transparent loans with a fixed interest rate.

Our Vehicle Loans include a $595 establishment fee to cover vehicle setup and registration costs. Beyond that, there are no additional fees or extra charges.

With NOW Finance, every loan is designed to be clear, fair, and none of the bank.

To be eligible for a NOW Finance loan, you must:

• Be an Australian citizen or permanent resident (temporary visa holders aren’t eligible).
• Have steady employment as your main income source and not be on probation.
• Self-employed? You’ll need 2 years of business activity.
• Casual role? At least 3 months of employment.
• Have no bankruptcies or unpaid defaults.
• Provide a valid Australian Passport or Driver’s Licence for ID verification.
• Be 18 years or older.

You can check your eligibility for a personal or car loan in minutes using our Eligibility Calculator. It’s fast, free, and won’t affect your credit score.

Yes, NOW Finance offers joint personal loans for couples living at the same address. Both applicants share equal responsibility for the loan and its repayments.

To apply, select “With my partner” when getting your rate. Both applicants will need to:

• Meet our loan eligibility criteria,
• Provide bank statements, and
• If the application is approved, verify their identity before the loan is settled.

Applying jointly may help increase your borrowing power.

No, NOW Finance does not offer business or commercial loans. Our loans are designed exclusively for personal use.

BankStatements.com.au is Australian owned and developed technology with strict adherence to Australian Privacy Principles and laws. Their technology has been independently designed and vetted by world-class security experts to ensure the highest levels of data protection and security.

Use of this tool is in accordance with these Terms of Use.

You can read more about BankStatements.com.au bank level security here.

We’re serious about protecting your identity. We need a completed ID scan so that we can verify the loan application is being requested by the right person. We use an encrypted tool provided by BRYK.ID to securely scan your ID document.

The introduction of CCR in 2017 changed the way credit reporting bodies calculate credit scores. This change can mean you are rewarded for positive credit performance rather than only being punished for negative aspects of your credit file, as was the case before.

To apply for a NOW Finance personal loan, you must meet the eligibility criteria.
NOW Finance customers must be employed and not currently on probation. As such, NOW Finance will only consider Centrelink income, including pension, if it is a secondary income source.

Unfortunately not. NOW Finance does not provide finance for any type of business lending enquiry, business capital injection or cashflow purpose; or, for business asset or equipment acquisition.

A NOW Finance personal loan must be used wholly for an acceptable personal purpose.

A home renovation loan is a type of personal loan designed to help you finance home improvements, repairs, or upgrades. You can use it for almost any project — from kitchen and bathroom remodels to extensions, landscaping, or rebuilding.

With NOW Finance, you can choose between:

• Unsecured Personal Loan: $5,000 – $50,000 (no fees)
• Secured Personal Loan: $15,000 – $100,000 (no fees)

Every loan comes with fixed rates, flexible terms, and no fees ever, giving you clear and manageable repayments.

Yes. A Dental Loan can help you cover the cost of dental surgery and other major procedures. It works like a standard unsecured personal loan:

1. Get your personalised rate: Check your rate online in minutes, with no impact on your credit score.
2. Apply online: Submit your application and supporting details.
3. Receive funds quickly: Once approved, funds are typically available within 24–48 hours.
4. Pay your dentist directly: Use the funds to cover surgery or treatment costs.
5. Repay over time: Make fixed repayments across your chosen term for easier budgeting.

With NOW Finance, there are no fees ever, and you can borrow with confidence, knowing exactly what you’ll repay.

A dental loan can be a smart choice if you:

• Need to cover urgent or high-cost dental treatment.
• Want to spread repayments over time instead of paying everything upfront.
• Prefer a fixed-rate personal loan with no hidden fees or surprises.
• Want to manage essential dental care without putting extra pressure on your finances

NOW Finance deposits the approved funds directly into your bank account, so you can choose any dentist or dental clinic in Australia. Once approved, funds are typically available within 24–48 hours, so you can book treatment with the provider that best suits you.

Yes! You can use your wedding loan to cover the costs of a wedding abroad, including venue hire, catering, and other related expenses. Keep in mind that exchange rates and international transfer fees may apply. To help manage your budget, it’s a good idea to have a clear contract with your overseas venue provider to lock in costs.

Absolutely! Our wedding loans can be used for any wedding, whether it’s your first, second, or beyond. As long as you meet our eligibility requirements, you can apply for a wedding loan whenever you’re ready to make your special day happen.

A Wedding Loan can be used to cover almost every part of your celebration — from the proposal to the honeymoon. Common expenses include:

• Engagement and wedding rings
• Venue hire and catering (including food and beverages)
• Band, DJ, or entertainment
• Ceremony and reception costs
• Photography and videography
• Wedding attire, accessories, hair, and makeup
• Transport and car hire
• Flowers and décor
• Guest accommodation
• Honeymoon or travel expenses

With NOW Finance, you can tailor your loan to fit your plans and budget, with no fees ever and fixed repayments for complete peace of mind.

In some cases, you may be able to claim a tax deduction on the interest portion of your education loan, depending on how the funds were used. For example, if the loan was used to support self-education related to your current job, certain expenses might be deductible.

For personalised advice, it’s best to check the latest guidance on the ATO website or speak with a registered tax accountant to understand what applies to your situation.

No, education loans cannot be transferred or reassigned to another person. The loan agreement is made directly between you and NOW Finance, meaning you’re responsible for all repayments under your name.

If your circumstances change, speak with your NOW Finance personal loan advisor to discuss your options.

NOW Finance offers flexible loan terms ranging from 18 months (1.5 years) to 7 years (84 months). You can choose a term that suits your budget and goals.

There are no fees for extra repayments or early payout, so you can pay off your loan faster and save on interest if you choose.

You can use the NOW Finance Repayment Calculator to explore different term lengths and find the best option for your budget and goals.

No. NOW Finance Personal Loans have no fees, ever.

That means:

• No establishment fee
• No monthly fees
• No extra repayment fees
• No exit fees

You’ll only ever pay interest on the amount you borrow.

Please note that our Car Loans include a once off establishment fee. Like our Personal Loans, there are no monthly fees, extra repayment or exit fees.

Yes. But only one. NOW Finance Car Loans have an upfront $595 establishment fee but that’s it, there are no other fees.

That means:

• No monthly fees
• No extra repayment fees
• No exit fees

This simple and transparent approach means you can make extra repayments anytime with no fees or penalties. This helps you pay off your loan faster and save on interest, giving you more flexibility and control over your finances.

Our Vehicle Loans are secured by your vehicle, which means there are additional setup and registration requirements. The $595 establishment fee covers the cost of securing and registering your car as part of the loan.

Our Personal Loans, whether secured or unsecured, have no fees ever. That means no establishment, monthly, or early repayment fees.

With NOW Finance, you always know exactly what you’ll pay, no hidden fees, no surprises, none of the bank.

Almost . All NOW Finance Personal Loans, whether secured or unsecured, come with no fees ever. That means no establishment, monthly, or early repayment fees, just transparent loans with a fixed interest rate.

Our Vehicle Loans include a $595 establishment fee to cover vehicle setup and registration costs. Beyond that, there are no additional fees or extra charges.

With NOW Finance, every loan is designed to be clear, fair, and none of the bank.

The easiest way to update your direct repayments is through the customer portal or the NOW Finance mobile app. Alternatively, you can contact us and request a change from our team of personal loan advisors.

Yes, you sure can – and there are no fees for extra repayments.

You sure can, and there are no exit fees.

The comparison rate is your interest rate plus most additional fees that a lender builds into your loan. The comparison rate is the best way to assess different lenders’ loan products. Lenders who offer a lower interest rate may have a higher fees schedule, resulting in a higher comparison rate.

NOW Finance charges no fees on personal loans. So the comparison rate we quote is always the same as the interest rate.