responsible lending in australia
Why we put customers
first at NOW Finance
Being a responsible lender means putting our customers’ financial wellbeing
first. We follow industry best practices, comply with all lending regulations,
and ensure our customers only borrow what they can comfortably afford.
What Is Responsible Lending?
What Is Responsible Lending?
Responsible lending is the practice of ensuring that loans are suitable for your financial situation and
that you can comfortably afford the repayments.
In Australia, lenders are required under the National Consumer Credit Protection Act (NCCP) to take
reasonable steps to ensure that:
A loan is not unsuitable for the customer
Unfortunately, we can’t accept applications from temporary visa holders.
The customer can repay the loan without undue hardship
If you’re self-employed, you’ll need at least 2 years of business activity.
If you’re in a casual role, you’ll need to have been working for at least 3 months.
The customer understands the loan terms
Having a clean credit history helps us assess your application faster and gives you a better chance of approval.
More confidence in your decisions
How we practice responsible lending
Lending responsibly isn’t just good practice, it’s the right thing to do. It helps us build long-term
trust with our customers and supports better outcomes for everyone.
Transparent Products
You’ll always know exactly what you’re signing up for. We use clear language and provide full breakdowns of costs. No hidden fees. No surprises.
Thorough Financial Assessments
Before offering you a loan, we assess your income, expenses, credit history, and commitments to ensure it’s the right fit for your situation.
Personalised Loan Offers
We tailor loans to your credit profile, offering an interest rate that reflects your individual circumstances—not a one-size-fits-all approach.
Tools to help you make the right choice
We provide tools like our Eligibility Calculator and Repayment Calculator to help you explore your options and see what’s affordable, before you commit to anything.
Responsible lending, explained
What is responsible lending?
NOW Finance offers unsecured loans, where you can borrow from $5,000 to $50,000, and secured personal loans, where you can borrow from $15,000 to $100,000. A secured loan means you provide an asset as security on the loan.
How do you assess my ability to repay a loan?
A personal loan is a loan you can use for just about anything. You can use it to pay for home extensions, debt consolidation or even a holiday. You can get small personal loans or big ones (up to $100,000). You have to repay the loan with interest over a fixed term. NOW Finance offers fixed terms from 18 months to 7 years. For more information, read about how it works.
What happens if I can't repay my loan?
NOW Finance will not charge fees if you pay off your personal loan early. You may even save money on interest, depending on the terms of your credit contract.
Application Process
What is responsible lending?
NOW Finance offers unsecured loans, where you can borrow from $5,000 to $50,000, and secured personal loans, where you can borrow from $15,000 to $100,000. A secured loan means you provide an asset as security on the loan.
How do you assess my ability to repay a loan?
A personal loan is a loan you can use for just about anything. You can use it to pay for home extensions, debt consolidation or even a holiday. You can get small personal loans or big ones (up to $100,000). You have to repay the loan with interest over a fixed term. NOW Finance offers fixed terms from 18 months to 7 years. For more information, read about how it works.
What happens if I can't repay my loan?
NOW Finance will not charge fees if you pay off your personal loan early. You may even save money on interest, depending on the terms of your credit contract.
What happens if I can't repay my loan?
NOW Finance will not charge fees if you pay off your personal loan early. You may even save money on interest, depending on the terms of your credit contract.
What happens if I can't repay my loan?
NOW Finance will not charge fees if you pay off your personal loan early. You may even save money on interest, depending on the terms of your credit contract.
Important Information
All applications for finance are subject to NOW Finance’s lending and approval criteria. No fees apply only to new NOW Finance Secured Personal Loans and new NOW Finance Unsecured Personal Loans. An establishment fee of up to $595 applies to NOW Finance Car Loans. 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.
Comparison Rates are designed to help you understand the overall cost of a personal loan by taking into account the interest rate, fees and charges, the loan amount, and the loan term. All comparison rates shown are based on a loan of $30,000 over 5 years for the respective product type referenced.
- Loan terms: 18 months to 7 years
- Loan amount: $5,000 – $50,000 (Unsecured); $15,000 – $100,000 (Secured)
- Interest rates: 5.95% p.a. – 26.95% p.a. (Unsecured); 5.95% p.a. – 21.65% p.a. (Secured)
- Comparison rates: 5.95% p.a. – 26.95% p.a. (Unsecured); 5.95% p.a. – 21.65% p.a. (Secured)
- Loan terms: 18 months to 7 years
- Loan amount: $3,000 to $150,000
- Interest rates: 7.59% p.a. – 15.39% p.a.
- Comparison rates: 8.43% p.a. – 16.29% p.a.
Your personalised quote will provide you with an estimate of your interest rate and repayments. The final rate offered, if one is offered, may differ once you have completed a loan application and told us about your personal financial circumstances and credit history.
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.
Representative example: A borrower with excellent credit taking out a $30,000 NOW Finance Unsecured Personal Loan over 5 years at an interest rate of 5.95% p.a. (5.95% p.a. comparison rate), would pay an estimated total of $34,703.50 using the fortnightly payment option. Rates on offer are subject to change without notice.