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Home > Now Finance Review

Now Finance Review

If you are an Australian facing a financial problem, chances are you have heard about Now Finance. Now Finance is an Australian based company that specializes in the provision of different loans.

nowfinance australia review

The company is headquartered in Melbourne. It also has offices spread over Australia to ensure better reach to its customers. Now Finance’s satellite offices are located in Brisbane, Sydney, and Perth.

The company has a variety of loans accessible to any eligible customer looking to get out of a fix.

Like other players in this field, Now Finance offers loans that can be used for various purposes. This includes travel expenses, debt repayment, medical bill, household funding, and even buying a car.

Now Finance Products

Now Finance offers different loan products to its customers. The choice on which product to settle with depends on your individual needs.

Some of the loans available at Now Finance include:

Debt Consolidation loans

Managing different debts you owe can be tedious and exacting. This is where the principle of debt consolidating comes in. Debt consolidation involves collecting all the debts you owe together into a single payment.

Now Finance provides you with a solution by giving you an option to bring together all your debts. You can then manage them by regular weekly or fortnightly payment.

A debt consolidation loan will put you in a better position as you manage your funds.

Travel loan

Lack of funds can stand between you and the dream holiday or getaway you desire. Planning for a good trip then realizing you don’t have enough funds will leave you shattered. That, however, doesn’t have to be the case.

If you need a little help to make your travel plans fantastic, you can apply for a travel loan at Now Finance. Don’t give up on that road experience you desire when aid is only a few clicks away.

Vehicle finance loan

Owning a vehicle in Australia eases your commute, not the mention the comfort it brings. Almost every Australian wants to own a car or at least upgrade to a new one.

With a loan from Now Finance, you can easily bring it all to reality.

Home improvement loan

Making renovations and doing house furnishing is expensive. If you lack enough funds, you can borrow a loan and make all the improvements you intend to. Now Finance offers you a number of loan options for home improvement purposes.

The home improvement loans have fixed interest rates. You can also set up a payment schedule that suits you.

Medical Expenses

Unexpected expenses, such as medical bills for your family member or yourself, can be stressful. Now Finance offers you a loan option that ensures you pay your bills and get treatment or surgery. You can repay the loan later when your health is restored.

Joint loans

You can also apply for a joint loan with your partner. For a joint loan, you and your partner should be living in the same address and, of course, in a relationship.

Joint loans are ideal if you intend to use the funds together as a couple.

In the event of an early payout, no fee is charged. Just like any other loan, the joint loan has a repayment period of 18 to 84 months. You can also set a weekly or fortnightly loan repayment schedule

Joint loans can positively affect your borrowing capacity. As this loan is ideal for couples, you can agree to repay the loan using household income.

Even if you are unemployed, you can get a loan from Nowfinance.

How does Now Finance work

Loan acquisition at Now Finance is straightforward. To get a loan, all you need is to visit their website and apply for it. You can alternatively call Now Finance and you will be guided on how to get a loan quickly. It shouldn’t take more than 15 minutes to apply for any loan type you want.

If you apply for a loan, say not later than 2 pm (EST) you will get a decision about the loan approval on that very day.

Now Finance’s website clearly outlines all the loan types you can apply for. All loan terms, eligibility criteria, and application procedures are also clearly outlined.

Applying for a loan from Now Finance comes with a number of benefits. Some of the benefits are:

  • You get your Australian-based loan advisor to help you with making financial decisions.
  • The personal loans at Now Finance have average fixed interest rates
  • Some loans, e.g., those of up to $40000, have a long loan term: extending up to 7 years.
  • The loan terms and repayments are scheduled to suit your needs.

Is Now Finance safe?

Now Finance is part of the Wingate Consumer Finance Pty Ltd ACN 158 703 612 Australian Credit Licence number 425142. It prides itself on providing loan solutions to customers in need of some quick cash.

The company has an excellent rating from TrustPilot and excellent reviews as well. It has a Trust Score of 4.8 out of 5.

85% of Now Finance customers find it excellent, while 12% more find it great.

To say the least, Now Finance is safe and also reliable.

Why choose Now Finance?

There are a lot of loan providers and money lenders in Australia. Before settling for any provider, it is important to weigh all the pros and cons.

Here are some of the reasons why Now Finance should be on your list of loan agencies when you need a loan.

  • Unlike some other loan providers, at Now Finance, your application is reviewed individually by a person. No software is used in the assessment process.
  • Loan haves flexible loan terms. The personal loan has a repayment term of up to 84 months.
  • Now Finance allows you a flexible repayment schedule
  • The interest rates of loans from Now Finance are better compared to other lenders
  • You get access to your loan advisor who is based in the country

Types of loans

There are various loan options available at Now Finance. Some of the loans are secured while others are unsecured.

Secured loans refer to those where you have to attach part of your personally owned property, such as a sailboat or car, to act as security. Unsecured loans do not need you to attach your property.

Of the two, secured loans have a lower interest rate.  Below we take a more in-depth look at both loan options.

Secured personal loan

For the secured personal loan, you can attach either your motorbike, vehicle or boat. The interest rate for secured personal loans starts at 7.59% to 15.45% per annum. A 9.59% to 17.59% annual comparison rate also applies.

The main benefit of applying for a secured personal loan at Now Finance is that it guarantees you a low-interest rate on the loan you will be applying for.

The secured personal loan has a repayment term of 18 months to 84 months. However, it depends on the loan amount you are borrowing and your repayment schedule. You can opt for a weekly or fortnightly repayment plan.

You can borrow anywhere between $15,000 and $50,000 for secured personal loans.

The value of the property or asset you offer as security will be based on internal estimates. The collateral item has to be worth more than 1/3 of the loan amount you are borrowing.

It is worth noting that specific guidelines may apply to the type of car they accept.

If you have no property to set as security or you don’t intend to attach property, you can go for the unsecured personal loan at Now Finance.

Unsecured personal loan

For the unsecured personal loan, you can apply for any amount between $5,000 and $40,000. Just like the secured loan, this loan has a repayment term of 18 months to 84 months.

However, you don’t need to attach anything as security.


Loans at Now Finance have different interest rates. A comparison rate that’s calculated annually also applies.

Now Finance demonstrates this by using an example of an unsecured loan of $30,000 with a term of 5 years. The minimum amount payable would be $38,610, calculated from the lowest interest rate 8.95% yearly. In this case, a 10.56% comparison rate yearly was also applied. The amount payable was estimated using the weekly payment plan. Additional fees such as $495 establishment fee and $13 administration fee charged monthly were included.

Note that the comparison rate was based on a loan amount of $30,000 over a term of 5 years. For this reason, other loans you apply for might have a different comparison rate because of their terms and other additional charges

Eligibility Criteria

The general eligibility criteria require that applicants meet some requirements before applying for any loan at Now Finance.

You must:

  • Be an Australian or a permanent resident of Australia
  • Have attained the age of 18 or more at the time of application
  • Be employed. Both full-time and part-time employment qualify. If you are self-employed, it has to be for a period of not less than 2 years. If you have a casual job and you have been working for over 6 months, you qualify for a loan at Now Finance. Centrelink payments are considered as a secondary income.
  • Not have defaulted any loans before. Besides, you should not have an existing payday loan.

You don’t qualify to get a loan if you are bankrupt.

Some loans may require you have a copy of the following documents:

  • An Australian drivers license or Medicare card
  • An Australian passport
  • Your identification card
  • Any document that shows proof of income earning or employment
  • Rent or mortgage payment receipts

Loan Application

The application process is quick and straight forward. The whole task will take you about 20 or so minutes if you have a good internet connection.

Visit Now Finance’s website and get your individual rate to get started.

Here is why you should check your rate:

  • Getting an individual interest rate means you don’t have to pay your loan with the standard interest rate
  • It doesn’t cost a dime
  • The process of checking your rate is straightforward and only takes minutes
  • It does not affect your credit score

You can alternatively apply through the phone. Call 1300 275 669 and get in touch with a loan advisor. The loan advisor will guide you through the application process.

If you are taking the online approach, here is a simple guide. First, you have to know your individual rate before moving any further.

Fill in the form available at ‘get my rate’ page and then sit back & relax. Your rate will be sent to you in a matter of minutes. Note that the rate doesn’t change as you go on with the loan application process.

Once you are aware of your rate, go on to finalize your application. You may be required to send some documents to verify your information. The process only takes a few minutes.


After you are done applying for the loan, it is conclusive to say you are through with the involving part. Now Finance will review your loan application to determine whether you will get the loan or otherwise.

The approval process takes a short while. You will get an answer as soon as your loan application is assessed.

Transfer time

If your loan application is successful and has been approved, the funds will be transferred to your account. The transfer time is typically 2 business hours.

The upside of having a loan advisor is that he/she will guide you through the whole application process. You can also ask your loan advisor any questions regarding the loan.

Loan Repayment

Now Finance is flexible when it comes to loan repayment. The loan repayment term is between 18 to 84 months.

Interest, as well as other fees, will be included in the total payable amount.

Customer support

The customer service at Now Finance is good. Should you have any inquiries, you can also go through the website’s FAQs. At the FAQs page, Now Finance has posted answers to the queries commonly asked by the customers.

Most of the questions under the FAQ section can be very helpful especially if you had a similar issue.

If you are not satisfied, you can reach customer support through a number of ways. They include Email, Live Chat, and Phone.

Phone 1300 275 669


Office Locations Melbourne, Victoria



There are offices in Brisbane, Sydney, and Perth too.

Customer support does not operate on a 24/7 basis. Nonetheless, they are responsive and give relevant solutions to inquiries.

Operating Hours

Now Finance operates 5 days a week. Therefore, it is advisable to apply for a loan during the week. Your application will be reviewed and you may even receive the funds on the same day.

Weekday 9am – 8pm
Saturday Closed
Sunday Closed

Final Thoughts

Apart from the interest rates and additional fees, Now Finance is just as good as any other loan agency. The wide variety of available loans is a plus. The loan terms are also favorable.

However, the fact that customer support isn’t available 24/7 is a letdown.

Frequently Asked Questions

Can I get a loan from Now Finance if I am self-employed?

Now Finance does not restrict self-employed Australians from getting a loan.  However, your business ABN has to be registered for a period of more than one year. You will also be required to produce your ATO issued Individual Notice of Assessment.

What is a Joint Personal Loan?

A joint loan refers to a loan option for two people in a relationship that is applied for conjointly. Both co-applicants share repayment responsibility. To qualify to get a joint loan at Now Finance, you need to be living with your partner.

If your join loan application is successfully approved, you and your partner will become co-borrowers. Together, you become liable for the loan.

Before applying for a joint loan, you must ensure that both of you individually meet the eligibility criteria.

How much does it cost to get my credit score or credit report?

Getting your credit score costs nothing.

To access your credit report, get in touch with one of the leading credit agencies in Australia. Equifax and Experian are the preferred agencies.

Does everyone applying for a loan have a credit history?

When you borrow a loan, the information is recorded in a file. Any information about the debts you have is also noted down in this file.

If you have not applied for credit or borrowed a loan, there exists no credit file. By extension, it also means you don’t have a credit score. This explains why most Australians below the age of 18 lack credit scores.

What can I use my loan for?

At Now Finance, you are not limited on where and what to use the loan for. People face different struggles. Fortunately, Now Finances understands that. You can use your credit for various purposes.

They include a family vacation, university fees, medical bills, car repair, shopping, and even utility bills.

Does applying for a personal loan from Now Finance affect my credit score?

When you apply for a loan, details about it will be noted down in your credit file. How you repay the loan affects your overall credit score. Note that delayed payments and defaults will negatively impact your credit score.