NOW Finance Unsecured Personal Loan
- Interest Rate (p.a.)
- 5.95% to 26.95%
- Comparison rate (p.a.)
- 5.95% to 26.95%
- Min Loan Amount
- $5,000
Summary
This fee-free personal loan offers one of the lowest rates on the market.
NOW Finance's No Fee Unsecured Personal Loan stands out with a minimum interest rate in the top 5% of our database. Combined with no application or ongoing fees this loan offers strong value for eligible borrowers.
This is reflected in its high Finder Score of 9.5 ranking it in the top 10% of unsecured personal loans. Flexibility is another key feature with extra repayments allowed without penalty making it a competitive option.
Pros
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There's no application fee for this product
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There are no ongoing fees to worry about
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Have a dedicated loan advisor for the duration of your loan
Cons
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The worse your credit score, the higher your interest rate will be
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The maximum interest rate you might be expected to pay is very high
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You can only borrow up to $50,000, so if you have larger expenses this loan won't work for you
Details
Product details
| Product Name | NOW Finance No Fee Unsecured Personal Loan |
| Interest Rate (p.a.) | 5.95% to 26.95% |
| Comparison rate (p.a.) | 5.95% to 26.95% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $50,000 |
| Loan Security | Unsecured |
NOW Finance is a Finder Awards winner!
The NOW Finance No Fee Unsecured Personal Loan won Best Unsecured Personal Loan in the 2026 Finder Awards.
Full list of 2026 winnersHow does compare?
- Top-rated product. This loan has a Finder Score of 9.5 and ranks in the top 10% of unsecured personal loans in our database.
- Competitive interest rates. With a minimum interest rate from 5.95% this loan is in the top 5% for lowest rates in the unsecured personal loan market.
- Save on fees. Unlike many other personal loans you won't be charged an application fee or any ongoing monthly account-keeping fees.
- Pay off your loan faster. You can make extra repayments to pay your loan off sooner and save on interest without being charged a penalty fee.
- Your final rate isn't guaranteed. The advertised interest rate from 5.95% is only offered to borrowers with an excellent credit history, so your personalised rate may be higher based on the lender's assessment of your application.
- Lacks some flexibility. While you can make extra repayments without penalty the loan doesn't come with a redraw facility, a feature offered by some other personal loans.
- This is an online-only lender. NOW Finance does not have physical branches so you won't get face-to-face service or be able to bundle your loan with other banking products.
How do NOW Finance Unsecured personal loans work?
A NOW Finance unsecured personal loan provides finance to approved applicants for any worthwhile purchase - which means anything from a holiday, to a vehicle, or even consolidating your existing debt.This loan comes with zero fees and a personalised interest rate. This means NOW Finance will base your rate on your personal situation and credit history.
You can apply for loans from $5,000 up to as much as $50,000 with no security. When you take out a NOW Finance loan you will agree to pay it off within a time period of between 18 months to 7 years. Pay weekly or fortnightly.
How to apply
You can apply for a NOW personal loan online.Eligibility criteria
- Be 18 years or over
- Be an Australian Citizen or permanent resident
- Be employed, and have passed your probationary period
- Have no prior bankruptcy or defaults
- Have identification such as a current Australian Drivers License or an Australian Passport
Features of this loan
- Unsecured. You don’t need to provide collateral for this loan.
- Free early repayments.
- Borrow from $5,000 to $50,000.
- No monthly fees.
- No establishment fee.
- Funds are distributed into your account within 2 working days.
- Personalised interest rates.
How much does a NOW Finance Unsecured personal loan cost?
You will pay these fees
| Cost | Amount |
|---|---|
| Interest Rate | 5.95% to 26.95% p.a. |
| Comparison Rate | 5.95% to 26.95% p.a. |
| Establishment fee | $0 |
| Ongoing fees | $0 per month |
You might pay these fees
| Cost | Amount |
|---|---|
| Early pay out fee | $0 |
| Cash advance fee | $0 |
| Additional repayments fee | $0 |
| Late payment fee | $0 |
| Dishonour fee | $0 |
| Paper statement fee | $0 |
Sources
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