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NOW Finance Secured Personal Loan

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Interest rate from
4.45% 15.45% p.a.
Comparison rate from
4.45% 15.45% p.a.based on $30,000
over 5 years
Upfront fee
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Mozo editorial review NOW Finance Secured Personal Loan

Last updated: 26 February 2021.

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What's hot
  • Fixed rates from 4.45% (4.45% comparison rate*)
  • No upfront, ongoing or exit fees
  • Extra repayments allowed
What's not
  • No redraw facility
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Don’t like fees? With NOW FINANCE, you may not have to worry about them! Not only does this loan come with fixed rates starting at a low 4.45% (4.45% comparison rate*), there are no application, ongoing monthly, exit or early repayment fees. There are also flexible repayment options - choose a weekly, fortnightly or monthly repayments as well as make free extra repayments if you want to.

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Key features

The NOW FINANCE secured personal loan is a competitive product that can come with both a low fixed rate and no fees. Loans range from $15,000 to $100,000 and can be paid back over 2 to 7 years. 

Fixed rates are determined by a customer’s credit rating, meaning the better your credit the lower rate you’ll receive. Rates start at a competitive 4.45% (4.45% comparison rate*) but just bear in mind they go up to 15.45% (15.45% comparison rate*). 

When it comes to fees - you may not pay a thing. NOW FINANCE doesn’t charge an application, ongoing service, exit or early repayments fees. The only cost to be mindful of is a $35 late payment fee if you miss a regular repayment. So be sure to make all  your payments on time. 

And on the topic of repayments, there’s plenty of flexibility on this loan. Borrowers can choose a weekly or fortnightly repayment schedule as well as make additional contributions at no extra cost. There is no redraw attached to this product though, so once you make an extra repayment you cannot access it later on.

Who is it good for

This loan could be the perfect option for someone that doesn’t want to pay fees on their personal loan. Plus, those that have an excellent credit rating can benefit from competitively low fixed interest rates.

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Any catches

This loan is a secured option, meaning you’ll have to put up an asset against the loan as security. The catch is the value of the security must be at least 33% of the loan amount you intend to take out.


Rates and fees information correct as at 22 June 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
  • Fixed

  • 4.45% 15.45% p.a. fixed

  • 4.45% 15.45% p.a.based on $30,000
    over 5 years

  • $0.00

  • $0.00

  • $35.00

  • $0.00

  • 0

Other financial bits
  • $15,000.00

  • $100,000.00

  • 2 Years

  • 7 Years

  • Various

  • Weekly, Fortnightly

  • yes

  • no

  • Value of security must be at least 33% of the loan amount.

  • none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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