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NOW Finance Unsecured Personal Loan

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Interest rate from
5.95% 19.95% p.a.
Comparison rate from
5.95% 19.95% p.a.based on $30,000
over 5 years
Upfront fee
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Mozo editorial review NOW Finance Unsecured Personal Loan - last updated: 13 May 2022

5 / 5
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What's hot
  • 2022 Mozo Experts Choice Award winner
  • Borrow from $5,000 up to $50,000
  • No fees on all loans
What's not
  • Longer loan terms not available for smaller amounts (up to $8K)
Mozo snapshot

If you have an excellent credit score, then not having assets or property to put down as security, shouldn’t stop you from getting your hands on a low rate personal loan deal. And with the NOW Finance No Fee Unsecured Personal Loan, it won’t! Get a fixed interest rate tailored to your circumstances, the ability to make extra repayments on your loan and you won't even be charged an establishment fee, no matter how much you're borrowing.

To top all that off, it also received a 2022 Mozo Experts Choice Personal Loan Award in the best Unsecured Personal Loan category. 

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Key features

The NOW Finance No Fee Unsecured Personal Loan is available for any amount you want to borrow between $5,000 and $50,000, and you can repay it over a term ranging from 18 months to 3 years for loan amounts between $5k-$8k, or 18 months to 7 years for amounts between $8k-$50k. It comes with the flexibility to make your repayments either weekly or fortnightly.

The really good news is that the NOW Finance No Fee Unsecured personal loan interest rate is tailored to suit your credit history. Rates start from 5.95% p.a. (5.95% p.a. comparison rate*) with a max of 19.95% p.a. (19.95% p.a. comparison rate*). The better your credit score, the lower your rate. After all, you’ve put the hard work into keeping an excellent credit score so why settle for an ordinary interest rate?

You can even make extra repayments to pay your loan off quicker and save on interest. 

Regardless of your loan amount, you won't be charged any fees at all. That's right - no application, monthly or early repayment fees whatsoever.

Who is it good for

Customisable to you as a borrower, this personal loan is perfect for someone without assets to put up as security, but who wants to be rewarded for maintaining a great credit score.

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Any catches

Although interest rates for this loan start competitively low when compared to other unsecured personal loans, if you do provide security you could receive up to 2.5% p.a. off your rate. Another thing to remember is that, if you decide to make extra repayments, remember that there’s no redraw facility to access that cash again.

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Polly Fleeting
Money writer

Polly Fleeting specialised in loans and credit cards. Her work helped people find ways to make smart product choices, reduce debt and get more for their hard-earned dollars. Polly has a degree in Journalism from the University of Technology, Sydney and is ASIC RG146 (Tier 2) certified for general advice. She worked at Mozo for three years, finishing in January 2022 to take up a career in teaching.


Rates and fees information correct as at 25 May 2022. 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.


5.95% 19.95% p.a. fixed

5.95% 19.95% p.a.based on $30,000
over 5 years







Other financial bits



2 Years

7 Years



Weekly, Fortnightly



Rates based on borrower with excellent credit score. Maximum 3 year term for loan amounts $8,000 or less.


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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