The now Finance Unsecured Personal Loan is available for any amount you want to borrow between $4,000 and $40,000, and you can repay it over a term ranging from 2 to 7 years. It comes with the flexibility to make your repayments either weekly or fortnightly.
The really good news is that the now Finance Unsecured personal loan interest rate is tailored to suit your credit history. Rates range from 7.95% to 11.45% and 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 also make extra repayments to pay your loan off quicker and save on interest - just remember that there’ll be an early break fee ($175 if you repay entirely in the first 6 months, $120 if you do in 6-12 months) for paying off your entire loan before the fixed term is up. There's also a $395 application and $13 service fee to account for, and be sure to make your repayments on time to dodge the $35 late payment fee.
Who it's 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.
As an unsecured loan, you’ll usually wind up with a higher interest rate on this product than if you were to opt for a secured personal loan, even if you have a top-notch credit score.
Plus, if you decide to make extra repayments, remember that there’s no redraw facility to access that cash again.