04 Feb, 2021

NOW Finance Update - Secured Personal Loans up to $100k

NOW Finance has increased their secured personal loan limit AND reduced their interest rate!

From today, Nodifi partners will be able to offer clients a secured personal loan up to $100k with no lender fees at an interest and comparison rate of 5.45% p.a. to 15.45% p.a.*.

Clients can now borrow between $15,000 and $100,000 with an interest and comparison rate of 5.45% p.a. to 15.45% p.a.* with NOW Finance, when they add security against their loan. This is inclusive of origination fee and without any application fees, monthly fees, or early termination fees.

The fine details

LOAN TERM
18 months to 84 months on secured loans from $15,000 to $100,000

INTEREST & COMPARISON RATE
Newly introduced interest and comparison rate of 5.45% p.a. to 15.45% p.a. secured*

CUSTOMER BENEFITS

  • Secured loans can be used to purchase a car, boat, caravan, motorhome, motorbike or for any worthwhile purpose
  • A lower rate than an unsecured loan
  • The same interest and comparison rate for the lifetime of their loan
  • NOW Finance will cover the cost of the PPSR fee as well as removing the application fee, monthly fee and early termination fee
  • Customers can use an asset they already own as security for their personal loan to get a lower rate

ELIGIBILITY

  • Secured loans from $50,001 to $100,000 are available to customers aged 25 years or older and where the security VLR is 70% or more
  • For secured loans between $50,001 and $100,000, if a motor vehicle/light commercial vehicle is used as security, the age of security can be no greater than 12 years at application stage
  • NOW Finance eligibility criteria is unchanged for secured loans between $15,000 to $50,000

If you have any queries with the update, please contact your Nodifi relationship manager.

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