Now Finance (stylised NOW) is an online only non bank lender. It's one of Australia's newest lenders, founded in 2012, and currently offers a range of personal loans.

Now has received plenty of industry recognition for its user experience. It's notable for its 'VIP' service: every borrower has a permanent loan consultant that manages their account, which can streamline the customer experience.

As a non bank lender, Now Finance does not take customer deposits. Until 2021, it relied on Wingate Group for its funding, but it has since moved into the securitisation market. Now Finance sells securities backed by its loan book to investors that work similarly to bonds. In 2022, Now raised $200 million from selling these securities.

Products and services

Now Finance offers an array of personal loan products for various uses. There are a range of unsecured personal loans that can go towards purposes like home renovation, debt consolidation, medical expenses, and travel. If you're looking for a new vehicle, Now can also help, with secured loans available with a higher borrowing ceiling.

Now distinguishes itself from other lenders with zero fees. That means there are no upfront costs, no early exit penalties and no fees for missed payments.