This article outlines how to get your client's rate estimate for a NOW Personal Loan
Rate Estimate Eligibility Considerations
Your client may not qualify for a rate estimate due to some of these factors:
- If your client's comprehensive credit score is below 420
- If your client's Equifax One score is below 400
- If your client has a financial default, more than one utility default, a judgement or bankruptcy on their credit file
- If the RHI data has a 6 or X or recent missed payments
How to get an unsecured loan rate estimate
- In the Application Portal home screen, click New Quote/Application.
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Under the Personal Loans heading, select a single or joint application. Click Create.
- On the quote submission screen, enter the applicant(s) details. This will include their contact information, residential and employment status, loan purpose, customer identity documents and any related assets (for secured loans).
🗣️ Ensure the disclaimer is read out to your client before obtaining a quote.
Click Get Your Customer's Rate.
4. The NOW Personal Loan quote will be displayed.
If required, discount the interest rate and then click Calculate to check the impact to your client's repayments and your commission (excluding GST).
If your client receives the default rate of 22.75%, that means there was no credit file found.
Check for entry errors on the quote, then complete a new quote with the correct customer details to get the correct interest rate.
| ➡️ Next Step: Submitting a loan application |