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100% online

7-minute quote

Interest rates

from 7.95% p.a.*

Borrow from

$2K - $50K

Direct lender

100% kiwi

If you consolidate your debt, what would your repayments be?

$2,000
$50,000

per

Over

Total Payable: $27,363
Repayments as low as
$105.24
Get a personalised estimate
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Won’t affect your credit score.

*Nectar Money's personalised interest rates are from 7.95% - 29.95% p.a fixed based on your unique circumstances. A $240 establishment fee and $1.75 admin fee per repayment applies. Calculator results are a guide based on an 11.95% interest rate and include the above fees.

Get your personalised loan quote as soon as 1:05 pm*

  • 01

    Simple, 7 minute application

    Apply online today and get your personalised loan quote.

  • 02

    Choose a loan option

    Select the amount and payment option that suits you.

  • 03

    Receive funds as soon as today

    If approved, we aim to have the funds in your account the same day as your contract being signed online.

Check your rate
*Nectar Money's personalised interest rates are from 7.95% - 29.95% p.a fixed based on your unique circumstances, and is subject to responsible lending checks, credit criteria and terms and conditions. A $240 establishment fee and $1.75 admin fee per repayment applies.

Up front rates with no hidden fees

  • Loan sizes

    $2,000 - $50,000

  • Establishment fee

    $240. $1.75 admin fee per repayment

  • Interest rates

    7.95% - 29.95% p.a. fixed

  • Loan terms

    6 months - 5 years

Loan Features

  • Loans are unsecured
  • No early repayment penalties
  • We fix your personalised interest rate for the life of the loan
  • You can make repayments weekly, fortnightly or monthly depending on your pay cycle
Find out more about Nectar's interest rates and fees

Eligibility Criteria

  • You must be 18 or over
  • You must have an income of $350 per week (after tax) or more
  • You must be a permanent resident or citizen of New Zealand
  • You must not have any serious bad debts or payment defaults
  • You must have a New Zealand driver's licence or New Zealand passport

Frequently Asked Questions

1. What is a debt consolidation loan?

A debt consolidation loan allows you to combine multiple debts into a single personal loan. Instead of juggling several loan repayments each month, each with different interest rates and amounts to repay, you will only have a single monthly payment to budget for. The most frequently consolidated debts are personal loans, credit cards, auto loans or car loans, and Buy now, Pay later balances.

Merging all your debt into a single loan doesn't reduce your total debt. This consolidation approach simplifies the management of your debt, and can reduce your total interest payments.

2. How does a Nectar Money debt consolidation loan work?

We consider both your financial and personal circumstances when evaluating your quote or loan application from Nectar Money. This is similar to all personal loans provided by Nectar Money.

An integral part of the process requires us to ask for the details of all your current loans. If you agree to Nectar's loan quote, including the interest rate and repayment terms, we will settle the loans and debts specified in your loan agreement. This might cover all your debts or only some of them, contingent upon the approved maximum loan limit.

Managing your Nectar Money personal loan is easy. Borrowers can access the borrower portal to view their loan balance, upcoming repayment dates, and the repayment amounts due.

3. What are the benefits of debt consolidation loans?

Debt consolidation loans can offer several benefits including:

  • No early repayment fees: provides the flexibility to repay the loan faster, if your circumstances permit, without incurring additional charges. This can significantly reduce the total interest cost over the life of the loan, thus making debt management more cost-effective and efficient.

  • Simplifying finances: Combining all your debt into one loan reduces the number of payments you need to manage. This simplifies your finances and makes monthly payments more straightforward.

  • Lower interest rate: Debt consolidation loans often carry lower interest rates than credit cards or other types of loans. This could potentially save you a significant amount of money over the life of your loan.

  • Fixed repayment schedule: With a debt consolidation loan, you’ll know exactly when your debt will be paid off. The repayment schedule is fixed, which can provide a clear roadmap to becoming debt-free.

  • Lower monthly payments: Debt consolidation can help you secure lower monthly payments. This can be beneficial if you are on a tight budget.

  • Avoid late payment fees: It is easier to remember and plan for a single loan payment. This reduces the chance of missing a payment and being charged late fees.

  • Improved credit score: Debt consolidation can improve your credit score if managed correctly. This demonstrates that you are taking action to manage and reduce your debt. Over time, this may have a positive effect on your credit score.

  • Mental relief: Consolidating debt can reduce the stress and anxiety that comes with managing multiple debts, contributing to improved mental wellbeing.

4. Can I pay off my Nectar Money debt consolidation loan early?

Yes. There is no early repayment fee.

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