When can I request a Top Up?

Anytime, provided your repayments are up to date. Log in to your account and select “Get Started”: https://www.nectar.co.nz/login

What happens to my existing loan if I Top Up or do a Flexi Drawdown?

Your old loan will be cancelled and the amount owing will be combined with the new amount into a new loan. This means you only need to manage one loan.

Will my repayment amount change with a Top Up or Flexi Drawdown?

Yes. Your new balance and term set your updated repayments. You can view repayment options in your Top Up application before deciding to proceed, or discuss them with our team. Nectar Money will send you a new electronic contract including the new loan terms. You will be obliged to pay further interest at the same annual fixed rate as your current loan because you are borrowing more. Please consider whether you are comfortable taking on this additional obligation.

How much can I borrow?

For a Flexi Drawdown, you can borrow up to the maximum you were originally approved for. For a Top Up, you can apply for up to $40,000 and your existing loan counts toward this amount. The minimum amount is $2,000.

Can I really draw down more within 60 days without reapplying?

Yes. If your original approval was for a higher limit, you can access the remainder within 60 days with no new application. You’ll need to confirm your financial situation hasn’t changed and that the new amount meets your objectives. Funds are typically paid the same business day you sign.

Do I pay the establishment fee again?

No additional establishment fees apply for a Flexi Drawdown. A standard establishment fee applies for a Top Up. See our Rates and Terms: https://www.nectar.co.nz/rates-and-terms

Can I repay early if I Top Up or draw down more?

Yes. Nectar has no early repayment fees.

Can I do more than one Flexi Drawdown?

You may complete only one Flexi Drawdown, and it must be made during the first 60 days after receiving your loan.

Credit Builder Loan | Nectar Money

Build Your Credit. Skip the Interest.

The Nectar Credit Builder Loan is a 6-month, interest-free way to grow your credit profile – without the stress.

What you get

Borrow $1,000

Repay over 6 months

Pay $0 in interest

Ideal if you’re building or improving your credit history. We report your on-time repayments to New Zealand’s major credit bureaus — so consistent, on-time payments can strengthen your credit profile over time.

Build my credit now

How it works

Apply online in minutes – no paperwork, no pressure.
Get set up with your $1,000, 6-month credit builder loan*.
Make on-time repayments. We report them to NZ credit bureaus to help grow your profile.

*Subject to responsible lending checks and credit criteria.

Build my credit now

Terms & Conditions

A standard $99 establishment fee applies.

An $1.75 admin fee per repayment applies.

Subject to responsible lending checks and credit criteria.

Credit Builder Loan — FAQs

1. What is the Nectar Credit Builder Loan?

It’s a 6-month, interest-free loan of $1,000 designed to help you build or improve your credit profile. We report your repayments to New Zealand’s major credit bureaus, so every on-time payment helps strengthen your credit history.

2. Who can apply?

Any New Zealand resident aged 18 or over with a regular income can apply, subject to Nectar’s responsible lending and credit checks.

3. How much does it cost?

There’s a one-off $99 establishment fee and a $1.75 admin fee per repayment. No interest is charged — ever.

4. How does it build my credit?

We report your repayment activity to the major NZ credit bureaus each month. Making consistent, on-time payments can boost your credit score, while missed payments may have the opposite effect.

5. Can I repay early?

Yes. You can repay your Credit Builder Loan early at any time without penalty. Early repayment won’t hurt your credit — it still demonstrates positive repayment behaviour.

6. What happens if I miss a repayment?

If you miss a repayment, it may negatively affect your credit score. Contact us early if you think you’ll have trouble making a payment — our team can help before it impacts your profile.

7. How do I apply?

Apply online in minutes — no paperwork, no pressure.

Build my credit now