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.

Build my credit now

Overview

What you get

Borrow $1,000

Repay over 6 months

Pay $0 in interest

We report your repayments to New Zealand’s major credit bureaus every month — consistent on-time payments help strengthen your credit profile.

Simple three-step process

How it works

Apply online in minutes. No paperwork, no pressure.
Get set up with your $1,000 loan. We confirm your approval and repayment schedule.
Make on-time repayments. We report them to NZ credit bureaus to help grow your profile.

*Subject to responsible lending checks and credit criteria.

Key costs

Terms & Conditions

$99 establishment fee

$1.75 admin fee per repayment

Available to first time Nectar customers only.

Subject to responsible lending checks.

Answers at a glance

Credit Builder Loan — FAQs

1. What is the Nectar Credit Builder Loan?

It’s a 6-month, interest-free loan designed to help you build or improve your credit profile.

2. Who can apply?

NZ residents aged 18 or over with a regular income.

3. How much does it cost?

$99 establishment fee + $1.75 admin fee per repayment. Zero interest.

4. How does it build my credit?

We report your repayment activity monthly to NZ credit bureaus.

5. Can I repay early?

Yes — no penalty.

6. What happens if I miss a repayment?

It may negatively impact your credit score.

7. How do I apply?

Apply online in minutes — no paperwork.

Build my credit now