Nectar Money uses personalised, risk-based pricing. That means your interest rate is based on your credit profile, financial information, income, borrowing capacity, and responsible lending assessment.
Our unsecured personal loan rates currently range from 9.95% to 29.95% p.a. To make this easier to understand, we group our rates into three broad credit profiles: Strong Credit, Good Credit, and Rebuilding Credit.
| Nectar credit profile | Indicative unsecured personal loan rate |
|---|---|
| Strong Credit | 9.95% – 16.95% p.a. |
| Good Credit | 16.95% – 22.95% p.a. |
| Rebuilding Credit | 24.95% – 29.95% p.a. |
Your actual rate is personalised and shown before you choose whether to accept a loan offer. Lending is subject to Nectar’s credit criteria, affordability assessment, and responsible lending checks. Fees apply.
Different borrowers have different credit profiles. A borrower with a long record of on-time repayments, stable income, and strong borrowing capacity may qualify for a lower interest rate than someone with a more limited credit history or previous credit challenges.
Nectar’s personalised pricing helps us offer low, competitive rates to strong-credit borrowers while still considering applications from a wider range of New Zealanders.
These profiles are a guide only. Nectar assesses each application individually. Your final rate may depend on your credit score and history, financial information including income, expenses, existing debts, borrowing capacity, and responsible lending assessment.
| Rate profile | Indicative rate range | Who this may suit |
|---|---|---|
| Strong Credit | 9.95% – 16.95% p.a. | For borrowers with excellent or very strong credit score and history, stable/good income, and strong borrowing capacity. |
| Good Credit | 16.95% – 22.95% p.a. | For borrowers with average-to-good credit scores and history, stable/good income, and borrowing capacity. |
| Rebuilding Credit | 24.95% – 29.95% p.a. | For borrowers with more limited credit history or scores, or previous credit challenges, who meet Nectar’s affordability and responsible lending checks. |
Strong Credit rates are designed for borrowers with excellent or very strong credit score and history, stable/good income, and strong borrowing capacity.
Borrowers in this profile often have a strong record of meeting repayment commitments, manageable existing debts, and a stable living situation. This may include homeowners, although Nectar unsecured personal loans do not require property or vehicle security.
| Factor | What it means |
|---|---|
| Excellent or very strong credit score and history | A strong record of managing credit and making repayments on time. |
| Stable/good income | Secure strong employment |
| Strong borrowing capacity | Have strong surplus income after meeting expenses and debt repayments. |
| Stable living situation | May include homeowners or borrowers with long-term residential stability. |
Good Credit rates are for borrowers with average-to-good credit scores and history, stable/good income, and borrowing capacity.
This profile may suit borrowers who have generally positive credit conduct and can comfortably afford the repayments, even if they do not meet the very strongest credit profile.
| Factor | What it means |
|---|---|
| Average-to-good credit score and history | A generally positive credit profile, with no major unresolved issues. |
| Stable/good income | Income that supports the loan repayments. |
Rebuilding Credit rates are for borrowers with more limited credit history or scores, or previous credit challenges, who still meet Nectar’s affordability and responsible lending checks.
This profile reflects Nectar’s commitment to considering a wider range of borrowers. A past credit challenge does not automatically mean someone cannot be considered, but any loan must still be affordable, suitable, and responsibly assessed.
| Factor | What it means |
|---|---|
| Limited credit history or score | The borrower may have less credit information available for assessment and/or lower credit scores. |
| Previous credit challenges | The borrower may have had missed payments, defaults, or other past issues. |
| Affordability and responsible lending checks | Nectar still needs to be satisfied the loan is affordable and suitable. |
Some lenders focus mainly on borrowers with the strongest credit profiles. Nectar takes a broader approach.
Our full unsecured personal loan rate range of 9.95% to 29.95% p.a. reflects the fact that we consider applications from borrowers with different credit backgrounds. Strong-credit borrowers may qualify for our most competitive rates, while borrowers with more limited credit history or previous credit challenges may still be considered where the loan is affordable and suitable.
This approach supports financial inclusion by giving more New Zealanders the opportunity to check whether a responsible loan option may be available.
Some of the factors Nectar considers in assessing your interest rate are listed below.
| Factor | Explanation |
|---|---|
| Credit score | A stronger credit score may help you qualify for a lower rate. |
| Credit history | Your repayment history and past credit conduct help us understand how you have managed credit. |
| Income/Employment Stability | Stable/good income. |
| Borrowing capacity | Strong surplus income after meeting your expense and debt commitments are viewed positively. |
| Responsible lending assessment | Nectar checks that the loan is suitable and affordable before making an offer. |
Nectar personal loans are unsecured, which means borrowers do not need to use their house, car, or another asset as security for the loan.
Homeownership or a stable living situation may be relevant to a borrower’s overall profile, but Nectar unsecured personal loans are not secured against the borrower’s home.
Nectar Money’s unsecured personal loan rates currently start from 9.95% p.a. Strong Credit borrowers may qualify for rates from 9.95% to 16.95% p.a., subject to credit criteria, affordability, and responsible lending checks.
Strong Credit rates are for borrowers with excellent or very strong credit score and history, stable/good income, strong borrowing capacity, and a stable living situation. This may include homeowners, but Nectar unsecured personal loans do not require property security.
Good Credit rates currently range from 16.95% to 22.95% p.a. This profile is for borrowers with average-to-good credit scores and history and a stable/good income.
Rebuilding Credit rates currently range from 24.95% to 29.95% p.a. This profile is for borrowers with more limited credit history or scores, or previous credit challenges, who meet Nectar’s affordability and responsible lending checks.
Nectar’s full rate range is broad because we consider borrowers with different credit profiles. The upper part of the range may apply to borrowers with more limited credit history or previous credit challenges, where Nectar can still responsibly offer a loan.
Yes. Nectar uses personalised, risk-based pricing. This means your rate is based on your credit score and history, financial situation including income and expenses, existing debts, borrowing capacity, and responsible lending assessment.
No. Nectar unsecured personal loans do not require property or vehicle security. Homeownership or a stable living situation may be relevant to a borrower’s overall profile, but the loan is not secured against your home.
Yes. Your personalised rate should be shown before you decide whether to accept a loan offer.
* Nectar Money offers competitive unsecured personal loan rates with fixed interest rates from 9.95% to 29.95% p.a., based on your credit profile. A $240 establishment fee and $1.75 administration fee per repayment apply. Strong Credit borrowers may qualify for low, competitive rates from 9.95% to 16.95% p.a.; Good Credit borrowers may qualify for rates from 16.95% to 22.95% p.a.; and Fair or Developing Credit borrowers may qualify for rates from 24.95% to 29.95% p.a. The broad range helps Nectar offer low interest rates to borrowers with excellent credit, while also providing loan options for more New Zealanders, including borrowers with fair or developing credit profiles. Learn more here.
All loans are subject to responsible lending checks and standard borrowing criteria. Please see our privacy policy and rates and terms, or visit our FAQs for the most up to date information. This publication is provided for general information purposes only and does not constitute legal, tax, financial, or other professional advice from Nectar Money. It is not intended as a substitute for obtaining advice from a financial adviser or any other qualified professional. We make no representations, warranties, or guarantees, whether express or implied, that the content in this publication is accurate, complete, or up to date.
