0800 855 888Rates and Terms
Up-front rates with no hidden fees
At Nectar Money, there are no hidden fees or charges. You can check your rate and loan offer free of charge.
All loans feature an affordable fixed interest rate meaning your interest rate and repayments stay the same over the life of the loan.
You can choose between repayment terms of 6 months to 5 years customised to meet your affordability. Repayments are made weekly, fortnightly or monthly depending on your pay cycle. Plus, you can repay your loan in full at any time to eliminate future interest payments; there's never a prepayment penalty or fee.
Interest rates and fees
Nectar Money offers competitive personal loan rates with fixed interest rates from 7.95% to 29.95% p.a., based on your credit profile. Strong Credit borrowers may qualify for low, competitive rates from 7.95% to 11.95% p.a.; Good Credit borrowers may qualify for rates from 14.95% 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.
You pay a one time establishment fee of $240
An administration fee of $1.75 is payable per repayment to cover the costs incurred in processing and monitoring repayments.
Other possible fees
Dishonour fee
If a direct debit, or any other payment, is not paid on the due date, a dishonour fee of $15 is charged to cover the cost Nectar Money incurs on the transaction.
Overdue fee
If you fail to make a timely payment within 5 days of the due date, you agree to pay an overdue payment fee of $25 per month. This will be due on your next payment date.
Loan variation fee
If you require any of the terms of your loan to be changed, and we agree to the changes, we will charge a loan variation fee of $30.
