Unsecured Loans

1. What is an unsecured loan?

An unsecured loan lets you borrow without using an asset (like a car or home) as collateral. You’ll make fixed repayments over a set term, and your offer is based on your credit profile and affordability.

See more: What types of debt should be avoided?

2. How is an unsecured loan different from a secured loan?

Secured loans use an asset as security and may suit larger amounts for eligible borrowers; unsecured loans don’t require collateral, keeping things simple and fast. Choose based on your needs, budget and risk tolerance.

Compare options: A smarter secured loan option (how it works)

3. How much can I borrow and for how long?

You can apply to borrow $2,000–$40,000 with terms from 6 months to 5 years, subject to lending criteria and affordability checks. Pick weekly, fortnightly or monthly repayments to match your pay cycle.

4. What interest rates and fees apply?

Personalised fixed interest rates currently range from 11.95% p.a. to 29.95% p.a. Standard fees include a $240 establishment fee and a $1.75 administration fee per repayment. There are no early repayment penalties.

See details: Rates & Terms

5. How fast can I get the money?

The online application takes about 7 minutes. If approved and documents are signed, funds are typically paid the same day during processing hours.

Helpful read: Choosing the right consolidation loan

6. What can I use an unsecured loan for?

Common uses include consolidating higher-cost debt, car expenses, moving costs, weddings, travel, medical or vet bills, and home essentials. Build a realistic budget before you apply.

Ideas & tips: Personal loans for renters in NZ

7. Do I qualify?

As a guide, applicants are typically 18+, a NZ citizen or permanent resident, have a regular NZ income (around $350+/week after tax), and no serious bad debts or payment defaults. All applications are subject to responsible lending checks.

8. Will applying affect my credit score?

We may run a credit check as part of responsible lending. Checking your own score is a soft inquiry and doesn’t affect it. Making on-time repayments can help improve your score over time.

Learn more: Understanding your credit score in NZ

9. Is an unsecured loan good for debt consolidation?

Often, yes. Replacing multiple higher-cost debts with one fixed-rate loan can simplify repayments and may reduce interest. Compare total costs and avoid borrowing more than you need.

Guide: How to choose a consolidation loan

10. Can I repay early or make extra repayments?

Yes. You can make extra repayments or settle early with no early repayment fees. Paying off your balance sooner reduces the total interest you pay.

Smart borrowing: Debts to avoid (and why)

11. What documents do I need?

Have your NZ driver licence or passport, internet banking access, and details about your employment, income and expenses. Providing complete information speeds up assessment and funding.

12. How do I keep repayments affordable?

Choose a term and frequency that fit your cash flow, set up automatic payments, and consider small extra repayments when possible. If your situation changes, contact us early.

Also useful: Credit score tips that can help with future borrowing