Personal Loans

A personal loan offers quick approval for up to $75,000 at a low-interest rate starting from 5.65% and a repayment term of up to 6 years – finance your lifestyle with flexibility, affordability, and convenience.

View Personal loan Offers
personal loans
Rating based on 10 reviews

Low-interest Personal Loans Online in NZ – Bad credit welcome

If you're looking for a lender that doesn't base their decisions on credit history alone and provides quick approval and same-day loan transfers, we've got you covered!

It takes only a few minutes to apply and you get to choose from hundreds of personal loan offers.

Frequently Asked Questions

Is it easy to get a personal loan?

If you're looking for an online loan you're probably going to end up getting it in the form of a personal loan, which is relatively easy to apply for.

These versatile loans encompass a wide range of finance types and can be used for anything from buying your dream car to paying off an overdue bill.

What can I use a personal loan for?

From buying a vehicle, purchasing your dream wedding dress, and upgrading your home to covering travel expenses, paying overdue bills, and buying groceries when there’s simply too much month at the end of your money – a personal loan can help you achieve your goals or help you get by during difficult times.

How much can I borrow with a personal loan?

They can be as small as a payday loan of just a few dollars or as large as a car loan, which can go up to hundreds of thousands of dollars. LoansFinder is dedicated to helping you find out what loan providers have to offer, what type of loan is right for you, and how you can use credit to your advantage.

If you're ready to find a lender that matches your needs and financial circumstances then you're in the right place because LoansFinder was designed with this exact purpose in mind.

Below this article, you will find a grid that includes a range of personal loan nz providers. You can click on each lender and read more about them and the products and services which they offer to assist you in selecting the most appropriate lender for your needs.

How to find a Personal loan online?

The best way to find a loan quickly and easily is to work with an online lender. Most lenders offer quick loans online that do not differ from the traditional ones offered by storefront lenders.

In fact, many lenders that started as storefront lenders now operate online in an attempt to stay competitive and provide even faster and more convenient service to their clients.

Always ensure that you borrow responsibly to avoid any financial difficulty.

Which bank is best for a Personal loan?

By making use of this site you will find complete information on New Zealand's top lenders and their loan products including interest rates, fees, and terms and conditions. Registered online lenders and particularity, those which we have listed below can be trusted, as they are registered and have been approved as compliant sources of finance.

A compliant lender is simply one who has shown to adhere fully to the rules and regulations that all lenders must abide by in New Zealand as per the latest lending code guidelines NZ.

Am I eligible for a personal loan?

Registered lenders are legally required to grant personal loans only to applicants who have sufficient disposable income to repay them. In order to assess the applicant's affordability, the lender takes into account the person's gross, net and disposable income.

If you earn a high salary, but you have several active loans, you will have a smaller disposable income and your chances of approval will be lower. That is why lenders look into the whole picture.

Each lender sets the income requirements for personal loan approval individually. These requirements are not regulated by the Credit Contracts & Consumer Finance Act (2003). Similarly, it is the responsibility of the borrower to calculate the affordability of the loan before accepting an offer.

When you apply for a loan, the lender will perform a credit check in addition to an income assessment. If you have a clean credit record, you will have the best chances of getting approved. That is why it pays off to be a responsible payee and to keep a check on your credit record to ensure that errors are corrected.

How to get your loan approved, fast?

When taking out an online loan you will typically have to fill out, and submit, an online loan application form as found on the website of the particular lender. The lender will then use your personal data to ensure you qualify for a loan.

To qualify for a loan you would typically have to show the lender that you are earning a stable income, are an NZ resident, are over the age of 18. Additionally, you should have no excessive debt, and that you are not bankrupt or in financial distress.

After you fill out and sign the necessary documents, you can fax your supporting documents or scan them and send them via email. If you qualify for a short-term loan or personal loan of any form, you will be sent a set of documents that will include a loan agreement.

You will have to read this document and sign and submit it for your loan to be credited. A quick loan is typically wired to your bank account upon the receipt of the signed loan contract but can take anything up to 24 hours depending on the loan amount and the bank with which you bank.

Finding the right personal loan

When searching for a loan provider easy access and speed are important benefits to have, but you have to look into the features closely to ensure that they match your needs and ability to repay. The first feature to pay attention to is the interest rate. Loans with a shorter-term typically have higher interest rates.

Fees add to the cost of borrowing as well and unless you are taking into consideration the APR or, Annual Percentage Rate of the loan these fees will not be included in the cost of the loan. You have to calculate the total cost of the loan given all interest and fee charges to ensure that you will be able to repay it.

Loans & consumer finance protection

In New Zealand, the rights of consumers taking out loans are protected by the Credit Contracts and Consumer Finance Act 2003. The Act does not set interest rate limits but determines the methods that lenders are allowed to use to calculate the rates. Lenders are also required to disclose the terms and conditions of their loans fully and clearly.

Budgeting for loan repayment

You should prepare a monthly budget based on your income and expenses that include the loan payments. You should do your best not to overspend, especially on things that you do not actually need, and instead, you should set aside an emergency fund to get you through at least 6 months without your typical income.

What is the best option for a Personal loan?

The personal loans on offer in New Zealand can be classified into two types depending on their term. The different terms correspond to different loan amounts and repayment structures. Let's take a closer look at the two main types of loans.

Short & mid-term personal loans

These loans can have a term of between 30 days and 10 years. Quick loans, payday loans, and car loans belong to this group. Credit cards and overdrafts fall into this term category as well, even though they are not loans but lines of credit.

With a short or mid-term loan, you can typically borrow between NZ$100 and NZ$30,000. You may be able to borrow more as well. It all depends on your income and on your ability to repay the loan. Most short and mid-term loans are unsecured and as a result, the lender assumes a higher risk and charges a higher interest rate. Personal loans for bad credit carry the highest interest rates.

The lender takes into account the credit report of the applicant when determining the interest rate as well. Riskier borrowers also have to pay higher interest. Personal loan interest rates vary according to your personal eligibility criteria.

Long-term personal loans

Long-term loans have repayment terms that exceed 10 years. Most of these loans are for large amounts. They are typically secured against an asset and this asset is usually the house of the borrower. They commonly include home loans, home equity loans, and debt consolidation loans.

Overall, unsecured personal loans are useful for dealing with cash emergencies and for financing small purchases and projects. They are easy to get especially for people with high disposable income and good credit history. They should not be used to repay other loans because they have a higher interest rate than their secured counterparts.

Secured loans on the other hand can be both of a short and long-term nature but, are typically used for long-term loans of large amounts. If you have debt repayment problems it is best to avoid trying to use a personal loan to repay debts, but rather you should use debt counselling and debt consolidation as primary options.

Personal loan calculator

$
The interest rate of a loan will vary based on your credit score and risk profile.
This loan calculator is for illustration purposes only.
The use of this quick loans calculator is subject to our terms of use.

List of direct lenders offering Personal loans

  1. Finance Now Personal loan

    Finance Now

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 12.95%
  2. First Credit Union Personal loan

    First Credit Un...

    • Loans up to $10,000
    • Term up to 33 months
    • Interest from 9.95%
  3. Harmoney Personal loan

    Harmoney

    • Loans up to $70,000
    • Term up to 5 years
    • Interest from 6.99%
  4. NZCU South Personal loan

    NZCU South

    • Loans up to $50,000
    • Term up to 60 months
    • Interest from 9.95%
  5. NZCU Baywide Personal loan

    NZCU Baywide

    • Loans up to $60,000
    • Term up to 7 years
    • Interest from 9.99%
  6. Oxford Finance Personal loan

    Oxford Finance

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 9.955%
  7. ANZ Personal loan

    ANZ

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 12.90%
  8. Cash Converters Personal loan

    Cash Converters

    • Loans up to $20,000
    • Term up to 3 month
    • Interest from 10%
  9. Geneva Finance Personal loan

    Geneva Finance

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 11.95%
  10. Squirrel Money Personal loan

    Squirrel Money

    • Loans up to $20,000
    • Term up to 3 years
    • Interest from 8.95%
  11. ASB Personal loan

    ASB

    • Loans up to $40,000
    • Term up to 7 years
    • Interest from 12.95%
  12. BNZ Personal loan

    BNZ

    • Loans up to $30,000
    • Term up to 5 years
    • Interest from 17.85%
  13. Kiwibank Personal loan

    Kiwibank

    • Loans up to $6,000
    • Term up to 4 years
    • Interest from 13.95%
  14. Westpac Personal loan

    Westpac

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 13.95%
  15. The Lending People Personal loan

    The Lending Peo...

    • Loans up to $75,000
    • Term up to 7 years
    • Interest from 8.95%
  16. Nectar Personal loan

    Nectar

    • Loans up to $30,000
    • Term up to 4 years
    • Interest from 8.95%
  17. Loansmart Personal loan

    Loansmart

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 13.95%
  18. MoneyShop Personal loan

    MoneyShop

    • Loans up to $20,000
    • Term up to 7 years
    • Interest from 29.95%
  19. Max Loans Personal loan

    Max Loans

    • Loans up to $50,000
    • Term up to 60 months
    • Interest from 9.95%
  20. Future Finance Personal loan

    Future Finance

    • Loans up to $80,000
    • Term up to 5 years
    • Interest from 10.93%
  21. Yes Finance Personal loan

    Yes Finance

    • Loans up to $25,000
    • Term up to 48 months
    • Interest from 14.9%
  22. Alternate Finance Personal loan

    Alternate Finan...

    • Loans up to $15,000
    • Term up to 3 years
    • Interest from 13.95%
  23. Pioneer Finance Personal loan

    Pioneer Finance

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 14.95%
  24. Pronto Finance Personal loan

    Pronto Finance

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 11.97%
  25. Active Finance Personal loan

    Active Finance

    • Loans up to $10,000
    • Term up to 5 years
    • Interest from 10.95%
  26. Admiral Finance Personal loan

    Admiral Finance

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 13.95%
  27. Loan Direct Personal loan

    Loan Direct

    • Loans up to $200,000
    • Term up to 60 months
    • Interest from 27.5%
  28. QuickCash Finance Personal loan

    QuickCash Finan...

    • Loans up to $10,000
    • Term up to 156 weeks
    • Interest from 12.5%
  29. Rapid Loans Personal loan

    Rapid Loans

    • Loans up to $10,000
    • Term up to 48 months
    • Interest from 39%
  30. The Lending Room Personal loan

    The Lending Roo...

    • Loans up to $25,000
    • Term up to 5 years
    • Interest from 14.99%
  31. Zealy Personal loan

    Zealy

    • Loans up to $5,000
    • Term up to 7 years
    • Interest from 12.99%
  32. Loans 2 Go Personal loan

    Loans 2 Go

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 14.95%
  33. Interest.co.nz Personal loan

    Interest.co.nz

    • Loans up to $2,000,000
    • Term up to 30 years
    • Interest from 0.5%
  34. NZ Credit & Loans Personal loan

    NZ Credit & Loa...

    • Loans up to $30,000
    • Term up to 60 months
    • Interest from 15.95%
  35. Finance.co.nz Personal loan

    Finance.co.nz

    • Loans up to $200,000
    • Term up to 5 years
    • Interest from 6.99%
  36. Grab a Loan Personal loan

    Grab a Loan

    • Loans up to $2,000
    • Term up to 18 months
    • Interest from 9.95%
  37. Finance District Personal loan

    Finance Distric...

    • Loans up to $25,000
    • Term up to 5 years
    • Interest from 10.95%
  38. Budget Loans Personal loan

    Budget Loans

    • Loans up to $250,000
    • Term up to 60 months
    • Interest from 15%
  39. Morgan Finance Personal loan

    Morgan Finance

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 14.95%
  40. Frontier Finance Personal loan

    Frontier Financ...

    • Loans up to $1,000,000
    • Term up to 5 years
    • Interest from 13.95%
  41. NZ Personal Loans Personal loan

    NZ Personal Loa...

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 13.95%
  42. Loanplus Personal loan

    Loanplus

    • Loans up to $5,000
    • Term up to 16 weeks
    • Interest from 22.95%
  43. Sprint Finance Personal loan

    Sprint Finance

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 6.99%
  44. Speedy Loans Personal loan

    Speedy Loans

    • Loans up to $100,000
    • Term up to 60 months
    • Interest from 13.95%
  45. Loans4you Personal loan

    Loans4you

    • Loans up to $20,000
    • Term up to 24 months
    • Interest from 12.95%
  46. Finance Point Personal loan

    Finance Point

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 12.95%
  47. Central Finance Loans Personal loan

    Central Finance...

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 12.95%
  48. NZ Loan Co Personal loan

    NZ Loan Co

    • Loans up to $10,000
    • Term up to 156 weeks
    • Interest from 18%