Yes Finance

Yes Finance eligibility and required documents

Yes Finance’s FAQ gives a minimum age of 18, while its qualifying page says applicants must be over 18; confirm directly if you are exactly 18. Applicants must have New Zealand citizenship, residency or a current work permit.

The lender assesses income consistency, employment and residential stability, existing expenses, credit history and any proposed security. Prepare current identification, such as a passport or driver’s licence, recent bank statements and accurate income, expense and debt details. Secured applications also require information about the asset and any finance already attached to it.

Unsecured eligibility is stricter: stable employment, sufficient income and no prior adverse credit history are specified. For other applications, past defaults require an acceptable explanation, and a guarantor may be requested. Security or a guarantor does not replace the affordability assessment.

Who should consider a Yes Finance personal loan?

Yes Finance may suit someone with a defined expense, consistent income and suitable collateral who wants their circumstances assessed individually. Its smaller unsecured option requires a clean credit history.

Compare the risk as well as the repayment. Pledging a car needed for work can make an otherwise manageable loan consequential if your income falls. Compare other personal loan options using the same cash advance and repayment period, including any extra cost of insuring the security.

For debt consolidation, check whether the new loan reduces the remaining total cost of your existing debts. A lower instalment achieved by extending repayment can cost more overall. If borrowing would cover a recurring budget shortfall, consider debt management support before adding another repayment.

How the Yes Finance application works

Application and assessment

1. Describe the borrowing: the official cash-loan application asks about the purpose, security and whether you are applying alone or with a partner.
2. Complete verification: provide the additional information requested for credit, identity and affordability checks. Read the lender’s privacy statement before supplying personal information.
3. Verify income: Yes Finance offers electronic bank-statement retrieval through illion. Its FAQ also permits emailed PDF statements, although manual processing may take longer.
4. Review the offer: check the cash you receive, amount financed, interest, fees, insurance, security and total payments before signing. Arrange repayments at the agreed weekly, fortnightly or monthly frequency.

Approval and funding times

The FAQ says most loans can be approved within one day. This is an approval estimate, not a commitment to deposit funds within 24 hours. Ask when payment can occur after verification, signing and any security or insurance requirements are satisfied.

Questions to ask before accepting an offer

• Which annual interest rate applies to my application, and is it fixed for the full term?
• How much cash will I receive, how much will be financed, and what is the total payable including separately charged fees?
• Which assets secure the loan? Does the security also cover earlier or future borrowing with Yes Finance, as contemplated by its sample agreement?
• What insurance is compulsory, what is optional, and will financed premiums attract interest?
• What would full settlement cost after six or twelve months, including administration and any loss-recovery charge?
• If a guarantor is required, what obligations and assets would that person expose?

Yes Finance advantages and limitations

• Individual assessment: the lender considers explanations for past credit problems on relevant applications, although its unsecured criteria exclude prior adverse credit history.
• Application assistance: telephone help and a manual bank-statement route are available.
• Limited unsecured borrowing: applicants needing more than $2,000 should expect to discuss security or compare another provider.
• Pricing inconsistencies: conflicting rate disclosures and older fees elsewhere on the website make headline comparisons unreliable.
• Costs beyond interest: administration, insurance and possible early-settlement charges can materially affect value, particularly on smaller loans.

Yes Finance interest rates, fees and total cost

Published interest rates do not agree

The official sources inspected contain these annual interest disclosures:

No effective dates establish which range supersedes the others. Obtain your rate in writing. These interest figures do not represent a verified fee-inclusive APR.

Published personal loan charges

The schedule effective 1 June 2026 lists:

Confirm which charges apply and whether they are financed or paid separately. The newer establishment fees differ from the $200 unsecured and $240 secured figures still displayed elsewhere on the website.

Small-loan cost check: a $150 establishment fee plus twelve $5 account fees totals $210 before interest or other charges. That equals 10.5% of a $2,000 advance; it is a partial fee illustration, not an APR or repayment quotation.

Required and optional insurance

The contract terms require insurance over collateral, including specified loss and damage risks. Ask whether existing cover meets those conditions and include any additional premium in your comparison.

Credit contract insurance is optional. If offered Janssen cover, its published policy wording excludes voluntary redundancy and expiry of a fixed-term employment contract from redundancy cover, and includes a 60-day initial stand-down period for that benefit. Confirm the actual policy, insured events, limits and exclusions offered to you. Request the loan cost with and without optional cover.

Early repayment and missed payments

The other-charges schedule lists a personal loan settlement administration fee of $100–$150 for settlement outside scheduled repayments, potentially plus a loss-recovery charge. The sample agreement instead specifies $100 administration for full prepayment. Obtain an itemised settlement figure for your contract.

The sample disclosure specifies 35% p.a. default interest on overdue payments, alongside default and enforcement charges. Some individual charges differ from the separate schedule, so confirm them in your agreement. Default on secured borrowing can lead to repossession and sale of pledged assets.

Published example: not a current quotation

Yes Finance’s personal loan page illustrates $3,000 borrowed over 24 months at 14.95% p.a., with total repayment of $3,775.30 including fees and interest but excluding insurance. It does not provide the repayment frequency and itemised fees needed to reconcile that total with the June 2026 schedule. Treat it as a published example requiring clarification, not a current cost estimate.

Is Yes Finance worth comparing?

Yes Finance’s strongest feature is the scope for individual assessment of secured applications. Its main limitation is that inconsistent public pricing leaves the true cost dependent on a written offer.

The decisive comparison is total repayment for the same cash advance and term, including required insurance and any planned early settlement. Any saving from secured borrowing should also justify the exposure of the asset you pledge.

Yes Finance personal loan FAQs

Can I borrow $25,000 without security?

No. Yes Finance advertises unsecured personal loans up to $2,000; its advertised secured range is $1,000–$25,000, subject to assessment. When comparing personal loan providers, distinguish between offers that require an asset and those that do not. A secured offer may expose your car or other pledged property to repossession if you default. Any interest saving should justify that additional risk and the associated insurance costs.

How should I compare Yes Finance’s price with another lender?

Request written quotations for the same cash advance and repayment period, because Yes Finance’s published interest-rate ranges conflict. Compare total payments, including charges paid separately. Under its June 2026 fee schedule, a $2,000 unsecured loan over twelve months would incur $150 establishment plus $60 in monthly account fees: $210 before interest and other applicable charges. That is a partial fee illustration, not an APR. Fixed charges can outweigh a modest interest-rate advantage on a small loan.

Can I qualify with bad credit if I provide security?

Yes Finance says it considers explanations for past credit problems, but this does not apply equally to every product. Its unsecured criteria require no prior adverse credit history. A secured application may be considered, and a guarantor may be requested, but acceptable security does not establish affordability or assure approval. When comparing borrowing options with impaired credit, check whether an offer requires your asset, another person’s guarantee, or both—not just whether the lender accepts applications.

Is insurance compulsory, and can I decline payment protection?

Collateral insurance and payment protection are separate. Yes Finance’s contract terms require insurance over pledged assets, while its credit contract insurance is optional. Ask whether your existing asset insurance meets the conditions and request quotations with and without optional cover. If a premium is added to the loan, check the interest charged on that premium too. Assess the actual policy’s employment conditions, waiting periods and exclusions before treating payment protection as useful cover.

Could early repayment charges cancel out an interest-rate saving?

They could, particularly if you expect to clear a small loan quickly. Yes Finance’s schedule lists a $100–$150 personal loan settlement administration fee, potentially plus a charge for financial loss; its sample agreement specifies $100 administration. Ask which applies to your contract and request an indicative settlement calculation for your expected repayment date. Compare the total paid up to settlement with another lender’s equivalent figure, rather than assuming the lowest annual rate produces the cheapest early exit.

Can someone with a work permit apply, and what should they confirm?

Yes Finance’s qualifying criteria include a current work permit alongside New Zealand citizenship and residency. This permits consideration; it does not establish acceptance for every visa type or employment arrangement. Before submitting applications to several lenders, ask whether your specific permit is accepted, how its remaining validity affects the loan term, and whether your employment meets the relevant product’s requirements. The unsecured option specifically requires stable employment and sufficient income.

Does 30-day pre-approval mean a 30-day loan or a fixed offer?

The 30 days refer to the validity of purchase pre-approval, not the repayment period. Yes Finance states that loan terms are generally one to three years. The validity period alone does not establish that every price or condition is locked in. Before paying a deposit, request written confirmation of the approved amount, interest rate, required security, expiry date and any conditions still outstanding.

What repayment support can I request if my circumstances change?

Contact Yes Finance promptly on 0508 10 50 10 or info@yesfinance.co.nz. Its sample agreement describes written hardship requests for a longer term, postponed payments, or both, subject to eligibility. Ask how any arrangement changes total interest, fees and the final repayment date; smaller instalments do not necessarily mean debt forgiveness or an interest pause. Independent debt management support can help you assess a proposal before accepting it.

Where can I challenge disputed fees or an unresolved complaint?

Send your complaint to complaints@yesfinance.co.nz or call Yes Finance. Identify the disputed charge or decision, attach the relevant quotation, agreement and correspondence, and state the resolution you want. Yes Finance identifies Financial Services Complaints Limited as its external dispute resolution scheme. If the lender’s response does not resolve the issue, contact FSCL on 0800 347 257 to discuss escalation; its consumer service is free.