Short-term Loans

A short-term loan online offers same-day approval for up to $20,000 at an affordable low-interest rate starting from 9.5% and a flexible repayment term of up to 24 months – to conveniently resolve your temporary financial situation.

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Short-term Loans NZ – Bad credit welome

Short-term loans are not only easy to qualify for but are also versatile. With minimal credit checks and easy loan requirements; you can have your loan transferred in no time at all.

Use the loan amount for just about anything from paying bills to taking a well-deserved vacation!

Frequently Asked Questions

Short-term loans are affordable, flexible, and easy to qualify for

Short-term loans are one of the most popular types of credit products in New Zealand. They include quick loans and payday loans and can be used for any urgent financial need from buying groceries to taking a small vacation.

There are many instances when we find ourselves in a desperate financial situation with empty pockets and little or options to help us remedy the situation. In such emergency situations, the best way out would be to get a short-term loan.

Quick and easy online loans

You can repay what you owe as soon as you get income. However, this option is not always the most suitable. It should not be considered as a way out every time you run out of money or cannot pay your bills. There are some risks attached to short-term loans.

Using such a credit product may actually put more burden on your finances instead of providing some kind of relief. Before you submit your loan application for a short-term loan, it is strongly recommended that you make yourself familiar with the basics.

That way, you will be able to make the correct decision based on your personal situation.

What are short-term loans?

Short-term loans are basically quick online loans, which are normally provided to individuals who need a temporary cash loan for paying their bills. The loans are only for short-term use.

No more than a few hundred dollars can be borrowed at one time. You will be expected to make the repayment after a few weeks. Some lenders may require you to leave a written check when you take out the money. The lender will cash the check once you have sufficient funds available to make the repayment.

In case you fail to repay the loan, you will have the option of rolling it over. Basically, the term of the loan will be extended so you will have more time for repaying it. But at the same time, the fee amount gets higher with the passage of time and the loan becomes even more expensive.

Do I need a perfect credit score?

No. You don't need a perfect credit score to apply for a short-term loan. Bad credit loans are available for consumers who might have a bad credit history or no credit score at all. The easy access comes at a price, however, when compared to other types of loans available on the market, short-term loans are found to be among the most expensive.

How much interest will I pay on a Short-term loan?

The annual percentage rate can be quite high. It can even reach several hundred percent in certain cases. For example, for borrowing NZ$100, you may expect to pay NZ$20 in the form of charges to the lender within 2 weeks. This means that you will be paying an annual percentage rate of 426% on your short-term loan.

There are many examples of debtors ending up paying more than 1,000% annual percentage rates on their loans. The most obvious and biggest demerit of these types of loans is that the cost of borrowing is quite high.

At the end of the day, your financial situation may actually worsen instead of showing any signs of improvement especially if you lag behind with your payments.

These loans are never a good option for individuals who do not have a steady source of income as they can reduce the amount of money available for spending even further. All lenders should comply with borrower's rights. However, it is equally important to borrow responsibly.

You may utilize this option once or twice when you need a loan on an urgent basis. However, it should never be incorporated into a long-term financial strategy. The rate of interest is often very high.

Short-term loan solutions for financial emergencies

Short-term loans might be considered feasible for dealing with temporary financial emergencies, but you should definitely not rely on them for long-term use.

Moreover, in case you do not have a steady source of income, there is always the chance that the checks you signed may bounce. This would not only ruin your credit rating, but your bank would impose further overdraft charges. However, sticking to your repayments will improve your overall credit report.

In the long run, the bank may refuse to provide any kind of cooperation. Debtors can take legal action should you default on your loan repayments.

Short-term bank loans in New Zealand

Over the past few years, more and more banks and other traditional financial institutions have been taking a greater interest in the short-term loan market. This is mainly because of the high level of profit that lenders are making in this niche. Traditional bank loans are always considered to be the most preferable option due to the lower cost of borrowing.

Short-term loans in NZ provided by banks are not in any way different from other kinds of short-term loans even though the names and terms and conditions may vary.

Moreover, under certain circumstances, the short-term loans provided by banks may actually the least favourable option. This is because the bank has access to your bank accounts and may pull out the funds as soon as they come in.

Risks associated with short-term loans

Short-term loans have a high degree of risk for obvious reasons especially if you are taking them from a bank.

1. While this option is always available, you should keep in mind that there are some alternatives which you can use as well. You should ensure that you always have an emergency fund in place. Still, this may be very difficult to achieve for those who are already in a dire situation.

2. Your credit score should be such that you will not face any trouble borrowing money from lenders.

3. It is always a good idea to have a credit card at hand.

4. An unsecured loan can always be availed from a bank or credit union. Lastly, you may consider renegotiating the repayment plans on your existing loans with the lenders to get more disposable income during the month. This is always suggested by financial experts.

Short-term loan advantages

If you make your payments on time, you will avoid all those extra charges and interest payments and keep your spending under control. Moreover, these loans are easy to get and provide quick relief from an impending financial emergency.

Short-term loan calculator

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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 Short-term loans

  1. Save My Bacon Short-term loan

    Save My Bacon

    • Loans up to $5,000
    • Term up to 52 weeks
    • Interest up to 49.95%
  2. Instant Finance Short-term loan

    Instant Finance

    • Loans up to $2,000
    • Term up to 3 years
    • Interest from 19.95%
  3. Finance Now Short-term loan

    Finance Now

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 12.95%
  4. Pretty Penny Loans Short-term loan

    Pretty Penny Lo...

    • Loans up to $500
    • Term up to 42 days
    • Low interest rate
  5. Super Loans Short-term loan

    Super Loans

    • Loans up to $5,000
    • Term up to 40 weeks
    • Interest up to 364%
  6. Cash Converters Short-term loan

    Cash Converters

    • Loans up to $3,000
    • Term up to 12 months
    • Interest up to 49.95%
  7. ANZ Short-term loan

    ANZ

    • Loans up to $50,000
    • Term up to 6 months
    • Interest from 12.90%
  8. Cash Point Short-term loan

    Cash Point

    • Loans up to $15,000
    • Term up to 36 weeks
    • Interest from 8.95%
  9. Loansmart Short-term loan

    Loansmart

    • Loans up to $100,000
    • Term up to 10 years
    • Interest from 8.95%
  10. Westpac Short-term loan

    Westpac

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 13.90%
  11. BNZ Short-term loan

    BNZ

    • Loans up to $30,000
    • Term up to 5 years
    • Interest from 17.85%
  12. Chequers Finance Short-term loan

    Chequers Financ...

    • Loans up to $1,500
    • Term up to 38 days
    • Easy online application
  13. Yes Finance Short-term loan

    Yes Finance

    • Loans up to $3,000
    • Term up to 48 months
    • Interest from 14.9%
  14. Ferratum Short-term loan

    Ferratum

    • Loans up to $3,500
    • Term up to 45 days
    • Interest up to 227%
  15. Pronto Finance Short-term loan

    Pronto Finance

    • Loans up to $20,000
    • Term up to 5 years
    • Interest up to 11.97%
  16. Cash Relief Short-term loan

    Cash Relief

    • Loans up to $600
    • Term up to 6 weeks
    • Interest from 0.68%
  17. Blue Sky Finance Short-term loan

    Blue Sky Financ...

    • Loans up to $50,000
    • Term up to 5 years
    • Interest up to 9.95%
  18. The Little Loan Shop Short-term loan

    The Little Loan...

    • Loans up to $1,000
    • Term up to 6 weeks
    • Interest from 0.68%
  19. Rapid Loans Short-term loan

    Rapid Loans

    • Loans up to $10,000
    • Term up to 36 months
    • Interest from 39%
  20. Advantage Finance Short-term loan

    Advantage Finan...

    • Loans up to $1,000,000
    • Term up to 6 years
    • Interest from 9.75%
  21. The Lending Room Short-term loan

    The Lending Roo...

    • Loans up to $2,500
    • Term up to 6 months
    • Interest from 14.99%
  22. Just Cash Short-term loan

    Just Cash

    • Loans up to $3,500
    • Term up to 45 days
    • Interest up to 227%
  23. CantWait.com Short-term loan

    CantWait.com

    • Loans up to $500
    • Term up to 10 weeks
    • Interest from 33.99%
  24. SMARTCASH NZ Short-term loan

    SMARTCASH NZ

    • Loans up to $500
    • Term up to 32 days
    • Interest up to 361.35%
  25. Quick Cash Finance  Short-term loan

    Quick Cash Fina...

    • Loans up to $50,000
    • Term up to 156 weeks
    • Interest from 18%
  26. Seedcash Short-term loan

    Seedcash

    • Loans up to $5,000
    • Term up to 28 weeks
    • Interest from 14%
  27. The Money Man Short-term loan

    The Money Man

    • Loans up to $50,000
    • Term up to 1 year
    • Interest from 13.95%
  28. MyFinance Short-term loan

    MyFinance

    • Loans up to $30,000
    • Term up to 5 years
    • Interest from 20.89%
  29. LastMinuteLoan Short-term loan

    LastMinuteLoan

    • Loans up to $3,000
    • Term up to 6 months
    • Interest from 48%
  30. Loan Direct Short-term loan

    Loan Direct

    • Loans up to $3,000
    • Term up to 60 months
    • Interest from 13.95%
  31. My New Zealand Payday Short-term loan

    My New Zealand ...

    • Loans up to $1,000
    • Term up to 6 months
    • Interest from 14.95%
  32. NZ Loans 2 Go Short-term loan

    NZ Loans 2 Go

    • Loans up to $5,000
    • Term up to 24 months
    • Interest from 15.90%
  33. Simple Cash Short-term loan

    Simple Cash

    • Loans up to $3,500
    • Term up to 45 days
    • Interest up to 227%
  34. Northbridge Finance  Short-term loan

    Northbridge Fin...

    • Loans up to $5,000
    • Term up to 5 years
    • Interest from 29.95%
  35. 247 Moneybox Short-term loan

    247 Moneybox

    • Loans up to $40,000
    • Term up to 6 months
    • Interest from 13.95%
  36. Dorchester Finance Short-term loan

    Dorchester Fina...

    • Loans up to $30,000
    • Term up to 60 months
    • Interest from 15.95%
  37. Finance District Short-term loan

    Finance Distric...

    • Loans up to $15,000
    • Term up to 48 months
    • Interest from 18.95%
  38. No Credit Check Short-term loan

    No Credit Check

    • Loans up to $5,000
    • Term up to 52 weeks
    • Interest from 49.95%
  39. Pay Today  Short-term loan

    Pay Today

    • Loans up to $5,000
    • Term up to 16 weeks
    • Interest from 365%
  40. Finance Loans Short-term loan

    Finance Loans

    • Loans up to $5,000
    • Term up to 12 months
    • Interest from 12.95%
  41. The Personal Loan Store Short-term loan

    The Personal Lo...

    • Loans up to $10,000
    • Term up to 36 months
    • Interest up to 47.7%
  42. Loanplus Short-term loan

    Loanplus

    • Loans up to $2,000
    • Term up to 7 weeks
  43. Cash4u Short-term loan

    Cash4u

    • Loans up to $1,000
    • Term up to 2 weeks
    • Interest from 30%
  44. Quick Loans Bad Credit  Short-term loan

    Quick Loans Bad...

    • Loans up to $50,000
    • Term up to 156 weeks
    • Interest from 18%
  45. Plej Short-term loan

    Plej

    • Loans up to $20,000
    • Term up to 6 months
    • Interest from 5%
  46. Direct Finance Loans Short-term loan

    Direct Finance ...

    • Loans up to $5,000
    • Term up to 16 weeks
  47. First Choice Finance Short-term loan
  48. handyCASH Short-term loan

    handyCASH

    • Loans up to $1,500
    • Term up to 38 days
  49. Digital Finance Short-term loan

    Digital Finance

    • Loans up to $20,000
    • Term up to 60 months
    • Interest from 12.95%
  50. Cash in a Flash Short-term loan

    Cash in a Flash

    • Loans up to $1,000
    • Term up to 6 weeks
    • Interest from 14%
  51. Morgan Finance Short-term loan

    Morgan Finance

    • Loans up to $10,000
    • Term up to 12 months
  52. NZ Credit & Loans  Short-term loan

    NZ Credit & Loa...

    • Loans up to $30,000
    • Term up to 60 months
    • Interest from 15.95%
  53. Teleloans Short-term loan

    Teleloans

    • Loans up to $5,000
    • Term up to 30 days
  54. Cash Train Short-term loan

    Cash Train

    • Loans up to $1,500
    • Term up to 38 days
    • Interest up to 365.2%