Finance Now

Finance Now eligibility and required documents

Finance Now’s published requirements include:

• Being at least 18 and a New Zealand citizen or permanent resident currently living in New Zealand.
• Providing valid identification, income details and employment information.
• Demonstrating capacity to repay alongside existing commitments and living costs.
• Meeting its credit criteria, including no recent payment or loan defaults to other financial institutions.

The lender verifies income, residential address and credit history, and values security where relevant. Self-employed applicants can apply with evidence of business income. Its privacy policy explains that information may be obtained from and shared with credit reporting agencies. Meeting the initial requirements does not establish approval.

When a shorter Finance Now loan may suit

This option may suit someone with reliable repayment capacity who needs a defined amount for an essential expense and can repay it over six months or longer. Its secured and unsecured options allow a comparison between borrowing cost and the consequences of pledging an asset.

Reconsider if you need only a few hundred dollars, expect to repay within weeks, or regularly borrow to cover essentials. Compare other short-term borrowing options, an agreed bill-payment arrangement and your bank’s available facilities. Where the problem is an ongoing budget shortfall, debt-management support may be more useful than another repayment commitment.

How the application and repayment process works

Application and assessment

Start through the application link on Finance Now’s personal loan page. Provide your requested amount, financial circumstances and identification. The lender may contact you to verify information or request further documents.

If approved, check the disclosure statement for the cash advanced, amount financed, fixed rate, fees, repayment schedule and total payable before signing. Repayments can be made by direct debit, automatic payment or online banking.

Approval and funding times

Finance Now says funds can arrive within 24 hours after approval and receipt of the required documents. Its product page also describes possible same-day funding after signing. These are conditional timings, not a firm deadline from the moment you apply.

Contact, repayment support and complaints

For general loan enquiries, call 0800 40 50 70. If repayments become difficult, contact the Credit Solutions team on 0800 654 377 promptly. A hardship request does not itself change your payment obligations.

Complaints can be sent to complaints@financenow.co.nz. Finance Now’s complaints process provides access to the free Insurance and Financial Services Ombudsman service if the issue remains unresolved.

Questions to ask before accepting an offer

• How much cash will I receive, and how much will I owe after fees and any insurance are added?
• What is my fixed rate, regular repayment and total amount payable over the shortest affordable term?
• Is security required, which assets are covered, and what insurance must I maintain?
• If I repay after one, three or six months, how will the settlement amount and any early termination charge be calculated?
• What happens if a payment fails, and what support is available if my income falls?

Finance Now advantages and limitations

• Defined repayment period: A six-month option provides a relatively short contractual term without relying on early settlement.
• Choice of security: Secured and unsecured lending is available, subject to assessment; offering security may improve the rate or available amount.
• Small-loan cost: The establishment fee remains NZ$215 even when borrowing the minimum amount.
• Exit costs and asset risk: Early repayment may attract charges, and default on secured borrowing can lead to repossession.
• Credit restrictions: The published criteria do not support presenting this as a straightforward option for borrowers with recent defaults.

Finance Now interest, fees and total borrowing cost

Personalised fixed interest

The current pricing page advertises 8.25%–29.95% p.a. for both secured and unsecured personal loans until 14 January 2027. It states that the minimum increases to 8.45% for applications received afterwards. Some generic product text still shows 8.45%; the expressly dated promotion lists 8.25%. Confirm the rate offered to you.

Interest is calculated daily on the unpaid balance and charged monthly. The annual interest rate does not include every borrowing cost, so compare total repayments as well as the rate.

Standard and conditional charges

• Establishment: NZ$215.
• Monthly servicing: NZ$2.50.
• Security registration: NZ$7.90 Personal Property Securities Register fee where applicable.
• Other conditional charges: NZ$95 loan variation; NZ$3.50 third-party correspondence or statement requests; NZ$10 administration charge for third-party costs; and an overpayment refund charge of the lesser of NZ$10 or the account balance.
• Payment default: NZ$5 dishonoured-payment fee and NZ$10 per written correspondence. The disclosed default interest rate is the higher of 28% p.a. or your contractual rate plus five percentage points, applied to overdue amounts under the terms.

The repayment guidance permits extra payments but warns that settling early may incur a charge. Obtain a dated settlement quotation rather than treating your displayed balance as the final payoff amount.

Optional PPI and required asset insurance

Payment protection insurance is optional. The published policy has separate eligibility rules, including age 18–69 and at least 20 hours of paid employment or self-employment per week when purchased. Exclusions include specified pre-existing medical conditions and redundancy that was foreseeable, occurs within the first 30 days, or results from certain temporary or fixed-term work ending. Check the policy wording against your circumstances.

For secured borrowing, the loan terms require insurance on the pledged assets, covering at least fire, accident and theft, with other cover potentially required. Include those premiums in your budget. Insurance premiums added to the loan also incur interest.

Illustration: NZ$1,000 repaid over six months

Independent calculation, not a Finance Now quotation: Assume NZ$1,000 cash advanced, a NZ$215 establishment fee financed with the loan, an illustrative fixed rate of 15.95% p.a., six monthly repayments and a NZ$2.50 monthly service fee.

• Starting amount financed: NZ$1,215.
• Approximate monthly payment: NZ$214.52, including servicing.
• Approximate total repaid: NZ$1,287.14.
• Cost above the cash received: NZ$287.14, comprising NZ$215 establishment, approximately NZ$57.14 interest and NZ$15 servicing.

This uses equal monthly periods and an annual rate divided by 12; Finance Now’s daily calculation, payment dates and rounding will change the exact figures. It excludes insurance, security-registration fees, default charges and early settlement. The establishment fee alone equals 21.5% of the NZ$1,000 advance.

Is Finance Now suitable for short-term borrowing?

Finance Now offers a six-month repayment option within its wider personal loan range. Its strongest feature is the availability of secured and unsecured borrowing with a fixed contractual rate. Its main limitation for a small, short-lived expense is the establishment fee, compounded by possible early-settlement costs. Compare personal loan alternatives using the same cash advance and repayment period, then check the total payable and any insurance requirements.

Finance Now short-term loan FAQs

Is Finance Now suitable if I only need money for a few weeks?

Finance Now’s shortest published term is six months. You may repay earlier, but the establishment fee and any early termination charge affect whether that makes financial sense. If you expect to clear the debt within weeks, request the estimated cost of settling on that date and compare it with an arranged overdraft or payment extension.

How much can I borrow, and is the maximum available without security?

The published range is NZ$1,000–NZ$60,000, subject to assessment. Finance Now says larger loans generally require security, so the overall maximum should not be treated as an unsecured borrowing limit. Ask what amount is available unsecured and whether the quoted advance excludes fees added to your balance.

How should I compare Finance Now’s advertised rate with another lender’s offer?

Compare your personalised quotation, rather than Finance Now’s minimum rate against another lender’s approved rate. Its advertised range is 8.25%–29.95% p.a. until 14 January 2027, with the minimum changing to 8.45% for applications received afterwards. Your credit profile, amount and security affect pricing. Compare the same cash advance and repayment term, including fees and required insurance.

Could Finance Now cost more than a higher-rate lender on a small loan?

Yes. For a NZ$1,000 advance over six months, the NZ$215 establishment fee plus six NZ$2.50 service fees total NZ$230 before interest, assuming those standard charges apply. That equals 23% of the cash borrowed, excluding insurance and other conditional costs. A higher-rate loan with lower fees could therefore cost less. Compare total dollars repayable, not interest rates alone.

Is Finance Now a realistic option if another lender declined me for bad credit?

A previous decline does not establish how Finance Now will decide, but its published criteria make recent finance defaults a significant obstacle. It assesses credit history and repayment capacity, and says recent defaults to another financial institution make approval unlikely. Offering a car as security does not remove those checks. Ask whether the reason for your earlier decline falls outside its criteria before submitting another application.

Can I rely on Finance Now for an urgent same-day payment?

Finance Now describes possible same-day funding after approval and signing, and funds arriving within 24 hours after approval and receipt of required documents. An application response is not the same as money being available. For an urgent bill, confirm whether assessment is complete, documents are accepted and funds have been released before committing to a payment deadline.

Can I qualify if I am self-employed or my income varies?

Self-employed applicants can apply with evidence of income received from their business. Finance Now also assesses repayment capacity and describes consistent, stable, proven income as desirable. For variable earnings, ask which records and income period it will assess. Business turnover alone does not show what remains available for personal repayments after business expenses and tax.

Is using my car as security worth a potentially lower rate?

Security may improve the rate or available amount, but compare the total saving after applicable security-registration and insurance costs. Finance Now requires pledged assets to remain insured, and default can lead to repossession. If your car is essential for work, that consequence matters alongside the saving. Required asset insurance is separate from optional payment protection insurance.

Will making extra repayments reduce my total cost?

Extra payments may reduce interest, but clearing the loan early can trigger an early termination charge. Ask for a dated settlement quotation showing the remaining balance, accrued interest and applicable charges. Compare that amount with the scheduled payments still outstanding. If you financed optional repayment insurance, also ask whether an insurance-premium rebate will reduce the settlement amount.