Pronto Finance

Pronto Finance eligibility and documents

Pronto’s FAQs specify New Zealand residents over 18 with a current New Zealand driver licence or passport. The lender assesses affordability individually rather than publishing a fixed minimum income. It requires statements covering the previous 90 days and says cash-paid income cannot be recognised in its assessment.

Prepare your identification, bank account details, income and expense information, mobile number and email address. Include existing loans, credit cards, buy-now-pay-later commitments and costs missing from your statements. Pronto checks credit history alongside its own borrower assessment.

When is a vehicle required?

The application form states that loans above $2,000 need vehicle security. However, the FAQs give unsecured limits of both $1,000 and $500 in different answers. The unsecured maximum remains unconfirmed. Obtain written confirmation for your requested amount.

A vehicle offered as security needs a current warrant of fitness and registration. Pronto generally requires it to be free of existing finance, although it may consider settling that finance through consolidation. If repayments fail, pledged assets may be repossessed and sold under the agreement. A joint borrower also takes on repayment obligations.

Who should consider a Pronto short-term loan?

Pronto may suit someone funding a specific expense who can afford the scheduled repayments and wants the flexibility to settle sooner. Its early-repayment policy is useful when extra income becomes available, but the decision should remain affordable without relying on an uncertain future payment.

Reconsider if borrowing would cover a recurring shortfall, or if pledging your vehicle would put essential transport at risk. For a small bill, compare the establishment fee with the cost of arranging payments directly with the supplier. For larger needs, compare other personal loan options using the same amount and repayment period.

If existing repayments already exceed your available income, explore debt-management support before adding another commitment.

How Pronto Finance applications work

Application and assessment

1. Use Pronto’s online application to enter the amount needed, proposed repayments and repayment frequency.
2. Provide identification, financial information, bank statements and any required security details. Joint applicants supply their own information.
3. Pronto assesses the application and, if approved, provides a contract for digital signing.
4. Check the net cash advanced, financed fees, insurance, security and total repayment before accepting. Funds are then paid to the nominated account.

Read Pronto’s privacy policy before submitting information. It covers credit reporting, third-party processing and marketing uses, including sharing information with related entities and other parties.

What does the nine-minute funding claim mean?

Pronto’s nine-minute funding promise starts after the signed contract is returned, including the final signature for a joint loan. It applies to ANZ, ASB, BNZ, Kiwibank and Westpac accounts between 9am and 5pm, Monday to Friday, excluding New Zealand public holidays.

Bank-system outages are excluded. This timing does not describe the complete application and assessment process, and submitting an application does not establish approval.

Questions to ask before accepting an offer

• How much cash will I receive, and how much will I owe after fees and any selected protection product are added?
• Which administration fee, default fee and default interest rate apply to this contract?
• Does this amount require security, which assets are covered, and what insurance must I maintain?
• What are the total scheduled repayments and the estimated settlement amount if I repay on my intended earlier date?
• Is any protection product optional, what does it cost, and which exclusions could affect a claim?

Pronto Finance advantages and limitations

• Early-repayment flexibility: No advertised early settlement fee, allowing borrowers to shorten the actual borrowing period.
• Fixed interest: The approved interest rate stays fixed for the loan term.
• Online process: Application and digital signing can be completed remotely.
• Small-loan cost: Establishment charges can form a substantial share of the cash borrowed.
• Disclosure inconsistencies: Conflicting fees and security thresholds make a personalised written offer particularly important.
• Asset exposure: Secured borrowing places pledged property at risk and brings insurance obligations.

Pronto Finance interest, fees and total cost

Interest rates and establishment charges

Pronto’s detailed pricing pages publish 9.97%–29.97% fixed annual interest, depending on its client rating. Some homepage promotional text still says “from 11.97%”. The detailed rate schedule supports the wider range, but only an approved quotation establishes your rate. Interest is separate from fees.

The published establishment charges apply to new loans and refinances:

• $200–$499 borrowed: $116.
• $500–$999 borrowed: $216.
• $1,000–$20,000 borrowed: $316.

Published charges that need confirmation

The dedicated pricing page and linked sample contract show the lower figures; the homepage shows the higher figures. Neither set is treated here as confirmed current pricing. Default correspondence, collection and enforcement costs may also apply.

Illustration: the fee burden on a $500 loan

Original fee-only illustration: On $500 borrowed, the $216 establishment fee equals 43.2% of the cash received. If the loan remains active for 26 weeks and incurs 26 administration charges, those charges total $98.54 at $3.79 weekly or $102.96 at $3.96 weekly. Combined establishment and administration fees would therefore be $314.54 or $318.96 before interest.

This is not a repayment quotation or a full borrowing-cost calculation. It excludes interest, insurance, optional protection and default costs. It shows why a low advertised interest rate alone cannot establish whether a small loan is good value.

Insurance and optional repayment protection

The sample credit contract requires collateral to be insured to its full insurable value with the lender’s interest recorded. Confirm the required vehicle cover and premium when comparing a secured offer.

Pronto separately describes Payment Protection Insurance and a Repayment Waiver as optional. They have different terms; confirm which is offered and obtain its price.

The waiver terms dated 1 June 2025 include a general 30-day exclusion period, with specified accidental-injury exceptions. Disablement and redundancy benefits require permanent employment exceeding 20 hours weekly. Pre-existing medical conditions and psychiatric or psychological conditions are among the exclusions, and arrears can restrict benefits. An upfront waiver fee may be added to the advance, increasing the financed balance.

What early repayment can save

Pronto advertises no early repayment fee, and administration charges apply while the loan remains active. Settling sooner can reduce future interest and administration charges. Ask for a dated settlement figure rather than assuming all costs disappear when the borrowing period is shortened.

Verdict: compare the cost of your intended borrowing period

Pronto’s strongest feature for short-term borrowing is its early-settlement flexibility. Its main limitation is that establishment fees can make a small advance expensive before interest is considered, while conflicting disclosures complicate comparison.

The decisive comparison is the total cost of receiving the same cash and repaying it on the same date. Include required insurance and the consequences of vehicle security. Obtain written clarification of the disputed charges before accepting an offer.

Repayment support and complaints

Contact Pronto on 0800 543 718 or info@prontofinance.co.nz. Its published office hours are 9am–5pm, Monday to Friday, excluding New Zealand public holidays.

If repayments become difficult, follow its hardship application process, explaining the circumstances, affordable payments and expected recovery period. A longer term or payment postponement may increase the overall cost.

Raise complaints with Pronto first through its complaints process. Pronto identifies Financial Services Complaints Limited as its external dispute-resolution scheme. Unresolved complaints can be referred to FSCL on 0800 347 257; the service is free to consumers.

Pronto Finance short-term loan FAQs

How much can I borrow, and does the amount affect Pronto’s fees?

Pronto advertises $200–$20,000, subject to approval and security requirements. Its published establishment fee is $116 for $200–$499, $216 for $500–$999, and $316 for $1,000–$20,000. Crossing from $499 to $500 therefore adds $100 in establishment fees for $1 more borrowed; the same increase occurs between $999 and $1,000. These thresholds matter when comparing the cost of a small advance.

Is Pronto suitable if I only need money until my next payday?

Pronto’s contractual terms run from 26 weeks to five years, although you can repay sooner without an early repayment fee. For borrowing until payday, request an estimated settlement amount for that date and compare it with another provider’s cost for the same cash advance and duration. Check that you could also afford Pronto’s scheduled repayments if your planned early settlement falls through.

Will I qualify for 9.97%, and does that make Pronto cheaper?

The published fixed annual interest range is 9.97%–29.97%. Pronto links the lowest rate to its own client rating of 1,000 or more; this is not the same as a score obtained from a credit-reporting service. The rate excludes fees. Compare personalised offers using the same amount and repayment period: on a small, brief loan, establishment charges can outweigh the benefit of a lower interest rate.

Can I borrow without securing the loan against my car?

Pronto advertises unsecured borrowing, but its disclosures conflict: the FAQs mention limits of $500 and $1,000, while the application form says loans above $2,000 require a vehicle. Obtain written confirmation for your amount before relying on unsecured eligibility. If security is required, compare the insurance cost and repossession risk alongside the interest rate; a secured offer creates obligations beyond its repayments.

Could Pronto approve me if another lender declined my application?

A previous decline does not establish Pronto’s decision, but Pronto performs a credit check and affordability assessment. Its client rating combines credit information with other financial data, so its assessment may differ from another lender’s. It does not advertise blanket acceptance of bad credit. Before applying again, ask whether the reason for your earlier decline would also make you ineligible with Pronto.

Can I qualify with a Work and Income benefit or irregular earnings?

Pronto says benefit recipients may be considered and does not publish a fixed minimum income. It examines 90 days of bank statements to assess income against expenses. Its FAQs say cash-paid income cannot be recognised. If your earnings fluctuate, ask which income Pronto will accept and how that affects the loan amount; occasional higher deposits do not establish an affordable ongoing repayment.

What must happen before Pronto’s nine-minute funding period starts?

The period starts after the signed contract is returned, including the final borrower’s signature on a joint loan. The promise applies to ANZ, ASB, BNZ, Kiwibank and Westpac accounts between 9am and 5pm, Monday to Friday, excluding New Zealand public holidays. Banking-system outages are excluded. When comparing urgent loans, distinguish the time needed for assessment and document checks from the time needed to transfer an approved advance.

Which costs can I reduce by repaying Pronto early?

Pronto advertises no early repayment fee, and weekly administration charges apply while the loan remains active. Earlier settlement can reduce future interest and administration charges, but it does not mean the establishment fee is refunded. Request a dated settlement breakdown. Also confirm the weekly charge: the dedicated pricing page lists $3.79, while the homepage lists $3.96; the applicable figure remains unresolved in the public disclosures.

Does refinancing or borrowing again mean paying another establishment fee?

Pronto says returning borrowers need a new application, and its published establishment fees apply to both new loans and refinances. If a replacement loan settles your existing balance, compare its total repayments with the payments remaining on your current loan, accounting separately for any extra cash received. A lower instalment may reflect a longer term, while another establishment fee can reduce the value of refinancing a small balance.