Yes Finance

Yes Finance eligibility and documents

Yes Finance checks credit history and assesses income and expenditure using recent bank statements. For unsecured applications, its published employment and credit-history requirements are stricter than its general willingness to consider past credit problems.

Prepare identity and address evidence, income and expense information, and details of existing debts. A secured application also needs information about the proposed asset and any finance already owing on it. The checked pages do not establish a universal minimum income or complete residency and visa criteria; confirm these before applying.

Bank statements can be supplied through the lender’s electronic verification service or emailed as PDFs. Manual submission may take longer. Read the information-sharing consent before authorising checks.

When this borrowing may suit a short-term need

A defined repair or essential expense may justify comparing an offer if repayments leave room for living costs and irregular bills. However, needing money briefly does not make a one-to-three-year agreement a short-term commitment.

If you expect to repay within a few months, compare the cost of closing the loan on that date. A payment arrangement with the bill provider or an existing bank facility may cost less. Compare other short-term borrowing options using the same amount and repayment period.

Reconsider securing a small cash advance against a vehicle you depend on. If borrowing would cover a recurring budget deficit, explore debt-management support before adding another repayment.

How to apply and repay

Application process

The official cash-loan application asks about the borrowing purpose, security and whether you are applying alone or with a partner. An initial assessment may lead to a fuller application and supporting checks. Telephone assistance is available on 0508 10 50 10.

Before accepting, check the cash you receive against the amount financed: added fees and insurance can increase the balance without increasing your available cash. Confirm repayment dates and the total payable in the completed disclosure.

Approval and payment timing

Yes Finance says most loans can be approved within one day. That is an approval indication, not a confirmed funding deadline. Incomplete documents or further checks may delay the outcome; ask when cleared funds would reach your account.

Questions that affect the decision

• Which interest rate applies to my loan, given the conflicting website figures, and is it fixed?
• What is the shortest available term, and what would settlement cost on my intended repayment date?
• How much cash will I receive, which charges are financed, and what is the total repayment?
• Is any asset insurance compulsory, and what does optional payment protection add to the cost?
• Which assets and debts would the security cover, and what obligations would a co-borrower or guarantor accept?

Advantages and limitations

• Unsecured option: Eligible applicants can borrow a small amount without pledging an asset.
• Application assistance: Telephone support is available for completing the application.
• Cost uncertainty: Inconsistent public rates make a written quotation particularly important.
• Fees matter on small balances: Initial and ongoing charges can outweigh an apparently attractive interest rate.
• Early-exit and security risks: Settlement charges affect brief borrowing, while secured lending puts the pledged asset at risk.

Yes Finance interest rates, fees and total cost

Conflicting published rates

The personal-loan page advertises 14.9%–24.9% p.a. secured and from 24.9% p.a. unsecured. Its FAQs instead show 13.9%–29.9% p.a. secured and 19.9%–29.9% p.a. unsecured. Broader ranges also appear in the application calculator and agreement terms. These disclosures do not establish one current rate range for this borrowing need.

Obtain a personalised rate and total repayment. The percentages above are annual interest rates, not verified fee-inclusive APRs.

Published charges

The personal-loan schedule effective 1 June 2026 lists:

• Establishment: $150 unsecured or $195 secured.
• Signing and verification: $48 per borrower.
• PPSR and credit check: $23 for a single borrower.
• Additional borrower or guarantor: $30 each, added to establishment costs.
• Account administration: $5 monthly.
• Statements: $5 when continuing disclosure is issued.

Older establishment fees remain elsewhere on the website. Confirm that the quotation uses the applicable schedule and identifies every additional charge.

Early repayment and missed payments

The other-fees schedule lists a $100–$150 personal-loan settlement charge outside scheduled repayment, potentially plus compensation for interest-rate losses. The sample agreement specifies $100 administration for full prepayment plus any applicable loss calculation. Request a dated settlement figure.

The sample disclosure shows 35% p.a. default interest on overdue payments, a $25 default fee and further collection charges. Some contact charges differ from the fee schedule, so the current default-cost breakdown needs written confirmation.

Insurance costs

The secured agreement terms require insurance over collateral. Include that premium when comparing secured and unsecured offers.

Credit Contract Insurance is optional. Ask for the actual policy, premium, exclusions, waiting periods and benefit limits before selecting it. The lender’s overview does not establish whether a particular illness, employment situation or redundancy would qualify. Financing a premium can also add interest.

Illustration: borrowing $1,000 for 12 months

Original calculation, not a Yes Finance quotation: Assume $1,000 cash received, $221 of establishment, verification and credit-check fees added to the balance, an illustrative 24.9% annual rate, and 12 monthly repayments. Using monthly amortisation, repayments would be approximately $120.99 including the $5 monthly account fee. Allowing two $5 statements gives approximately $1,461.88 total repayment, or $461.88 above the cash received.

This assumes all listed initial charges apply and excludes insurance, default, variation and early-settlement costs. Yes Finance’s sample agreement calculates interest daily, so actual dates and contractual calculations will change the result.

Is Yes Finance suitable for short-term borrowing?

The strongest feature is an unsecured option for eligible applicants who want to avoid pledging an asset. The main limitation for a brief cash need is the combination of initial fees, ongoing charges and possible settlement costs. Compare personal-loan alternatives on the total cost to your intended repayment date, then check whether each instalment remains affordable after essentials.

Yes Finance short-term loan FAQs

Can I use Yes Finance for a loan I only need for a few months?

Yes Finance generally advertises one-to-three-year terms; a separate short-term product was not verified. Ask whether it can offer your intended repayment period. If the proposal is a longer agreement that you would settle early, compare the payments made before settlement plus the final settlement amount. That gives a more useful comparison with a shorter loan than the advertised instalment alone.

Can I borrow $3,000 without putting my car or another asset at risk?

Yes Finance’s advertised unsecured limit is $2,000, so $3,000 exceeds that option. A secured offer introduces asset-insurance requirements and the risk of repossession following default. Before accepting security for a relatively small advance, compare unsecured personal-loan alternatives. A lower secured interest rate may not outweigh the additional costs and risk to an essential vehicle.

Which fees matter most when comparing a $1,000 or $2,000 loan?

The schedule effective 1 June 2026 lists a $150 unsecured establishment fee, $48 signing and verification fee, and $23 PPSR and credit-check fee. If all three apply to one borrower, they total $221 before interest. As a fee-only illustration, that equals 22.1% of $1,000 received or 11.05% of $2,000. Add the $5 monthly account fee and applicable $5 statement charges. Compare offers for the same cash received, since financed fees increase the debt without increasing your spending money.

Which Yes Finance interest rate should I use when comparing lenders?

Use a written personalised quotation. The personal-loan page advertises unsecured rates from 24.9% p.a., while the FAQs show 19.9%–29.9% p.a.; the public disclosures do not resolve that difference. These are annual interest rates, not verified fee-inclusive APRs. Compare the quoted total repayment over the same term, including compulsory charges and any insurance you select.

Does Yes Finance’s willingness to consider bad credit apply to unsecured loans?

Its general approach allows consideration of some past credit problems, but the unsecured application criteria require stable employment, sufficient income and no prior adverse credit history. Do not assume the broader message applies to a small unsecured loan. If you have a settled default, ask which product you could qualify for before proceeding; providing security does not establish affordability or approval.

Can I apply without a credit check or sharing my online banking credentials?

A credit check is required. However, Yes Finance allows PDF bank statements by email as an alternative to its electronic statement-retrieval service. Manual verification may take longer. The lender says most loans can be approved within one day, but that does not establish when money will reach your account. If payment is urgent, confirm both document acceptance and funding timing.

Can I match repayments to my payday, and does changing frequency cost extra?

Yes Finance offers weekly, fortnightly or monthly repayments. Its fee schedule lists $25 for changing the payment day or frequency, so agree the arrangement before signing. When comparing a weekly quote with a monthly one, multiply the weekly payment by 52 and divide by 12 for an average monthly equivalent. Multiplying by four understates the annual commitment.

Would repaying Yes Finance early make it a cheaper short-term option?

Possibly, but include the exit costs. The fee schedule lists $100–$150 for personal-loan settlement outside scheduled repayments, potentially plus compensation for interest-rate losses. The sample agreement specifies $100 administration plus any applicable loss calculation. Ask for the charge applicable to your offer and an estimated settlement amount for your intended date. Compare all payments up to that date plus settlement against a competing loan with the same cash advance.

What happens if my circumstances change or I dispute a charge?

Contact Yes Finance on 0508 10 50 10 or info@yesfinance.co.nz. Its sample agreement describes written hardship applications where eligible. If offered smaller payments or more time, request the revised total cost and confirmation of how interest and fees will be treated.

For a disputed charge, identify the amount, date and relevant agreement wording when emailing complaints@yesfinance.co.nz. Unresolved complaints can be referred to Financial Services Complaints Limited on 0800 347 257; its dispute-resolution service is free to consumers.