Personal Loans

Need a personal loan that comes with a great rate and a repayment term that suits your budget?

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Quick & Easy Personal Loan NZ – Best Rate

With such a vast range of personal loan available in New Zealand, comparing lenders is the best way to secure a loan.

Don’t simply accept the first loan offer that comes your way, take some time to browse through these top lenders.

Frequently Asked Questions

BEST Personal Loan Rates

A personal loan can be used for almost anything and can range in size depending on your loan agreement.

Apply for a personal loan in New Zealand by quickly and easily finding the ideal loan online that meets your needs and suits your budget. Finding the ideal loan that offers you a good rate, flexible loans terms, the ideal loan amount and quick loan delivery is best done to compare loans online.

A personal loan is known as an unsecured loan because the loan does not have to be secured by an item of collateral so they are a lot less risky for you as a client.

Before you Apply for a Personal loan

When you apply for a personal loan you will need to know how much you need to borrow and how long you will need to pay it back. You will also need to know what your credit score is. Apply for a copy of your credit report and look for any mistakes that may be listed and make sure they are corrected before you apply for a loan.

Your Credit report will determine your loan outcome

Your credit report is a list of all your financial history, both good and bad. The more financial transgressions that you have, the lower your credit score will be. If you have a low credit score, then your loan terms will be a lot more strict and you may only qualify for a reduced amount or what is known as a bad credit loan.

A personal loan is not a revolving loan like a credit card or an overdraft facility. A personal loan needs to be repaid in instalments and has a fixed end date. Terms usually range from 2 to 5 years and carry a fixed interest rate so you always know exactly how much your payments will be each month.

Repaying your Personal loan

To repay your personal loan, most lenders require that you set up a direct debit on your account that runs automatically according to your pay frequency.

When you sign a personal loan contract you will agree to pay off the entire amount on an agreed upon date. This fixed term contract allows you to space out your payments and manage your budget more easily.

If you struggle to make repayments and get behind on your long or short-term loan, then it could end up costing you a lot more than you originally intended. If you default on payments the lender could take legal action against you.

Make sure you know what the payment policies are as some lender will charge you penalty fees and extra charges if you repay your loan early.

How to use your Personal loan to get the Best results

There are many reasons that you may apply for a personal loan and if used responsibly then it can help you get back on top of your finances and help you out of a sticky situation.

You will be able to get the most out of your personal loan by using it wisely. Use a personal loan to consolidate your credit cards and diminish your debt.

If you are relying on credit cards to pay bills and make it through the month and you are struggling to pay off multiple credit cards, then you could use a personal loan to consolidate your credit card debt. This method allows you to pay off your existing debt at a lower interest rate.

Debt consolidation allows you to save a lot of money and not need to worry about juggling multiple payments.

How to go about Debt consolidation

Ignoring your debt and hoping it goes away on its own is not an option and you will accumulate late fees and other penalties. If you don’t let the lender know you have a problem, then they may seek legal action against you.

  • FIRSTLY, identify your debt load – know exactly how much money you owe and figure out which accounts have the highest interest rate charges.
  • Create a budget that you can stick to – by monitoring your spending you can see where you can cut down and save on expenses.
  • SPEAK to a professional about your finances and find out what options you have and how to go about applying.

Refinance your Student loan

Student loans cost a lot of money and usually carry a very high-interest rate charge you could use a personal loan in order to consolidate your debt. Make sure you know what the terms and conditions of your student loan or as some come with special benefits that may no longer apply if you refinance it.

You can also use a personal loan to pay for a big purchase so that you don’t need to buy it on credit and push yourself further into debt.

Other good reasons to apply include:

  • Pay for your wedding or other big celebrations
  • Use it to improve your credit

Different types of Personal loans

The two main types of personal loans include secured and unsecured loans. An unsecured personal loan does not require you to provide security against it and includes payday loans and short term loans. This loan is based on your financial history and your repayments terms will depend on your credit score and other factors.

A secured loan means that you will need to supply an item of collateral. This can be your home or any item of value that is more than the loan amount. The problem with a secured loan is that if you miss payments then you could end up losing your home or car and you will be in a worse position than you originally were.

Personal 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 Personal loans

  1. MoneyShop Personal loan

    MoneyShop

    • Loans up to $20,000
    • Term up to 2 years
    • Interest from 29.95%
  2. Finance Now Personal loan

    Finance Now

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 12.95%
  3. Loansmart Personal loan

    Loansmart

    • Loans up to $50,000
    • Term up to 120 months
    • Interest from 13.95%
  4. Loans4you Personal loan

    Loans4you

    • Loans up to $20,000
    • No-obligation
    • Easy application
  5. ANZ Bank Personal loan

    ANZ Bank

    • Loans up to $40,000
    • Term up to 7 years
    • Interest up to 10.95%
  6. Pioneer Finance Personal loan

    Pioneer Finance

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 14.95%
  7. Interest.co.nz Loans Personal loan

    Interest.co.nz ...

    • Loans up to $40,000
    • Flexible loans
    • Interest from 12.9%
  8. First Credit Union Personal loan

    First Credit Un...

    • Loans up to $50,000
    • Term up to 4 years
    • Interest from 9.95%
  9. Westpac Personal loan

    Westpac

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 10.95%
  10. Harmoney Personal loan

    Harmoney

    • Loans up to $70,000
    • Term up to 60 months
    • Interest from 6.99%
  11. NZCU South Loans  Personal loan

    NZCU South Loan...

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 9.90%
  12. Rapid Loans Personal loan

    Rapid Loans

    • Loans up to $10,000
    • Term up to 48 months
    • Interest from 39%
  13. Finance.co.nz Personal loan

    Finance.co.nz

    • Loans up to $200,000
    • Loan comparison
    • Interest from 6.89%
  14. NZCU Baywide Personal loan

    NZCU Baywide

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 9.9%
  15. Max Loans Personal loan

    Max Loans

    • Loans up to $50,000
    • Term up to 60 months
    • Interest from 6.99%
  16. BNZ Personal loan

    BNZ

    • Loans up to $30,000
    • Term up to 5 years
    • Interest from 12.68%
  17. Yes Finance Personal loan

    Yes Finance

    • Loans up to $30,000
    • Term up to 48 months
    • Interest from 14.9%
  18. Future Finance Personal loan

    Future Finance

    • Loans up to $80,000
    • Term up to 5 years
    • Interest from 9.95%
  19. Kiwibank Personal loan

    Kiwibank

    • Starting from $2,000
    • Term up to 7 years
    • Interest from 16.95%
  20. NZ Finance Ltd Personal loan

    NZ Finance Ltd

    • Loans up to $3,000
    • Term up to 18 months
    • Interest from 9.95%
  21. Admiral Finance Personal loan

    Admiral Finance

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 13.95%
  22. ASB Bank Personal loan

    ASB Bank

    • Loans up to $40,000
    • Term up to 7 years
    • Interest from 12.90%
  23. The Lending Room Personal loan

    The Lending Roo...

    • Loans up to $25,000
    • Term up to 5 years
    • Apply online
  24. Lifestyle finance Personal loan

    Lifestyle finan...

    • Loans up to $20,000
    • Term up to 3 years
    • Interest from 17.95%
  25. Instant Finance Personal loan

    Instant Finance

    • Loans up to $20,000
    • Term up to 36 months
    • Interest from 19.95%
  26. Active Finance Personal loan

    Active Finance

    • Loans up to $100,000
    • Term up to 5 years
    • Interest from 14.95%
  27. Oxford Finance Personal loan

    Oxford Finance

    • Loans up to $50,000
    • Term up to 60 months
    • Interest from 9.95%
  28. Fair City Finance Personal loan

    Fair City Finan...

    • Loans up to $20,000
    • No application fee
    • Interest from 14.95%
  29. Alternate Finance Personal loan

    Alternate Finan...

    • Loans up to $15,000
    • Term up to 3 years
    • Interest from 13.95%
  30. My Finance Personal loan

    My Finance

    • Loans up to $50,000
    • Term up to 60 months
    • Interest from 13.95%
  31. Cash Converters Personal loan

    Cash Converters

    • Loans up to $3,000
    • Term up to 12 months
    • Interest up to 49.95%
  32. Speedy Loans Personal loan

    Speedy Loans

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 13.95%
  33. Loan Direct Personal loan

    Loan Direct

    • Loans up to $100,000
    • Term up to 120 months
    • Interest from 8.95%
  34. Geneva Finance Personal loan

    Geneva Finance

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 11.95%
  35. The Money Man Personal loan

    The Money Man

    • Loans up to $50,000
  36. placeholder for Gold Band Finance

    Gold Band Finan...

    • Loans up to $250,000
    • Term up to 5 years
    • Interest from 9%
  37. Gilrose Finance Personal loan

    Gilrose Finance

    • Loans up to $20,000
    • Term up to 4 years
    • Interest from 18.75%
  38. QuickCash Finance Personal loan

    QuickCash Finan...

    • Loans up to $5,000
    • Term up to 3 years
    • Interest from 29.99%
  39. Bluesky Finance Personal loan

    Bluesky Finance

    • Loans up to $15,000
    • Term up to 5 years
    • Interest up to 9.95%
  40. Asset Loans Personal loan

    Asset Loans

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 9.95%
  41. Squirrel Money Personal loan

    Squirrel Money

    • Loans up to $70,000
    • Term up to 7 years
    • Interest from 8.95%
  42. Finance District Personal loan

    Finance Distric...

    • Loans up to $5,000
    • Term up to 368 days
    • Interest from 149.65%
  43. Budget Loans Personal loan

    Budget Loans

    • Loans up to $3,000
    • Term up to 6 months
    • Interest from 19.95%
  44. Finance Point Personal loan

    Finance Point

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 13.95%
  45. NZ Credit & Loans Personal loan

    NZ Credit & Loa...

    • Loans up to $1,000,000
    • Term up to 5 years
    • Interest from 13.9%
  46. NZ Personal Loans Personal loan
  47. Loanplus Personal loan

    Loanplus

    • Loans up to $5,000
    • Term up to 24 months
    • Interest from 29.95%
  48. Frontier Finance Personal loan

    Frontier Financ...

    • Loans up to $100,000
    • Term up to 5 years
    • Interest from 13.95%
  49. Central Finance Loans Personal loan
  50. Loans 2 Go Personal loan
  51. Morgan Finance Personal loan

    Morgan Finance

    • Loans up to $50,000
    • Term up to 60 months
    • Interest from 18%