Frequently Asked Questions

Do I need security for my loan?

We offer both secured and unsecured loans to approved borrowers.

Who can get a NZ Finance personal loan?

To qualify for a loan, you will need to be†a New Zealand citizen or hold New Zealand permanent residency status and you must reside in New Zealand.

Can I still get a loan if I have some bad credit?

Every situation is different, so itís still worth applying even if you do have some minor bad credit, but please tell us in your application. Itís much better to disclose bad credit history when you make your application, as this will give your loan assessor some background when reviewing the credit report. If you have defaults on your credit report from other financial institutions, your application may require a co-borrower, security or both.

Whatís involved in the loan application process?

The loan application process is quite simple:

First youíll need to complete and submit the 2-minute loan application form. Your loan assessor will then review the information you provide. If we believe you meet our current lending criteria we will contact you on your mobile phone and email you with a link to a secure portal to generate a bank transaction report for the last 90 days for review.

The process is simple and quick and you will not be required to send us any further supporting documents at this point.

As required under the Responsible Lending Code Act, the company must review your bank transaction report so as to confirm your income, assess your outgoings and to structure the payments so they are affordable.

Your loan assessor will call you once your loan has been approved and provide you with a detailed loan quote and a loan offer which you can review before proceeding with the loan. At this point we will request a copy of your ID, a recent photo, payslip and proof of your address.

Your employer will not be contacted.

A copy of the complete loan documents will be emailed to you to review before being sent to you again via our secure digital signing portal where you will then be able to sign the document online. (No need to fax/scan/post documents back to us). Additionally a hard copy of the signed loan documents will be posted to you.

Can I still get a loan without photo ID?

No, unfortunately if you do not have either a current driverís licence or a passport, we will not be able to process your application for security reasons.

Do I need to come to the office to sign papers?

No, we will email your document out to you for signing.

How long will it take to get my money?

Usually the process only takes a couple days. Once your loan is approved, your loan documents will be emailed to you
for signing online and funds will be paid into your bank account.

Can I change my mind about the loan and get out of it?

If your circumstances change and you decide you donít need the loan any more, you can cancel right up until you actually receive the money. If the money has been paid to you already, you have up to five working days to cancel and return all of the money.

What you may have to pay if you cancel
If you cancel the contract the company can charge youó
(a) the amount of any reasonable expenses the company had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, establishment fee and
(b) Interest for the period from the day you received the advance until the day you repay the advance.

Beyond five working days, you cannot cancel the loan, but you can pay it back early, subject to an early termination fee of just $45.

How do I change my contact details?

In the event you change address or get a new phone number or cell phone number or a new email address which you intend to use please let us know so we can update your details. You can do this by sending an email or calling on our toll free phone or by mail. By letting us know of the change of your contact details will avoid confidential information being sent to any old addresses held on our files.

What could happen if I donít make my payments and default on my loan?

You may also refer to the section called WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS in your loan agreement and you should take the time to read this, (you can request a copy of your loan agreement sent to you if you are not sure where it is).

If your payments are via direct debit and if for some reason there isn’t enough money in your bank account on the date the payment is due, the payment may not be made by your bank. Your bank will charge your account a dishonoured payment fee and also your account with NZF will incur a $15 fee for any missed or dishonoured payment.

If you find yourself in a situation where you think you might not be able to meet your payment, contact us two working days prior to the payment due date and we can then arrange to defer your direct debit payment. This will save you bank fees and by letting us know in advance, will also mean we will not charge you a dishonour fee. You will then need to make an arrangement to make up the missed payment.

If you think you may have a problem with the timing of your income coming into your bank account and the payments you are making to us, please feel free to discuss this. It is important that this is all set up so that it works effortlessly for you.

If you miss a payment for any reason your loan will be in default until the missed payments are brought up to date, unless you have made prior arrangements.

Default interest of 10% above the fixed rate will be also be charged additionally on the amount of the arrears which will include any default fees.

Where possible it is the company’s policy to avoid incurring default costs to your account by working with you to resolve any payment issues you may be having or in the event of a change in your circumstances.

In the event you default on your account and fail to make a payment arrangement the company may refer your account to our debt collection agency. This will also include reporting the default with Veda Advantage credit reporting agency and/or other credit reporting agencies. If that happens the additional cost of this collection will be charged to your account, this also may be referred to the District Court which will incur further court related costs and result in an “attachment” being made to your wages or other income.

Where your loan specifies a security item which could be a personal item, or a vehicle being either a first or second security, or property, the company may under certain circumstances take action to repossess those goods sell and apply the proceeds to your account.

Also see our Unforeseen Hardship application process on this page.


Repaying your personal loan

Will I end up with an expensive loan I canít get out of?

When you receive your loan documents you will receive details of all scheduled repayments through the term of your loan and on what date they fall due, the commencing first payment date that you requested, the total cost of the loan and the interest rate. Also see our “Cost” page

How much will the repayments be?

Generally your repayments are set to suit your budget, see the “Cost” page for example of payments. Once your loan is approved your Loan Assessor will discuss options over various terms so the payments can be made to suit your circumstances, and also provide you with a detailed loan quote showing all standard transactions for the term of the loan.

It’s good to keep in mind the quicker you pay down the loan the lower the cost, as interest is only charged to your account on your daily loan balance. You can also choose to start you loan with lower payments and later increase them to reduce the term of the loan and the total cost.

The company can provide options under the “Unforeseen Hardship” provisions to reduce or suspend your payments if necessary, you should contact the company in this event so we can assist you.

What happens if I canít make payments due to sickness or accident?

If you have taken our Waiver Agreement (payment protection), this will provide cover for your payments up to 8 weeks in the event that you cannot work due to ill health or accident.  Payment Protection,  

What if Iím made redundant Ė can I suspend my payments or decrease my repayment amount?

If you have payment protection (Waiver agreement) including redundancy you may claim up to 8 weeks of your payments. However, first thing to do is talk to us when you think you may have problems making your payments. Under our provisions for Unforeseen Hardship, the company will assist where possible. There are some conditions relating to this and you can see these by clicking here.

Can I change the frequency of my repayments?

Yes of course - just call the office and we will change them to suit you best. You can choose weekly, fortnightly, or monthly repayments.

How do I find information on my account?

You can call us anytime 24/7 on 0800 85 55 55 for our callback service or email us at A statement of your account will be emailed to you at your request and you will automatically receive a statement every two months.

Are there any fees if I pay my loan off early?

An administration fee of $45 may apply to cover the cost of closing your loan, but there will be no other Ďbreak feesí to pay.

How much will I pay over the term of the loan?

See our “Costs” page. Once your loan has been approved you will receive a loan offer and a loan quote which will give a complete breakdown of your loan over the entire term of your loan including the total payment cost. Additionally when you receive your loan document to sign, a full breakdown of scheduled costs will be provided.

Can I top up my loan?

Yes, with our QuickDraw revolving credit account facility.You can top-up your existing QuickDraw loan account without doing any further loan documents. It’s simple and quick to arrange. At any time your loan balance is less than your pre-approved QuickDraw limit, and your account has no arrears, you can top up on your account and the fee to do this is just $25.00 (lending criteria applies). To find out if you have funds available to QuickDraw, simply email



About us

Is NZ Finance really based in NZ?

Yes! We really are based in New Zealand, and so are all our staff. So when you call us you'll be speaking to real people right here in NZ. New Zealand Finance Ltd, is a well established New Zealand registered and owned company, with our head office in the central city, Auckland.

Who can I talk to about my loan or application?

You can phone our offices toll free whenever you like 24/7. Our efficient system allows you to record your request and a real person will
return your call or email about your loan within a short period. No matter where you are in New Zealand, just call our 0800 85 55 55. Our
office is attended Monday to Friday from 9am to 4pm.

How we use your information

Is my application confidential?

Yes, completely confidential. Your application will only be viewed by the loan officer or supervisor who processes it, and only for the purposes
of assessing your loan application and protected by our SSL secure site.

How secure is my information?

Protecting your information is of paramount importance to us. Your application will be stored in our password-secured server. When we
have hard copies of information that you have provided, these files are stored in locked facilities and only accessed when needed. Where
you have made an application and the loan did not proceed, any supporting documents you sent us can either be returned to you if
requested, or will be destroyed by shredding.

Will NZ Finance pass my details to junk mail companies?

No, we will never send you any junk mail, nor will we sell or pass on your details to any other company.

Will my employer find out Iíve applied for a loan?

No, we will not contact your employer as we are able to confirm your income via your Bank Transaction Report.