So you’re looking for
a Personal Loan?

With you can compare deals from loan providers across the market in just a few easy steps.

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Types of Loans

Unsecured personal loans

You won’t need to put down a valuable asset as security but you may need a good credit score.

Secured loans

With a secured loan, you’ll need to put up a valuable asset – usually your home – as security to get the loan.

Flexible loans

A few lenders will offer flexible loans. These allow you to draw down the loan money as and when you need it and choose how much you repay each month, subject to a minimum repayment amount.


Some current accounts have a 0% overdraft on relatively small amounts of money. You could consider switching if your current account doesn’t have this feature.

Don’t exceed your overdraft limit, or fees and interest are likely to prove very expensive.

What is a short term loan?

short-term loans are any sort of borrowing with a short repayment period. Personal loans, like the ones you’ll see when you compare rates with us, typically have terms of 12 months upwards.

Although a loan of just one or two years could still be considered a short-term loan, if you need to borrow money for even less time, you might have to look at some alternatives to traditional personal loans.

Why take out a short-term loan?

You might need a short-term loan to cover urgent bills. Loans for short-term use tend to be available quickly because they’re unsecured and require no collateral, such as a house or a car.

You can usually apply online, with a decision in minutes.

How to find a New Zealand short-term loan

Be careful searching online for short-term loans – the results you find are likely to point you towards payday loans. And it might not be obvious that that’s what they are. Payday loans usually have very high rates of interest, as well as fees, so they’re a very expensive form of borrowing.

They’ll also show up on your credit record. And that can make it hard to get other types of credit, like a mortgage, if a lender sees that you’ve had a payday loan in the last few years.

You can compare loans with us by choosing the repayment term, but these will typically be loans with terms of one year or longer. If you need short-term borrowing, you might want to consider some alternatives to a traditional loan product.

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How much will a loan cost?

The loan term: The ‘term’ of your loan is how long you’ll be borrowing for. You can decide how long you want your loan term to be when you apply

How much interest will I pay?

This will be decided by your lender, based on your financial history and your credit rating

Usually, the longer your loan term, the lower your monthly repayments will be – but you’re likely to end up paying more interest overall, so it can end up being more expensive.

Who can get a short-term loan?

Whether you opt for a standard short-term loan product or other types of short-term borrowing like a loan or overdraft, the requirements will be similar:

  • 18 or older
  • NZ resident
  • Proof or regular income
  • Proof of address for the past three years
  • Details of bank account
  • Email and mobile details
  • Must not be bankrupt
  • Can pass credit and affordability checks

Peer-to-peer lending?

One option that you may want to explore is peer-to-peer lending, which lets you borrow money directly from investors and savers.

Some peer-to-peer lenders allow you to repay early without penalty, so they can work as a short-term option.

When you compare loans with us you can filter your results to see just peer-to-peer loans.

Credit unions

Credit unions are not-for-profit organisations which pool members’ savings and lend them out to other members.

They tend to be quite flexible, so they might allow borrowing of smaller amounts over shorter terms, or early repayment on loans.

You’ll need to be part of the community. And some ask you to save with them for a certain amount of time before taking out a loan.

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