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Find a personal loan for your needs in minutes.

Compare Personal Loan Rates

What is a personal loan?

A personal loan - also known as unsecured loans - is money that is borrowed from a bank, credit union or online lender that you pay back over a set period of time on a fixed monthly payment. You will be charged interest on the money that you borrow, as well as a one-off fee, and you will need to repay the amount borrowed as well as the interest rate charged.

Personal loans in New Zealand are popular and offer convenience for many Kiwis. Getting a personal loan allows you to have access to money immediately while spreading the repayment over a period that suits your budget.

Kiwis from all walks of life apply for personal loans every single day. The most common reasons for taking out a personal loan are for big one-off expenses such as weddings, holidays or funerals, as well as for urgent expenses needed like medical bills or car repairs.

Compare personal loan companies

If you’re in need of a large amount of money fast, and think a personal loan is right for you, don’t sign up to the first loan offer you see online! It’s important to shop around to find the right fit for your budget and needs.

Personal loans are usually available for sums up to $70,000, however interest rates can vary wildly. So whether you’re looking for long or short term loans, make sure you invest time in finding the right personal loan company for you. Here are some of the companies that we compare here at Glimp:

Harmoney

Whatever it is you want to make happen, Harmoney are there to help. Just tell them why you need the money and they’ll kick things off! You get to choose you terms, including your personalised interest, loan amount and length options that work best for you.
You can borrow anywhere from $2,000 to $70,000 with a loan term of 3 or 5 years. All of Harmoney’s loans are unsecured with a fixed rate for the life of your loan. Rates vary from 6.99% to 29.99% per annum, and you can choose to pay monthly, fortnightly or weekly.

TSB

When it comes to personal loans, big or small, TSB have got you covered. TSB offer an affordable way for you to make that purchase you’ve been thinking about, whether it’s a new set of wheels or a long awaited holiday - you can use your personal loan for whatever you like!
You can borrow anything from $1,000 to $30,000, and enjoy a competitive fixed interest rate of 12.95% per annum. You can choose between weekly, fortnightly or monthly repayments to suit your needs, and make additional payments at any time with no hidden charges.

Westpac

Whatever your needs, goals or wants are, you can achieve them with a Westpac Personal Loan. From purchasing a new vehicle to getting on top of debt to making your dream kitchen a reality, Westpac have a tailored solution to suit your needs.
For personal loans between 1 to 5 years, Westpac have great variable rates from 13.95% to 18.95% per annum. With flexible repayment options, competitive interest rates and one easy regular payment, Westpac have everything you need to get the money you want, and fast.

ANZ

At ANZ, you can take out a personal loan for weddings and special events, vehicles, travel, home renovations or to consolidate your debt into one easy to manage loan. They have a team of dedicated personal bankers ready to help you get the personal loan you need.
ANZ have a standard interest rate of 13.90% p.a, and offer simple, flexible and easy to manage payments for your loan. You can borrow anything from $3,000 to $40,000 and choose from weekly, fortnightly or monthly repayments.

Personal Loan FAQ

Personal loans involve taking out and paying back a large sum of money, so it’s only natural for you to have a few questions about it. To help you get a complete understanding of how personal loans in New Zealand work, we’ve listed below the most frequently asked questions about personal loans.

What is a secured loan? What is an unsecured loan? And what is the difference?

A secured loan is a loan where the borrower secures an asset, for example your car, to the lender as collateral for the loan. This acts as a guarantee should the borrower be unable to repay the loan, the lender can take possession of the asset, in this example taking the car.

An unsecured loan is a loan where there is no security, which means a higher risk for the lender.

The main difference between the secured and unsecured loan is the interest rate. As mentioned before, an unsecured loan carries more risk for the lender, so often will come with a higher interest rate compared to an secured loan.

How does it work?

Personal loans allow you to borrow a lump sum of money for a certain purpose or need. Depending on which personal loan company you choose, you are charged a certain amount of interest on the loan - you will have to repay the loan amount, as well as the interest over the term of the loan.
You’ll pay back the loan in fixed scheduled repayments; this amount will vary depending on how your loan term and payment frequency.

Who can get a personal loan?

Every New Zealander can apply for personal loans, in fact many do every day. You can get it as long as you meet the criteria and get approved.

Why might someone get a personal loan?

There are a number of reasons as to why someone might choose to take out a personal loan. The most popular reasons why New Zealanders get loans are urgent money needs (medical bills, house repairs, etc), debt consolidation and big one-off expenses (new car, holidays, weddings, funerals etc).

How much can I borrow? When do I need to repay it?

Most banks have a minimum borrowing amount, which is around $2,000. Personal loans are flexible, and what that means is there is no maximum amount you can borrow nor a date you need to pay it all back by.

How can I manage my personal loan?

Wondering how you’ll manage and stay on top of your personal loan? Most personal loan companies have either a handy app or website feature where you can easily check your loan balance, change your repayment frequency and amount, top up your personal loan or even pay off your loan early.
For those still looking into getting a loan, you can use our NZ personal loan calculator to find the best rates available from the country’s leading loan companies.

When do I need to repay it?

When applying for the loan lenders take into account your income, credit history and savings levels. Lenders do that to assess your ability to repay a personal loan. In doing so, they will also determine a range of suitable repayment terms.

What should I know before getting one?

As getting a loan is a huge financial step, it’s important to fully understand what you’re getting into and what’s involved upfront. Before applying for a personal loan, make sure you check the fine print carefully to see what the terms and conditions of the loan are. Failing to do so may mean paying more money in the long term.
To help you get a thorough understanding of the loan process, here’s 10 Things You Should Consider Before Taking Out a Loan.

Compare with Glimp

With so many different personal loan companies in New Zealand available - all of which are offering flexible repayments and competitive interest rates - it can be hard to know where to begin to enquire about getting a personal loan.
Luckily, you don’t have to spend hours online researching rates - we’ve done the hard work for you! Our personal loans calculator lets you find and compare the best personal loan rates in New Zealand, and you can apply for free!
Just tell us a bit about what you’re looking for - how much you want to borrow, your desired loan term and preferred repayment period - and we’ll bring up all of the available personal loan options and companies best suited to your needs.

What our customers are saying:

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