Finance Now FAQs
It's natural to have questions about finance and loan options. Here are some of the popular FAQs our customer services team answer. If you have another question, call us free on 0800 299 399.
How do I apply for a loan?
How much can I borrow?
What will my repayments be?
What interest rate can I get?
Why is my interest rate higher than what the website says?
How long does it take to apply?
How quickly can I have access to the money?
How long can I take out a loan for?
My Internet application will not let me go past DOB?
When do I need security for a personal loan?
What is a 'Debt Consolidation' loan?
What is a 'Secured' loan?
What is an 'Unsecured' loan?
Rates and Fees
Are there any fees that I have to pay?
Are there fees if I pay off my loan early?
How can I make payments to Finance Now?
Can I make extra payments?
How do I change my Direct Debit payment?
What is eMoney?
Where do I enter my activation code and password?
I have applied “online” why do I need to speak to someone
Why don’t you have a copy of my ID on file?
How many accounts can I have with Finance Now?
Can I apply if I have bad credit?
Why does my car have to have a warrant and be registered?
Why do I need to sign documents when I already have an account with you?
Who can be my witness?
Why do I need include Next of Kin?
I’m self-employed can I apply for a loan?
I don't have an income. Can I use my partners?
I live in Australia can I apply?
Do I have to include Payment Protection Insurance (PPI) with my loan?
I don't have a computer or access to a fax machine, so what are my options?
I don't speak English
I am hard of hearing
Q - How much can I borrow?
A - You can borrow anything from $1,000 to $20,000. If you would like to apply for an amount greater than this, then give us a call on 0800 299 399. Larger loans usually require security which can help reduce your interest rate. Use our loan calculator to adjust repayments to suit your budget.
Q - How long does it take to apply?
A - Completing your application for a personal loan will take less than 20 minutes. You can either apply online here or call us on 0800 299 399. Sometimes we require extra information – we’ll let you know if we need to do this.
Q - How quickly can I have access to the money?
A - Once your application has been approved and you have returned the required documentation back to us, money can be in your account within 24 hours.
Q - What is a 'Secured' loan?
A - A secured loan is a loan where the borrower pledges some asset (e.g. a car, boat, caravan, property) as back-up (security) for the loan. Providing security can help you borrow a larger amount and can help reduce the interest rate we offer you.
Q - When do I need security for a personal loan?
A - As part of our standard credit policy , security is required for larger loans. This is standard practice for most finance companies. Finance Now provides unsecured personal loans up to $4,000.
Q - What is an 'Unsecured' loan?
A - There is no requirement for the borrower to provide any collateral for an unsecured loan. Typically, this means that the amount you can borrow is less and the interest rate charged is normally higher.
Q - How do I apply for a loan?
A - You can apply for a loan in 2 easy ways – you choose what suits you best. Either submit an online application by clicking here or give us a call on 0800 299 399. Alternatively, send us a message and we’ll give you a call at a time that is convenient for you.
Q - I have applied “online” why do I need to speak to someone?
A - As part of our Responsible Lending requirements we need to ensure the information you have provided is accurate. Once your details are confirmed, we can process your application more efficiently.
Q - Where do I enter my activation code and password?
A - Refer to the offer you received in the post or email. It will have a specific url for you to visit to enter your activation code and password.
Q - Are there any fees that I have to pay?
A - Yes. An establishment fee of $250 applies to every personal loan. Some other fees do apply including a monthly service fee – these depend on the type of personal loan you take. Our helpful lending team will fully disclose of any other fees that you have to pay. View our rates and fees page.
Q - What interest rate can I get?
A - We offer competitive rates for personal loans, with rates starting from 12.95% to 29.95%. The rate you will be charged is based on several criteria. These include the type of security provided; value of the security in relation to the loan amount; the amount of money you wish to borrow; your previous credit history with other financial institutions; and your total credit profile. You're circumstance is unique, so your interest rate should be too. To provide you with an interest rate for your loan please complete an application by clicking here or by calling 0800 299 399.
Q - Why is my interest rate higher than what the website says?
A - We always assess your customer profile and set an interest rate suited to your personal circumstances. We believe each individual is unique, so we customise interest rates to match your circumstance.
Q - I’m self-employed can I apply for a loan?
A - Yes. You just need to provide us with evidence of the income you get paid from your business.
Q - I don't have an income. Can I use my partners?
A - Yes, just include your partner as a Joint Borrower when you complete the application form.
Q - I live in Australia can I apply?
A - Yes, you just need a New Zealand bank account and evidence your wages/salary is paid into this account.
Q - How can I make payments to Finance Now?
A - You can make payments to Finance Now via:
- Online banking
- At any branch of Westpac bank
- Direct Debit - if we have your bank account loaded
- Cheque - post to PO Box 1204, Invercargill
Our bank account number is: 03-0931-0358991-00. Remember to include your account reference number
Q - Can I make extra payments?
A - Yes you can. By doing this you will pay your loan back sooner. The benefit to you is you will pay less interest. There will be a one off $10 fee and this is disclosed in your loan agreement.
Q - Are there fees if I pay off my loan early?
A - Yes, and we abide by the Law in regard to what we can charge. The formula is prescribed in regulation 9 or regulation 11 of the Credit Contracts and Consumer Regulations 2004. Call us on 0800 299 399 for more information.
Q - How do I change my Direct Debit payment?
A - All requests to change your direct debit payment must be in writing or by email (from an email registered with Finance Now) and received by Finance Now 24 hours prior to the date the payment is due to be deducted.
Q - How long can I take out a loan for?
A - You can take out a personal loan for between 6 and 60 months. This is called the ‘Term’ of the loan.
Q - Can I apply if I have bad credit?
A - We consider various criteria when assessing your application for a personal loan. If you have ‘bad credit’, such as a recent default to another financial institution, you are unlikely to be approved. If you are not approved we will tell you the reasons for our decision and explain what you will need to do, over a period of time, to improve your likelihood of getting a loan in the future.
Q - Why do I need to sign documents when I already have an account with you?
A - Each account with Finance Now is a separate contract therefore each loan contract requires a signature to become legal and binding.
Q - Who can be my witness?
A - If you are an existing customer of ours your witness can be anyone over the age of 18 years. If you are a new to Finance Now, then we require a Justice of the Peace/and or Police person. Alternatively you can visit your local SBS Bank branch.
Q - Why do I need to include Next of Kin?
A - If you forget to advise us of any changes to your personal contact details, we can contact your next of kin and advise them we have been trying to contact you.
Q - How many accounts can I have with Finance Now?
A - You can have several accounts with Finance Now. However, the total amount you can borrow is limited to what we set as your credit limit. This is determined by a number of factors, including your credit score and your re-payment history.
Q - What is eMoney?
A - eMoney is a free service exclusive to Finance Now customers. Once you have registered, you can check your balance either online or by texting BAL to 580. All text messages are free. Applying for finance through eMoney is faster because we already have your details. Simply check or update your details and you're good to go!*. You can also set up payment reminders, review payments, print statements and update your details so you can manage money your way. *Terms and conditions apply.
Q - What is a 'Debt Consolidation' loan?
A - A Debt Consolidation loan simply means taking out one single loan to pay off several others. The main benefit of putting lots of different loans together (‘consolidating’) is that you’ll have one easy payment to look after and, in most cases, a lower interest rate to pay. Apply now to take control of your finances or give us a call on 0800 299 399 if you would like to know more about how debt consolidation can work for you.
Q - What will my repayments be?
A - Our easy to use loan calculator lets you see what your repayments will be. You can change the amount you borrow and the length of time you want to have the loan for. Please note that the repayment amounts given are based on a rate of 24.95% - your interest rate and repayment amounts will be confirmed when you apply.
Q - Do I have to include Payment Protection Insurance (PPI) with my loan?
A - PPI is an insurance product that covers your loan payment obligations if your income changes and affects your ability to pay. It is optional and a lending consultant can discuss PPI benefits with you.
Q - Why don’t you have a copy of my ID on file?
A - We do not always retain a copy of your identification for our records, however when there is a change to the Law in relation to this, you may find we ask for a copy. You can upload this at the time you complete an online application or email it to us at email@example.com
Q - My Internet application will not let me go past DOB?
A - Please check the format when entering your date of birth. The correct format is DD/MM/YYYY.
Q - Why does my car have to have a warrant and be registered?
A - If you are using your vehicle as security for a loan, a registered and roadworthy vehicle could help reduce your interest rates.
Q - I don't have a computer or access to a fax machine, so what are my options?
A - Call us free on 0800 299 399 and one of our lending experts will be able to help.
Q - I don't speak English
A - Our loan contracts and documentation are all in English, so unfortunately we will be unable to assist non English speaking customers at this stage.
Q - I am hard of hearing
A - You can contact the NZ Relay Help Desk services - available 24 hours a day, seven days a week, 365 days a year.
TTY: 0800 4 713 713
Voice: 0800 4 715 715
Fax: 0800 4 329 697