Retail Finance Interest Rates and Fees
Over 1,500 retail stores throughout New Zealand use our Credit Sales facility. From furniture to home electronics, car accessories to musical instruments, we provide retail finance solution to a wide range of retail providers.
Our retailers can provide a wide range of credit options that can vary throughout the year depending on what they utilise for promotion. This can include the following products:
Download a PDF of our Rates and Fees
A standard interest bearing contract that allows you to pay for the goods at a fixed rate over a fixed period of time. The first payment is due 1 month from the contract start date with terms available from 3 to 48 months.
Our current average interest is 15.71%.
All of our Retailers can provide you with a full quote including all interest rates, fees and total repayments at their store. We recommend you obtain and review the quote carefully within prior to proceeding with any finance contract.
Deferred Interest Bearing
This is where your first payment is deferred for an agreed period, and is an interest contract that allows you to pay for the goods at a fixed interest rate over a fixed period of time. The first payment is delayed by the deferred period which can be from 3 to 12 months. The contract accrues interest over the full term including the deferred term.
Combination of Interest Free to Interest Bearing
This is a combined interest free/interest bearing contract. The interest free period is a monthly interest free period with the 1st payment being due 1 month from the contract start date. At the end of the interest free period you start paying interest on the agreed / contracted interest rate on the balance outstanding over the remaining term (you may pay off the balance at any time). If you pay off the contract within the interest free period you are only required to pay the amount borrowed plus any fees.
Interest free terms are available from 3 to 36 months with a total term of up to 48 months being available.
A standard interest free contract that allows you to pay for the goods over a fixed period of time with no interest payable. The 1st payment being due 1 month from the contract start date. Terms are available from 3 to 48 months.
Deferred Interest Free
This is an interest free contract but the first payment is deferred for an agreed period with the payments spread over the remainder of the term. The contract term is all interest free. The deferred period available is from 3 to 18 months with a total term of up to 48 months.
Combo Deferred Interest Free to Interest Bearing
This is a combo product where you receive a deferred interest free period followed by an interest bearing period. You are only charged interest from the date the deferred interest free period ends. The interest free period is deferred with the 1st payment being due at the end of the selected deferred period from the contract start date. At the end of the deferred period, the interest free period begins for an agreed period with the 1st monthly payment being due 1 month from the Interest free period start date. At the end of the interest free period as agreed in the contract terms, the annual interest rate is charged on the outstanding balance over the remaining term (you may pay off the balance at any time). If you pay off the contract within the interest free period they are only required to pay the amount borrowed plus any applicable fees.
Based on the retailers product type they can offer a wide range of interest rates and terms available from 3 to 48 months. To obtain their latest offering you will need to enquire in store where one of their staff can provide you with the details of their current finance deal including current interest rates and fees.
Retail Finance Interest Rates can range from 0% to 27.95% per annum.
This equates to approximately $0 to $156 of interest charged per $1000 borrowed per annum
Retail Finance Rates and Fees
The following credit fees and charges (which are not included in the Amount Financed) are, or may become, payable under, or in connection with, this Agreement. FNL may vary these fees and charges. Administration costs and fees payable on full prepayment are disclosed under the Full Prepayment heading.
Our Establishment Fee for finance is only applicable to approved contracts and the rates vary by retailer from $25 to $75. This is a one off charge and is included in your monthly payment – please note no interest is charged (if applicable) on this fee.
$3.50 Third party correspondence and statement requests
Third party costs - $10 administration charge
Refund overpayment - lesser of $10 or account balance
$95 loan variation
$1.75 Monthly Service Fee (included in monthly payments and only charged for the length of your term loan)
Default Interest Charges and Default Fees
In the event of a default in payment and while the default continues you must pay the default interest charges. Default interest is payable in accordance with the Default Interest clause in the supplied Terms and Conditions at the greater rate of F + 5% per annum and 28% per annum where “F” = the Annual Interest Rate show above. In the event of a breach of the Agreement or on the enforcement of the Agreement, the default fees specified below are also payable. FNL may vary these fees and charges.
$10 dishonour payment
Broken arrangement - $15 in each instance
Written correspondence - $10 in each case
Sample of Secured/Unsecured Loan Agreement & Disclosure Statement
When you take out a Secured/Unsecured loan with us, you will receive an Agreement that discloses all your loan details.
Please download our example and familiarise yourself with the content to understand your rights and obligations.