The Basics
The flexible criteria we use to assess your application is generally more favourable than main stream banks. We verify all information provided in loan applications to ensure accurate details have been provided.
The decisions we make are based on the following key criteria:
Capacity – The ability to repay the loan and existing outgoings
Income – A consistent, stable and proven income is desirable
Security – Providing security can help you borrow a larger amount and can help reduce the interest rate we offer
Credit History – Good, proven credit experience is required or a Guarantor who has this proven track record
What’s a Co-borrower? – A Co-borrower is someone that agrees to help pay your loan repayments if you fall into difficulty. For more information visit the Commerce Commission
No Finance Defaults – No recent payment or loan defaults to other financial institutions
We will assess the above attributes before approving any application for credit. We do this by verifying income, residential address, valuing security, and accessing your credit history.
If your application is not approved we can let you know what you need to do over a period of time to improve the likelihood of obtaining credit in the future.
You can borrow anything from $1,000 to $60,000. Larger loans usually require security which can help reduce your interest rate. Use our loan calculator to adjust repayments to suit your budget.
If you are new customer a current valid New Zealand driver license, current valid New Zealand Passport, a New Zealand Fire Arms Licence; or an Overseas passport (or similar document issued to enable international travel) which contains the name, date of birth, a photograph and the signature of the person to whom the document has been issued, and has been issued by a foreign government, the UN or an agency of the UN. If you do not have any of these documents call us on 0800 299 399 and a lending expert will be able to help.
Completing your application for a personal loan can take less than 20 minutes. Simply apply online here. Sometimes we require extra information – we’ll let you know if we do.
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. We will text you as soon as your loan is paid out.
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.
As part of our standard credit policy, security is required for larger loans. This is standard practice for most finance companies.
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.
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.
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.
Yes. An establishment fee of $215 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.
Interest Rates
We offer competitive rates for personal loans, with rates starting from 12.95% to 28.95%. 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.
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.
Yes. You just need to provide us with evidence of the income you get paid from your business.
Yes, just include your partner as a Joint Borrower when you complete the application form.
No, all applicants must reside in New Zealand when applying for finance.
Yes. An establishment fee of $215 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.
Payments
You can make payments to Finance Now via:
- Direct Debit
- Automatic Payment
- Online banking
Our bank account number is: 03-0931-0358991-00. Remember to include your account number as reference
Yes, you can make extra payments. The benefit of making extra payments is that you may pay less interest. By paying more than the monthly instalment on your loan contract, you may also pay your loan off earlier than the end date of your loan contract. Paying off your loan early may mean you need to pay an early termination fee or charge – check your disclosure statement for details.
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.
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.
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 indicative only and based on a rate of 16.95% – your interest rate and repayment amounts will be confirmed when you apply.
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.
You can take out a personal loan for between 6 and 60 months. This is called the ‘Term’ of the loan.
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.
Each account with Finance Now is a separate contract therefore each loan contract requires a signature to become legal and binding.
If you are an existing customer of ours your witness can be anyone over the age of 18 years. If you are new to Finance Now, then we require a Justice of the Peace, A Lawyer, Solicitor or Barrister, or a Member of the Police. Alternatively, you can visit your local SBS Bank branch.
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.
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.
Please check the format when entering your date of birth. The correct format is DD/MM/YYYY.
If you are using your vehicle as security for a loan, a registered and roadworthy vehicle could help reduce your interest rates.
Call us free on 0800 299 399 and one of our lending experts will be able to help.
Our loan contracts and documentation are all in English, so unfortunately we will be unable to assist non English speaking customers.
You can contact the NZ Relay Help Desk services – available 24 hours a day, seven days a week, 365 days a year. www.nzrelay.co.nz
Account
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.
When you need to contact us to update your details, we’ll ask you a few questions as part of our standard ID verification process
- call us on 0800 299 399
- email us at info@financenow.co.nz
- log into eMoney and send us a chat message
You can contact the following Trusted Referees to verify your original documents
- Member of the Police;
- A Justice of the Peace;
- A lawyer, solicitor, or barrister;
- A Notary public;
- A Member of Parliament;
- A Chartered Accountant; or
- A person who has the legal authority to take statutory declarations.
Your chosen Trusted Referee must:
- Be 16 years old or more;
- Not related to you;
- Not be your spouse or partner;
- Not live with you; and
- Not involved in the transaction or business requiring the certification.
The certification needs to:
- Include the trusted referee’s name, signature, and their position or role (which indicates their capacity to act as a trusted referee);
- Include a statement from the trusted referee that the document(s) provided is a true copy of the original, and represents the identity of the named individual.
Document Certification is having a person, called a Trusted Referee, confirm that the documents you provide to us match the original versions and belong to you. It helps us to make sure we’re lending money to you, and not someone pretending to be you.
What do I have to do?
Photocopy your document(s). Take the photocopy and the original document to a Trusted Referee. They will compare the copy to the original, and if the document has your photograph on it, they’ll compare that photograph to you.
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.
You can, as long as the certification was done within the last 3 months
Bankstatements.co.nz is a tool provided by Illion to help customers and their lenders to access and assess information contained on customers’ bank statements. Finance Now needs information about your income and expenses to assess your application as a requirement of the CCCFA Responsible Lending Act enacted by the government 1 December 2021.
By using this service, you can simply and securely provide this information to them.