Have bad credit is one of the bad things that no one wants to have. Because, if having a low credit score, customers are hard to get a loan in New Zealand. However, nowadays there are more and more lenders such as credit unions offers personal loans for people having not good credit. This post introduces to you four types of bad credit loans NZ.

Bad credit loans NZ
People can get bad credit loans NZ from a lot of lenders

In the previous post, Loansaustralia.net introduces people to some of the necessary information that is useful for getting the payday loans NZ, to get more information people can read the article Customers can get easily payday loans NZ by two ways. Now, let find knowledge about bad credit loans in New Zealand in the post today.


Just like a lot of article posts about personal loans for bad credit, quick cash loans, personal loans for bad credit, no credit check loans…. this post about the bad credit loans New Zealand also includes some main parts. They are:

1. Some types of bad credit loans in New Zealand

Secured personal loans. If you can provide collateral, such as a car, home equity or another high-value asset, lenders may be willing to ignore some negative signs in the lake. Your credit profile.

Personal loan guarantee. Do you have a partner, close friend or relative willing to secure your loan? If so, you may be eligible for a guarantor’s personal loan. Some bad credit lenders offer the right products that you might want to consider.

Short-term loans. Do you only seek to borrow up to $ 2,000? Then you can consider a short-term loan from a day lender. These lenders focus less on your credit history and more on your current financial situation and your ability to repay.

Large amounts of bad credit loans: If you need to borrow more than $ 2,000 and have bad credit, some providers offer these loans, for example, Harmoney offers loans of up to $ 20,000. You can also find some lenders who offer more significant loans, for example, Geneva Finance provides car loans of up to $ 65,000. However, please think carefully about the amount of money you can comfortably afford to repay from your income.

2. The interest rate and fees of bad credit loans in New Zealand 

This depends on the lender you apply and the type of loan. Below is an example of a typical lender’s rates and fees:

  • Loan provider: Instant Finance provides loans from 200 to 20,000 dollars
  • Interest rate: from 19.95% to 29.95%.
  • Loan term: 3 months to 3 years
  • Establishment fee: $ 300 for a loan of between $ 1,000 and $ 3,000
  • Early repayment fee: fee: $ 100 (plus cost)
Bad credit loans NZ
People can get bad credit loans NZ from a lot of lenders

3. Somethings you need to void if having bad credit

There are risks associated with loans for people with bad credit. Avoid the pitfalls outlined below:

  • Unwary. Make sure you only choose a reputable company.
  • Do not consider affordability. Think carefully before registering a bad credit loan of up to $ 5,000. The repayment period is shorter than standard loans, which means your repayments are quite high. Lenders often provide computers to display a sign of your repayment.
  • Do not consider fees and interest rates. Lenders charge you interest, as well as fees and other fees. Check these before you apply and consider the total cost of the loan.

4. Some benefits if you get bad credit loans in NZ online

  • Customers can receive a cash loan to Customers’ bank account within 60 minutes after it is approved.
  • Customers do not need to print or sign any documents, instead, customers can sign an online loan contract with a mouse or touchpad.
  • Customers can know exactly how much customers can borrow and at a cost with the customized emergency loan calculator.
  • Customers can do all this with the 3-Step Process of lenders, where customers can get cash loans as quickly and easily as possible.
  • Customers can apply for a loan at any time because the online form of lenders is available 24/7.
  • Customers can borrow from $ 100 to $ 500 for the first cash loan and up to $ 1,000 the next time despite customers’ credit history.

This post is about bad credit loans in New Zealand. We provide this information to offer you some of the necessary information that is useful for getting bad credit loans from the lender in New Zealand. Also if you are looking for information about the personal loans NZ, please refer to the You can choose one of seven types of personal loans NZ link we just provided in the previous article.

Anita (Team Content) – Bad credit loans NZ