In this article, I would be highlighting the top 8 best personal loans in New Zealand in 2023, which are principally financial products that individuals especially salaried workers can apply for to access funds from a lender for personal use.
They are typically unsecured, meaning they do not require collateral, and can be used for various purposes such as to meet financial emergencies, debt consolidation, home improvements, purchasing a vehicle, or covering unexpected expenses. Borrowers receive a lump sum amount from the lender, which is then repaid over a specific period through regular installments. The loans terms, interest rates, and repayment schedules vary based on the lender’s policies and the borrower’s creditworthiness.
Best Personal Loans in New Zealand 2025
The best personal loans in New Zealand are Loan Direct, NZCU Personal Loan, Harmoney Loan, Gem Finance, Westpac Loan, Lending Crowd and Max Loans. These lending institutions offer instant online personal and business loans with no credit checks and with little or no documentation.
1. Loan Direct
Loan Direct online services offer one of the best and fastest personal loans in New Zealand at competitive interest rates, with approval typically granted within 1-2 hours. Their paperless process makes it easy to apply online, and funds can be paid out on the same day.
Loan Direct provides both secured loans up to 100k and unsecured loans up to 50k, with rates starting from 9.95%. Loan Direct finance team is one of the most experienced in the country and look at all options for you. They can even offer interest rates lower than banks and other finance companies in some cases.
2. NZCU Personal Loan
You can obtain personal loans in New Zealand from NZCU Auckland for various purposes, whether it’s for emergency expenses, purchasing a vehicle, going on holidays or travel, acquiring boats or caravans, making home improvements, buying appliances, or consolidating debt. With competitive interest rates, flexible terms and payments to suit, there are lots of reasons New Zealanders choose a Personal Loan from NZCU.
NZCU Auckland provides personal loans with interest rates ranging from 7.5% to 19.00% per annum. Loans are available from $1,000. Loans are to be repaid by instalments of principal and interest over terms with a minimum of 3 months and a maximum of 5 years. Other terms can be made by arrangement. This hot offer from 7.5% is subject to credit criteria and available for new personal loans.
3. Harmoney Loan
Harmoney is one of the most reputable lending platforms that gives personal loans of up to $2K – $70K in New Zealand with loan term of 3, 5 or 7 years and $150 establishment fee.
Through Harmoney loan platform, you have the option to obtain a loan with secured fixed rates from 7.89% p.a. to 19.49% p.a., while the unsecured fixed rates range from 7.99% p.a. to 22.99% p.a. You have the flexibility to repay on a weekly, fortnightly, or monthly basis. Additionally, the interest rate for your loan remains fixed for the entire duration of the loan.
4. Gem Finance
With Gem Finance, to obtain personal loans in New Zealand is quite easy, you can easily check your interest rate online within 2 minutes without affecting your credit score. The application process is quick, with a response provided in just 60 seconds. You will need to submit necessary documents such as banking statements and identification.
Once approved, you can accept your loan contract digitally. Funds will be available within 24 hours of your online acceptance. Loan amounts start from $2,000, and you have the flexibility to choose weekly, fortnightly, or monthly repayments. The loan terms range from 1 to 7 years, and there are no early repayment fees, allowing you to pay off your loan sooner without any additional charges.
5. Westpac Loan
A Westpac personal loan in New Zealand can let you borrow money to help you pay for the things you need or want, which could be almost anything. The platform provides the opportunity to borrow money for a wide range of needs and financial emergencies. You can choose from flexible repayment options, including fortnightly and monthly repayments.
Depending on your circumstances, you can apply to borrow up to $50,000 or potentially even more. The standard loan terms range from 6 months to 5 years. There are no fees for making additional or lump sum repayments, allowing you to pay off your loan faster if desired.
6. Lending Crowd
Lending Crowd offers highly competitive personal loans in New Zealand with juicy rates, since they operate without the overheads or profit margins associated with banks. By borrowing money from individuals like yourself, without involving a bank or finance company, it becomes a win-win situation for everyone.
Depending on your loan, you have the flexibility to select 2, 3, or 5-year terms that align with your preferred regular payment amount. You can access up to 70k, ensuring you obtain the necessary funds without any hassle. Lending Crowd’s loans are designed to be sensible, simple, and can be conveniently accessed 100% online.
Lending Crowd offers personal and business loans which could be either secured loans [$5,050 – $200,000] and unsecured loans [$2,000 – $50,000] with personal platform fee of $250 – $650 and business platform fee: $450 – $1,500.
7. ANZ loan
To qualify for ANZ loans in New Zealand, you must be at least 18 years old, having a regular income, and ensuring you have sufficient funds left after expenses to cover loan repayments. ANZ provides a convenient repayments calculator to help you determine your repayment amounts and you can easily access up to a 50k loan with up to 5 years repayment plan and a juicy interest rate.
To qualify for a loan in New Zealand, you must be a citizen or permanent resident, or a non-resident with over one year remaining on your work visa. Lastly, you should be able to provide proof of your identity and earnings to proceed with the loan application.
8. Max Loans
Our final pick for the best personal loans in New Zealand is Max Loans, which offers a user-friendly calculator to estimate your borrowing capacity and repayment schedule. But please note that the calculator provides approximate figures and includes estimated interest rates, establishment fee, security registration, and administration fees.
Max Loan offers competitive interest rates starting from 8.99%, flexible loan terms ranging from 1 to 7 years, and a quick and straightforward online application process that takes approximately 5-10 minutes. You can get up to 100k with Max Loan.
Conclusion
We’ve provided you with the best loans in New Zealand with options to suit different borrowing needs. LoanDirect offers fast and paperless loans with competitive rates. NZCU Auckland also offers loans for various purposes with quick approval. Harmoney on the other hand provides flexible loan terms and fixed interest rates. Gem Finance couldn’t be left out as well as they provide easy online applications and quick fund disbursement. Westpac is known for their flexible repayment options.
Lending Crowd also provides sweet rates by connecting borrowers directly with lenders. ANZ loan provides loans with convenient repayment calculators and eligibility criteria. Max Loan which was our last pick also provides user-friendly calculator, competitive rates, and an efficient online application process. Consider these options to find the loan that best fits your needs and financial goals.
