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Simple, fast, stress-free way to borrow.
Apply online, get a quick decision and once approved, receive your money in 60 minutes*

Step 1

Easy Online Application
Simply fill out the online form. It only takes a few minutes. No paperwork or meetings in person. 100% online.

Step 2

Fast Approval
Once approved, we’ll email you the loan agreement. You can review and e-sign online.

Step 3

Cash In Your Account
Once You’ve e-signed your loan offer. We’ll carry out a few final checks. Once approved, we’ll send your cash within 60 minutes.*

* Applications received after 5.00 pm will receive money by the next morning

What Would You Like To Apply For?

Types of Fast Online Loans NZ
personal loans

Personal Loans
Personal loans usually come with a fixed interest rate and end date. The monthly repayments are set, and you can borrow money as soon as your loan application is approved. But there are specific lending criteria to be met.

payday loans nz

Payday Loans
Do you need an emergency cash loan but can’t wait for your next payday? Take out a payday loan. Here we will guide you on how a payday loan works, the risks involved, and in which situations it can benefit you.

bad credit loans

Bad Credit Loans
Are you suffering from a bad credit score? Want to get a cash injection? Take out a personal loan in New Zealand. Here’s a complete guide on how you can apply and what these loans encompass, so you can make the best decision while choosing a bad credit loan.

beneficiary loans

Beneficiary Loans
Are you a beneficiary and unable to get your loan approved by a bank? Fear not, for our evaluation will assist you in finding a suitable way to get a loan early and according to your financial situation.

instant loans

Instant Loans
Are you unable to get your instant loan approved in New Zealand? Worry not. We have explained here the whys and wherefores of an instant loan for your convenience.

no credit check loans

No Credit Check Loans
Are you suffering from a bad credit score? Want to get a cash injection? Take out a personal loan in New Zealand. Here’s a complete guide on how you can apply and what these loans encompass, so you can make the best decision while choosing a bad credit loan.

Loans for beneficiaries: Get a loan on benefit

Are you a beneficiary and unable to get your loan approved by a bank? Fear not, for our evaluation will assist you in finding a suitable way to get a loan early and according to your financial situation.

A beneficiary loan is a short-term loan eligible for those individuals who receive a government benefit, like public support programs such as Jobseeker Support, Disability Allowance, Sole Parent Support, NZ Superannuation, or Working for Families.

Getting beneficiary loans from traditional banks is pretty challenging and can be time-consuming because of restrictions and lots of paperwork required. Unfortunately, many finance companies also turn beneficiaries away because they don’t believe that a benefit is a viable source of income. In comparison, some lenders would offer beneficiaries loans but at very high-interest rates.

However, the New Zealand Government made some amendments to the Consumer Finance Act in May 2020. The Act encourages responsible lending and states that a lender cannot charge interest and fees more than 100% of the total loan amount.

A beneficiary loan amount is set around $1000-$2000, and if the borrower wishes to increase the limit, they can negotiate. Usually, a lender would increase the limit to convert the beneficiary loan into a personal loan and set it for a more extended period. Furthermore, the amount would be secured against the borrower’s assets.

In New Zealand, a minimum eligibility criterion is required that a beneficiary must fulfill if they wish to take out beneficiary loans. This includes bank statements of the last 90 days, a valid ID, passport, and a driver’s license.

Your lender will also check your credit history to ensure that you can repay. A bad credit score won’t lessen the chance of getting a loan; however, it might incur a higher interest rate.

In addition, you cannot get beneficiary loans if you already have taken out a payday loan and need to pay it back. There are no criteria to judge if you are unemployed. After all, your benefits would be taken as a stable source of income because you are receiving them from the New Zealand Government.

The annual interest rate for taking out a benefit loan in New Zealand ranges from 13.95% to 26.98% but varies between lenders. The rate depends on the borrower’s credit history, the security they offer against the amount, and the loan term.

Nevertheless, getting beneficiary loans from responsible lenders will accrue lower interest rates than taking from others, also called predatory lenders.

Some extra fees & charges may also apply to a beneficiary loan depending upon the amount you have borrowed. Like an establishment fee for processing your loan or an early repayment fee if you want to pay an extra installment or total loan amount.

Beneficiary loans have a short repayment period of about thirty-six months. You can repay beneficiary loans in a week if you wish to. However, the loan term depends on your borrowed amount, how much adequate security you offer, and repayment affordability. Additionally, you can pay the amount in monthly, fortnightly, or weekly loan repayments.

Countless people in New Zealand are living on benefits. Sometimes if you are unemployed and living on job benefits, the extra costs like medical costs or expenses incurred by repairing or moving house may pile up. If it is not taken care of at the right time, the debt may get out of hand. In such a case, you can apply for different types of loans for beneficiaries. The type of loan you can take out depends on your financial position.

Personal loans:

If you suffer from bad credit history, you can still get a personal loan; however, you must have job security.

Furthermore, if you are receiving work and income benefits from the government and want to borrow more than $2000 in loan, you can apply for a personal loan. But, your benefits should be in such an amount that they could cover your repayments.

Personal loans usually have fixed but high-interest rates, but they could be a good choice if you want to borrow a large amount of money in an emergency. There are two kinds of personal loans that you could choose from according to how many benefits you receive:

Secured loans:

If you are unemployed but receiving benefits from the government, you can apply for a secured loan, but you must have some valuable assets to secure it. Nonetheless, you can take out this loan even if you have a poor credit rating because you are already giving up your property as collateral which will provide ample security for your loan.

The interest rates are less for a secured loan, and with your lender’s cooperation, you can extend the loan term for however long you want.

Unsecured loans:

If you don’t have ample security in the form of assets but have a regular income, then you are eligible to apply for an unsecured loan.

Because the lender is taking a risk by not asking for collateral, they will do a credit check to assess your financial situation and comprehend if you are receiving income or benefits and can afford repayment or not. If you have a poor credit score, you might not get rejected, but you may incur a high-interest rate. Because unsecured loans are risky for the lender, they have a short-term repayment plan.

Payday loans for beneficiaries:

Beneficiaries may also apply for a payday loan for immediate cash. The borrower must write a postdated check against the subsequent benefits from the government. The payday lender can either cash the check or have another choice in withdrawing the amount directly from the beneficiaries account.

Although payday loans have a high-interest rate, they don’t require you to give up your asset as collateral. If the borrower defaults, it may result in a higher debt or penalty. But if you are living on benefits, then it means you have a regular income, so there is a lower chance of defaulting. However, if your benefits can’t cover your repayments, it is better to avoid a payday loan.

To apply for benefit loans or also called winz loans, you must be able to fulfill the basic criteria of taking one. You must provide positive references, your current residence situation, and proof of your income to your lender.

Always select a credible and responsible lender while doing the loan agreement. If you have a good credit history, it may take only a little time to get your loan approved. However, you can also apply if you have a poor credit score but are able to afford repayments.

You also have a choice to apply online for a benefit loan, as an online lender often offers a lower annual interest rate than others. But check the interest rate on a loan calculator provided by various sites for the amount you wish to acquire. By using the loan calculator you will get a loan at an affordable rate.

It takes only 4 minutes to fill in the loan application and approximately one hour for the complete documentation and online application process. After your loan is approved, the lender will deposit the amount in your bank account within 24 hours.

The approximate cash loan duration is based on your financial situation, credit score, and the security you can provide.

It usually takes one hour to process your loan application, but how early or late it will be approved depends on what type of loan you have applied for. So, the loan application process depends on the loan details.

Apply Beneficiary loans Now & Get Paid Today.

2 mins application, 1 hour approval, same day payment*