MoneyHub NZ
  • Search
  • Investing
    • Investing Platforms
      • Reviews
        • Sharesies Review
        • Hatch Review
        • Stake Review
        • Tiger Brokers (NZ) Review
        • Superhero Review
        • BlackBull Markets Share Trading Platform Review
        • ASB Securities Review
        • Jarden Direct Review
        • InvestNow Review
        • Kernel Review
        • Flint Wealth Review
        • Interactive Brokers
        • Smartshares Review
        • Catalist Review
      • Comparisons
        • Sharesies vs Hatch vs Stake
        • Hatch vs Stake
        • Hatch vs Tiger Brokers
        • Sharesies vs Tiger Brokers
        • Stake vs Tiger Brokers
        • Comparing Sharesies vs Investnow vs Hatch vs Jarden Direct and more
        • Best Investment Apps
        • How Do I Start Investing?
        • Virtual Stocks and Shares Trading Games
      • Guides
        • How to Invest in Shares
        • Investing in Vanguard Funds from New Zealand
        • Investing in the US Stock Market from New Zealand
          • How To Buy Tesla Shares
          • How To Buy Apple Shares
          • How To Buy Amazon Shares
          • How To Buy Alphabet Shares
          • How To Buy Netflix Shares
          • How To Buy Microsoft Shares
          • How To Buy Meta Shares
        • What Happens If Your Investing Platform Shuts Down?
        • Fractional Shares
        • Transferring Share Portfolios
        • How to Read and Understand a Share Chart
        • NZX in a Nutshell
        • Investing in Asian Markets from New Zealand
        • Understand Gross vs Net
    • Introduction to Investing
      • Guides
        • Index Funds
        • 10 Ways to Invest in New Zealand
        • How to Invest Regularly
        • Passive Investing vs Active Investing
        • Investments You Can Own Forever
        • Investing Mistakes
        • ETFs (Exchange Traded Funds)
        • Best Retirement Income Products in New Zealand
        • Index Funds vs ETFs
        • Shares vs ETFs
        • Dollar-Cost Averaging Guide
        • Passive Income Strategies
        • How Wealthy New Zealanders Invest Their Money
        • The Best Way to Invest Inheritance or a Windfall
        • Barefoot Investor-Friendly Financial Products in New Zealand
        • Investment Terms Glossary
        • IPOs
        • Investing in Dividend Shares
        • Common Shareholder Numbers in New Zealand
        • Shorting a Stock
        • Investing vs Trading vs Gambling
      • Young People and Investing
        • Investing for Kids
        • Investing For Grandchildren
        • 10 Top Investments for Young New Zealanders
        • Sharesies Kids Accounts Review
        • SquareOne Review
        • Dosh Review
      • Investing Calculators
        • Compound Interest Calculator
        • Investment Calculator
        • Savings Calculator
        • Net Worth Calculator
        • Million Dollar Calculator
    • Managed Funds, Tax & DIY Investing
      • Guides
        • Investing Guide
        • Our Favourite Funds
        • Advisers
          • Financial Advisers Overview
          • DIY Investing vs Investment Brokerage Firms vs Financial Advisors
          • Financial Advisers Auckland
          • Financial Advisers Wellington
          • Financial Advisers Christchurch
        • Bank Credit Ratings
        • Tax on Investments and Savings
        • Capital Gains Tax
        • Bright-Line Test
        • Ethical Investing
        • Best ESG Funds
        • Asset Allocations to Build Wealth
        • Managing Offshore Investments for Returning New Zealanders and Migrants
        • Managed Funds
          • Booster Private Land and Property Fund Review
        • How to Buy and Sell Bonds
        • Buying NZ Corporate Bonds
        • Trading in a Nutshell
        • Peer to Peer Lending
        • Crowd Funding Guide
        • REITs Guide
        • Jasper Review
        • Investing & Personal Finance Podcasts
        • Emergency Funds
        • UK Pension Transfer to New Zealand
        • Returning to the UK from NZ
        • Spending Your Savings in Retirement
        • How to Take Income from Investments
        • What Am I Entitled to If My UK Pension Scheme or Provider Makes a Mistake?
        • Investment Scams
        • Investing in Recession-Proof Sectors and Asset Classes During a Downturn
        • Hedging Investments
        • Top Personal Finance Books for New Zealanders
        • Top Ten Personal Finance Resources
      • Reviews
        • Simplicity Investment Funds Review
        • Lending Crowd Review
        • Squirrel Review
        • Sharesight Review
        • Lifetime Retirement Income
        • New Zealand Financial Markets Authority (FMA)
      • Calculators
        • Managed Funds Fee Calculator
        • Basis Points Calculator
        • Inflation Calculator
        • Retirement Calculator New Zealand
    • Alternative Investments and Trading
      • Reviews
        • BlackBull Markets Review
        • CMC Markets Review
        • Plus500 Review
        • IG Review
        • TMGM Review
        • CMC Markets vs Plus500 vs IG Markets vs BlackBull Markets
      • Guides
        • How to Invest in Gold
        • How to Invest in Silver
        • Forex Trading Guide
        • Options Trading
        • Contracts for Difference (CFDs) Guide
        • Futures Trading
        • Commodities Trading
        • Forex Trading Tools
        • Forex Trading Platforms Comparison
        • Forex Trading Courses and Education
        • Forex Regulation
        • Copy Trading
    • Cryptocurrency
      • Reviews
        • Easy Crypto Review
        • Swyftx Review
        • Binance Review
        • Easy Crypto vs Swyftx
        • Independent Reserve Review
        • eToro Review
        • Coinbase Review
        • Kiwi-Coin Bitcoin Exchange Review
        • Vault International Bitcoin Fund Review
      • Guides
        • How to Buy Bitcoin in New Zealand
        • Beginner's Guide to Bitcoin and Blockchain
        • Guide to NFTs
        • Bitcoin Wallet Guide
        • Bitcoin Mining
        • How to Sell Bitcoin
        • Bitcoin and Crypto Scams
        • Initial Coin Offerings
        • A Beginner’s Guide to Investing in Cryptocurrencies
        • Decentralised Finance
        • Bitcoin in New Zealand
        • New Zealand Bitcoin Exchanges
        • How to Buy Ethereum in New Zealand
        • Other Coins
          • How to Buy Ripple in New Zealand
          • How to Buy Cardano in New Zealand
          • How to Buy Dogecoin in New Zealand
          • How to Buy Litecoin in New Zealand
          • How to Buy Polkadot in New Zealand
  • Loans & Finance
    • Car Finance
      • Car Finance Calculator
      • Electric Vehicle Loans
      • How to Refinance Your Car Loan
      • Car Loan Refinance Calculator
      • Car Dealership Finance vs Alternatives
      • Bad Credit Car Loans
      • Car Finance Company Reviews
        • AA Money Review
        • Better Finance Review
        • Kiwi Car Loans Review
        • MTF Finance Review
        • Simplify Loans Review
        • Car Loan Brokers vs Direct Car Finance
      • Car Finance Must-Knows Guides
        • Buying a Car Loan vs Personal Loan?
        • Car Loans and Collateral
        • Car Loan Guarantors
        • How to Save for a Car
        • Paying Cash for a Car vs Car Finance
        • Balloon Payments
      • Car Finance Add-On Insurance Guides
        • GAP (Guaranteed Asset Protection Insurance) Insurance
        • MBI (Mechanical Breakdown Insurance)
        • PPI (Payment Protection Insurance)
    • Personal Loans
      • Debt Consolidation Loans
      • Secured Loans
      • Home Renovation Loans
      • Online Loans
      • Bad Credit Loans
      • Beneficiary Loans
      • Payday Loans
      • Cash Advance
      • Same Day Loans
      • Low Income Loans
      • Personal Loan Calculator
      • Debt Consolidation Calculator
      • Refinance Personal Loan Calculator
      • Home Renovation Loan Calculator
      • Interest Calculator
      • Harmoney Loans Review
      • Nectar Review
      • Avanti Finance Review
      • Save My Bacon Review
    • Credit Scores & Interest Rates
      • Credit Scores and Credit Checks
      • How to Build Credit in New Zealand
      • How to Pay Down Debt Faster
      • Baycorp and Debt Collection
      • Interest Rates Guide
      • Interest Rate Comparison
      • Buy Now Pay Later Apps
        • Afterpay Review
        • Laybuy Review
        • Humm Review
        • Zip Review
  • Insurance
    • Car Insurance
      • Guides
        • How to Get Cheaper Car Insurance
        • Car Insurance Calculator
        • No Claims Bonuses Explained
        • Car Insurance Excess Explained
        • Cheapest Cars to Insure
        • Modifications that Make a Car Uninsurable
        • Car Insurers Directory
        • Car Insurance Glossary
      • Reviews
        • Tower Car Insurance Review
        • Cove Car Insurance Review
        • Trade Me Car Insurance Review
      • AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance
      • Young Driver Car Insurance
      • Third Party Car Insurance
      • Caravan Insurance
    • Home, Contents and Other Insurance
      • House Insurance
      • House Insurance Calculator
      • Difficult to Insure Areas
      • Insuring Old Houses
      • Contents Insurance
      • Home and Contents Insurance
      • Renters' Insurance
      • Landlord Insurance
      • Dental Insurance and Dentist Plans
      • Phone Insurance
      • Insurance Excess
      • Motorbike Insurance
      • Initio Review
      • Insurance Brokers
        • Trusted Insurance Brokers in Wellington
        • Trusted Insurance Brokers in Christchurch
    • Pet Insurance
      • Is Pet Insurance Worth Buying?
      • Cat and Dog Desexing
      • Getting a Kitten
      • Buying a Puppy
      • Pet Euthanasia
      • Vet Costs in New Zealand
      • Costs of Owning a Cat
      • Costs of Owning a Dog
    • Life & Health Insurance
      • Life Insurance
        • Life Insurance Policy Comparison - Cigna vs AIA vs Asteron Life vs Fidelity vs Westpac vs Partners Life
        • Life Insurance Calculator
        • Pre-Existing Medical Conditions
        • Buying Life Insurance Direct vs Using an Insurance Broker
        • Life Insurance Policies - Features and Questions to Ask
        • When To Cancel Or Change a Life Insurance Policy
        • Life Insurance For Smokers and Vapers
      • Health Insurance
        • Going to Australia for Medical Treatment
      • Income Protection Insurance
        • ACC vs Income Protection Insurance
        • Income Protection Insurance for Self Employed
      • Mortgage Insurance
      • Trauma Insurance
      • Redundancy Insurance
      • Funeral Insurance
        • What to Do When a Spouse or Partner Dies
        • Funeral Costs
  • Credit Cards
    • Best Credit Cards
    • Rewards and Cashback Credit Cards
    • The Best American Express Credit Cards
    • Air New Zealand Airpoints Credit Cards
      • ANZ vs AMEX vs Kiwibank vs Westpac Platinum Airpoints Credit Cards
      • ANZ Airpoints Visa Platinum vs AMEX Airpoints Platinum
      • Kiwibank Airpoints Platinum Visa vs AMEX Airpoints Platinum
      • Westpac Airpoints Platinum Mastercard vs AMEX Airpoints Platinum
    • Balance Transfer Credit Cards
    • Platinum and Gold Credit Cards
    • Reviews
      • American Express Credit Cards Review
        • American Express Airpoints Platinum Review
        • American Express Gold Rewards Card Review
        • AMEX Comparison - Airpoints Platinum vs Gold Rewards
        • American Express Free Card vs Airpoints Platinum
        • American Express Platinum Card Review
        • American Express Membership Rewards Program Review
        • AMEX Cardholder Feedback
        • The Best Ways to Spend AMEX Membership Rewards Points
        • Qantas Credit Cards
        • Singapore Airlines KrisFlyer Credit Cards
        • Cathay Pacific Asia Miles Credit Cards
        • Emirates Skywards Credit Cards
        • RewardPay Review
      • Flight Centre Mastercard Review
    • Guides
      • Pay Off Credit Card Debt
      • Credit Card Basics
      • Mastercard vs Visa
      • Credit Card Minimum Payments Explained
      • Where is Amex Accepted?
      • Credit Card Interest Calculator
      • How to Request a Credit Card Chargeback
    • Other Credit Cards
      • Travel Money Cards
        • Australia Travel Money
        • Bali Travel Money
        • Fiji Travel Money
        • Rarotonga Travel Money
        • UK Travel Money
      • Wise Debit Card Review
      • Revolut Review
      • Revolut vs Wise - Which Is Better?
      • Travelex Money Card vs Wise Debit Card Comparison
      • OneSmart Card vs Wise Debit Card Comparison
      • Cash Passport vs Wise Debit Card Comparison
      • Best Foreign Currency Debit & Credit Cards
      • Free Credit Cards
      • Low Interest Credit Cards
      • Credit Cards for Bad Credit
      • Q Card & Q Mastercard Review
      • GEM Visa Review
      • Onecard Visa Review
      • Purple Visa Review
  • Banking & Savings
    • Banking
      • Best Bank Accounts
      • Best Debit Cards
      • Best Joint Bank Accounts
      • Kids Bank Accounts
      • Cut Overdraft Costs
      • Private Banking
      • International Money Transfers
      • Open an Australian Bank Account from New Zealand
      • Open a UK Bank Account from New Zealand
    • Savings
      • Best Term Deposits
      • Booster Savvy Review
      • Best PIE Term Deposits
      • Best Call Accounts
      • Best Savings Accounts
      • Term Deposit Alternatives
    • Guides and Resources
      • Banks vs Credit Unions
      • Open Banking Guide
      • NZ Bank Prefix Codes
    • Reviews
      • Wise International Money Transfer Review
      • Heartland Bank Review
      • First Credit Union Review
      • NZCU Baywide Review
      • The Co-operative Bank NZ Review
      • Western Union Review
  • Mortgages
    • Mortgage Essentials
      • Best Home Loans
      • Mortgage Calculator
      • How Much Can I Borrow?
      • Debt to Income Ratios
      • Equity (and Leverage) Calculator
      • Mortgage Repayment Calculator
      • Mortgage Options
      • Mortgage Cashback
    • Other Mortgage Options
      • Interest-Only Mortgages Guide
      • Interest-Only Mortgage Calculator
      • Revolving Credit Mortgages
      • Offset Mortgages
      • Offset Mortgage Calculator
      • Fixed vs Floating Mortgage Rate Calculator
      • Understanding Interest Rate Swaps
      • What is the OCR?
    • Alternative Mortgage Options
      • Low-Deposit Home Loans
      • Rent to Own Homes
      • First Home Loan Guide
      • Reverse Mortgages
    • Mortgage Management
      • Saving for a House Deposit
      • Pay Off Your Mortgage Faster
      • Mortgage Overpayment Calculator
      • Remortgaging Guide
      • Mortgage Relief and Holidays
      • Amortisation Calculator
      • Mortgage Break Fees
      • Defaulting on a Mortgage
      • High Deposit Mortgages
      • Negative Equity
      • How to Manage Higher Mortgage Payments
      • Mortgage Refinance Calculator
    • Mortgage Brokers
      • Mortgage Brokers Explained
      • Trusted Auckland Mortgage Brokers
      • Trusted Hamilton Mortgage Brokers
      • Trusted Mortgage Brokers in Tauranga
      • Trusted Mortgage Brokers in Napier and Hastings
      • Trusted Mortgage Brokers in Wellington
      • Trusted Mortgage Brokers in Christchurch
    • Buying a Home
      • First Home Buyers Checklist
      • Home Buying Glossary
      • Best House Price & Valuation Websites in New Zealand
      • New Zealand Property Types
      • Rateable Value vs Market Value
      • Leasehold Property Guide
      • Conveyancing vs Lawyers
      • Buying an Apartment in New Zealand
      • Buying vs Renting a House
    • Selling a Home
      • How to Sell Your House Privately
      • Real Estate Agent Fees
      • Bridging Finance
    • Property Investment
      • Investment Property Mortgages
      • Renting Directly to Tenants vs Using an Agent
    • Building a House
      • Average Building Cost Per Square Metre
      • Cost to Build a New House
      • Buying Land to Build a House
      • Construction Loans
      • Tiny Homes in New Zealand
  • KiwiSaver
    • KiwiSaver Basics
      • Our Favourite KiwiSaver Funds
      • Is KiwiSaver Safe?
      • Choosing a KiwiSaver Fund
      • Choosing Your KiwiSaver Scheme
      • Balanced vs Moderate vs Growth KiwiSaver Funds - What is right for me?
      • KiwiSaver Must-Know Facts
      • Opting out of KiwiSaver
      • What Do I Do With My KiwiSaver When I Retire?
      • KiwiSaver Withdrawal
      • Switching KiwiSaver Funds
      • KiwiSaver Robo and Digital Advice Tools
      • Ethical Kiwisaver Funds
      • KiwiSaver Private Equity Investments
    • KiwiSaver Contributions & Tax
      • Your KiwiSaver Contributions
      • KiwiSaver Contributions - Gross or Net?
      • Employer KiwiSaver Contributions
      • Government KiwiSaver Contributions
      • KiwiSaver Savings Suspensions
      • Voluntary Contributions
      • What's My PIR?
      • KiwiSaver and Tax
    • KiwiSaver for Life Events and Specific Situations
      • Average KiwiSaver Balance by Age
      • KiwiSaver First-Home Withdrawal
      • KiwiSaver First Home Grant Guide
      • KiwiSaver Hardship Applications
      • KiwiSaver in a Divorce or Separation
      • KiwiSaver for Kids
    • KiwiSaver Schemes
      • Amanah KiwiSaver Scheme
      • AMP KiwiSaver Scheme
      • ANZ KiwiSaver Scheme
      • ASB KiwiSaver Scheme
      • AON KiwiSaver Scheme
      • BNZ KiwiSaver Scheme
      • Booster KiwiSaver Scheme
      • Fisher Funds KiwiSaver Scheme
      • Generate KiwiSaver Scheme
      • InvestNow KiwiSaver Scheme
      • JUNO KiwiSaver Scheme
      • Kernel KiwiSaver Review
      • Kiwi Wealth KiwiSaver Scheme
      • kōura Wealth KiwiSaver Review
      • Lifestages KiwiSaver Scheme
      • MAS KiwiSaver Scheme
        • MAS Review
      • Mercer KiwiSaver Scheme
      • Milford KiwiSaver Plan
      • New Zealand Defence Force KiwiSaver Scheme
      • Nikko AM KiwiSaver Scheme
      • Pathfinder KiwiSaver Review
      • QuayStreet KiwiSaver Scheme
      • Simplicity KiwiSaver Review
      • Summer KiwiSaver Scheme
      • SuperLife Review
      • Westpac KiwiSaver Scheme
    • KiwiSaver Calculators
      • KiwiSaver Calculator
      • KiwiSaver Returns Calculator
  • Business
    • Compare Business Loans
      • Business Line of Credit
      • Business Borrowing Options
      • Small Business Loans
      • Operating Leases
      • Finance Leases
      • Operating Leases vs Financing Leases
      • Prospa Business Loans Review
      • Bizcap Business Loans Review
    • Business Insurance
      • Public Liability Insurance
      • Business Interruption Insurance
      • Professional Indemnity Insurance
    • Business Credit Cards
    • Business Essentials
      • Money Saving Tips For Businesses
      • Get Debtors to Pay Overdue Invoices
      • Working Capital
      • Liquidations and Receiverships
      • Can't Make Payroll Guide
      • Buying out a Business Partner
      • Business Brokers
    • Business Calculators
      • Business Loan Calculator
      • ROI Calculator
      • IRR Calculator
      • Internal Rate of Return
      • Percent Off Calculator
      • Profit Margin Calculator
      • Current Ratio Calculator
      • Quick Ratio Calculator
    • Online Services
      • Domain Names
      • Trusted Web Designers
        • Auckland Web Designers
        • Hamilton Web Designers
        • Wellington Web Designers
        • Christchurch Web Designers
        • Tauranga Web Designers
        • Lower Hutt Web Designers
        • Dunedin Web Designers
      • Digital Identity Programs and Online Verification Tools
      • Social Media Influencer Marketing
      • PayPal NZ Account Fees
      • Paypal vs Stripe Review
      • Hnry Review
      • n3 Trade Card Review
      • Plain English Awards
    • For Startups
      • How to Start a Business in New Zealand
      • Raising Capital
      • Product Market Fit
      • Crowdfunding vs Bank Financing
      • Blackbird vs Movac
      • How to Become an Angel Investor
      • How to Raise Money from Angel Investors
      • Alternatives to VC Funding
      • Hiring for a Startup
      • VCFO (Virtual CFO)
      • New Zealand Startup and Founder Incubators
      • Expanding Offshore
      • New Zealand Invoice Template
      • Business Podcasts
  • MSD
    • Navigating Work and Income Benefits
    • Jobseeker Support Benefit Rates 2023 and 2024
    • Jobseeker Support Guide
    • Accommodation Supplement Guide
    • Disability Allowance
    • MyMSD
    • Community Services Card
    • Hardship Assistance - Urgent Costs and Living Expense Assistance
    • Loans for Unemployed
    • Working for Families Guide
    • Childcare Subsidies in New Zealand
    • NZ Superannuation in a Nutshell
    • Superannuation Rates 2023
    • Government Departments Helping New Zealanders Directly
    • COVID-19 Help
    • Food Grants Guide
    • Food Banks Directory
      • Food Banks Auckland
      • Food Banks Northland
      • Food Banks Hamilton Waikato
      • Food Banks Wellington
      • Food Banks Christchurch
  • Motoring
    • Buying and Selling a Car
      • Car Valuations
      • Buying a Used Car
      • Selling a Car
      • CarJam Review
      • CarJam vs MotorWeb Car Report Comparison
      • Top Cars that Hold Their Value
      • Vehicle Leasing
      • Car Registration in New Zealand
    • Everyday Driving
      • Costs of Owning a Car
      • 20 Ways to Make Driving Cheaper
      • Gaspy App Review
      • Parking Tickets
      • AA Membership Review
      • Best Car Batteries
      • Best Electric Cars
    • Warrant of Fitness
      • Guide to Warrant of Fitness
      • Warrant of Fitness Auckland
      • Warrant of Fitness Hamilton
      • Warrant of Fitness Tauranga
      • Warrant of Fitness Lower Hutt
      • Warrant of Fitness Wellington
      • Warrant of Fitness Christchurch
      • Warrant of Fitness Dunedin
  • Law
    • Wills Guide
    • Separation Agreements
    • Prenuptial Agreements
    • Divorce Guide
    • Trusts Guide
    • Enduring Power of Attorney Guide
    • Living Wills Guide
    • Probate
    • Agreeable Review
    • Footprint Online Wills Review
    • Perpetual Guardian
  • Job Hunting
    • Job Applications
      • CV Templates & Tips
      • Cover Letters
      • Common Interview Questions
    • Guides & Resources
      • How to Improve Your LinkedIn Profile
      • Part-Time Jobs Guide
      • Redundancy Payouts and Entitlements
      • How to Get Promoted
      • Self-Employment Guide
      • Workplace Bullying
    • Recruitment Agencies
      • Recruitment Agencies Auckland
      • Recruitment Agencies Wellington
      • Recruitment Agencies Christchurch
  • Travel
    • How to Get Access to Airport Lounges
    • Flybuys Review
    • Fastest Way To Earn Air NZ Status Points
    • How to Redeem Air New Zealand Airpoints Dollars
    • Air New Zealand Koru Membership Review
    • Air New Zealand Travel Tips
    • Air NZ Upgrade Guide
    • Airpoints Flexipay Guide
    • No Nonsense Upgrade Guide
    • Cheap Domestic Flights
    • Car Rental Hire
    • Auckland Airport Car Parking
    • First Table Guide
    • Accor Plus Review
    • Queenstown Like a Local
    • Auckland Travel for Less
    • Hotel Booking Sites Compared
    • 100+ Free Things to do in Auckland
    • Layby Flights Guide
    • Airbnb Refunds (Coronavirus)
    • Air New Zealand Refunds & Credits
    • Google Flights Guide
    • Skyscanner Guide
    • Working Holiday Visas
    • Currency Converter
    • Qatar Airways Travel Tips
    • Foreign Currency Exchange
      • Australian Dollars Exchange Rate
      • American Dollars Exchange Rate
      • British Pound Exchange Rate
      • Canadian Dollars Exchange Rate
      • Euro Exchange Rate
      • Fijian Dollars Exchange Rate
      • Hong Kong Dollar Exchange Rate
      • Korean Won Exchange Rate
      • Indian Rupee Exchange Rate
      • Japanese Yen Exchange Rate
      • Malaysian Ringgit Exchange Rate
      • South African Rand Exchange Rate
      • Singapore Dollars Exchange Rate
      • Thai Baht Exchange Rate
      • Chinese Yuan Exchange Rate
  • Broadband
    • Compare Broadband Plans
    • No Contract Broadband
    • Rural Broadband Plans
    • Internet Speed Test
    • Broadband Provider Reviews
      • 2degrees Broadband Review
      • Bigpipe Broadband Review
      • Compass Broadband Review
      • Contact Broadband Review
      • Electric Kiwi Broadband Review
      • Farmside Broadband Review
      • Flip Broadband Review
      • Mercury Broadband Review
      • MyRepublic Broadband Review
      • NOW Broadband Review
      • One NZ Broadband Review
      • Orcon Broadband Review
      • Spark Broadband Review
      • Skinny Review
      • Slingshot Broadband Review
      • Starlink Review
      • Voyager Broadband Review
      • Wireless Nation Broadband Review
  • Power
    • Compare Power Companies
    • Power and Broadband Bundles
    • How to Lower Your Power Bills
    • Fixed Contracts vs Open Power Plans – What You Need to Know
    • Electric Vehicle Power Plans
    • How to Use Less Power
    • Power Companies
      • Contact Energy Review
      • Ecotricity Review
      • Electric Kiwi Review
      • Flick Electric Review
      • Frank Energy Review
      • Genesis Energy Review
      • Globug Review
      • Mercury Review
      • Meridian Energy Review
      • Nova Energy Review
      • Powershop Review
      • Z Energy Power Review
  • Financial Independence
    • FIRE Guides
      • Retirement in a Nutshell
      • How to Retire Early
      • FIRE Explained
      • The Four Percent Rule
      • Achieving Financial Independence, Faster
      • Five Types of FIRE Plans
      • Getting FIRE’d in New Zealand
      • FIRE and NZ Real Estate
    • FIRE Tools
      • Budgeting Apps
      • Debt Repayment Apps
      • Free Financial Literacy Classes
      • Free Financial Products
      • 50/30/20 Budget Calculator
      • Budget Planner
    • Tax
      • Beginner's Guide to Tax
      • Salary Sacrifice in New Zealand
      • Tax Bracket Creep
      • Tax Refunds
    • Money Tips
      • 20 Things to Stop Buying to Have More Money
      • 20 Indicators You're Doing Well Financially
      • 20 Must-Know Money Lessons (Learned From Experience)
      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
      • CAP (Christians Against Poverty) Review
      • Debtfix Review
      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
      • Average NZ Salary by Age
      • How to Maximise Income in Retirement
      • How to Handle Rising Interest Rates
      • Free Money from the Government
      • Bankruptcy Guide
      • Unclaimed Money in New Zealand
      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
      • Acupuncture Auckland
      • Arborists Auckland
      • Asbestos Removal Auckland
      • Auto Electricians Auckland
      • Bathroom Renovations Auckland
      • Builders Auckland
      • Building Inspectors Auckland
      • Cabinet Makers Auckland
      • Car Detailing Auckland ​
      • Catering Auckland
      • Cattery Auckland
      • Chimney Sweep Auckland
      • Chiropractors Auckland
      • Cleaners Auckland
      • Computer Repair Experts Auckland
      • Concreters Auckland
      • Dentists Auckland
      • Dog Boarding Kennels Auckland
      • Dog Daycare Auckland
      • Dog Grooming Auckland
      • Dry Cleaners Auckland
      • Electricians Auckland
      • Eyelash Extensions Auckland
      • Firewood Auckland
      • Flooring Companies Auckland
      • Fridge Repair Auckland
      • Garage Door Repair Auckland
      • Glaziers Auckland
      • Graphic Design Auckland
      • Gutter Cleaning Auckland
      • Gym Memberships Auckland
      • Hair Salons Auckland
      • Heat Pump & AC Specialists Auckland
      • Home Security Systems Auckland
      • Korean BBQ Auckland
      • Land Surveyors Auckland
      • Landscapers Auckland
      • Lawn Mowing Services Auckland
      • Locksmiths Auckland
      • Mechanics Auckland
      • Makeup Artists Auckland
      • Naturopaths Auckland
      • Optometrists Auckland
      • Painters Auckland
      • Panel Beaters Auckland
      • Personal Trainers Auckland
      • Pest Control Auckland
      • Plumbers Auckland
      • Podiatrists Auckland
      • Puppy School Auckland
      • Roofing Auckland
      • Scaffolding Auckland
      • Screen Printing Auckland
      • Solar Panels Auckland
      • Quality Tyres Auckland
      • Wedding Car Hire Auckland
      • Wedding Celebrant Auckland
      • Wedding Photographers Auckland
      • Wedding Videographers Auckland
      • Window Tinting Auckland
    • Wellington Trade Services
      • Arborists Wellington
      • Bathroom Renovations Wellington
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Bad Credit Personal Loans and Alternatives

We compare bad credit loans to highlight the best offers and alternatives, without negatively affecting your credit score and getting you into problem debt
Bad Credit Loans NZ
Updated 17 November 2023

Important: Please do not rush reading this guide. We know you have bad credit and that a fast loan is your focus right now; our guide helps you find the best offer while minimising or eliminating repayment. We have put it together carefully for your benefit. Spending 5-10 minutes reading will help you make a financially sensible decision.

Top tip: Before applying for a bad credit loan, we strongly suggest contacting Work and Income to see if you qualify for Hardship Assistance (to cover urgent costs and living expense assistance). This support is available to any New Zealand citizen or resident who needs urgent money. You do not need to be receiving a benefit to be eligible.

​Our Guide to Bad Credit Loans
Borrowing with bad credit is almost certainly going to be expensive when it comes to repayments. Our guide explains all the options available to anyone with bad credit in an effort to prevent creating a worse financial situation. Few companies want to lend to anyone with bad credit because of the risk of not being repaid. This means that what’s available tends to be high-interest and can cause more problems later on.

If this is you - don't panic. There are a number of options for a loan. Our guide evaluates Work and Income advances and emergency assistance, payday loans, borrowing from friends, low-cost loans and more. We cover:
  • Frequently Asked Questions
  • Pros and Cons of Taking a Bad Credit Loan
  • How to Apply for a Bad Credit Loan – Four Things to Consider
  • Repaying a Bad Credit Loan – What You Need to Know
  • 10 Bad Credit Loan Options (and What to Watch Out For)
  • Understanding Your Credit History
  • ​Conclusion: Bad Credit Loans and Making the Best Decision ​
Know this first:
  • Bad credit loans are available for anyone but usually always come with very high interest rates, upfront loan application fees, ongoing 'management' fees and/or default fees.
  • The New Zealand government changed the law in May 2020, meaning interest and fees are capped at 100% of the loan, but the interest rates charged are still high. This benefits anyone considering a bad credit loan given the history of high interest rates before the law change.
  • Payday loans and truck loans are best avoided – they usually make a debt issue even worse.
  • Before you apply for a bad credit loan, be aware that Work and Income offers a number of special assistance loans and grants. Our hardship, living costs and emergency assistance grants guide should be considered first as it walks you through everything you need to know about what's available and how to apply.
  • We strongly suggest seeking the assistance of a budget advisor who can help restore your credit history by assisting your with money management. For more information, visit MoneyTalks, Sorted.org.nz and the NZ Government. 

Bad Credit Loans NZ

Bad Credit Loans - Frequently Asked Questions

If you have bad credit, your ability to borrow can be frustrating. To make sure you're informed, our FAQs answer popular misconceptions about lending options for anyone who has a credit history that disadvantages them.

What is bad credit?

Bad credit in New Zealand is quite common, with unpaid phone bills being the most common cause. Bad credit arises when you have a record of missing payments for loans, credit cards, phone plans or car finance, among other things.

​When you apply for something that relies on your making repayments later, the company you’re dealing with will run a ‘credit check’. This is to determine whether you’re likely to meet your side of the agreement and make repayments. Anyone with bad credit will either be refused outright or charged a higher interest rate or fee.


Most people have bad credit due to one (or more) of the following:
  • Defaulting on payments
  • A history of making late payments
  • Bankruptcy

Why is having bad credit a problem for loans?

Most lenders don’t like taking risks. If you have a bad credit history, then you’ll be seen as ‘high risk’, and your loan application will, most likely, be declined. Bad credit applications typically get rejected for mortgages, personal loans, credit cards, car finance and even phone plans. The companies take the view that the risk isn’t worth the potential profit.​

Can I get a bad credit loan if I have bad credit and am currently unemployed?

Yes – but at a higher than normal interest rate; 'good' interest rates (the offers you see advertised for 5.99% p.a. or at least under 10% p.a.) are usually only available to someone with a regular income and good credit score. As part of the application process for a bad credit loan, the lender asks for payslips or proof of income. If you’re unemployed, then you can still apply for a loan, as bad credit lenders consider a range of applicants. Such loans, however, will almost certainly have a high-interest rate which gets dangerous if you miss a payment.

How can I get a bad credit loan?

If you have had a few loan application rejections, bad credit is likely to be the reason. New Zealand does, however, have a thriving ‘alternative lender’ market, where specialist companies offer bad credit loans to help with debt consolidation and emergencies. These loans will, however, have higher interest rates and may come with additional fees. 

Important: There’s no guarantee that an alternative lender will approve your application; our guide compares the ‘least worst’ providers who offer loans for those with a bad credit history.

I’ve never heard of the companies offering "bad credit loans" – should I trust them?

Almost every bank will find a reason not to loan to anyone with bad credit. They do this because banks don't like to take risks. Companies that do lend to people with bad credit include the likes of Cash Converters, Instant Finance and other high-interest, high-fee lenders. Because they don’t rely on their reputation like banks do, it’s essential that you know exactly what you're getting yourself into in terms of the interest rate, repayment terms and fees.

How much can I borrow using a bad credit loan?

"Bad credit loans" operate in a very similar way to "payday loans" – they are short-term (i.e. less than two years), high-interest, have a number of upfront and ongoing fees, and become even more costly if you miss a payment. You will usually be able to borrow up to around $2,000 or $3,000, but how much depends on the lender's criteria, what you can afford to repay and your credit history.

Are there alternatives to taking out a bad credit loan?

​Yes - there are many. Our 10 Bad Credit Loan Options covers these in detail.  No matter what you decide, it’s a good idea to make an appointment with a Budget Advisor who offer free assistance to get your finances on track while you’re out of work. Budget Advisors may be able to provide details on low-interest (or even 0% interest) loans that are offered by local charities. Whatever your situation, a budget advisor will provide ongoing support.

Why have I have credit applications declined in the past?

Lenders don’t like taking risks, and they look at many factors before granting a loan. The reason is usually bad credit, but there are other reasons. Some of these reasons include:
  1. A bad credit history – if you’ve gone through financial difficulties, instances of missing repayments and/or paying late will be recorded on your file. While the reasons may not be your fault, credit file’s don’t differentiate. Their purpose is to inform lenders about how much of a risk you may be. If there are too many black marks, your application will, in most cases, be rejected.
  2. You already have too many loans outstanding – lenders don’t like to give money to people who already have debts to repay. If you’ve already got a personal loan, car finance and a few store cards and struggle to keep on top of repayments, this will usually be seen as a risk by a lender who will decline your application.
  3. Your income – loans are assessed on affordability; if you earn $40,000 a year but want a $20,000 car loan, it’s unlikely this will be deemed affordable, so your application will be declined. 
  4. Your employment history – if you are in and out of work frequently, or are unemployed for the long-term, this will be seen as higher risk.
  5. What assets you have – if you’re applying for a secured loan, the lender will assess the value of the assets you own (i.e. car or home) and whether they are sufficient to cover the loan should you fail to repay. If you don’t have adequate assets, your application will likely be rejected.

Bad Credit Loans NZ

Pros and Cons of Taking a Bad Credit Loan

Because bad credit loans will almost certainly have higher interest and more aggressive terms, you must understand what is involved and evaluate all of your options. There are many alternatives to a bad credit loan, which we outline later on in our 10 Bad Credit Loan Options section.

Pros
  • You can access money – if you need some money and have no other option; bad credit loans will usually transfer the money to you on the same day you’re approved.
  • It’s cheaper than payday lenders – alternative loans will charge above-market interest rates, but they won’t be as high as payday lending. They are easier to repay, and you won’t be crippled with fees.
  • A bad credit loan can help improve your credit score – if you manage to repay the loan instalments on time, your credit history will report this. This will help you get a better loan deal or credit product later on. 

Cons
  • You’ll need to make monthly repayments – if you don’t, you’ll almost certainly have further black marks added to your credit history which will make future borrowing more difficult.
  • High interest rates – because you’re a higher risk, lenders charge you more to account for this. This means your total interest costs will be higher than taking a personal loan from a traditional lender. 
  • Higher fees – bad credit loan companies often charge big fees for missing a repayment, as well as ongoing loan 'management' fees and upfront fees. To make sure you understand what your obligations are, ask for a schedule of fees. It’s worth checking the terms and conditions for any penalties like late repayment fees and returned payment fees.
Table 1: Repayment cost for a $2,000 loan (repaid over two years) based on five different credit histories (all calculations exclude loan application fees)
The table below is clear how credit ratings make a big difference in the cost of a loan. For example, someone with an "average" credit rating may pay $562 interest costs, whereas someone with a "bad" credit rating will pay $5,461 interest costs (if the interest rate was 180%) for the same loan. As this table depicts, better credit means lower borrowing costs.
Credit Rating
Interest Rate
Monthly Repayment 
Total Interest Cost
​Total Loan Cost
Excellent
8%
$90​
$171
$2,171
Good
12%
$94
$​260
$2,260
Average
25%
$107
$562
​$2,562
Poor
75%
$164
$1,913
$3,913
Bad
180%
$311
​$5,461
$5,461

Bad Credit Loans NZ

How to Apply for a Bad Credit Loan – Four Things to Consider

The best approach is not to borrow more than you need (as interest costs and repayments will be high) and make sure you will have the money to keep up with repayments. While everyone’s financial situation is unique, the following should be considered:
  1. How much you can afford to pay back each month – our loan affordability calculator shows how much you could borrow based on how much you think you can repay
  2. How much you need to borrow – don’t overstate what you need given the high costs of interest, but at the same time, make sure you borrow enough for what you need so you’re not short of money and need another loan shortly after
  3. The interest rate and fees – make sure you understand the interest rate, penalty interest rate if you’re late making repayments, all fees and the term (i.e. how many months) of the loan.
  4. Do you need the loan – if the money is spent on a ‘want’ rather than a ‘need’, the cost of interest and related fees make bad credit loans very expensive. It will often be better to save up and pay for what you want in cash. 

If you’re comfortable with proceeding, there are a few things you will need to disclose to the lender:
  1. Your current address in New Zealand
  2. An email address, contact number and employer name (if applicable)
  3. Your total annual income
  4. Your general expenses

Bad Credit Loans NZ

Repaying a Bad Credit Loan – What You Need to Know

The most important rule of taking out a bad credit loan (or any loan) is that you make sure to always make the repayments on time, whenever they are due, until the balance is paid off. Your loan will specify how the long the repayment period is (usually one to five years), the interest rate, the fees (for missing a payment), penalty interest rates (if you’re late repaying) and, most importantly, the weekly or monthly repayment. 

Know this: What you repay isn’t just the amount you’ve borrowed, but it’s also the interest costs. The worse your credit, the higher the interest rate, which means the more you’ll repay. To protect your credit history, make sure you know exactly when the loan repayments are due, and you never miss the repayment. Doing so will almost certainly negatively impact your credit history, meaning taking out another loan later could be even more expensive. 

How do I make loan repayments?

You have many options for making the repayment – the most crucial point is that the payment must be received on (or before) it’s due to avoid extra costs. Popular ways to service a bad credit loan include:
  1. Direct debit (your lender will set this up and take money from your bank account when a repayment is due)
  2. Automatic payment (you’ll set this up using online banking, which will cover a fixed amount, which you can adjust at any time)
  3. Making a manual payment (you transfer money to the lender to cover the repayment cost)

​Of the three options, direct debits are the most sensible as then the lender has the responsibility to take the money. However, you’ll need to have enough money available. If you don’t, your bank will likely charge a dishonour fee, and your lender will charge a failed payment fee (and penalty interest). Your credit history will also be negatively affected.

Bad Credit Loans NZ

10 Bad Credit Loan Options (and What to Watch Out For)

You don't need to rush into taking out a bad credit loan - there are many alternatives, and we explain them below in detail.

Important: Please do not rush reading this guide. We know a quick loan is your focus right now; this guide contains many options that can help you. We have put it together carefully for your benefit. Spending 5-10 minutes reading will help you make a sensible decision.
Bad Credit Loans NZ

Hardship Assistance - Urgent Costs and Living Expense Assistance (from Work and Income)

Hardship Assistance is the term Work and Income use to describe emergency grants and one-off payments. There are two main types of payment:
  1. Special Needs Grants (one-off money grants for specific purposes)
  2. Advance Payments (also known as Recoverable Assistance Payments, or RAP, available to anyone on an unemployment benefit)

The benefits of Work and Income assistance include no interest rate being charged, no loan fees, money can be advanced as a grant (i.e. not a loan) and you can pay back money without interest.

More details: Visit our dedicated Hardship Assistance guide and our Work and Income tips guide for maximising the chances of being approved. 
Bad Credit Loans NZ

High-Interest and Payday Loans (a high risk, high cost option)

High-Interest and Payday lenders are everywhere – on the TV, online, advertising on buses and newspapers. They work in a similar way - high fees, high interest and high penalties for being late on a repayment.

High-Interest lenders traditionally let you borrow money from six months to five years; 

Payday lenders usually let you borrow a fixed sum for up to ten weeks, but this is flexible. It is however expensive, even if your repayments end up being a maximum of 100% what you borrow. For example, if you borrow $500 for urgent car repairs, you will have to pay back $1,000 after a few months given the high-interest rates.

Managing daily expenses with either a high-interest loan or payday loan isn’t easy and can quickly become unaffordable.


More details: Check out our Payday Loans Review ​
Bad Credit Loans NZ

Accessing KiwiSaver (a low risk option, but you'll need to have a balance available)

If you have a KiwiSaver balance, you may be able to access it for free. You will need to prove that you cannot meet your 'minimum living expenses', for example basic food and grocery items, and accommodation costs (including rent, mortgage repayments, interest etc), among other expenses.

Best of all, you won't need to take a loan and the money comes in a matter of weeks once approved. You'll need to submit a hardship application, and supply the required evidence.

More details: KiwiSaver hardship application
Bad Credit Loans NZ

​Secured and guarantor loans (a medium risk, low cost option)

Lenders don’t see the money you receive from Work and Income as ‘income’, but they will be more likely to offer loans if you have security or a guarantor (someone who will repay the loan if you don’t). Such loans are risky – if you pledge your security (be it a car, home or something else), failure to repay the loan means the lender will own what you pledged. If you’ve asked someone to guarantee a loan (usually a parent, friend or sibling), this can cause a whole lot of trouble if and when you miss a payment.

More details: Secured loans

Bad Credit Loans NZ

​Credit unions (a low risk, low cost option)

New Zealand has many credit unions – First Credit Union, NZCU Baywide and NZCU South are some examples. Credit unions charge lower interest rates payday lenders and may be able to help. They can also offer repayment plans and more flexible loans.

Read our reviews here: First Credit Union, NZCU Baywide and NZCU South
Bad Credit Loans NZ

​Talk to your bank (a low risk, low cost option)

COVID-19 changed everything, and banks have some responsibility to help anyone struggling financially. If you owe money on credit cards or personal loans, ask about a hardship application. A hardship application asks your bank to help you work out a more flexible repayment plan.
Bad Credit Loans NZ

Use a credit card (a low risk, medium cost option)

If you already have a credit card and you have still not maxed it out, credit card debt is very likely to be cheaper than taking out a new loan. You’ll have to meet the minimum repayments (find out what your bank charges here) – it will either be 2%, 3% or 5% of the balance each month).

It’s still possible to apply for a credit card if you have bad credit – banks assess credit card applications on current income and debt levels, so you could be eligible.

More details: Visit our low-interest credit cards comparison
Bad Credit Loans NZ

Free and discounted loan providers if you are low income or unemployed (low risk, low cost)

There are a number of incredibly helpful community lenders who offer fee-free or low-interest loans to anyone with a low income. We list these below:

1. Good Shepherd New Zealand is a non-government, not for profit organisation, working in partnership with the BNZ, Kiwibank and three community providers - Aviva Families, The Salvation Army, and Vaka Tautua. It offers fee-free loans to people with limited incomes; schemes include no-interest loans and the StepUP loans (with an interest rate of 6.99% p.a.). 
Website:  www.goodshepherd.org.nz. 
Available: Nationwide 

2. The Nga Tangata Microfinance Trust offers Asset Building and Debt Relief loans to help ease the burden of excessive debt. The debt relief loans are to a maximum of $3,000, with capital provided by KiwiBank. The applicant must pay back the loan in full within two years, and they must have been working with a budget advisor for at least six months.
Website: www.ngatangatamicrofinance.org.nz
Location: Nationwide ​​
Brochure: Download here
Bad Credit Loans NZ

Borrowing from friends and family (medium risk, low cost)

Depending on your family situation, this can be an option to get a helping hand while you prioritise other bills and improve your financial position. It's not without its risks however - if you can't repay, you can lose friends and upset people. But, for many people, it works just fine. How much to ask for and who to ask is something that needs a bit of consideration.

More details: Our guide to lending money to friends and family members is written the view of the lender (i.e. person you ask for money), but it has some very useful information. 
Bad Credit Loans NZ

Loans from door sellers and trucks (a high risk, high cost option)

​Anyone who offers you a loan on your doorstep is likely to be trouble. It sounds good – a lump sum and a repayment-free period, but the costs quickly get out of control. The interest rates and fees will be high, and the lender does not have your best interests at heart. Worst still, someone will visit your home every week or so to collect payment. It’s ugly and can very stressful if you struggle to make the repayments.

Bad Credit Loans NZ

Understanding your credit history – and challenging what’s not right

The best way to understand if you have bad credit is to check your personal history. There are four options available, and all of them are free. We'd suggest applying with Credit Simple for its ease of use, followed by Equifax given the number of lenders who use it. If you notice anything that looks unusual, raise it urgently with the credit reference agency and follow it up until it's cleared and/or resolved. 

How to Apply for a Credit Report​ - Three Options:
  • Equifax - the credit reference agency used by almost every major bank, Equifax offers a free credit report (20 working days) or an express credit report (delivered in 5 working days or less). It's also known as "MyCreditFile.co.nz" and you can visit the Equifax website to apply. 
  • illion (formerly Dun & Bradstreet) - the second most popular credit reference agency, illion (formerly Dun & Bradstreet) offers a range of credit report services, with a fast-track credit report (3 days delivery) and a standard credit report (10-20 working days delivery) being the most popular. Visit the Dun & Bradstreet website to apply.  
  • Centrix - the least popular credit reference agency offering a ten-day delivery - visit the Centrix website to apply. 

Important: By applying for a credit report, you can isolate instances of bad credit, and either challenge them or avoid repeating them in the future.

Bad Credit Loans NZ

Conclusion: Bad Credit Loans

When it comes to taking out a bad credit loan, don't rush into a decision. High-interest lenders and Payday loan providers advertise everywhere and are all too willing to lend, but it comes at a big cost even if the law limits the interest costs.

Whatever your decision, we strongly suggest seeking the assistance of a budget advisor who can help restore your credit history by assisting your with money management. For more information, visit MoneyTalks, Sorted.org.nz and the NZ Government.

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