Offering fee-free, low-interest, and no-interest loans to limited income families to help them manage debt.
About Community Finance
When you're in a tough situation, getting traditional bank loans can be difficult, which means you can be forced to take out loans with other providers at very high interest rates and fees.
To help people stay away from unscrupulous lenders, we’ve committed $60m in lending to a community finance programme, in partnership with Good Shepherd NZ, Ministry of Social Development and community partners like The Salvation Army, Aviva, and Vaka Tautua. We offer people on limited incomes fee-free, low-interest, and no-interest loans, called ‘StepUP’ loans and ‘NILS’ loans.
How to apply
See how we can help you
Since 2014, Community Finance has provided hundreds of loans to help people with a range of issues. Customers have used the money for everything from fixing their cars so they can get to work, to paying for unexpected medical or dental expenses.
See what else we’ve been doing in The Good Report.
How the programme operates
BNZ’s Community Finance programme began in 2014, operating from The Salvation Army Community Ministries sites in Manukau and Henderson.
In the 2016 New Zealand Budget, the New Zealand Government awarded Community Finance $4.2 million of operating funding over four years. The additional funding has allowed more Community Finance loan workers to be trained and the programme to be expanded.
Community Finance is now available in Whangarei, Hamilton, Tauranga, Napier, Palmerston North, Porirua, Wellington, Christchurch, Invercargill and Manukau, Mt Wellington and Henderson in Auckland.
As at September 2017, we estimate that the $1.5million of lending to date has saved Community Finance customers more than $835,000 when compared with borrowing the same amount through alternative lenders.
StepUP loans are a community initiative of BNZ and Good Shepherd, supported by the Ministry of Social Development. BNZ is the lender, but StepUP loans are only available via our community providers. See www.stepuploan.org.nz for further details and a list of providers.
If BNZ offer you a loan, you'll have 30 days to confirm the item(s) that you intend to purchase and provide evidence as to the cost. Approved purposes only (no cash loans). BNZ is the lender. Terms and lending criteria apply.
- Your Advanced Personal Loan standard terms and conditions PDF 821KB
(for StepUP loans offered with the assistance of Community Partners approved on or after 14 November 2016)
- Your Advanced Personal Loan standard terms and conditions PDF 222KB
(for StepUP loans offered with the assistance of Community Partners approved on or before 13 November 2016)
- Advanced Personal Loans current charges PDF 30KB