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Checking if you’re eligible for a personal loan

Before applying for a personal loan, check that you’re eligible. 

New Zealand citizens or permanent residents

You’ll need to be:

  • 18 years or older 
  • receiving an income of $35,000 or more per year  
  • an individual customer.  

Non-residents

You’ll need to be:

  • 18 years or older
  • living in New Zealand
  • permanently employed in New Zealand
  • depositing your income into a BNZ account 
  • holding a working visa based on occupation or skills, with at least 12 months remaining
  • an individual customer.  

Eligible non-residents can borrow up to $10,000. The loan term can be up to three years or until one month before their work visa expires, whichever is shorter. The personal loan must be used for one of the following:

  • the purchase of a motor vehicle
  • the borrower and their family’s settlement and/or residency expenses
  • training/recertification costs
  • employment related costs.