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What we review when you apply for a personal loan

Before applying for a personal loan, it may be helpful to understand some of the factors we consider when we review an application.

Credit score

Your credit score gives us insight into how often you pay your debts and bills on time. The score is based on your financial history. We’re more likely to approve your application if we’re satisfied with your credit history and score. Learn more about checking your credit record on the New Zealand Government website.

Income

Consistent and regular income can have a big impact on whether you can make repayments. We’ll consider factors like:

how long you’ve been in your job
how often you change jobs
if you’re a permanent employee, contractor, or self-employed.

How you manage your bank accounts

Managing your bank accounts within your limits shows you’re able to manage your money. We’ll consider how many times your accounts have been overdrawn, so aim to avoid going over your limit.

Existing debt

We consider other debts you’ll continue to have if you take out a personal loan with us, e.g. credit cards, personal loans, or Buy Now Pay Later schemes.

Immigration visa type

Your visa type and and how long it’s valid for can affect your personal loan application. You’re eligible to apply if you’re a non-resident permanently employed in New Zealand.

You won’t be able to apply if you have a: