What is a personal loan?

A personal loan allows you to borrow a lump sum, usually for a particular purpose or need. Personal loans are also used for consolidating existing debts into one loan. You are charged interest on the amount of the loan and repay the loan amount, plus the interest over the term of the loan.

You pay the loan back in fixed scheduled repayments, arranged during the application process. Each repayment includes principle (the amount you borrowed) and interest (what you pay when you borrow money). Your repayments depend on how you set up your loan, including your loan term and payment frequency.

How does interest work on an ANZ Personal Loan?

What is interest?

Interest is what you pay a lender to borrow money. The interest rate is set during the application process and is expressed as a percentage e.g. 13.95% per annum (p.a.).

How is interest calculated?

Interest is calculated each day on the unpaid balance of your loan and charged to the loan on the last business day of the month. The interest rate applied each day is equal to your annual interest rate, divided by 365.

Interest charges

The interest charged to your loan may be different each month based on a variety of factors. These include the number of days in that month, the applicable annual interest rate and the unpaid balance of your loan.

What does it mean if a personal loan is secured or unsecured?

Unsecured loan

When a loan is unsecured it means the loan is not secured against any of the borrower’s assets. All ANZ Personal Loans are unsecured.

What if I want to pay off an ANZ Personal Loan sooner than the agreed term of the loan?

You can choose the length of time you want to repay the loan over, from six months to seven years, when you apply.

You can make extra repayments, of any amount, on your ANZ Personal Loan anytime for no fee. If you make a lump sum payment or increase your repayments, you’ll pay off your loan faster and pay less interest over the life of the loan.

Eligibility

Who can apply?
Information to provide

Who can apply?

Some things to check-off and have handy when you apply.

To get an ANZ Personal Loan you'll need to meet our lending criteria, including:

Be at least 18 years old.
Receiving a regular income.
Having enough money left over at the end of month, after your expenses are paid, to meet your loan repayments.
Being a New Zealand citizen, permanent resident or if you’re a non-resident, have more than one year left on your work visa.
Proving your identity and earnings.

Note: No more than two people can apply jointly.

Information to provide

Not an existing ANZ customer?

If you’re not an existing ANZ customer we may need this extra information:

Confirmation of income:

If you’re a wage or salary earner you’ll need to provide one of the following, dated within the last four weeks:
- a payslip showing year-to-date income figures
- a payslip showing your annual base income
- a letter from your employer on their letterhead, confirming your annual income and employment type (e.g. full or part time)
- three months of statements for the bank account your income is credited to.
If you're self-employed, you’ll need to provide copies of:
- your last two years' balance sheets or annual accounts
- your last two years’ profit and loss statements
- your personal tax return.
If you have other income (e.g. rent, dividends) please contact us on 0800 837 123 to discuss what our particular requirements will be.

What can you use an ANZ Personal Loan for?

Combining your debt into one easy to manage loan

Weddings and special events

Cars and other vehicles

Home renovations

Travel loans

Whatever you need, from medical and dental expenses to new appliances and furniture, an ANZ Personal Loan could be a way to get it.

How to apply

Apply online

Apply now

If you’re new to ANZ, you’ll need to visit a branch with your ID and proof of address to open your account.

Call us

0800 837 123

Weekdays, 8am – 8.30pm
Weekends, 9am – 5pm

International: +64 4 470 3142

Visit a branch

Find a branch

Important information

ANZ lending criteria, terms, conditions, and fees apply. Interest rates and fees are subject to change.

The ANZ Personal Loan interest rate is currently 17.95% p.a. (but can change) and you can pay these loans off between six months and seven years. For example if you borrowed $5,000 for two years at 17.95% p.a., the total interest payable would be about $988. Plus a one-off application fee of $115 applies (there is no application fee for full-time tertiary students on a Jumpstart account).

What is a personal loan?