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 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 interest works 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 interest is 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 it means 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.

Secured loan

When a loan is secured it means the loan is secured against some or all of a borrower's assets. If the borrower fails to make repayments, the lender may get some or all of those assets to cover the outstanding loan amount.

If you 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.


To get an ANZ personal loan you'll need to meet our lending criteria


  • 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.

What can you use an ANZ Personal Loan for?

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

From overseas: +64 4 470 3142

Important information

ANZ lending criteria, terms and conditions apply. Interest rates and fees are subject to change. Read more about our Rates, fees and agreements.

Our financial advice provider statement has some important information you should know about ANZ and our financial advice services. Please take the time to read it.