Whether it’s a big purchase, an unexpected life event, or simply the desire to bring several debts under one roof, a personal loan can make an expensive moment far more manageable.
BNZ Advanced Personal Loan: best loan for debt consolidation
Because the interest rate is fixed at 12.90% p.a. for the whole term, anywhere from 3 months to 5 years, there are no surprises along the way. And if finances improve, extra repayments or paying the loan off entirely come with no early repayment charges or additional fees, so consolidating debt doesn’t mean losing flexibility.
Consolidating with BNZ also means dealing with a single, transparent cost structure: a one-off $50 loan facility fee and nothing more each month, rather than the mix of fees that often comes with juggling several separate debts.
Should I get a Personal Loan from BNZ?
BNZ is one of New Zealand’s major banks, and by its own most recent full-year result, it recorded the highest Consumer Net Promoter Score of any major New Zealand bank and grew by more than 100,000 new customers in the 12 months to September 2025 — a sign that plenty of Kiwis are choosing to bank, and borrow, with BNZ.
On the loan itself, BNZ keeps things straightforward: a fixed 12.90% p.a. rate that won’t move during the term, no monthly account-keeping fees, and no penalty for repaying early. For anyone comparing lenders, that combination of a competitive fixed rate and genuine repayment flexibility is worth weighing seriously.
How to get a loan from BNZ?
To get the BNZ Advanced Personal Loan, you need to:
- Be 18 years or older
- If you’re a New Zealand citizen or permanent resident: earn an income of $35,000 or more per year
- If you’re a non-resident: be living and permanently employed in New Zealand, hold a valid work visa with at least 12 months remaining, and note that eligible non-residents can borrow up to $10,000 for specific purposes (such as a vehicle purchase, settlement costs, or training)
- Apply as an individual customer
- Have — or open — a BNZ transactional account
Apply for the loan:
- Existing BNZ customers: log in to Internet Banking or the BNZ app and select Apply now from the menu
- Not yet a BNZ customer: open a transactional account with BNZ first, then log in and select Apply now
- Debt consolidation or non-residents: call BNZ on 0800 275 269 or visit a BNZ branch
FAQ
1. Can I get a loan from BNZ without a job?
BNZ doesn’t require a specific job title, but you do need a verifiable income of at least $35,000 a year if you’re a New Zealand citizen or permanent resident. When reviewing an application, BNZ also looks at how long you’ve been in your role, how often you change jobs, and whether you’re an employee, contractor, or self-employed. Non-residents must be permanently employed in New Zealand to be eligible.
2. How much will I get approved for with the BNZ Advanced Personal Loan?
BNZ lends between $1,000 and $60,000 (up to $10,000 for eligible non-residents), but the amount you’re approved for depends on BNZ’s review of your credit score, your income, how you manage your existing bank accounts, and any other debts you’re carrying.
3. How do I pay off the BNZ Advanced Personal Loan?
You make fixed monthly repayments over a term of your choosing, from 3 months up to 5 years. You can also pay extra whenever you like, or repay the full balance early, without any early repayment charges or additional payment fees.
4. How do I cancel a loan application with BNZ?
BNZ doesn’t publish a self-service option for cancelling a submitted application online, so the most reliable way is to contact BNZ directly on 0800 800 667 to discuss withdrawing or changing your application.