BNZ recorded the highest Consumer Net Promoter Score of any major New Zealand bank and welcomed over 100,000 new customers in the year to September 2025.
What you need to know about this loan
- Loan amounts offered: $1,000 to $60,000
- Loan terms (monthly): From 3 months up to 5 years, repaid in regular monthly instalments
- Payment methods: Fixed, regular monthly repayments over your chosen term, with the option to pay extra or pay off the full balance early at no extra cost
- Interest rate: 12.90% p.a., fixed for the entire term of the loan, plus a one-off $50 loan facility fee (no ongoing monthly fees)
Pros
- No monthly fees. Just one upfront $50 loan facility fee applies — nothing more to pay each month for the life of the loan.
- Free extra repayments. Pay off extra, or clear the whole balance early, with no early repayment charges or additional payment fees.
- Wide borrowing range. Borrow anywhere from $1,000 to $60,000, so the loan can flex to fit a small expense or a major purchase.
- Fixed, predictable rate. The 12.90% p.a. interest rate is locked in for the full term, so monthly repayments never change.
- Quick access to funds. Once approved, you have up to 21 days to draw down the loan, and interest is only charged from the first day of the term.
Cons
- BNZ customer requirement. If you’re not already a BNZ customer, you’ll need to open a transactional account before you can apply.
- Minimum income threshold. New Zealand citizens and permanent residents need a verifiable income of at least $35,000 a year to qualify.
Why Choose BNZ for your loan?
ASB’s unsecured personal loan carries a fixed rate of 13.90% p.a. — a full percentage point above the BNZ Advanced Personal Loan’s 12.90% p.a. fixed rate.
Westpac’s standard personal loan sits at 13.90% p.a., built from a 14.00% p.a. base rate less a small margin. BNZ’s Advanced Personal Loan stays fixed lower, at 12.90% p.a.
ANZ doesn’t publish a standard personal loan rate; it’s assessed case by case after you apply. BNZ is upfront, quoting its fixed 12.90% p.a. rate before you commit.
The Co-operative Bank’s personal loan rate floats between 9.95% and 17.75% p.a. and can shift during the term. BNZ’s 12.90% p.a. rate stays fixed for the whole loan.
Heartland Bank has stopped accepting new unsecured personal loan customers altogether. BNZ’s Advanced Personal Loan remains open to new applicants today.
How to apply for your BNZ Advanced Personal Loan
If you’re already banking with BNZ, applying takes minutes: simply log in to Internet Banking or the BNZ app and select Apply now. With a fixed 12.90% p.a. rate, no monthly fees, and the freedom to repay early without penalty, there’s little standing between you and the funds you need.