Backed by Finance Now, the SBS Bank subsidiary that has already helped more than 530,000 New Zealanders get the funding they needed.
What you need to know about this loan
- Loan amounts offered: $1,000 to $60,000
- Loan terms (monthly): 6 to 60 months
- Payment methods: Weekly, fortnightly, or monthly repayments matched to your payday, plus extra or lump-sum repayments at any time with no penalty
- Interest rate: Fixed for the life of the loan, ranging from 8.45% to 29.95% p.a. across both secured and unsecured options
Pros
- Wide borrowing range: The SBS Personal Loan covers everything from a $1,000 top-up to a $60,000 major purchase.
- Rate locked in upfront: Finance Now agrees your interest rate before the loan starts, so there are no surprises down the track.
- Fast access to funds: Once approved, money is typically credited to your account on the next business day.
- No penalty for paying faster: Extra repayments and lump sums are accepted anytime, free of charge.
- Repayments that match your payday: Choose weekly, fortnightly, or monthly repayments aligned to your income schedule.
Cons
- Fees apply on approval: A $215 establishment fee and a $2.50 monthly service fee are added to every approved loan.
- Rates vary widely: Because pricing spans 8.45% to 29.95% p.a., your final rate depends heavily on your credit profile and whether the loan is secured.
Why Choose Finance Now (SBS Bank) for your loan?
ANZ caps personal loans at $50,000 with one flat 13.90% p.a. rate. Finance Now lends up to $60,000 and starts as low as 8.45% p.a. on secured loans.
ASB charges a single 13.90% p.a. rate no matter your security. Finance Now rewards secured borrowers with rates from 8.45% p.a., well below ASB’s flat rate.
Westpac’s standard rate sits at 13.90% p.a. with a $50,000 ceiling. Finance Now stretches to $60,000 and offers both secured and unsecured options.
BNZ only lends to existing BNZ customers. Finance Now accepts new applicants directly, with loans starting from just $1,000.
The Co-operative Bank starts loans at $3,000 with rates up to 17.75% p.a. Finance Now opens borrowing from $1,000, with rates from 8.45% p.a. for secured loans.
How to apply for your SBS Personal Loan
Ready to make your next big move? Applying takes just minutes online, and Finance Now typically reviews applications fast — so you could have a decision, and your funds, sooner than you think. Don’t wait on the moment that matters.