Best Personal Loans in New Zealand (2026)
5 personal loans from 4 banks in New Zealand. 4 of them publish a rate; the rest quote only on application.
Every figure below is taken from the bank's own published pages and is shown in the bank's
own wording — a flat rate and a reducing rate are not the same thing, so they are never merged.
A dash means the bank does not publish that figure. Rates change; always confirm on the bank's
site before applying.
Last read from the banks' websites on 16 August 2026.
| Bank & loan | Rate (bank's own wording) | Min salary | Max amount | Tenure | |
|---|---|---|---|---|---|
|
ANZ Personal Loan
ANZ New Zealand
bank's page ↗
|
13.90 % p.a. — Fixed | — | NZ$3,000 – NZ$50,000 | 6 months – 7 years | View |
|
Personal Loan (unsecured)
ASB Bank
bank's page ↗
|
The Westpac standard personal loan interest rate of 13.90% p.a. is currently based on a personal loan rate/personal lending rate/personal loan base rate of 14% p.a. less a margin of 0.10% p.a | — | NZ$50,000 | 6 months – 5 years | View |
|
Advanced Personal Loan
BNZ
bank's page ↗
|
12.90% per annum — Variable | — | NZ$1,000 – NZ$60,000 | 3 months – 5 years | View |
|
Personal Loan (unsecured)
Westpac NZ
bank's page ↗
|
— | — | NZ$50,000 | 5 years | View |
|
EV personal loan
Westpac NZ
bank's page ↗
|
The EV personal loan interest rate of 7.99% p.a. is a combination of Westpac's personal loan base rate of 14% p.a. less a margin of 6.01% p.a. | — | — | — | View |
How to read the rates in this table
The single most expensive mistake when comparing personal loans in New Zealand is treating two advertised percentages as if they mean the same thing. They often do not. A flat rate is charged on the full amount you borrowed for the whole term, even though you are paying the balance down every month. A reducing rate is charged only on what you still owe, so it falls as you repay. The same number written two different ways produces very different totals, and the flat one is always the more expensive of the two.
This is why the rate column above reproduces each bank's own sentence instead of reducing it to a single figure. Where a bank says "per month", that is not an annual rate. Where it says "from", that is the best case for its strongest applicants, not an offer to you. Buzdy does not convert between these, because converting requires assumptions the bank has not published and a wrong number here costs real money.
Of the 5 loans listed, 4 publish a rate at all. The rest quote only after an application, which is itself worth knowing before you spend an afternoon on paperwork.
What the banks actually publish
Across the 4 banks on this page, disclosure is uneven. That gap is useful in itself — a bank that will not say what it charges until you have applied is telling you something.
- 4 of 5 state a rate
- 0 of 5 state a minimum salary
- 4 of 5 state a maximum amount
- 4 of 5 state a repayment term
5 of the 5 rows link straight to the bank's own page, so you can check any line here against the source before you act on it.
Before you apply
Every application is usually recorded, and several in a short window can read badly to the next lender. It costs nothing to narrow the list here first, confirm the current terms on the bank's own page, and apply once or twice rather than everywhere.
Ask the bank for the total you will repay over the full term, not the monthly instalment. A longer term makes any instalment look affordable while quietly increasing what the loan costs in total. Processing fees, insurance and early settlement charges sit outside the headline rate and are worth asking about by name.
