Minimum loan amount
Maximum loan amount
Minimum loan term
Maximum loan term
Max. APR
Minimum age
Representative example: Loan amount: $5,000, Loan term: 2 years, Interest: $699, a one-off application fee: $115, APR: 12.9%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
Maximum loan amount
Minimum loan term
Maximum loan term
APR
Minimum age
Representative example: Loan Amount: $10,000, Loan Term: 3 years, Total amount payable: $12,409, APR: 13.9%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
If your salary have been deposited into a bank account in the last three months, the bank will be able to verify your income from your account information. If not, they’ll need to see one of the following
For example:
Lender A offers |
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3000 NZD for 1 year with an APR of 11.4 % |
Lender B offers |
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3000 NZD for 1 year with an APR of 19.9 % |
As it shows, in the scenario above, borrowing from Lender A would be a better idea, because you would get the same amount of money for the same term, but each month you would pay less interest.
All credit institutions have their own criteria to accept or refuse a credit. Each organization has developed calculation rules to determine in advance if you have a risk of ending up in litigation. They use scoring methods. This calculation takes into account many factors such as age, bank, educational level, number of children, occupation and budget. Your application can be accepted by one bank and denied by another. Your banker may refuse your request because it determines your debt ratio is too high. Every lender has its own budget criteria.
A personal loan can be the perfect way to get what you've always wanted. Personal loans can be used for practically any legal function such as paying for tuition fees, debt consolidation, a holiday, a boat, kitchen renovations and even a car. Personal loans are one of many types of loans you can borrow from a bank. These loans are typically general purpose loans that you can use at your discretion. Personal loans are a relatively basic kind of financial product. Consumers can borrow a specific amount of money which is required to be paid back with interest (in equal repayments) over the term of the loan.
If a loan is secured this means that it will be tied to an asset, which can be repossessed if you fail to make your repayments. Unsecured loans are collateral free and therefore tend to have higher interest rates.
Unlike other forms of finance, such as a credit card, personal loans are generally cheaper as on average they have lower interest rates and have the requirement to pay it back in a set period.
MoneyGuru24 is not a bank, lender, broker or product issuer. MoneyGuru24 is not owned by a financial institution but is an independent company owned by private shareholders. All information provided on MoneyGuru24 has general and informative nature. Although MoneyGuru24 covers wide range of loan products and providers, keep in mind that those are not the only options available in the market and may not be the best fit for you. We do not consider your personal circumstances and financial situation and we are not recommending any particular products. If you choose to apply for a loan product through MoneyGuru24 website you will be dealing directly with the loan provider not with MoneyGuru24. It is recommended for you to read all relevant documentation given by the loan provider before accepting any financial product offer.
Loan is a good choice if you are in need of a certain amount of money for a certain cause – for example, home or garden improvement, travelling or study expense coverage (student loans). Personal loan comparison on moneyguru24.com helps you choose the best personal loan that best suits your need.
If you find yourself in a sudden need of money, for example, you receive an unexpectedly big bill for a service, first – talk over with whomever you got your bill from and explain the situation you’re in. You may plan an extended term to your bill or suggest a partial payment during a longer term. If that is not possible, you should consider getting a loan. But you should get a loan only if you are able to pay it back.
You can apply for a loan using an online application form. To get the loan you have to be over 18, employed, with a regular monthly income and have a bank account. Even though the application is really easy, you shouldn’t rush into getting a loan. Be careful and read all the information, small print, terms and conditions on the politics of financial enterprise which you find most efficient after comparing all the options in MoneyGuru24.com.
Most of financial enterprises, that offers loans, debit the payment directly from your bank account. But there are still some credit companies that haven’t established this service yet, so you must remember to pay back your debt as soon as you get your monthly paycheck. If you are thinking about extending the term of your loan, be sure to inform the lender before the current due date expires.
If you miss payments or fail to repay your loan and cannot reach an agreement on the extension of credit term, then it is quite possible that the lender will leave a bad mark in your credit reference file. This can cause difficulties to obtain credit, leasing or other financial services in the future. Serious cases of missed payments (non-payment) can be brought to court. In this case, the court costs will be added to the amount of your debt. For more information about loan extension policy, description of the company's policy in cases of missing payments and non-payment actions, visit your lender’s website.
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