Bad Credit Loans NZ Up To $10,000. Apply Now In Minutes.

Bad credit loans NZ may be difficult to be approved for through traditional lenders, like the banks. Monzi NZ, on the other hand, aims to match you with Kiwi credit providers offering quick loans NZ.

Monzi NZ is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website about loans relate to your unique circumstances.

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What exactly are bad credit loans NZ?

Bad credit loans are, put simply, personal loans designed for consumers with less-than-impressive credit.

More specifically, bad credit lenders will focus on other aspects of your application, not just your credit record. As a result, these lenders are likely to focus your ability to afford the loan. In other words, lenders will look at your income and expenses when assessing your application.

Need your funds pronto? Same day access to loans is possible, depending on the lender.

The below table outlines some of the more common types of loans with short repayment terms.

Bad credit loans NZBad credit loans guaranteed approval NZ
Payday loans bad credit guaranteed approval NZBad credit loans guaranteed approval $5,000 NZ
Bad credit personal loans NZUnsecured bad credit loans

Why does my credit score matter?

Lenders check credit records to help them decide whether or not to offer you cash loans. In short, having good credit lets lenders know you are a responsible borrower.

In particular, a good credit score shows that you consistently meet the requirements of your small loans NZ contract. This, in other words, means you make your repayments in full by the due date. On the other hand, a poor credit score reflects poor borrowing habits.

Having good credit is important because it can directly affect whether or not a lender approves your application, as well as the interest rate and fees you may be charged.

Bear in mind, your credit history may be considered for both secured and unsecured loans NZ. Certain payday loans, however, may come without a credit check.

What’s on my credit record?

In essence, your credit record is just that – a record of all the credit you’ve ever taken out.

More specifically, your credit record includes information on:

  • Any unsettled debt you may have, or have had, in the past five years**.
  • Whether or not you have been insolvent.
  • Your repayment history from the last 24 months (even if you have not missed any repayments).
  • Any court judgements relating to the consumer.

**Unpaid debt can only be included in your credit record if:

  • the amount was over $100;
  • the debt was more than 30 days overdue; and
  • your credit provider made steps to recover the money.

Where can I access my credit record?

Kiwis have a legal right to access a free copy of their credit record from a credit reporting bureau. There are three major credit reporting bureaus in New Zealand: Centrix, Illion and Equifax.

The following links can offer a free copy of your credit report:

Once you request a copy of your credit record, the credit reporting bureau has 10 days to provide you with a copy. If, however, you need your record sooner, you can pay a fast-track fee.

Can I improve my credit?

There is both good news and bad news when it comes to improving your credit record. The good news is, everybody is able to improve their credit record themselves. The bad news, however, is that there is no quick-fix.

In short, there is no magic wand that consumers can wave over their credit record. Instead, Kiwi consumers can slowly but surely repair their credit record through forming healthy borrowing habits.

After all, your credit report is simply a reflection of your history as a borrower. Therefore, to improve your credit profile, improve your borrowing history.

5 ways to improve your credit score

The below list outlines 5 good borrowing habits that, if done consistently, will improve your credit score.

  1. Make payments on time. As obvious as this sounds, it is important. Getting into a habit of consistently making payments on time will go a long way towards improving your credit score. Keep in mind, this also includes payments to electricity and telephone service providers.
  2. Avoid applying for new credit. Applying for new credit (short term loans, credit cards etc.) can make your credit rating slowly drop.
  3. Keep credit card balances low. If you have credit cards or lines of credit that are close to maxed out, lenders may read this as you being in financial strife. As a result, a consistently low balance is much better for your credit score than a high one.
  4. Keep your credit cards open. Yes we’re aware this seems counterintuitive, especially with the above tip. However, carrying open credit card accounts with little-to-no balances will show you’re financially responsible.
  5. Hold on to clean accounts. The longer a credit account is kept without negative reports (missed payments etc.), the more it is able to improve your credit record.

How can you borrow money if you have bad credit?

If your credit score isn’t impressing banks or credit unions, there are still ways to borrow money. More specifically, you could apply with an alternative online lender offering bad credit loans NZ.

When browsing online for loans for below-average credit, you may notice both payday loans and bad credit personal loans NZ being advertised. You may, as a result, wonder what the difference is between the two.

In essence, payday loans are designed to cover a temporary cash shortfall until your next payday (hence the name). In addition, these loans may be characterised by very short repayment terms.

Bad credit personal loans may, on the other hand, be offered at larger amounts than payday loans. Also, personal loans may have more reasonable rates and fees, as well as a longer repayment term.

How can I get a fast loan with bad credit?

If you have poor credit but need cash in your account quickly, it may feel difficult to know where to turn.

Monzi NZ can, therefore, may be able to act as the middle-man between Kiwis with below-average credit and lenders offering personal loans.

In addition, Monzi NZ’s lender-finder service has been designed to be as streamlined and as straightforward as possible. In other words, consumers may be able to complete the submission form in minutes.

Moreover, lenders may differ in processing times. However, you can probably expect to receive your funds within 24 hours of approving your loan contract.

Although, if you approve your loan contract over the weekend, your loan may not be transferred until the next business day.

Am I eligible for bad credit loans NZ?

Are you considering using Monzi NZ’s convenient lender-finder? It is not difficult to see exactly why.

While we’d love to try and help everyone, we do have some basic criteria that consumers will first need to meet. So, before you get started, make sure you can say yes to the below criteria.

  • New Zealand Citizen or Permanent Resident.
  • 18 years or older.
  • Have a valid email address and mobile number.
  • Received a regular income for the last 3 months.

Ready to get started? Here’s how

We’ve made it our mission to try and help as many Kiwis as we can match with the lender they’re looking for. As a result, you can apply for loans in three easy steps.

  1. Apply online. Select the amount you’re thinking of applying for, as well as your ideal repayment terms.
  2. We search Our automated system will try and match you with a lender once you submit your application.
  3. Match. If we successfully pair you with a lender, they will first assess your application and get in contact if they can make an offer.

Make sure you check their loan offer. Specifically, check the loan amount and repayment terms offered; it may not be the cash loans you applied for on our site, but lenders will do their best.

Do you find no credit check loans online instant approval NZ?

As the lender-finder, Monzi NZ will not perform a credit check on your application. Instead, we simply compile your information into an application and aim to pass this on to a potential lender.

Moreover, Monzi NZ cannot guarantee whether or not a lender will perform a credit check. After all, performing a credit check is at the discretion of the lender themselves.

What we can guarantee, however, is that lenders will look at more than just your credit score. Instead, they may be able to focus on your current relationship with money, as well as your ability to afford the loan’s repayments.

As for the online instant approval? Well, Monzi business model is 100% online. In addition, both Monzi and our network of lenders aim to make things move quickly! In fact, we may be able to make things happen so quickly, it may feel almost instant.

What are no credit check loans?

When you’re in a financial pickle, things can become stressful enough as it is. If you, however, are looking for a loan but have poor credit, you may feel even more desperate. In these situations, it may be tempting to apply with a lender offering bad credit loans NZ no credit check.

While Monzi NZ will not perform a credit check, the lender we pair you with may. That does not mean however your application will be unsuccessful. People with very poor credit may feel like a no credit check loan is their only option. In other words, they feel their credit record is so bad, they will not be able to be approved for a loan any other way.

When you apply for a no credit check loan, the lender bases their decision on your income, expenses and employment status. No credit check loans, however, are often associated with payday lenders.

Luckily, payday lenders may not be the only option. Therefore, forget searching online for payday loans for beneficiaries with bad credit NZ, or bad credit payday loans guaranteed approval NZ. Instead, consider applying for bad credit personal loans NZ.

Are there such things as bad credit loans NZ with guaranteed approval?

If a consumer is approached by a lender offering bad credit loans guaranteed approval NZ, they should be very cautious, even if you find yourself in an emergency.

Why? In essence, credit providers are required by law to ensure a consumer only enters into a credit contract that is suitable for their situation.

A loan product is deemed unsuitable for the consumer when:

  • The credit provided does not meet the borrower’s needs and objectives.
  • The borrower is unable to afford the repayments on the loan. Or, is only able to do so under substantial hardship.

Therefore, to confirm the suitability of a loan product, lenders must:

  • Take reasonable steps to confirm the credit provided will meet the borrower’s needs and objectives.
  • Confirm the borrower will be able to afford repayments or comply with the contract, without suffering significant hardship.

Bad credit loans fast approval

At Monzi NZ, speed and convenience are always at the forefront of our minds. As a result, we aim to pair you with a lender in as little time as possible. If your application is approved by a credit provider, you will deal with them directly.

Loans for low income NZ

Monzi NZ aims to help all our applicants, regardless of income levels. In short, we will try our best to match your application with a potential lender.

Approval is, however, always at the discretion of the lender themselves. Therefore, consumers will only be able to offer you a loan if you meet their assessment criteria.

Use your assets

Did you know you could use your car to help you secure finance? How? By attaching it as security against your loan. Monzi NZ works with lenders that may be able to offer both secured and unsecured loans for people with bad credit.

What is the difference, you ask? As the name suggests, secured loans are supported by an asset as security. Unsecured loans, on the other hand, are not.

Attaching security to a loan reduces the level of risk posed to the credit provider.

As a result, lenders may be willing to offer larger amounts on a secured loan. In addition, lenders may also offer a more competitive rate for secured loans.

Unsecured bad credit loan

  • $300 to $2,000
  • No security required

Secured bad credit loan

  • $2,100 to $10,000
  • Security required

The above table is just a guide. The individual policies of lenders may differ.

Where can I get a $1,000 loan with poor credit history?

Everybody’s situation is different. In addition, each lender may have their own assessment criteria when it comes to credit history.

Consumers could, however, consider using our lender-finder service. In short, we’ll do our best to match consumers up with a credit provider that could potentially approve their application.

This being said, each credit provider may have their own assessment criteria when it comes to credit history. As a result, Monzi NZ cannot guarantee whether or not your application for $1,000 will be approved.

What about $5,000 bad credit loans NZ with guaranteed approval?

Unfortunately, Monzi cannot find bad credit loans guaranteed approval $5,000 NZ.

In short, lenders offering guaranteed approval may not be taking their responsible lending principles very seriously. As a result, Kiwi consumers should avoid dealing with companies like these.

While Monzi NZ is unable to find lenders offering guaranteed approval, consumers can absolutely still apply for a loan of $5,000. Then, we’ll do our best to try and match you with a lender that could potentially offer the $5,000 bad credit loans NZ you’re looking for.

We think Monzi NZ is great – you should too.

You may be wondering why you should use Monzi NZ’s lender finder service? Allow us to explore it in depth.

Easy application

Our 100% online application form could be filled out in minutes. After all, we only ask for the essential information.

Repayments on your terms

When you submit an application with Monzi NZ, you can propose your ideal loan terms.

The lenders Monzi NZ works with may be able to offer a range of instalment plans. Depending on the loan you take out, your loan repayment terms may range anywhere from 12 to 24 months. In addition, you may be able to choose a weekly, fortnightly or monthly basis.

Finally, a direct debit will be set up from your account. Then, your repayments will be automatically deducted until you have fully repaid your loan, at which point the direct debit will automatically stop.

The repayment terms offered, however, may vary depending on the lender you’re paired with.

We get to work quick

Our intelligent automated system gets to work straight after you hit submit. If you apply during normal business hours, you may even receive an outcome within 60 minutes.

100% online

Each step of the Monzi NZ lender-finder process takes place online. What exactly does this mean for consumers in New Zealand? Well, a few things:

  • Lodge an application at any time, from anywhere.
  • No time spent in queues or listening to please hold music.
  • No paperwork.
  • Speedy outcomes.

We’re on your team

While we are 100% online, there is a human element on the other side of the screen. In short, Monzi NZ aims to balance the convenience of an online system, with a strong customer support service.

If you have any questions or queries regarding Monzi NZ, you can reach us at Keep in mind, however, that our customer service team needs their sleep too. Therefore, if you get in contact outside of normal business hours, we’ll get back to you as soon as we’re back in the office.

Seamless introduction

We aim to match you with a potential lender as quickly and as effortlessly as we can. If we are successful, your new lender will be in contact.

Your lender will conduct an assessment of your application and if you’re approved, send through a digital loan contract.

Access to a quality network of lenders

Being lender-finder experts, Monzi NZ has built up a trusted network of quality lenders from around the country.

In addition, Monzi NZ’s network of lenders all take their responsible lending practices seriously.

Bad credit? We get it

Life rarely goes to plan – we understand this.

Moreover, we get that a few financial mistakes in the past don’t dictate what kind of borrower you are today. After all, who can honestly say they are the same person they were a year ago?

That’s why Monzi NZ’s network of lenders may be able to offer bad credit loans NZ. While a credit check may occur on your application, these lenders may still be able to offer you a loan.

New Zealand wide

You can use our lender-finder service from any corner of Aotearoa. Regardless of whether you’re in Whangarei or Dunedin, Christchurch or New Plymouth, Monzi NZ can try and match you with a lender.

Transparency is key

Monzi NZ will always be upfront and honest about all aspects of our lender-finder service. Moreover, the lenders Monzi associates ourselves with will always be honest about the fees and charges associated with their loan.

More specifically, all the rates, fees and charges associated with your loan will be outlined in your loan contract. Therefore, read through your contract carefully before approving it.

I can’t afford my bad credit loans NZ repayments!

If you are concerned you will be unable to afford an upcoming repayment, get in contact with your lender as soon as possible. In general, lenders are aware that life happens. So, if your regular budget is thrown off balance by an unexpected expense, let your lender know.

Your lender may be able to reschedule or skip your repayment for a contractual fee.

What happens if my life changes?

If something happens in your life that drastically affects your ability to repay your loan (i.e. get seriously injured or lose your job), you may be able to apply for financial hardship.

Credit providers have departments in place to help consumers deal with financial hardship. In general, the process for applying for hardship is as follows:

  1. Notify your lender of your financial hardship.
  2. Your lender will ask for relevant information. This may include a statement outlining your financial position, your employment and income details, as well as supporting medical evidence (if applicable).
  3. The credit provider will assess your application.
  4. You will receive an outcome in writing.
  5. If you are approved, you will need to comply with the new terms of your agreement. The lender will not alter your credit contract if you’re decline.

Warning against borrowing

While bad credit loans NZ may be a welcome helping hand to cover a cash shortfall, they may not always be your best option. Personal loans are never meant to cover daily expenses like rent and food.

If you are unsure as to whether a bad credit loan is a good option for you, you can seek free financial help. You can find a financial counsellor near you through the Citizen’s Advice Bureau. Alternatively, you can call the Citizen’s Advice Bureau nationwide on 0800 FOR CAB (0800 367 222).

Can I get a loan with bad credit history?

In short, potentially; it’s up to the lender themselves.

Take the guesswork out of finding a lender with Monzi NZ. Are you ready to lodge an application?

Factor In


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Here are some costs you may incur if Monzi is able to match you with a lender today.

Loan amount

$300 - $10,000


12 months to 24 months


Interest Rate between 1.5% and 20% per month

$2,500 repaid over 13 months would have 56 weekly repayments of $75.05. Total interest $1702.80. Total amount repayable $4,202.80. This example is based on a monthly interest rate of 9% and an AIR of 108%.

WARNING: This is a repayment estimate only. Your lender will determine the exact fees, terms and loan amounts available for you, which may alter your repayments. Annualised Interest Rates (AIR) could be as high as 292% depending on your personal situation.
Note, your lender may offer you different terms, fees or loan amounts based on your individual circumstances, needs and their own lending criteria. Please check your contract before signing