Payday Loans – Monzi NZ Explores Your Options

Payday loans present a convenient and easy way for Kiwis to access credit. Monzi NZ is here to explore payday lenders, as well as the other loan products our network of lenders may be able to offer. Make finding finance online a breeze with Monzi NZ.

Silhouette of man in cafe browsing online for payday loans

What are payday loans?

Generally, they are small loans that can be easily applied for and, once approved, quickly accessed. These loans are designed to give you a financial boost until your next paycheque, hence the name. Depending on the lender, your repayment terms could range anywhere from a few weeks to several months.

Comparing payday loans – what to look for

Due to the relatively low level of regulation around these lenders in New Zealand, payday lenders NZ can often vary in the terms offered. Therefore, it is important for Kiwi borrowers to know what to look for when comparing cash loans.

So, if you’re shopping around for these lenders, consider the following:

  • Interest rate. Pay attention to the annual interest rate (AIR). Obviously, the higher the AIR, the more expensive the loan is.
  • Fees and charges. This can include initial fees (establishment fee) as well as default fees for a failed payment.
  • Repayment flexibility. Can you choose how long your repayment terms are? Moreover, are you able to make early repayments without a penalty fee?
  • FSCL/IFSO membership. Is your lender a member of either the Financial Services Complaints Ltd. (FSCL) or the Insurance & Financial Services Ombudsman (IFSO)?

Can you go to jail for defaulting on payday loans?

No, you cannot be sent to jail for failing to repay a short term loan.

However, if you fail to settle your debts, your lender is legally able to:

  • Employ a debt collection agency to recover the debt.
  • Sell the debt to a debt collection agency, who will then become the creditor.
  • Take the consumer to court to recover the debt plus extra costs.
  • Use other avenues available through the courts.
  • Repossess products bought on credit or assets attached as security against the loan.

While there are steps lenders are allowed to take to recover their debts, consumers are also protected by New Zealand law. For example, a lender is only able to repossess goods if:

  • The consumer’s credit contract expressly gives the credit provider the right to legally repossess, or enter the premises for the purpose of repossession.
  • Consumer has failed to make payments or has breached the credit contract.
  • The credit provider believes the products may be destroyed, damaged or removed.
  • They are a registered financial service provider.

For a more comprehensive outline of the rights of consumers with overdue debt, visit the Government’s consumer protection site.

How do I qualify for a payday loan?

In New Zealand, payday lenders may all differ slightly in terms of their eligibility criteria. For example, lenders may differ in terms of the minimum required income levels.

Generally, however, to qualify for payday lenders NZ you will need to meet the basic criteria listed below:

  • At least 18 years of age.
  • A New Zealand resident or Citizen.
  • Receive a regular weekly income, paid into your personal NZ bank account.
  • Must not be Bankrupt, or under a Summary Instalment Order or No Asset Procedure.

Keep in mind, your lender may ask you to provide proof of all of the above. This can often be done by providing photocopies of the above information.

Are there alternatives to payday lenders?

While payday lenders may be a quick and easy option for Kiwis, Monzi NZ may also be able to match consumers with lenders offering personal loans.

Personal loans are often available at larger amounts than payday lenders. Furthermore, personal loans may also offer longer and more flexible repayment terms. However, keep in mind lenders may all vary in their terms offered.

The below table outlines their personal loan alternatives:

Payday loans NZPersonal loans NZ
Payday lenders bad credit NZPersonal loans bad credit
Payday lenders online NZPersonal loans online
Payday loans NZ no credit checkPersonal loans NZ no credit check

Note, the above table is for demonstrative purposes only. The terms presented do not necessarily reflect the loan products offered by Monzi NZ’s network of credit providers.

I’m looking for a lender that won’t perform a credit check

We understand how a poor credit record can hang around like a bad smell. Moreover, a few financial mistakes in the past can still affect how we access finance in the present! Therefore, Kiwis who search online for cash loans NZ no credit check, or instant loans no credit check no paperwork NZ, may feel their credit record is so poor, they will not be able to access credit any other way.

As Monzi NZ is the lender-finder, we cannot guarantee whether or not the lender you’re paired with will perform a credit check. After all, performing a credit check may be part of the lender’s assessment policy.

Monzi NZ however, can guarantee our network of lenders may be able to focus on more than just your credit score. More specifically, the lender you’re paired with may also be able to focus on your current relationship with money.

Do any lenders offer guaranteed approval?

Technically, no lender should be offering a loan with guaranteed approval no matter what.

After all, by definition, guaranteed approval loans are available to any consumer, regardless of their income, benefit or employment status. Lenders, however, are required by law to take reasonable steps to confirm a loan product is suitable for the consumer.

What does suitable mean? In short, a loan product is suitable for the consumer when:

  • The consumer’s needs and objectives are met.
  • The consumer is able to afford the repayments without experiencing significant hardship.

Therefore, to confirm the above list, credit providers may be likely to asses:

  • The borrower’s income levels and employment status.
  • The credit history of the borrower.
  • Regular expenses of the borrower.

Therefore, consumers should be cautious of any lender offering bad credit cash loans guaranteed approval NZ. After all, dishing out loans without any level of assessment is not responsible lending.

How can I get fast money with bad credit history?

When life throws one of its famous curveballs your way, you may find yourself looking for fast cash loans. However, trying to navigate the world of online lenders can often feel confusing at times and potentially even overwhelming, especially if you have an emergency expense breathing down your neck!

Fortunately, there are lenders out there that may be able to quickly get the cash you need in your pocket!

However, finding these lenders may be a task in itself – this is where Monzi NZ can help! We may be able to pair you with a lender that can potentially give you the loan you need.

In short, we take all the hassle out of finding a lender online. In other words, instead of spending hours trawling through different lender’s websites, apply once with Monzi NZ, and we’ll try and match you with an appropriate lender.

Looking for payday loans bad credit? Consider Monzi NZ’s lender-finder service.

Who Is Monzi NZ?

Kia ora – it’s us!

Monzi NZ does things a little differently. Technically, we do not provide credit at all. Instead, we are a lender-finding service. Therefore, we try and match Kiwi consumers up with a quality lender potentially offering either payday or personal loans.

We’ll always work as quickly as we can to match you with an appropriate lender. As a result, you can forget the days of queueing in the bank or wasting half your day listening to please hold music.

We keep eligibility easy

As part of our mission to help as many Kiwi borrowers as we can, we’ve kept our minimum eligibility criteria as simple and as open as possible. So, before we can start trying to find you a credit provider, you will just need to make sure you meet the below criteria:

  1. 18 years of age.
  2. New Zealand Citizen or resident.
  3. Have a personal contact number.
  4. Received regular income for the last 90 days into a personal bank account.

How do I get started?

Itching to get started with Monzi’s lender-finder service? Not only our service easy to use, but we may have an outcome for you sooner than you expect. Here’s how to get going with Monzi NZ:

Apply for payday loans online

Applying online is incredibly straightforward. Consumers can get started by scrolling up to the loan slider at the top of this page. Next, select the loan amount you’re thinking of borrowing and click Apply Now.

Now, consumers will be taken to the submission form. We only ask for the essential information, so you may be able to complete your application in minutes. Once you’ve provided all the information you need, click submit.

We get to work

Once you submit your application, our automated system will try and pair you with an appropriate lender. If you apply during normal business hours, you may receive an outcome within 60 minutes.


We’ll let you know about the outcome via text and email. Generally, if we successfully match you with a credit provider, they’ll get in contact with you directly. From here on in, you’ll only deal with your credit provider.

If you’re successfully paired with a lender, they’ll assess your application. If you’re approved, they will send through a digital loan contract for you to read through.

It is important you read your contract thoroughly. In particular, pay close attention to the interest rate, as well as the fees, charges and terms of your loan. If you’re happy with everything you’ve read, approve your contract.

Finally, your lender will transfer your funds after you approve your contract.

When will I see my payday loans cash?

If you need a loan to cover an emergency expense, chances are you need a cash advance can be processed and transferred quickly. Generally, your credit provider will be able to transfer your loan after you approve your loan contract. Access to funds, however, is dependent on inter-bank transfer times.

Often, however, most consumers if approved can expect to be able to access their loan within 24 hours of approving their contract.

I need a lender that will not contact my employer!

Monzi NZ understands applying for credit may feel a little awkward. As a result, you may want to avoid any lender that will get in contact with your employer.

Employment checks, however, may be part of the lender’s assessment process. In addition, as the lender-finder, Monzi NZ cannot speak to the policies of individual lenders. As a result, we cannot guarantee whether or not your lender will perform an employment check.

What we can guarantee, however, is lenders are very discreet when it comes to contacting your employer. In other words, they will never disclose that you’re applying for a loan, nor the reason for your loan.

24/7 lender-finder service for payday loans

We’ve kept our business 100% online for a few reasons. Obviously, having a 100% online application process keeps our business paperwork free! In addition, consumers are able to use our service from any computer or internet-capable device. Moreover, consumers can use Monzi NZ’s lender-finder service 24 hours a day, 7 days a week.

If consumers apply outside of normal business hours, however, we may not get to your application until the next business day. In other words, if you apply for weekend cash loans, you may not receive an outcome until the following business day.

Why choose Monzi NZ?

You may be sitting there wondering why you should use Monzi NZ’s lender-finder service. After all, you could definitely apply with a lender yourself.

Well, in essence, Monzi NZ may make your life easier. More specifically, there are certain features of our lender-finder service that make Monzi NZ the best in the business.

Apply in no time!

Trust us, you aren’t the only ones that value speed and efficiency. In fact, when you apply with Monzi NZ, we’ll aim to process your application and (hopefully) match you with a lender as quickly as we can.

Depending on when you apply, you may receive an outcome within 60 minutes. This is, however, only during business hours.

100% online

Apply from anywhere and at any time! All you need is an internet connection and a spare few minutes.

Paperwork free payday loans

Both Monzi NZ and the lenders we work with employ some of the latest in banking technology. As a result, your bank statements can be digitally accessed. Therefore, consumers will not need to fill out any paperwork. Not only is this super convenient, but it also gives the trees a little bit of respite.

Best in the game

In short, we’re the lender-finder experts. We’ve built up a trusted network of lenders that may be able to offer you what you need! So, if you’re looking for either payday or personal loans, Monzi NZ may be able to help.

Bad credit considered

At Monzi NZ, we don’t discriminate. Therefore, even if you have a lacklustre credit record, we’ll still aim to match you with a lender. Moreover, we work with lenders that may be able to offer bad credit loans.

Stress-less credit checks

We cannot guarantee whether or not your lender will perform a credit check on your application. What we can guarantee, however, is lenders may be able to focus on more than just your credit history.

If the idea of credit checks sends a shiver down your spine, consider instead a lender found through Monzi NZ’s lender-finder.

Crystal clear and above board

Monzi NZ is alway transparent about our lender-finder service; we’ll always be upfront with you. Moreover, if we aren’t able to pair you with a lender, we’ll let you know straight away.

In addition, our network of lenders will never hide or be misleading with the fees and charges associated with your loan. As a result, all the rates, terms and payable fees and charges will be included in your loan contract. If you don’t understand anything in your contract, your lender should be able to walk you through every step.

Customer support

We love the convenience of our 100% online system. This, however, does not mean Monzi does not value customer support.

If you ever have any questions about our lender-finder service, you can talk to a real person at

How do I make repayments?

Generally, paying your loan off is super simple and straightforward:

  • You and your lender will reach an agreement on the repayment terms and schedule.
  • A direct debit will be set up from your bank account.
  • Your repayments will automatically be deducted on the agreed-upon schedule.
  • Once you fully repay your loan, the direct debit will stop.

Therefore, borrowers do not have to worry about manually making repayments. Moreover, lining the direct debit up with your pay cycle may make life easier. However, if you would prefer to make manual payments, ask your lender.

How much can I expect to pay on payday loans?

Potentially the most important question for most borrowers. After all, a low interest loan may save you a substantial amount of money. At Monzi, we completely understand borrowers looking for the best deal possible.

Unfortunately, as the lender-finder, we cannot give you an idea of how much you will pay. This is because all lenders may vary in terms of the cost of their loan. As a result, you will need to get in contact with an individual lender directly to get an idea of the cost of their loan product.

What happens if I can’t afford one of my payday loans repayments?

Has an unexpected trip to the dentist ruined your budget for the next week? Or, perhaps your child has just told you about an upcoming school trip that you now need to fork out for? Whatever it is, your ability to afford a repayment or two may change.

In short, life happens and you would have to be crazy to think everything will always go to plan. Therefore, there may be times when you are unable to afford one of your repayments. In these situations, however, most credit providers are pretty understanding.

Generally, if you give your credit provider 24 hours notice before the payment is due, they should be able to reschedule your repayment for a contractual fee.

I’m experiencing financial hardship

If your circumstances drastically change (i.e. you lose your job or are no longer able to work) your capacity to afford your loan’s contractual repayments may be affected. If you are experiencing this, you may be eligible to apply for financial hardship.

When you apply for financial hardship, you will need to provide your lender with evidence of hardship. This, for example, could be in the form of a medical certificate or termination of employment documentation. Once you submit your application, the lender will assess your claim.

If you are approved for financial hardship, your repayments may be restructured.

I’m ready to get started

Excellent! Simply scroll up to the loan slider and let’s get going.

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