If you need $1,000 urgently, you can apply for an unsecured payday loan and have up to 12 months to pay it off. Some lenders may approve your application within a couple of hours. These loans are not designed to be a long term financial solution but are typically used to cover the cost of necessities until payday, for example, car repairs.
If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the MoneyTalks helpline operated by FinCap on 0800 345 123. It is open from 8:00am to 5pm, Monday to Friday and 10am to 2pm Saturday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged.
Alternatives to short-term loans
Consider these alternatives before applying for a payday loan:
Use online Government resources. The Commerce Commission New Zealand website explains how loans works and what to be aware of when borrowing from a lender.
Payment plans. Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan or receive an extension on your due date if you’re behind on payments.
Contact your creditors. Speak with creditors about extending the due date of your payment, or working out a new payment plan that works for both of you.
Seek personal loans elsewhere. Consider a small personal loan from a bank or a credit union. You may qualify for a loan with much lower interest rates than those offered by payday loan companies.
Pay with credit card. Consider paying with your credit card to cover your emergency bills or payments. This is not a long term solution, as you’ll need to pay off the balance as soon as possible, but it’s an alternative to a short term loan with high – and immediate – interest rates.
$1000+ short-term loans you can apply for now
How can I get a $1,000 loan?
Start by finding a suitable lender from the table above. You can compare your options by looking at the loan amounts available, the loan costs and how quickly you can receive the loan. One of the most important aspects is the eligibility criteria, so be sure to check this.
Click through to the lender’s site once you decide which loan to apply for. You can review the final fee and loan terms on the site and submit your application. You need your personal, employment and banking details on hand, as well as information about your income, debt and any assets.
Find out if the lender approves your loan in a few minutes and receive the contract soon after. Lenders usually send the loan on the same or next business day.
How much will the loan cost?
You usually repay loans of up to $2,000 over a term of 2 days to one year. With the providers above, yearly interest rates vary from 49.95% p.a. to 292% p.a. with loan terms from 8 to 52 weeks.
Am I eligible for a $1,000 loan?
The eligibility criteria differs between lenders. Here’s what to consider:
Age. You need to be over 18.
Residency. You need to be a New Zealand citizen or permanent resident.
Income. You need to be earning a regular income of at least $350 to $400 per week net.
Work and Income. If you receive Work and Income payments as a whole or part of your income, lenders may have various criteria you need to meet.
How you can compare your options
Fees. Make sure you check out the full cost of the loan on the lender’s website.
Repayments terms. Usually, payday loans have a short repayment period. Typically, lenders structure your repayment dates around when you get paid, with the term ranging from 2 days to one year.
Lender’s reputability. It’s essential to check the reputation of the lender before submitting your application. How easy are they to contact and how transparent are they with fees and information? All the lenders you can apply with directly through finder.com/nz are a reputable provider.
Frank and Claire need a loan
Claire was on the way to the office when her car broke down. She was told the repairs would cost $950 to get the car back on the road. Claire and her husband Frank share the car, so it was important they had it fixed. The trouble was, their credit wasn’t great, due to a few missed mortgage repayments, and they weren’t going to be paid until the end of the month.
Claire jumped online to see what her finance options were. She found a lender offering a $1,000 cash loan so she applied. After being approved, she received her loan amount the following morning.
Things you should consider with a $1,000 cash loan
They offer a quick turnaround time. Lenders can process these loans within a couple of hours, and they can be in your account in as little as an hour or one business day.
The documentation required is minimal. You don’t have to upload various documents to support your application. For example, you can usually supply some recent bank statements.
They have higher interest fees. As a high-risk loan on the part of the lender, $1,000 loans tend to come with higher fees. Please make sure you also consider account dishonour and late payment fees.
There are some disreputable lenders. Some lenders may try to take advantage of people who need cash quickly. Always do your research on the provider before submitting a loan application.
Thinking of applying? Read this first
Repeat borrowing. Some lenders allow you to borrow again, even offering member areas that make the second loan more accessible than the first. While this is a convenient option to have available, it can also be a dangerous trap. Consider your financial position and the cost of convenience, for a quick $1,000. Does another loan hinder more than help you?
High fees. Payday loans come with very high costs when compared to more traditional forms of credit, so consider your loan options before you apply.
How to apply for $1,000 cash loan
If you find a cash loan you’d like to apply for through the above comparison tables, please click “Go to Site” to be taken to the application page. Most forms take about ten minutes to complete, and you usually find out if the provider approves your loan in a few minutes.
When it comes to receiving your loan, it depends on when and with whom you apply. Some lenders can have the $1,000 in your account within an hour of you accepting the contract, while other lenders may have it to you the next business day.
What kind of information do you need to provide?
This differs between lenders, but usually, lenders require the following:
Recent bank statements
Personal details, including your name, driver licence number and contact information
Where you work, how long you’ve been there and the details of your employer
Your financial position, including income and pay frequency, plus your current debt, assets and liabilities.
Remember, you should always compare all your loan options before applying. There are a multitude of finance options available to you, so it’s essential to consider them before you apply to make sure you get the right one for you.
The eligibility criteria differ depending on the lender. To see if you’re eligible for a loan, just click on the name of a loan from the table above and review the eligibility criteria.
Most short-term payday lenders operate solely online and have dedicated loan approval systems that make it easy to apply, which means lenders may require you to upload documents to apply. They can usually verify your finances and identity online.
Repayment terms vary, but payday loans are designed as short-term financial solutions and so you usually repay them quite quickly. Some payday lenders schedule your repayments so you repay your entire loan in one to two months, while with others it is up to a year.
Most lenders direct debit the specified loan amount on the repayment due date. This direct debit is from your nominated bank account into which you receive your pay.
It’s essential to get in contact with your lender as soon as possible before the loan repayment is due. If you do this, you may be able to avoid a direct debit dishonour fee and a late payment fee, as some lenders may reschedule payments. In any case, speaking to your lender is the right place to start.
Matt Corke is Finder's head of publishing for rest of world and New Zealand. He previously worked as the publisher for credit cards, home loans, personal loans and credit scores. Matt built his first website in 1999 and has been building computers since he was in his early teens. In that time, he has survived the dot-com crash and countless Google algorithm updates.
If you want to reduce your taxable income but get something for it, such as your next car, you can consider salary sacrificing it with a novated lease. Find out exactly how it works and if its right for you.
Find out how to transfer money from a credit card to your bank account, and what fees you might pay.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.