$1,200 fast cash loans

Trying to find a way to cover emergency cash shortfalls can be stressful. You might start looking for a loan, only to see you don’t meet the criteria because of your credit history, income or employment status. No matter what your financial circumstances, there are options available to you. Whether it’s a lender with less stringent criteria, or a no or low-interest loan.

Compare short term loans from $1,200

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Name	Product	Max Loan Amount	Loan Term	Turnaround Time	Loan Interest	Establishment Fee	Account Administration Fee
Moola Payday Loan		$1,500	Up to 182 days	Same day	292% p.a.	$0	N/A	Eligibility: Be 18 or over, be in employment and be a New Zealand citizen, permanent resident or have a valid working visa. Borrow up to $1,500 and enjoy a flexible repayment plan.	Go to site More Info	Compare	loading Fetching your data...
Save My Bacon Flex Loan		$5,000	8-52 weeks	Same day	49.95% p.a	$95	$10	Eligibility: Be 18 or over, have an income of at least $400 per week and be a NZ citizen, permanent resident or have a valid work visa. Medium term loans from $1,000 to $5,000 with no hidden fees.	Go to site More Info	Compare	loading Fetching your data...

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What $1,200 loan options are available?

• If you have bad credit

Loan options are more limited when you have bad credit. When it comes to a $1,200 loan, many payday lenders will consider you even if you have negative marks on your credit file. What you need to show is your ability to manage the loan repayments, whether this is through Work and Income payments or regular employment.

• If you have good credit

There are more options available if you have good credit. If you need the money urgently, check if your bank offers same-day personal loans to existing customers. If it doesn’t, an overdraft can usually be set up from your transaction account within a day, giving you access to a line of credit. While you have the option of applying for a conventional personal loan, these are usually available for amounts upwards of $5,000.

• If you’re eligible for a low or no-interest loan

Low and no-interest loans are essentially financial assistance programs, aimed at those receiving Work and Income payments or on lower incomes. To be eligible, you usually need to:

• Have a Community Services card or pension card
• Have resided at your current address for more than three months
• Show a willingness and capacity to repay the loan
• Not be using the loan to pay rent, bills or a holiday

The loan is usually designed to finance essentials, which includes household items, such as furniture, washing machines and fridges, and some medical, dental services and educational necessities like computers and textbooks.

How you can compare and find the right loan for you

• Know what you’re eligible for. You may be acceptable for some lenders and not others, so check the minimum eligibility before you apply. You need to meet requirements for income, age and residency, and there may be restrictions if you receive Work and Income benefit.
• Check what the fees will be. Ideally, check out the cost on the loan providers website before you apply, or on your loan product disclosure statement (PDS).
• What are your repayments? While your repayment terms, such as how long you have to repay the loan, may vary, your provider will usually structure the repayments according to the frequency of your pay.

The costs of borrowing $1,200

For a loan under $2,000, you typically have to repay it within a term of two days to one year.

Finder has reviewed a range of short term lenders, so find one that suits your requirements, and to view the terms and conditions, see its website.

Questions you might have about $1,200 loans

• Can I apply for a loan if I receive Work and Income payments?

  Yes, some lenders offer loans to Work and Income applicants who show they can manage the repayments. Review the eligibility criteria before you apply to see the requirements you need to meet.

• When will I receive my loan?

  This differs between lenders. Potentially, if you submit your application and accept your loan contract before 2:30pm on a business day, you will receive your loan amount on that same day. Some lenders can have the loan to you within the hour.

• How do I make repayments?

  Your lender will outline this in your loan contract. However, the loan repayments are usually direct debited from the bank account the provider deposits your loan into, on the agreed upon dates.

• I won’t have enough money to cover my repayment. What do I do?

  The first step is to get in touch with your lender; this may save a late fee or a direct debit dishonour fee. Your lender may be able to set up a payment plan or delay the repayment for you.

• When can I apply for another loan?

  It is important to note that payday loans aren’t designed to be a long-term financial solution. If you do need to ask for another loan, you need to completely repay the first loan before applying. You can apply with the original lender or find a different one.