BNZ Personal Loan

With loan terms of 3 months to 5 years and flexible repayments, existing personal banking customers can apply for a BNZ personal loan

With over 150 years of providing financial services to Kiwis, BNZ is one of New Zealand’s most well-known banks. As well as winning numerous awards for different areas of its business, It has a ‘more than just banking’ mantra, which is evident in the work that it does to support communities, charities and organisations.

You can apply for a personal loan if you’re an existing BNZ customer, and if you’re not, you may be interested in making the switch from your current bank. Read on to find out more about what a BNZ personal loan has to offer.

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12.65% (students/graduates) - 17.85% (standard)

Interest Rate (p.a.)


Max. Loan Amount


Minimum Credit Score


Product NameBNZ Advanced Personal Loan
Interest Rate (p.a.)12.65% (students/graduates) - 17.85% (standard)
Min. Loan Amount$1,000
Max. Loan Amount$30,000
Loan Term3 months to 5 years
Turnaround TimeBNZ customers will get instant access to their money once the loan has been approved, or draw down within 21 days.
More Info

Pros and cons


  • No early repayment fee
  • Can borrow up to $30,000
  • Flexible loan terms
  • Special interest rates for students and graduates


  • Only BNZ customers can apply
  • Variable interest rates, not fixed for the life of the loan

Features and benefits of a BNZ loan

  • Flexible repayments. You won’t be penalised for making additional payments on your loan. If you have some extra cash in some months, transfer it to your loan so you can pay it off faster without early repayment fees.
  • Choose a term to suit. With loan terms ranging from 3 months to 5 years, you can decide what suits your financial situation best.
  • Manage your loan online. You can view your BNZ personal loan balance through internet banking and make repayments at any time.
  • Top up your loan. If you need some extra money, you can apply to top up your loan either by phone or in a BNZ branch.
  • Instant access to money. BNZ customers will get instant access to their money once the loan has been approved, or draw down within 21 days.
  • Student and graduate special benefits. If you are a student, recent graduate or apprentice, you’ll enjoy the special interest rate of 12.65% and the loan facility fee will be waived.
  • Financial hardship variation. You can apply for hardship variation if at some point during your loan term you are having trouble meeting your payments due to factors such as loss of employment, illness or injury. If approved, BNZ will either postpone your payment obligations or reduce your payments by extending the loan term.

What can I use a BNZ personal loan for?

  • Debt consolidation. BNZ personal loans can be used to consolidate debt that you have with different providers including credit cards, overdrafts, car loans and hire purchases. By consolidating these debts together you can have better control over your finances, only one repayment to worry about and you may end up saving money in interest and fees.
  • Vehicle finance. By getting pre-approved for a BNZ personal loan, you can have confidence when shopping for your next vehicle.
  • Home improvements. Use your BNZ personal loan to make renovations on your home.
  • Other purchases and payments. You may also take out a loan to pay for a dream holiday, pay for medical costs or education fees, or for other purchases like new furniture.

How much does an BNZ personal loan cost?

If you apply for a BNZ personal loan, you may be charged a loan processing fee of $50. A BNZ personal loan has a standard variable interest rate of 17.85% p.a.but you could get a special rate of 12.65% if you are a student or graduate. Rates are variable and can change at any time during your loan contract.

How to apply for a loan from BNZ

Before you decide that a BNZ personal loan is right for you, compare the rates and terms against other lenders. If you are ready to apply, check that you meet the eligibility and documentation requirements below. You can apply online by logging into your BNZ Internet banking account or through the BNZ app. If you don’t have access to online banking, you can either call 0800 800 667 or make an appointment at your local branch to discuss your options and start your application.

Eligibility requirements

  • You need to be at least 18 years or over
  • Only existing BNZ personal banking customers are eligible for a personal loan
  • You must be a New Zealand resident
  • You must be able to pass a credit check

Information and documentation

  • Identification. You will need to show BNZ proof of identification such as a passport or driver’s licence.
  • Income details. You will need to provide details of your employment and the income you receive.
  • Expenses and debts. So that BNZ can decide if you are able to meet your loan repayments, you will need to outline your monthly financial commitments including your rent or mortgage, expenses, bills and debt payments.

What other products does BNZ offer?

  • Everyday banking. Transactional accounts with a Visa debit card and savings accounts with bonus interest.
  • Home loans. Whether you are a property investor or first-home buyer, BNZ has a range of mortgage options.
  • Credit cards. Choose between a low-rate card to save on interest or a rewards card to earn Fly Buys points or cash rewards when you spend.
  • Investments. Put your savings into a term deposit or managed fund to gain interest over a term that suits you.
  • Insurance. BNZ provides insurance policies for health, life, travel, vehicle, boat, home and contents.
  • International. Manage your foreign currency in a call account or term deposit.

Bottom line

With a BNZ personal loan you can borrow between $1,000 and $30,000 with loan terms of up to 5 years. Highlights include having the option to top up your loan, and no early repayment penalty. The only catch with this loan is that you have to be a BNZ customer to apply.

Compare personal loans

Name Product Interest Rate (p.a.) Min. Loan Amount Max. Loan Amount Loan Term Monthly Service Fee Establishment Fee
Harmoney Unsecured Personal Loan
6.99% - 19.99%
3, 5 or 7 years
Eligibility: Be an NZ resident/citizen and have a good credit score.
Apply for an unsecured personal loan up to $70,000 with no early repayment fees.
FROM 6.99%
The Co-operative Bank Unsecured Personal Loan
6.99% - 17.75%
6 months to 5 years
Eligibility: Be 18+, an NZ citizen/permanent resident, or have a valid work visa.
Floating-rate, unsecured personal loans from $3,000.
Lending Crowd Personal Loan
6.45% - 19.30%
2, 3 or 5 years
$350 - $650 depending on the amount borrowed
Eligibility: Be an NZ resident/citizen and have a good credit score.
Secured and unsecured personal loans from $2,000 to $200,000. 100% online with no paperwork or early repayment fees.
Nectar Unsecured Personal Loan
8.95% - 29.95%
6 months to 4 years
Eligibility: Must be 18+, an NZ citizen or permanent resident, have an income of $400 per week or more (after tax) and a stable credit history.
Unsecured loans from $1,000 with payouts made within one day of approval. Applications entirely online.
Save My Bacon Unsecured Flex Loan
12 to 36 months
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 unsecured loans from $2,000 to $5,000 with no hidden fees.

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