MyFinance Personal Loans

With loans starting from just $1,000, you’ll get treated like a real person when you apply for a MyFinance personal loan.

Offering fast approval times and competitive rates, MyFinance prides itself on treating customers like real people without the muck around or third degree. This provider is based in Auckland but lends to Kiwis all around the country, with applications completed online and friendly phone service during the processing of your loan.

Whether you are looking for a loan for personal reasons, a new car or to consolidate your debts, MyFinance strives to make your experience smooth, fast and stress-free.

No reviews yet. Write a review

13.95% - 24.95%

Interest Rate (p.a.)


Max. Loan Amount


Minimum Credit Score


Product NameMyFinance Secured Personal Loan
Interest Rate (p.a.)13.95% - 24.95%
Min. Loan Amount$1,000
Max. Loan Amount$50,000
Loan TermUp to 5 years
Turnaround Time1 hour processing if all necessary documents are supplied during application.
More Info

Pros and cons


  • Can borrow up to $50,000
  • Flexible payment options
  • Quick loan assessment


  • Early settlement fee
  • Administration fee
  • Security may be needed

      Features of a MyFinance personal loan

      Personal loans from MyFinance can be a flexible option for managing your finance. Here are the main features of a MyFinance personal loan.

      • Fuss-free finance. Most loans are processed within one hour and funds sent to your account quickly.
      • Transparency in fees. All possible fees are listed on the MyFinance website so you can understand all administration costs and what you might be charged if you default on your payments.
      • Competitive interest rates. Once your application has been approved, you will be offered the most competitive interest rate based on your individual circumstances. Your interest rate is fixed for the term of your loan.
      • Flexible payment options. Choose a loan term between 3 months and 5 years and either weekly, fortnightly or monthly repayments to tie in with when you receive your salary or wages. The standard maximum term is three years.
      • Low credit options. MyFinance understands that not everyone has a perfect credit history. You are still welcome to apply and your application will be strengthened if you are able to provide a guarantor or co-borrower.
      • Loan security. You can use property, vehicles or boats to secure your loan.

      How much does a MyFinance personal loan cost?

      If you apply for a MyFinance personal loan, you will be given a fixed interest rate between 13.95% - 24.95%. You may be charged a loan establishment fee of up to $260 depending on the size of the loan.

      Other fees you may incur include:

      • An administration fee of $3 per instalment charge
      • An early repayment fee
      • Various default fees
      • Default interest at current rate plus 10%

      Types of personal loans from MyFinance

      • Personal loans. You can take out a MyFinance personal loan for a number of reasons. You may be planning a dream holiday, needing to pay for school fees, organising a wedding or starting some home renovations.
      • Car finance. MyFinance provides loans of up to $50,000 for the purchase of cars, boats, campervans and motorcycles. You can choose your new vehicle first before applying for a loan, or get pre-approval before you start shopping.
      • Debt consolidation. If you’re having trouble keeping track of different repayments for credit cards, hire purchases or loans, you can consolidate your debts with a MyFinance loan. This allows you to take charge of your finances with only one provider, one payment schedule to worry about, and often less fees and interest.

      How to apply for a loan from MyFinance

      If you are ready to apply for a personal loan, make sure to check the MyFinance terms against other comparable lenders and that you are able to provide the requested information and documentation. You can complete the application form on the MyFinance website and one of the loan managers will contact you regarding the next steps.

      Eligibility requirements

      To be eligible for a MyFinance personal loan you must be at least 18 years old and a New Zealand resident. If you are applying for vehicle finance, you will need to hold a restricted or full New Zealand driver’s licence.

      Information and documentation

      When you complete the online application you will be asked for the following:

      • Personal and contact details
      • Driver’s licence type and number
      • Relationship status
      • How long you have lived at your address
      • Employment and income information
      • Whether you own a car or home
      • Any additional information to support your application

      When a MyFinance loan manager contacts you to discuss your application, you will be asked to provide documentation to verify who you are and your income.

      Bottom line

      MyFinance offers personal loans between $1,000 and $50,000. Interest rates range from 13.95% - 24.95% and are based on your creditworthiness. Loan assessments are completed within one hour. MyFinance will lend to beneficiaries as long as the loan is affordable. For more options you can compare other lenders in the table below, to decide which loan is right for you.

      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.

      Compare up to 4 providers

      Go to site