Moola Payday Loan Review

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You can borrow up to $5,000 with Moola Payday Loan and have the cash in your account in just 60 minutes.

From 149.65% p.a.

Loan Interest


Maximum Loan Amount


Minimum Income


Product NameMoola Payday Loan
Loan InterestFrom 149.65% p.a.
Maximum Loan Amount$5,000
Loan TermUp to 368 days
Turnaround TimeWithin the same day
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Moola is an online New Zealand lender offering loans ranging from $100 to $5,000 for a period of 2 to 368 days, helping you cover unexpected expenses from emergency bills to car repairs.

You can apply for a Moola online loan in just five minutes and borrow up to $5,000. Moola will allow you to borrow up to 48% of your income, provided you fit their basic eligibility criteria. Read on to find out if you can qualify for a Moola Payday Loan.

Types of loans from Moola

Moola offers three different loan types: short term, midterm and long term. For all loans, Moola will only allow you to borrow up to 48% of your net pay during the loan term.

Short term

  • $100 to $1,000
  • Term of 2 – 44 days, or up to 6 weeks
  • 1.7% daily interest rate
  • First-time borrowers can only borrow up to $500

Mid term

  • $1025 to $3000
  • Term of 62 – 184 days, or up to 26 weeks
  • 0.9% daily interest rate

Long term

  • $3050 to $5000
  • Term of 240 – 368 days, or up to 52 weeks
  • 0.41% daily interest rate

Why should you consider taking out a Moola Payday Loan?

If you need cash before your next payday you should consider a short term payday loan. Loans from Moola range from $100 to $5,000, covering you for a wide variety of unforeseen expenses. Keep in mind, short term loans should not be used as a long-term financial solution.

Moola loans offer the following features:

  • Flexible loan terms. You can take out a Moola loan for between two days and 52 weeks depending on the loan amount. This allows you to tailor your loan to your specific needs.
  • One-hour cash transfer. Moola guarantees transfer of your loan proceeds to your bank account within 60 minutes of loan approval for no additional fee. Keep in mind, you can apply online 24/7 but loans will only be approved during business hours.
  • 24-hour default fee. If you miss a payment for whatever reason but are able to make the payment within 24 hours, Moola will not charge you a default fee. The lender encourages you to get in touch with them as soon as you are experiencing difficulty with repayments so they can help you find the best solution.

How much will it cost you to borrow from Moola?

All Moola loans come with an establishment fee of $21.23 and short term loans have a daily interest rate of 1.7%. Midterm and long term loans have lower interest rates depending on the amount you wish to borrow and the term of your loan.

Additional fees may include the following:

  • Direct debit fee – $1.92 per payment
  • Direct debit cancellation fee – $20.00
  • Default fee – $20.08
  • Debit card fee – $1.92
  • Loan extension fee – $11.12
  • Wage deduction fee – $29.78

Are Moola loans safe?

Moola is a New Zealand Registered Financial Service Provider and governed by the Credit Contracts and Consumers Finance Act. The provider belongs to the dispute resolution scheme Financial Service Complaints Limited. You can contact Moola during business hours at 0800 003 011.

How to apply for a short term loan from Moola

Click “Go to Site” to start your application.

Applying involves the following steps:

  1. Use the “design your loan” tool on the Moola website to determine the total cost of your desired loan.
  2. Fill out the online application with bank account information, email address and cell phone number.
  3. Sign the loan documents online.
  4. Wait for Moola to verify your employment details and application information.
  5. Once your application is accepted, funds will be transferred within 60 minutes.

To qualify for a Moola short term loan you must:

  • Be over 18.
  • Be a New Zealand resident or citizen.
  • Not have declared bankruptcy.
  • Have ongoing employment.
  • Have your wages regularly deposited into your bank account.
  • Have access to email and a cell phone.
  • Pass the required Moola employer check.

Frequently asked questions

NZ Fintech Limited is registered with the Registrar of Financial Service Providers. Their registration number is FSP211325.

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