The Little Loan Shop Payday Loans
The Little Loan Shop specialises in short term payday loans that can appear in your account within one hour.
The Little Loan Shop is an Auckland-based lender offering short term loans up to $600. You will get a same-day decision on applications made during business hours and can receive your loan in as little as 60 minutes.
The Little Loan Shop pride themselves on being a responsible lender with no hidden costs or fees. Read on to find out if you are eligible for a short-term loan with The Little Loan Shop.
Types of loans from The Little Loan Shop
The Little Loan Shop offers short term payday loans from $100 to $600 for up to 42 days, at an interest rate of 0.5479% per day.
For an additional fee of $5, your loan can be deposited in your bank account within 60 minutes on weekdays during the business hours of 9am–4pm. Otherwise, the loan will be deposited into your bank account within the same business day.
Short-term loans from the Little Loan Shop are not a long-term financial solution. Late or missed payments will accrue additional fees and may affect your credit score.
Why should you consider taking out a The Little Loan Shop short term loan?
Applying for a loan with The Little Loan Shop is quick and easy. Features include:
- 60 minute deposit – For an additional fee of $5 you can have your loan deposited into your account within an hour. Keep in mind that bank processing times may vary.
- Loan calculator – The Little Loan Shop has an online loan calculator so you can find out your repayment options and determine if a loan is affordable for you.
- Auckland office – If you live in Auckland, you can drop in to The Little Loan Shop’s office on the North Shore to submit your application. If you’re not in Auckland, you can apply online from anywhere in New Zealand.
- Responsible lender – The Little Loan Shop claims they will not loan you more than they believe you can afford to pay back without financial hardship.
How much will it cost you to borrow from The Little Loan Shop?
An establishment fee of $86 (May be discounted to $40 for loans under $400) applies to every loan from The Little Loan Shop. Loan interest rates are fixed at 0.5479% per day, or 200% p.a. An additional fee of $5 applies if you want your loan deposited into your account within 60 minutes.
The following additional fees may apply:
- Dishonour payment fee –$10
- Ezidebit dishonor Fee – $14.95
- Contact fee – $10 per attempt
Are The Little Loan Shop loans safe?
The Little Loan Shop is a New Zealand Registered Financial Service Provider. The lender displays all fees and rates on their website and claim to have no hidden fees or costs. All interests and costs related to your loan will be stated clearly in your loan contract.
How to apply for a short term loan from The Little Loan Shop
Click on “Go to Site” to start your application. Applying involves the following steps:
- Use the loan calculator to determine how affordable a loan is for you.
- Apply online and provide photo ID and bank account information.
- Wait 60 minutes for application to be assessed (during business hours).
- Receive approval via email.
- Deposit will be sent to your bank account.
- Repayments will be taken from your bank account via direct debit on your payday.
To be eligible for a short-term loan from The Little Loan Shop you must:
- Be 18 years or over.
- Make at least $450 per week total after tax.
- Of your total income, make at least $400 per week from non-government sources.
- Have your pay deposited into your bank account on a regular basis.
- Have access to the Internet, email and a mobile phone.