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Better® loans review

Don’t waste time trying to find the right loan for your finance needs. Let Better® do the legwork for you.

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Monique Law
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Better believes that better finance deals are a result of being different to other providers. That’s why it doesn’t charge application or early repayment fees and finds customers the sharpest rate possible for a personal loan.

Rather than lending money directly, Better acts as a broker to match Kiwis with the best loan structure to suit their needs. This means evaluating your creditworthiness and financial situation to work out what loan product from one of its trusted lenders will save you the most money and offer the best terms.

Based in Christchurch, Better offers loans to New Zealanders around the country with a two minute online application and digital approval process.

Features and benefits of a loan from Better

  • Loan amount. Borrow from $3,000 to $250,000 for a variety of reasons.
  • Loan term. You can take out a loan for a period between 12 months and 60 months.
  • Interest rate. Interest rates range from 7.95% - 19.95% p.a. The rate you receive is based on your credit history and current financial situation.
  • Leave the legwork to someone else. Rather than spending time researching and comparing loans from different providers, Better finds the right lending structure for your needs.
  • Trusted lenders. Better works with a variety of trusted lenders in New Zealand and can easily match you with the one that will offer the best deal for your finance. Lenders include NZCU South, Marac, Heartland Bank, Avanti Finance, Oxford Finance, Latitude, UDC and Community Financial Services.
  • Fast approval and payout. Better is able to approve loans within two hours and can pay the funds into your account on the same day if your documents are signed before 12pm.
  • Flexible repayments. You decide when you want to make your repayments based on your budget and when you receive your income. You can choose to set up your payment schedule weekly, fortnightly or monthly.
  • Ongoing support. Better is available to answer any questions or concern you have before and after you apply for a loan.
  • Responsible lending. Better is committed to responsible lending and will work with you to ensure that your loan comfortably fits in with your budget.
  • Self employed lending. If you are self employed, you can apply for a loan through Better.

How much does the loan cost?

A Better loan comes with an interest rate of between 7.95% - 19.95% p.a.. The rate that you get is calculated on a number of factors including how much you are borrowing, security, credit history and financials.

There may be additional charges and fees depending on the type of loan and the lender that your loan is sourced through.

How to apply for a loan from Better

To start your application, head to the Better website and click on ‘Apply Now’. First, check that you meet the eligibility requirements and have the right documents on hand.

Eligibility requirements

  • Be at least 18 years of age
  • Be a New Zealand citizen or permanent resident
  • Have a regular income of at least $400 a week

Information and documentation

While completing the online application form you will be required to fill in how much you want to borrow, what you want the loan for, your employment details , income, assets and debt information.

You will also need to supply:

    • A valid photo ID
    • Bank statements for the last three months

Compare alternative personal loans

Data updated regularly
Name Product Interest Rate (p.a.) Min. Loan Amount Max. Loan Amount Loan Term Monthly Service Fee Establishment Fee
The Lending People Personal Loan
100% ONLINE
The Lending People Personal Loan
6.95% - 26.95%
$2,000
$75,000
1 to 7 years
$0 - $10 depending on lender
$50 to $695 depending on lender
Eligibility: Be 18+, an NZ citizen or permanent resident, in employment and earning at least $500 per week.
Secured and unsecured loans of up to $75,000 from a variety of reputable lenders.
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Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan
6.99% - 19.99%
$2,000
$70,000
3 or 5 years
$0
$200-$350 depending on loan size
Eligibility: Be a NZ resident/citizen and have a good credit score.
Apply for an unsecured personal loan up to $70,000 with no early repayment fees.
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The Co-operative Bank Unsecured Personal Loan
FROM 6.99%
The Co-operative Bank Unsecured Personal Loan
6.99% - 19.99%
$3,000
$50,000
6 months to 5 years
$0
$200
Eligibility: Be 18+, an NZ citizen/permanent resident, or have a valid work visa.
Floating-rate, unsecured personal loans from $3,000.
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Lending Crowd Personal Loan
Lending Crowd Personal Loan
5.03% -19.30%
$2,000
$200,000
2, 3 or 5 years
$0
$200 - $1,450 depending on the amount borrowed
Eligibility: Be a 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.
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Nectar Unsecured Personal Loan
Nectar Unsecured Personal Loan
8.95% - 29.95%
$1,000
$25,000
6 months to 4 years
$0
$240
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.
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Save My Bacon Unsecured Flex Loan
Save My Bacon Unsecured Flex Loan
49.95%
$1,000
$5,000
8 - 52 weeks
$4
$50
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 $1,000 to $5,000 with no hidden fees.
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