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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.


Fact checked
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 an online application and digital approval process.

Loans available from Better

Data indicated here is updated regularly
Name Product Interest Rate (p.a.) Min. Loan Amount Max. Loan Amount Loan Term Monthly Service Fee Establishment Fee
Better® Secured Personal Loan
6.95% - 23.95%
12-60 months
$0 - $10 depending on lender
$195 - $695, depending on the lender
Eligibility: Must be 18+, be an NZ citizen/permanent resident, and have an income of least $400 per week.
Secured personal loans from $3,000.

Compare up to 4 providers

Name Product Interest Rate (p.a.) Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee
Better® Secured Vehicle Finance
6.95% - 23.95%
12 - 60 months
$195 - $695 depending on lender
Eligibility: Must be 18+, be an NZ citizen/permanent resident, and have an income of least $400 per week.
Secured vehicle loans from $3,000.

Compare up to 4 providers

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 6.95% - 23.95% 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 three 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/contractor lending. If you are self employed or a contractor, you can apply for a loan through Better.
  • Bad credit applicants welcome. If your credit history is less than ideal, Better might be able help you get the finance you need.

How much does the loan cost?

A Better loan comes with an interest rate of between 6.95% - 23.95% 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.

Better loans have an establishment fee of $195 - $695, depending on the lender. 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

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