Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Gem personal loans

Last updated:  

Apply for a Gem personal loan and benefit from a personalised interest rate with terms that range from six months to seven years.

With a Gem personal loan, you can borrow from $2,000 for anything from a home renovation through to a car purchase. You can even take out a loan to pay off existing debts, book a dream holiday or to help with wedding costs.

12.99% - 24.99%

Interest Rate (p.a.)


Minimum Credit Score


Product NameGem Personal Loan
Interest Rate (p.a.)12.99% - 24.99%
Min. Loan Amount$2,000
Loan Term6 months to 7 years
Turnaround TimeSame day transfer
More Info

Types of personal loans from Gem

Whether you are looking for a secured or unsecured personal loan, a loan for debt consolidation or home renovations, Gem has the following options:

  • Unsecured personal loan. Gem offers unsecured loans from $2,000 with interest rates between 12.99% - 24.99%. Gem will set your interest rate according to your credit history, your loan amount and your ability to repay. Most applicants will get a decision the same day.
  • Secured personal loan. As an alternative to an unsecured personal loan, you can get a loan secured by a personal asset. A secured loan may offer better lending terms, and Gem may apply less strict criteria when considering your creditworthiness.
  • Low rate personal loan. Enjoy an interest rate of 9.99% for the life of your loan when you borrow over $20,000. You must have an asset to use as security for this type of loan.
  • Car loan. You can borrow a lump sum of $6,000 or more to buy a new car. Just apply for a personal loan from Gem as usual and specify that you are applying for a loan to buy a car. Your new vehicle must be less than 20 years old and can be used as security against the loan.
  • Debt consolidation. If you are currently repaying a loan or any number of loans at a higher interest rate, Gem may be able to offer you a debt consolidation loan with a lower interest rate, saving you money in the long run.
  • Travel loan. A travel loan can be used to book that dream holiday now and pay the cost off over time.
  • Home renovation loan. With a home renovation loan you can borrow from $2,000 to renovate your bathroom or kitchen, or to do a complete remodel.
  • Wedding loan. If you need some extra funds to help with the costs of your big day, you can take out a Gem personal loan to pay for your wedding dress, venue or catering.

Features of a Gem personal loan

  • Flexible loan terms. Gem offers flexibility in terms the length of your loan. Loans can be as short as 6 months or as long as 7 years.
  • Flexible repayments. You can choose to make weekly, fortnightly and monthly instalments to suit your pay schedule.
  • Choice of secured or unsecured loans. You can borrow from Gem if you have no assets to offer as security, but you may be able to get better loan terms if you can pledge an asset as security for your loan.
  • Tailored interest rates. Gem tailors the interest rate for your loan to your personal circumstances. If you are a low credit risk, you may get a lower rate.
  • Fixed repayments. Your loan agreement features a fixed interest rate, so even if interest rates go up, your regular instalment will stay the same.
  • No early repayment penalty. If you decide to pay your Gem personal loan off sooner, you won’t be penalised with early repayment fees.
  • Mobile App. Gem offers personal loan customers the option to download their Latitude App to keep track of their loan balance.

How much does a Gem personal loan cost?

When you are approved for a Gem personal loan you will be given an interest rate of between 12.99% - 24.99% p.a. If you’re taking out a car loan, rates range from 9.99% to 19.99%.

By making extra lump sum payments or increasing your minimum repayment amount, you can reduce the amount of interest that you need to pay and your loan term. You can use the calculator on the Gem website to find out how much you can save by paying an extra $25, $50 or $100 each month.

An establishment fee of $240 applies to all new loans. Gem charges a late fee of $35 if you can’t make your minimum payment.

What other products does Gem offer?

Gem also offers the following personal financial products:

  • Credit cards. Enjoy an extended interest-free repayment period on select transactions and many other features and benefits with a Gem Visa credit card.
  • Insurance. Gem offers repayment protection insurance that can cover you if you are unable to repay your personal loan due to unexpected events.

How to apply for a Gem personal loan

Though Gem offers a flexible personal loan that is suited to a range of requirements, you should always compare your options before you apply. Once you’re ready to apply for a Gem personal loan, head to the website and click on ‘Apply Now’.

Eligibility requirements

  • Minimum age. You can apply if you are over 18 years in age.
  • Residency. You must be a citizen or permanent resident of New Zealand.
  • Income requirement. Gem does not require a minimum income level, but you must have a stable income.
  • Credit history. A credit record that shows that you reliably repay your debts will increase your chances of successfully applying.

Necessary documents and information

  • ID requirement. Applicants who are new to Gem need to supply a passport, driver’s licence or firearms license.
  • Evidence of income. You will need to provide a bank statement, a payslip or an individual tax return as evidence of your income.
  • Debts and outgoings. The application form requests details of your current debts and your regular expenses.

Compare personal loans

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
The Lending People Personal Loan
6.99% - 26.99%
1 to 7 years
$0 - $10 depending on lender
$50 - $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.
LoanSpot Unsecured Personal Loan
8.95% - 27.95%
12 - 60 months
$0 - $10 depending on lender
$195 - $695 depending on lender
Eligibility: Must be 18+, be an NZ citizen/permanent resident, and have an income of least $400 per week.
Unsecured personal loans from $3,000.
Better® Secured Personal Loan
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.
Max Loans Secured Personal Loan
8.35% - 27.90%
1 - 7 years
$0 to $10 depending on lender
$195 to $1,500 depending on lender
MTF Finance Secured Personal Loan
8.45% - 20.45%
3 - 60 months
Eligibility: Must be 18+, be an NZ citizen, resident or have a work visa, and have a regular source of income.
Secured personal loans from $2,000.
Harmoney Unsecured Personal Loan
6.99% - 24.69%
36 to 60 months
$200-$450 depending on loan size
Eligibility: Be a NZ resident/citizen and have a good credit score.
Apply for an unsecured personal loan up to $50,000 with no early repayment fees.
Pioneer Finance Secured Personal Loan
11.95% - 27.95%
Up to 7 years
$270 - $780 depending on size and security
Eligibility: Be 18+ (may need a guarantor); be a NZ citizen, resident or have a relevant work visa; have a regular source of income
Secured personal loans from $1,000 - $100,000.

Compare up to 4 providers

Go to site