Teensy Loans Review

From $400 to $5,000 loans, Teensy provides a fast online process when you need access to extra funds.


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Whether you need a few hundred dollars to get you through until your next payday, or funds to pay for home renovations or a vehicle purchase, Teensy has different loan options to suit.

Cash and payday loans are available for amounts under $1,000 or you can apply for a personal loan with a maximum limit of $5,000.

Teensy’s loan process is managed completely online without the need to go into an office or speak to someone on the phone.

Once you fill in an application form, upload your ID and verified your income, you could have money in your account on the same day if approved.

Compare loans from Teensy

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
Teensy Personal Loan
22.95% - 29.95%
6-24 months
Eligibility: Must be at least 22; in full time employment or receive a full-time benefit; have a minimum income of $500 per week after tax; be a New Zealand citizen or permanent resident.

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Data indicated here is updated regularly
Name Product Min. Loan Amount Max Loan Amount Loan Interest Loan Term Establishment Fee Monthly Administration Fee
Teensy Cash Loan
39.95% p.a.
6-12 months
Eligibility: Must be at least 22; in full time employment or receive a full-time benefit; have a minimum income of $500 per week after tax; be a New Zealand citizen or permanent resident.
Teensy Payday Loan
292% p.a.
6-16 weeks
Eligibility: Must be at least 22; in full time employment or receive a full-time benefit; have a minimum income of $500 per week after tax; be a New Zealand citizen or permanent resident.

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Features and benefits of a Teensy loan

  • No early repayment penalty. If you pay off your Teensy loan before the end of the loan term, you won’t be penalised with early repayment fees.
  • Fast processing. New applications are reviewed within 60 minutes or less during operating hours.
  • 100% online process. Teensy loans are managed 100% online so you don’t need to leave home to apply or sign your contract. The latest software is used to make the process as seamless as possible.
  • Same day payouts. If you sign your loan documents before 4pm, you could have funds in your account on the same day.
  • Flexible repayments. Choose the loan term that suits you based on the conditions of your loan type and set your payment schedule according to when you receive your salary or wages.

Types of loans Teensy offers

  • Payday loans. When you need a little cash boost in between paydays, a Teensy Payday Loan can provide you with $400–$900. This short term loan arrangement is repayable in up to six weeks with interest calculated at 292% p.a.
  • Cash loans. If you are looking to borrow between $1,000 and $1,400, a Teensy Cash Loan may be suitable. This type of loan can be used for unexpected large bills or expenses with up to 52 weeks to pay it back. Interest is calculated at 39.95% p.a.
  • Personal loans. A Teensy Personal Loan can be used when you need to borrow between $1,500 and $5,000. Repayment terms are from 6 months to 2 years and interest rates range between 22.95% - 29.95% per annum. Loans can be unsecured or secured with a home or vehicle. If you do have security, you may be able to borrow more at a lower interest rate.

How to apply for a loan from Teensy

Before applying for a Teensy loan, carefully consider the amount you want to borrow and the associated interest rate and loan term. You should also make sure that you meet the eligibility requirements and have the appropriate documentation.

Teensy will use your income, weekly expenses and credit history to calculate how much you can borrow, and if you are applying for a personal loan, your interest rate.

Eligibility requirements

  • Be at least 22 years of age
  • Be a New Zealand citizen or be a permanent resident (for cash and payday loans)
  • Be in full-time employment or receive a full time benefit
  • Have a minimum income of $500 per week, after tax
  • You can comfortably afford repayments after deducting your living costs from your income.

Anyone that is self-employed or who has their main income coming from IRD or Student Allowance is not eligible for a payday or personal loan.

Information and documentation

When you apply, you will need to provide your personal information and how much you want to borrow. You can upload a copy of your valid photo ID such as a New Zealand Driver’s Licence or passport to verify your identity.

You will also need to verify your income so that Teensy can confirm that you have the ability to pay back your loan. This is done by securely sharing your internet banking so that Teensy can view your accounts.

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