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Weekend loans

Need to apply for a loan at the weekend?

Short-term lenders are well-known for providing money when you need it, but there is a cut-off point if you need that cash at the weekend. So, if you find yourself at the end of the week and need a small loan to cover car repairs, emergency home repairs or another unexpected expense, this guide takes you through how to apply and receive the cash you need.

⚠️ Warning: be cautious with short-term loans

If you're experiencing financial hardship and would like to speak to someone for free financial counselling, you can call the MoneyTalks helpline operated by FinCap on 0800 345 123. It is open from 8:00am to 5pm, Monday to Friday and 10am to 2pm Saturday. When comparing short term loans, ensure you take into consideration any fees, charges and rates you may be charged.

Alternatives to short-term loans

Consider these alternatives before applying for a payday loan:

  • Use online Government resources. The Commerce Commission New Zealand website explains how loans works and what to be aware of when borrowing from a lender.
  • Payment plans. Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan or receive an extension on your due date if you’re behind on payments.
  • Contact your creditors. Speak with creditors about extending the due date of your payment, or working out a new payment plan that works for both of you. Seek personal loans elsewhere. Consider a small personal loan from a bank or a credit union. You may qualify for a loan with much lower interest rates than those offered by payday loan companies.
  • Pay with credit card. Consider paying with your credit card to cover your emergency bills or payments. This is not a long term solution, as you’ll need to pay off the balance as soon as possible, but it’s an alternative to a short term loan with high – and immediate – interest rates.

Compare a range of short-term loans

Compare brands using the table below to help fund your weekend plans. If you want to read a review, click “more” or “Go to site” to submit an online application.

Name Product Max Loan Amount Loan Term Turnaround Time Loan Interest Establishment Fee Account Administration Fee
Save My Bacon Mini Loan
$750
1-8 weeks
Same day
49.95% p.a
$95
$10
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.
Short term loans up to $750 with no hidden fees.
Moola Payday Loan
$1,500
Up to 184 days
Same day
292% p.a.
$0
N/A
Eligibility: Be 18 or over, be in employment and be a New Zealand citizen, permanent resident or have a valid working visa.
Borrow up to $1,500 and enjoy a flexible repayment plan.
Save My Bacon Flex Loan
$5,000
8-52 weeks
Same day
49.95% p.a
$95
$10
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 loans from $1,000 to $5,000 with no hidden fees.
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Compare up to 4 providers

When to apply to receive your loan this weekend:

BrandCan you get a weekend loan?Conditions for same-day cashLoan and term amounts
Can’t WaitYesCan’t Wait is open 365 days a year. Opening hours for weekends are 11 am to 4 pm.Loan amounts are from $100 to $1,500, with terms from 1 to 70 days.
Cash ConvertersYesIf you receive approval for the loan by 4:30 pm on a Friday, your funds will arrive in your account on Saturday.Loans are available from $500 to $3,000, with terms of 3 to 12 months
Cash ReliefYesYou can apply online at any time with Cash Relief. The cut off for same day loans is 3:30 pm. If you need funds within 60 minutes, you can pay a $5 express payment fee.The amount you can borrow depends on your specific circumstances but there is a limit of $1,000. Terms are over 2 to 6 weeks or until your next payday.
Save My BaconYesYou need to apply for a loan before 3 pm on a Friday to receive the money on the same day.Loans are available from $300 to $2,000. For a Mini Loan ($300 to $500) terms range from 1 to 6 weeks, and for a Kick Start loan ($1,000 to $2,000) you have 26 weeks to repay the loan.
TeensyYesYou would need to apply on a Friday to receive funds the same day.Loan amounts are available from $400 to $5,000 with terms from 6 to 16 weeks.

How can I apply for a weekend loan?

Receiving the cash before the weekend means submitting a complete application by the cut-off time. Here’s what you need to know to apply:

Eligibility:

The eligibility requirements differ between lenders and you need to confirm these before you apply. Typically, you need to:

  • Be over 18
  • Earn a regular income
  • Be a New Zealand citizen or permanent resident
Documents:
  • ID. You need to provide a form of photo ID, such as your driver’s licence, 18+ card or passport
  • Bank statements. You need to supply 90 days of bank statements. Some lenders require your Internet banking logins to view “read-only” copies
  • Income and employment. You need to list:
    • Whether you’re employed, including your employer’s details or receive Work and Income payments (or both)
    • How much you earn
    • Your pay frequency
  • Loan details. The lender needs to know how much you want to borrow and the duration of the loan.

What should I check before I apply?

There are a few lenders out there who can offer you weekend finance. It’s essential to compare your options before you apply, to ensure you’re getting a good deal. Here are some questions to ask yourself when looking at what’s available:

  • What fees and rates does the lender charge?
    Cost is an important consideration when comparing weekend cash loans. Make sure you check out the lender’s product disclosure statement (PDS), so you know precisely the cost involved.
  • How long do I have to repay the loan?
    The loan term can differ in its terms and the flexibility of the repayment structure. Most repayment dates line up with your pay frequency, whether that is weekly, fortnightly or monthly.
  • How quickly will I receive my loan?
    You should check the lender’s turnaround time before you apply, to make sure you’ll receive the loan when you need it.

How else can you get money by the weekend?

There are other options you can consider if you need cash this weekend:

  • Credit card. If you already have a credit card, the turnaround time for weekend cash is instant. You can use your card to make a purchase or withdraw money using the cash advance feature. Just bear in mind the interest rate the card attracts and make sure you’re not spending above your means.
  • Personal loan. Some banks offer same-day personal loans to existing customers. If your bank doesn’t provide this, another lender may be able to offer you similar terms, although the approval time may take a bit longer.
  • Overdraft. Once an overdraft facility is set up, you can access the money whenever you need directly from your bank account.

Should you get a loan for this weekend?

Before you apply, consider the following:

  • Can you afford the repayments? The application process may be quick for weekend cash, but that doesn’t mean you should ask for more than you can afford. Do your due diligence before you apply and see if the repayments work with your budget.
  • Is the lender reputable? Check the lender has a credit licence listed on its site and that it is easily contactable. It should also have its fees and charges clearly listed.
  • Are you eligible for the loan? Make sure you meet the minimum eligibility criteria before you apply. Submitting multiple applications in a short space of time can damage your credit report and make it harder to receive approval for credit in the future.

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