When it comes to finding the right unsecured loan in NZ there’s quite a few choices out there. But as the saying goes, not all Unsecured Loans are the same - even in NZ! So where do you begin? Right at the start, by understanding (whether in NZ or not) what unsecured loans are all about.
Put simply, unsecured loans mean that the loan in not secured against collateral (such as valuable goods like a car). That means that usually the terms for unsecured loans in NZ are a bit stricter than other types of loans and the interest charged is a bit higher as these unsecured loans are considered riskier.
When it comes to finding the right kind of unsecured loans in NZ, there are a few different features you want to look out for. One of these is what kind of flexibility do these unsecured loans offer in NZ? Things like no early repayment fees on unsecured loans means you can pay off the loan faster. Alternatively, features like ‘redraw’ or ‘top up’ on unsecured loans means you may be able to access a bit more cash if you need it. Of course, when it comes to working out which one of the providers offering Unsecured Loans in NZ is right, you want to make sure that they are upfront with any fees or costs incurred in taking out unsecured loans.
Moola can offer unsecured loans in NZ because the ‘security’ or assurance that you can pay it back is that you are employed in NZ, and we can see that a unsecured loan would be affordable for you to pay back. In fact, Moola offers unsecured loans in NZ of upto $5,000.
With Moola, applying for an unsecured loans in NZ is straightforward. The entire application process is sorted online, and once your application for one of these unsecured loans is received, we then conduct some checks to ensure affordability and that you have regular employment income in order to approve the amount. To apply, head to our homepage and start designing your loan!