Updated March 2026 · Independent comparison

NZ personal loans compared.

Compare interest rates and fees on personal loans from NZ’s major banks and lenders. Use our calculator to work out exactly what a loan will cost you.

Important: Personal loan interest rates in NZ typically range from 9% to 26% p.a. Before taking a personal loan, consider whether you could use a 0% balance transfer credit card, redraw from your mortgage, or save up instead. Always borrow only what you can comfortably repay.
Lowest rate
Co-operative Bank
Among the lowest personal loan rates in NZ for good credit customers
Best major bank
Kiwibank
Competitive rates from NZ’s government-owned bank
Fastest approval
Harmoney
Online lender with fast decisions and competitive rates for good credit
ANZ
ANZ Personal Loan
ANZ Bank · NZ’s largest bank
Major bankSecured & unsecured
Interest rate
~13.90% p.a.
Loan amounts
$3k–$50k
Loan term
1–7 years
Establishment fee
~$150
Early repayment
Allowed
Decision time
Same day
Pros
Reputable major NZ bank
Flexible loan terms up to 7 years
Same day decisions for existing customers
Can repay early without penalty
Cons
Rate not always competitive vs specialist lenders
Establishment fee adds to cost
Rate depends heavily on credit score
“Reliable option for existing ANZ customers. Rates are competitive for a major bank but specialist lenders may offer better rates for good credit customers.”
Apply now ↗
KB
Kiwibank Personal Loan
Kiwibank · NZ government-owned
NZ-ownedCompetitive rates
Interest rate
~12.95% p.a.
Loan amounts
$2k–$100k
Loan term
6 months–7 years
Establishment fee
~$100–150
Early repayment
Allowed
NZ-owned
Yes
Pros
Among the best rates from a major NZ bank
NZ government-owned — local support
Flexible amounts up to $100k
Short terms from 6 months available
Cons
Fewer branches than ANZ, ASB, BNZ
Rate varies by credit profile
Establishment fee applies
“Best personal loan from a major NZ bank. Competitive rate and NZ-owned is a bonus for those who prefer to keep their banking local.”
Apply now ↗
HM
Harmoney
Harmoney · Online lender
Fast online approvalRate varies by credit
Interest rate
6.99–24.69% p.a.
Loan amounts
$2k–$70k
Loan term
3–7 years
Establishment fee
$200–$450
Decision time
Minutes online
Early repayment
Free
Pros
Lowest rates start at 6.99% p.a. for excellent credit
Fast online decision — minutes not days
No early repayment fees
Fully online — no branch visit needed
Cons
Best rates only for excellent credit scores
Establishment fee is higher than banks
Not a traditional NZ bank
“Best for good credit customers who want a fast decision online. If your credit score is strong, Harmoney can offer rates below what most banks will give you.”
Apply now ↗
CB
Co-operative Bank
The Co-operative Bank · Customer-owned
Customer-ownedLow rates
Interest rate
~12.95% p.a.
Loan amounts
$3k–$50k
Loan term
1–5 years
Establishment fee
Low
Profit sharing
Yes — customer-owned
Early repayment
Allowed
Pros
Customer-owned — profits returned to members
Competitive rates
Ethical banking focus
Good customer service reputation
Cons
Fewer branches — mainly Wellington focused
Less well-known than major banks
May require existing membership
“Worth considering if you want to bank ethically. Customer-owned model means profits go back to members, and rates are among the most competitive from a traditional lender.”
Apply now ↗

Personal loan repayment calculator

See your estimated monthly repayments and total cost before you apply.

Monthly repayment
$342
On $10,000 at 13.90% over 3 years
Loan amount$10,000
Total repaid$12,312
Total interest$2,312

Not financial advice. Personal loan rates vary significantly based on your credit profile. Rates shown are indicative only — your actual rate will be determined by the lender based on your individual circumstances. Always read the loan agreement carefully before signing. Last updated March 2026.