Instant Finance offers personal loans in New Zealand with flexible interest rates ranging from 9.95% to 29.95% per annum. Kiwis can borrow from as little as $500 up to $50,000, depending on their circumstances and needs. Loan terms range between 3 months and 7 years, promoting manageable repayments for borrowers of all types.

Application fees vary from $100 to $220 based on the loan amount. There’s an administration fee of $3 per instalment and a digital ID verification fee of $7.70. The minimum weekly repayment is $25, so smaller loans remain accessible and easy to manage.

How to apply

• Visit the Instant Finance website
• Fill out their fast online application form
• Submit personal and financial information
• Receive a same-day response in most cases
• Money deposited within 24 hours of approval

Key pros

One standout advantage is the speed: you could get approved and funded in just 24 hours, which is ideal for urgent needs. The broad interest rate range means those with stronger credit profiles can secure competitive rates, while others have borrowing options too.

Nationwide coverage, with both physical branches and a robust online presence, makes Instant Finance very accessible no matter where you are in New Zealand.

Main cons

Interest rates can be quite high, particularly for borrowers with lower credit scores. While starting from 9.95%, the maximum rate is 29.95%, so it pays to check your eligibility and calculate the real cost before committing.

Additional fees such as the establishment and admin charges can add up, especially on larger or longer-term loans.

Final verdict

Instant Finance provides a user-friendly, quick, and versatile solution for Kiwis looking for a personal loan. The wide range of rates and terms fits many situations, but the potential for higher costs means it is best for those who value speed and flexibility over the lowest possible rates.