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Fees and Interest Rates

Loan Direct

Fees and Interest Rates

Your Loan Consultant will help to arrange a loan option for you based on your needs & goals. The rates & fees applicable are based on multiple factors which we will cover below:

Interest rates start from 9.95%, these are set by the loan provider when they approve the application.
It is free to complete an application. A fee to use our service is only applicable when you enter into a loan arranged by us. This fee is up to 5% of the loan amount plus $245, to a maximum of $995 for unsecured loans (GST exclusive). For secured loans the calculation is the same, but the maximum fee is $1995 (GST exclusive)
The fee will be notified to you before you enter into a loan. This fee can be added to the new loan that is being arranged, or paid directly to us before the funds are advanced.

Other websites that can assist you with borrowing money:

If you have any queries with regards to the above, please contact us on 0800 255 155 or email enquiries@loansmart.co.nz.

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Apply in just 2 minutes and have an answer within 1-2 hours*. Once approved funds are deposited into your account the same day*.

*Subject to responsible lending checks and lending criteria.

or call us on 0800 255 155

8:00AM to 5:30PM Weekdays

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*Annual Interest Rates (AIR) range from 9.95% p.a. to 35.50% p.a. with loan terms of 6 months to 84 months. Fees apply.

Example: A loan of $10,000 over 60 months at 12.95% has a Lender Establishment Fee of $215, a Loansmart fee of $745 and a weekly payments of $57.33. The total amount payable is $14,906.36. This equates to an Annual Percentage Rate (APR) of 17.12%

Important Information

1. Loansmart Limited (FSP #7461, trading as Loan Direct) holds a Full Class 2 Financial Advice Provider Licence issued by the Financial Markets Authority to provide financial advice, and is a member of Financial Services Complaints Ltd, our FSCL Number is 617.

2. It is free to complete an application. A fee to use our service is only applicable when you enter into a loan arranged by us.

3. *Rates of 9.95% are subject to lending criteria and eligibility. 1-hour approval and same-day payout subject to the applicant meeting our lending criteria and supplying all the information we need to process their application. We do not offer “short-term” loans, the terms offered by our providers range from 6 months to 84 months.

4. Annual Percentage Rate (APR): Also known as the ‘comparison rate’, the APR is calculated by adding together the AIR plus any additional fees that may apply (like establishment fees charged by providers). New Zealand law does not require APR disclosure, but doing so can better highlight borrowing costs.

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