Top FAQS

How do I get my loan?

The best way is to jump onto our Alternate Finance website and hit the “apply now” button. You’ll also see we have
a calculator that shows you how much the repayments are for the amount you borrow.

Can personal loans be prepaid?

Yes, you can repay your personal loan at any time although there are early settlement fees of $110 + 6 weeks interest.

Do you offer any other type of loans?

We sure do. We offer personal loans, holiday loans, emergency loans, car loans, loans for beneficiaries and plenty more. You can apply online easily and have an answer within 24 hours.

Can you get a personal loan for non-residents of New Zealand?

Unfortunately, Alternate Finance doesn’t provide personal loans to non-residents.

What are the weekly repayments?

The best way to find out your repayments is by using our online calculator here. Once you know the amount of $$$ you want, you can easily hit the “apply now” button to start the process. We loan up to $15000 and this can be approved in just 24 hours.

Do you give loans for beneficiaries?

Yes, we do provide WINZ loans or personal loans for beneficiaries. You’ll need to provide proof of income, with a statement showing your payment from WINZ so we know you can pay off what you borrow.

How long does it take to get a personal loan?

Alternate Finance provides fast personal loans. The application process will take around 8-10 minutes and then once submitted, you’ll have an answer on your personal loan application within just 24 hours.

Can I get a personal loan without a salary?

If you’re not employed but you can show that you have enough means to afford the weekly loan repayments, as well as providing security, then yes, we can lend you a personal loan.

Do I need security for my personal loan?

Yes, so if you have household furniture, a vehicle or similar that’s perfect 🙂 Just add anything you have in the online application when applying.

Are bad credit loans legit?

Yes, bad credit loans are real and yes, Alternate Finance does help people with bad credit, assuming you can provide suitable security.

What if I have bad credit? Can I get a bad credit loan?

We look beyond your credit rating – we prefer to look at the security you have rather than your income. Basically we look at each application on a case by case basis. Best to apply online and one of our staff members will be in touch with you.

What if I don’t have security for my personal loan?

If you need a loan because you’re buying a vehicle or something of value then sometimes that can be used as security. It’s best that you apply using our online application form and state the vehicle that you want to buy. We may be able to use the vehicle or item as security on your loan.

What is debt consolidation?

Debt consolidation is a form of debt refinancing which means you would take out one loan to pay off all of you other loans to simplify your finances and to try and achieve a low interest rate. The term debt consolidation loan is usually used when referring to personal loans, as opposed to other types of loans.

What are your interest rates?

Alternate Finance provides personal loans at an interest rate from 13.95% to 26.98% per annum.
The rate that applies to your loan will be based on a range of factors including your circumstances, credit history with us or others, the security you can provide and the loan amount. Once set, our interest rate is fixed for the term of your loan.

Personal loan vs. a credit card?

Credit Cards usually have interest rates at approximately 20.95% in New Zealand, while personal loans from Alternate finance are between 13.95% to 26.98% per annum depending on your circumstance. The problem with credit cards is that they are tempting, whereas a personal loan is one-lump sum that you can’t keep adding debt to without going through another application process. It’s great self-control.

Can a personal loan be deducted for income tax?

Is a personal loan tax deductible? Neither the loan or your loan payments are tax-deductible. Other loans allow certain tax deductions, such as business loans, bridging finance, etc. but personal loans are not deductible.

Where are you located?

Alternate Finance is located in Christchurch but we lend to people across the entirety of New Zealand. We offer personal loans for just about anything. Holiday loans, emergency loans, car loans & beneficiary loans.

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