As the name suggests, cash loans are designed to give you a cash boost when you are caught short before your next pay day. It might be because of an unexpected bill, car repairs, a medical or dental expense or something for the family. This type of short-term borrowing is quick and easy to obtain, however, it’s important to remember that the loan must be repaid in full within a relatively short period of time, usually 4-6 weeks.

In NZ there are a number of online finance companies that provide cash loans. Application for a loan typically involves a few simple steps on the company website as well as submission of requested information. Many websites make it super easy by offering online verification of your personal and banking details which saves you the time and hassle of scanning and uploading your documents.

The credit limit for a first-time borrower should be clearly shown on the website as well as a  Loan Calculator to show you what the repayment options are and how much you will end up paying back in total. It pays to shop around on the web to find the company that offers the best terms and conditions. Pay particular attention to the interest rate and fees.

NZ cash loan companies are legally required to be responsible lenders. This means your application will be assessed for affordability, and will be approved only if the company has every reason to believe you will be able to meet the repayments.

 

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