Debt Consolidation Loan
Destress your mind by streamlining your debts into one easy-to-manage payment.
How the debt consolidation
- Let’s work out your debtThis could include multiple credit cards and loans with other providers.
- Let’s applyOur application process is simple, and you can check your interest rate before you apply. Let's get started!
- Let’s handle your payments directlyIf approved, we can get rid of the hassle and do all the hard work for you by:
- Organising the consolidation of your debts
- Paying your nominated credit providers directly
- Start making just one payment for all your debtsGem can do all the organising to consolidate your debts, so you can breathe easier, take a break, and take control. All you need to do is pay down your loan, one easy-to-manage payment at a time. Now that’s better.
Fees & charges
Payment Handling Fee
|$1.50 per payment|
|Late Payment Fee||$35 if you don't make the minimum repayment by your agreed due date|
|Early Repayment Fee||No early repayment fee, so you can pay your loan off sooner at no extra charge!|
|Other Information||Interest rates depend on your personal circumstances and are fixed for the life of the loan|
Why debt consolidation?
One easy-to-manage payment
There’s no need to manage multiple credit card balances or loans from multiple providers. One easy-to-manage payment comes straight out of your account.
You choose your payment schedule, whether it’s weekly, fortnightly or monthly. Plus, you can make extra repayments to pay down your loan faster.
Let’s talk loan details
|Fixed rate||For the life of the loan|
|Loan amounts||From $2,000|
|Repayments||Weekly, fortnightly, or monthly|
|Loan terms||6 months - 7 years|
|No early repayment fees||Pay your loan off sooner, at no extra charge!|
How to apply
- Check your interest rate online in 3 minutes without impacting your credit score
- Check your eligibility and complete your application
- Provide any required documents such as payslips and identification
- Securely accept your loan contract online
- Within 24 hours of your contract acceptance the money should be in your account
- Be 18 years or over
- Be a permanent NZ resident, or hold a work permit/visa allowing you to reside in New Zealand
- Be earning a stable income
Frequently asked questions
About my Gem Personal Loan
Application and approval
Fees, charges and interest
^Gem Personal Loan
Gem Personal Loan rates range from 8.99% to 24.99% fixed p.a. for unsecured personal loans and from 6.99% to 22.99% fixed p.a. for secured personal loans. Your interest rate depends on your personal circumstances. The interest rate and repayment amounts remain fixed for the life of the loan. And if you choose to pay your loan off sooner, we will not charge you an early repayment fee. Credit and lending criteria, and fees apply including a $240 establishment fee. Credit provided by Latitude Financial Services Limited.
Example: An unsecured Gem Personal Loan of $20,000 borrowed for three years with an interest rate of 8.99% p.a. (fixed for the life of the loan) would equate to a total repayment amount of $22,933.80 (including a $240 establishment fee).