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.
Let's talk loan details
|Loan amounts||From $2,000|
|Repayments||Weekly, fortnightly, monthly|
|Loan terms||1 - 7 years|
|No early repayment fees||Pay your loan off sooner, at no extra charge!|
|Other Information||Loans with a variable interest rate are subject to change throughout the duration of the loan|
Fees & charges
|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!|
|PPSR Registration Fee||$14|
|PPSR Search Fee||$2|
|Other Information||Interest rates depend on your personal circumstances|
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.
How to apply
- Check your interest rate online in 2 minutes without impacting your credit score
- Apply online and receive a response in 60 seconds
- Provide required documents, such as banking statements and identification documents
- Accept your loan contract digitally
- Obtain funds within 24 hours of us receiving your online acceptance
- 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 Debt Consolidation Loan
Application and approval
Fees, charges and interest
^Gem Personal Loan
Gem Personal Loan rates range from:
Variable Loans - 8.99% p.a. to 28.99% p.a. for Secured Loans and 9.99% p.a. to 29.99% p.a. for Unsecured loans. Loans with a variable interest rate are subject to change throughout the duration of the loan.
Fixed Loans - 8.99% p.a. to 28.99% p.a. for Secured Loans and 9.99% p.a. to 29.99% p.a. for Unsecured loans.
Your interest rate depends on your personal circumstances. 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 15.99% p.a. (fixed for the life of the loan) would equate to a total repayment amount of $25,613 approximately (including a $240 establishment fee).