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Low Rate
Personal Loan

For customers who have an excellent credit history^ and are looking to borrow $20,000 or more, secured.


Fixed rate (Secured)

Fees & charges

Establishment Fee$240
NZ Postshop
Payment Handling Fee
Late Payment Fee$35 in the event that you can't make the minimum repayment by your agreed due date
Early Termination FeeNo early repayment fee, so you can pay your loan off sooner at no extra charge!

Better interest rates are just the beginning

Pay it faster and save

You could save on interest by paying off more each month with our 'Pay It Faster' option.

Calculate your repayments

The minimum loan amount for the Low Rate Personal Loan is $20,000.

For how many years?

How often do you want to pay?

Your results



(excluding fees)

Total interest payable


Total loan amount


Loan term

5 years

Fixed rate

9.99% p.a.

Loan details

New secured personal loans from $20,000

Fixed rateFor the life of the loan
Loan amountsFrom $20,000

RepaymentsWeekly, fortnightly or monthly

Loan terms6 months - 7 years

Loan typesSecured

No early repayment feesPay your loan off sooner, at no extra charge!

Pay It Faster

Want to save on your interest? No problem — you can pay extra when you want to get ahead of the game.

How to apply

  1. Check your eligibility and complete your application
  2. Provide required documents such as your payslips and identification documents
  3. Securely accept your contract online
  4. Within 24 hours of your contract acceptance the money will be in your account


You must:
  • Have an excellent credit history^
  • Be 18 years or over
  • Be a permanent NZ resident
  • Be earning a stable income
  • Take out a new loan of $20,000 or more
  • Provide at least $2,000 security*

Frequently asked questions

About my Gem Personal Loan
  • How much can I borrow?

    <span><p><strong>Gem Personal Loan</strong></p><p>The minimum amount you can borrow for a Gem Personal Loan is $2,000, with the maximum depending on your circumstances and current financial situation.</p><p><strong>Low Rate Personal Loan</strong></p><p>The minimum amount you can borrow for a Low Rate Personal Loan is $20,000. </p></span>

  • Can you pay my debts directly to my existing credit card/loan supplier, or would you give me the cash to pay them off?

    Yes, we can pay off the debts directly. In some scenarios, we could also give the money to you to pay off debts.

  • What is a debt consolidation loan?

    Debt consolidation simply means getting one loan to pay off several others. This means you’d only have one easy to manage payment to take care of.<br /><a href='https://www.gemfinance.co.nz/loans/apply' data-trackid='faq-personal-loan-apply-now'>Apply now</a> to take control of your finances, or give us a call on <a href='tel:0800222507'>0800 222 507</a> if you would like to understand more about how debt consolidation can work for you.

  • How long until I receive my funds?

    Once your application has been approved and if you read and accept the contract online before 6:30pm on a business day, we will make the payment that same day. You should see the money in your account the next business day (depending on your terms with your bank).

Application and approval
  • ^How do I know if I have an excellent credit history?

    <span>An excellent credit profile is the sum of the good and bad features known about past behaviour and current circumstances</span><br /><span>To assess if you have an excellent credit profile we look at a range of factors. Generally speaking you:</span><br /><ul><li>Always pay your bills on time</li><li>Have had no defaults</li><li>Have proven your ability to be reliable and consistent with payments for other lending products</li><li>Have not been rejected for credit in the past</li><li>Have relatively few credit facilities open and limited credit applications in the recent past</li><li>Are not a user of multiple balance transfers</li><li>Have a rich credit history (meaning you have had well managed credit products for several years)</li><li>Have been in stable employment for several years</li><li>Are likely to be a home-owner or have a stable residential status (don’t move around a lot)</li></ul><br /><span>Other credit and approval criteria will apply depending on your situation. Final decision on whether you qualify for the Low Rate Personal Loan is entirely at our discretion.</span><br /><span>For more information please find these links to websites describing and even calculating great credit: </span><br /><a href='https://www.moneyhub.co.nz/credit-score-credit-check.html'>https://www.moneyhub.co.nz/credit-score-credit-check.html</a><br /><a href='https://www.calcxml.com/calculators/credit-score-calculator'>https://www.calcxml.com/calculators/credit-score-calculator</a><br /><a href='https://www.privacy.org.nz/the-privacy-act-and-codes/codes-of-practice/credit-reporting-privacy-code/credit-reporting-key-messages-for-consumers/'>https://www.privacy.org.nz/the-privacy-act-and-codes/codes-of-practice/credit-reporting-privacy-code/credit-reporting-key-messages-for-consumers/</a><br /><span><strong>Note:</strong>You can apply with Gem for an obligation free quote and there will be no impact on your credit history</span><br /><span>In most cases you can expect to receive a decision on your loan application within 1-2 working days.</span><br /><span>If it turns out you are not eligible for the Low Rate 9.99% loan, we may offer you a loan at our standard rate range from 12.99% to 24.99% fixed p.a.</span>

  • *What type of security do I need to provide?

    <span>We accept security on any of the following vehicles:</span><br /><ul><li>Motor vehicle</li><li>Caravan, provided the caravan is not the customer’s home.</li><li>Motorcycle</li><li>Boat, with a registered boat trailer.</li><li>Jet-ski, with a registered trailer. So long as they are owned by you, have a current warrant of fitness, are fully insured and worth > $2,000</li></ul><br /><span>We do not accept:</span><br /><ul><li>Security valued at less than $2,000</li><li>Classic or Vintage vehicles</li><li>Vehicles used by the customer to perform their job/employment, e.g. taxi, courier van.</li><li>Commercial vehicles, e.g. large trucks, agricultural machinery, etc.</li></ul>

  • What is a stable income?

    Income that is consistent, and has not varied significantly for at least 12 months. This is to ensure that you are able to meet your obligations.

  • What do I need to include as my liabilities/ total amount borrowed?

    You must show all liabilities you have. This will include any obligations, responsibilities or debt you may have.  Some common examples of these include: <p><ul><li>Credit cards/store cards (total credit limit and current balance owing/amount used)</li><li>Mortgage (total amount borrowed on mortgage including any top ups. Current balance owing and your share of repayments if joint mortgage)</li><li>Car loans and other vehicle loans</li><li>Hire purchases</li><li>Other loans – including being a guarantor</li><li>Overdraft (limit and current balance owing).</li></ul></p>

Fees, charges and interest
  • What if I am not eligible for the low rate loan?

    <span>If it turns out you are not eligible yet for the Low Rate 9.99% p.a. loan, we may offer you a loan at our standard rate range from 12.99% to 24.99% fixed p.a.<span><br /><br /><span><strong>Note:</strong> You can apply with Gem for an obligation free quote and there will be no impact on your credit history. In most cases you can expect to receive a decision on your loan application within 1-2 working days.</span>

Important information

#Low Rate Personal Loans
9.99% fixed p.a for secured loans, minimum loan amount of $20,000 and special qualifying criteria apply, including an excellent credit history. The interest rate and repayment amount remain the same for the life of the loan with no early repayment fee.

Credit, lending criteria & fees including a $240 establishment fee apply.

Example: A Gem Low Rate Personal Loan of $20,000 borrowed for 3 years with a fixed interest rate of 9.99% p.a. would equate to a total amount payable of $23,550.12 (including a $240 establishment fee).

Results from the calculators should be used as an indication only, and they do not represent either a quote or pre-qualification or approval for a loan. The calculator should only be used as a guide to see how loan repayments can vary when you change the loan amount, interest rate and loan term. Fees and charges are payable and the calculators do not take these into account.