No-interest loans
Good Loans are designed to help New Zealanders on limited incomes buy essential items to improve quality of life.
Our Good Loans service
We provide no-interest, fee-free loans for people on low incomes. These help people manage and avoid high-cost debt. Loans can be used for:
- Debt consolidation
- Buying and repairing cars
- Buying or repairing other essential items, eg fridge or computer
- Accessing essential services, eg housing or medical treatments.
The size of the loan depends on the use of the loan. For example, up to $15,000 for debt consolidation, and up to $7,000 to buy a car. We always look for ways to reduce a client’s debt while we assess whether a loan is affordable. We work with other creditors on behalf of the client to negotiate debt reductions, such as lowering the amount owed on high-cost debt. We also help with payment plans and provide some financial coaching related to the loan payments.
Who Good Loans are for
Good Loans are designed to help New Zealanders with limited incomes improve their quality of life.
You may be able to apply for a no interest loan if your yearly income is less than the amounts listed in the table below. This is a guide only.
| Your household | Your yearly income (before tax) is less than: |
|---|---|
| Single | $65,000 |
| Family of two | $83,000 |
| Family of three | $100,000 |
| Family of four | $115,000 |
| Family of five or more | $130,000 |
* These household thresholds are current as of 1 October 2024 and are subject to change.
Enquire now. If you’re not ready for a loan, get in touch with a financial mentor.
How Good Loans work
Ask about a Good Loan
Use the enquiry form to tell us a bit more about your situation and see if a Good Loan is right for you. The form helps us to give you answers as soon as possible, and find the right person to help.
If you’re having trouble with our online form, you can call 0800 466 370 or 09 302 1697. Because a lot of people get in touch, it might take a few days for us to call you back.
Work with a Good Loans Coach to apply for a loan
Our Good Loans team will help figure out the right next steps for you. They might support you to reduce your debts with other organisations, work through your budget, create a payment plan, and put a full loan application together.
Have your application assessed
Your Good Loans Coach will submit your application for assessment. Our specialist lending team will consider your application and make sure your loan payments are manageable.
Get an answer
Your Good Loans coach will come back to you about whether your loan was approved and any special conditions.
Shop for the right car or item
Once you have approval and conditions, you can head off to find the right car or item for you. The item needs to fit your approval conditions. If your loan is for debt consolidation or a specific essential service, eg tenancy bond or medical treatments, you’ve already done this step.
Access the loan, set up your repayments
If your loan is for debt consolidation or a specific essential service, we will pay the supplier directly.
If your loan is for a car or other item, you’ll need to tell us what you’ve chosen. If we’re sure it fits with your loan criteria, we will pay the supplier directly.
This step creates your loan. You’ll need to set up your automatic payments or WINZ redirections as part of this step.
Make payments
You’ll make weekly payments until your loan is repaid. If you’re having trouble making payments, get in touch. We always try to help.
Repay your loan
Once you’ve made your final payment, you’re all done.
Client stories
See some of the ways our services have helped people.
