Responsible Lending Information
Frequently Asked Questions
Do lenders have to be honest?
Yes, lenders are required by law to be honest when advertising and selling financial products. The responsible lending code of New Zealand sets out what lenders need to do to make sure they meet their obligations under the Fair Trading Act 1986.
How are borrowers protected by the responsible lending code?
The responsible lending code is designed to protect borrowers by ensuring that lenders take a responsible approach when assessing loan applications. This includes making sure that the borrower can afford the loan repayments, as well as taking into account their other financial commitments.
Do lenders pay the responsible lending code organisation, or is it an independent authority?
The lenders do pay the responsible lending code organisation, but this is to help with the running of the code and not for any favours. The code is there to protect consumers from being given loans they can’t afford and to ensure that when they are given a loan, it is at a fair rate.
Fast, Easy Loans For Kiwis
It’s easy to get a loan for your needs. Follow the loan application process below to apply.
STEP 1
Complete our online loan application form in as little as 6 minutes, we promise!
STEP 2
Your application will be assessed by a human – not a computer. You’ll hear back in as little as 1 hour. We’ll explain the interest rate and repayment schedule, as well as the methods on how you can repay the loan.
STEP 3
If your loan is approved, you’ll get access to the digital loan documents following the NZ responsible lending laws, and the money will be deposited in your account within 24 hours.
Getting started takes only 6 minutes.
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