A lot.

We'd like to think it's a friendlier and much quicker service - you won't wait 6 weeks for your money to be approved (or denied) at Fico Finance. Once we have your completed application form we can approve your loan in minutes and have the money in your bank within 24 hours.

A major difference at Fico is you always deal with the decision maker. This means your loan application and personal circumstances are carefully considered during the application process.

Unlike some others, we won't charge you anything to make a lump sum payment on your loan. Which is great, because the sooner you settle, the less you pay.

Another difference is we keep your paperwork to the bare, legal minimum (and it's all on a form that's easy to follow and fill out). And our final point of difference? We are always here and available to talk to if needed and unlike some others, we will actually listen.

Our Personal Loans are between $2,000 and $50,000. The amount you can borrow depends on the security you have and your ability to repay the loan.

As a Responsible Lender we need to be confident that you can comfortably afford the loan repayments. Even though this sounds like a bit of a ‘no brainer’, you must be able to repay the loan.

Whatever you want.

A holiday, a vehicle, renovations, space travel, debt consolidation - there are endless reasons for borrowing money from Fico.

Let’s be really clear, when we ask questions during your application meeting we’re not asking because we’re nosey, we just need to know what your loan is for and have a better understanding of your personal circumstances and your current financial situation.

So if you don’t mind telling us what you need the loan for, we certainly don’t mind lending to you.

Not necessarily.

That's because we will look at the all the circumstances around why you may have a bad credit rating, and make a final assessment based on your current situation.

Yes.

You do not have to be in paid employment to have a loan approved.

Just like everyone else you will have to meet our credit criteria.

Yes.

This is called debt consolidation and sometimes combining your current debt into a single loan with one contract, one interest rate and one regular repayment is a good idea.

Before you consider this option, ask yourself:
    •    are my existing loans nearly finished?
    •    how much is the establishment fee on the new loan?
    •    what is the interest rate compared to my current one?
    •    will the repayments be less?

If you want more information get in touch and we'll help you check it out.

Yes.

Simple as that. You must be a New Zealand resident and reside here for the entire term of your Fico Loan.

If you are 18 years old and you want to borrow money from Fico Finance then you must have someone who is prepared to act as a guarantor for your loan.

As the name suggests, a guarantor is someone who will guarantee to repay the loan if you are unable to. The guarantor must be either your father or mother, or your brother or sister. They must have a good credit rating, be at least 25 years old and have sought independent legal advice as to whether they should act as your guarantor.
 
If you ask someone to act as a guarantor for your loan, make sure you explain to that person that he/she is equally responsible for the loan and will be called upon to make payments if the loan goes into default.

Download a sample copy of a Fico Finance Personal Loan Contract here by clicking on our  Disclosure Statement

We have a range of loan options.

We believe we have a loan that's suitable for every situation, especially yours. Below are some of our typical loan types;

Standard Personal Loans
This is the traditional loan that most people know and understand. It is the most common form of personal loan and is usually used to finance vehicles, boats, renovations, holidays and other personal items.

The loan is repaid in equal instalments, these instalments include principal and interest and are repaid over an agreed term, of up to 36 months.

Short Term Loans
Usually interest only repayments with principal payment on settlement. This principal repayment is known in the industry as a Balloon Payment. 

Bridging Finance
Similar to a short term loan. Bridging finance is used most commonly to help pay for a property before you have received funds from a sale.

Home Finance
We have several channels of home finance available. These are at competitive rates with various repayment options, eg. interest only, deferred interest, principal and interest.

Investment Property Finance
Similar to Home Finance with a variety of flexible solutions.

This is an overview of our personal loans. If you need more information, have a question, or would like to discuss your requirements in more detail give us a call on 03 548 9932 for a chat.  

They begin at 10.95%.

Our rates do vary. This is because they depend on the security you can offer for your loan and your circumstances.

The one thing we can guarantee at Fico is that we will always try to give you the best possible rate that we can.

Fico Finance recognises that security mostly takes the form of vehicles and property, but we will always listen to any other options, just as long as they are reasonable and sensible.

Any security used must be in this country, insured and all vehicles registered and warranted.

Please understand, Fico Finance do not do unsecured personal loans - never, ever, ever. So please don’t bother asking for one.

As little as possible, and what we do have is easy to read.

Now we know everyone hates paperwork, so we keep it to the bare (and legal) minimum. Download our Application form and you will see just how easy our form is to follow and fill out.

You just need the 4 pieces of paperwork below and we can approve your loan within 24 hours of our Application meeting. The 4 essentials are:
    •    Completed Fico Finance Loan Application (*DOWNLOAD PERSONAL LOAN PDF HERE)
    •    Last 3 months of Bank Statements
    •    Proof of ID and Current Address
    •    Evidence of Current Income

*Note: Personal loans over $50,000 may require a visit. This may make the 24 hour approval impossible, but we will always do our best.

There are 2 other pieces of paperwork we require to see before placing your loan into your bank account. 1) proof that Fico Finance has been noted on all insurance policies that are associated with loan approval and 2) we need your bank account number (so we can put the money where you want it).

No.

At Fico we pride ourselves on being upfront and open with you at all times.

Full details of all fees and the interest rate are clearly set out in the loan agreement we prepare once your loan has been approved. Everything is right in front of you in black and white.

All our fees for personal loans can be viewed on our fees page

Establishment
Covers the cost of processing and approving your finance application. It is scaled on the amount borrowed, securities and administration involved in the process.


Account Maintenance
Covers the administrative cost of keeping your loan active.
$9.36 per month

Security Registration on the Personal Property Security Register (PPSR)
We do not charge this separately, it is included in our Establishment Fee. Mortgages and other real estate related securities are charged at actual cost.

Early Settlement
There is NO charge for paying your loan off early. There is just a $50 administration fee to close your loan file. Please note; there is no interest penalty for you to pay your loan off earlier than the original agreement (as interest is charged on a daily basis only).

Yes, of course you can.

And the great news is there are NO penalty fees involved. There is a small administration charge of $50 that we need to finalise and close your loan file. 

We will advise you of the Terms and Conditions, either by way of a phone call, meeting or a formal "Letter of Offer".

Once accepted by you, and all conditions of the loan offer met we will prepare the loan documents for signing and:
1) arrange a meeting for you to call and sign, or
2) Send them to your lawyer for signing. This is normally the case where complex mortgage security is involved.

Following the execution of the documents the funds will be distributed in accordance with the agreement.

How long would you like?

At Fico you can choose the term of your loan. This can be anywhere from 3 to 36 months (3 years).

The term is usually dictated by your ability to make the repayments. The longer you take to pay, the lower the repayment amount.

This is your choice.

Weekly, fortnightly or monthly, or whatever best matches your income.

If during the loan your circumstances change and you need to alter the frequency, just let us know.

Get in touch.

Give us a call during normal business hours on 03 548 9932 and we can tell you instantly.

Payments are made by Direct Debit.

We have found that these are the easiest ways to repay your loan. Payments are set up from a nominated bank account at the start of your loan term and happen automatically.

Easy as that.