Debt Consolidation Loans NZ
When five different repayments come out of your account on five different days, payday stops feeling like payday. A debt consolidation loan rolls your cards, store cards, buy-now-pay-later balances and smaller loans into one loan, with one fixed weekly payment you can actually plan around.
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Consolidate Debt, It’s Easy.
You’ll get helpful advice and guidance to consolidate your debt and refinance personal loans so you can regain control of your finances.
We look beyond bad credit ratings
If you’ve got the right attitude and you want consolidation loans while proving you’re a reliable payer, then Crester is here to help.
One fixed interest rate
Consolidate your debts into one loan with a fixed interest rate between 9.95% and 26.98% p.a., depending on your circumstances.
Super fast –
Money in your
account
just 24 hours
Consolidation Calculator
When we consolidate your debt, we work out what you can afford as repayments to determine the term. Our calculator is only a guide, so it’s best to apply and chat to one of our lending team for exact figures. We combine all debts into a single loan & spread the repayments across your repayment term.
Choose your term
Repayment Details
1 YEAR
Your approximate weekly payment
$22.60 PER WEEK* This is an approximate loan duration and amount based on assumed adequate security & collateral, job security, income, residence situation and positive references. This is subject to the New Zealand responsible lending code. Terms and conditions apply.
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Free gift with every successful loan application
How does debt consolidation work in NZ?
Step 1
Apply online in about 6 minutes
List the debts you’d like to roll together and what’s owing on each.
Step 2
A real person reviews it
We look at whether one payment genuinely puts you in a better position, and we’ll say so either way.
Step 3
We settle your debts
Once approved and signed, the loan pays out your existing balances, and you’re down to one repayment.
Getting started takes only 6 minutes, subject to the responsible lending code of New Zealand. Our online application form for loans online is fast & easy.
Will consolidating actually save me money?
Honest answer: it depends, and a lender who promises otherwise isn’t being straight with you.
Consolidating tends to help when the new rate is lower than what your cards and store cards charge, when the fees on the new loan are smaller than the fees you’re currently bleeding across several accounts, and when one payment stops the missed-payment fees that make everything worse.
It can cost you more if you stretch the new loan over a much longer term. A smaller weekly payment for more years can mean more interest in total. When we review your application we look at exactly this, because a consolidation loan that doesn’t improve your position is not a loan we want to write.
What does a debt consolidation loan cost?
Every fee is published on our loan interest rates and fees page, and your contract shows your exact rate, fees and total repayments before you sign. Use the calculator above to see what one weekly payment could look like.
What your loan really costs
No surprises. Here’s the full picture before you apply:
- Interest rate: between 9.95% and 26.98% p.a., personalised to your situation and fixed for the life of your loan.
- Establishment fee: between $135 and $995 depending on your loan size, charged once at the start.
- Administration fee: $10, plus $5 for each additional borrower.
- Repaying early: a $65 administration charge applies, plus any prepayment charge as calculated under the regulations.
Every fee we charge is published on our loan interest rates and fees page, and your loan contract shows your exact rate, fees and total repayments before you sign. For a personalised repayment estimate, use the calculator above.
What debts can I consolidate?
- Credit cards and store cards
- Buy-now-pay-later balances (Afterpay, Laybuy and friends)
- Personal loans and cash loans from other lenders
- Vehicle loans
- Overdue bills that are attracting penalty fees
If you’re not sure whether something can be rolled in, ask. A real person will give you a real answer.
Is debt consolidation right for me?
It’s a genuinely good move when you’re juggling multiple repayments at high rates and a single fixed payment would cost less, stress less, or both.
It’s the wrong move if the spending that built the balances hasn’t changed yet. Consolidating frees up your cards, and refilling them puts you somewhere worse than where you started. Be honest with yourself about that part; we will be.
And if you’re in real hardship right now, free help exists and it’s excellent: MoneyTalks (0800 345 123) connects you with free financial mentors who can help you make a plan, whether or not a loan is ever part of it. We’d rather you rang them than took a loan that doesn’t fix anything.
Why Kiwis choose Crester to consolidate
A person, not an algorithm
Someone reads your application, thinks about your situation, and gives you a straight answer, fast.
Fixed means fixed
Your rate is fixed for the life of the loan, so the payment you plan around doesn’t move.
Every cost on the table
Fees published before you apply, total repayments in your contract before you sign.
Local and long-standing
Christchurch owned, lending NZ wide for over 40 years, with a 4.7-star rating from thousands of Google reviews.
Our Customer Reviews
Rated 4.7 out of 5 stars based on 2044 customer reviews.
Real people, start to finish. Talk to the same friendly team from application to payout. Meet the Crester team
Frequently Asked Questions about Debt Consolidation NZ
Can I get a debt consolidation loan with a less-than-perfect credit history?
Every application is assessed case by case, by a person. Missed payments in your past don’t automatically rule you out. In fact, tidying several debts into one manageable payment is often exactly how people get back on track. We never promise approval, because a responsible answer depends on your actual situation.
Does applying affect my credit score?
Applying for credit involves a credit check, which is recorded on your credit file. That’s true with any NZ lender, and anyone who implies otherwise is glossing over it. One considered application is very different from a scatter of applications everywhere, so it pays to choose where you apply.
How fast does it happen?
The application takes about 6 minutes, we review applications the same day wherever possible, and once your loan is approved and signed, settlement of your debts usually follows within 24 hours.
Can I include my car loan?
Usually, yes. Vehicle loans are one of the most common debts Kiwis roll into a consolidation loan. List it in your application with the payout figure and we’ll take a look.
What if I’m struggling right now and can’t take on any loan?
Then don’t. Talk to MoneyTalks on 0800 345 123 first. It’s free, confidential, and their financial mentors are genuinely good. If a consolidation loan becomes the right tool later, we’ll be here.
How much can I borrow to consolidate?
Crester lends from $800 up to $80,000+, and the right amount is simply the total of the debts worth rolling together, not a dollar more. A person will go through the numbers with you.
APPLY NOW, DECISIONS USUALLY NEXT BUSINESS DAY*
* Decisions are usually made on the next business day after your application. Our online application form takes only six-eight minutes to complete, subject to approval in accordance with the responsible lending code of New Zealand. Start by filling this in, and if you’d like to talk with one of our loan officers, please make a note of it in the application, and we’ll contact you as soon as possible.
Questions? Our lending team can help.
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Karen
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We respond to our customers, almost immediately, but in the meantime, please review our commonly asked questions and information about Crester Credit’s terms and conditions. We’ve included detail about establishment fees, annual interest rates, early settlement options, the responsible lending code of New Zealand, and the online personal finance loans application process. We’re here to help with everything finance related, so please ask if you have any questions at all.
FAQ