Get a Beneficiary Loan in NZ to Help with Expenses

Yes. Crester offers loans to sole parents receiving WINZ payments. We assess each application individually based on your circumstances, not just your benefit type.

You’ll need some form of security, typically a vehicle you own, a guarantor who can vouch for the loan, or another acceptable asset. Our Christchurch team will work with you to determine what repayment schedule fits your household budget and benefit income.

Depending on credit checks and your collateral, we can often get your loan to you within 24 hours. If it’s an emergency loan you’re needing, please contact us to see how we can help and we can expedite the process for you.

To process your beneficiary loan application, you’ll need to provide:

Proof of benefit income:

• Recent WINZ payment statements (last 2-3 months)

Identification:

• Valid New Zealand driver license or passport
• Proof of address (utility bill, rental agreement, or bank statement)

Security documentation:

• Vehicle ownership papers if using a car as security
• Guarantor’s income proof and identification if using a guarantor
• Documentation for any other assets offered as security

Bank details:

• Recent bank statements showing your transaction history

Our team will guide you through exactly what’s needed during the application process. Missing a document? We’ll help you find an alternative documentation rather than declining your application outright.

Taking a loan with Crester will not impact your WINZ benefit eligibility. For more information, please see our beneficiary loan FAQ. Your benefit payments continue as normal throughout your loan term.

WINZ doesn’t reduce or cancel benefits because you’ve borrowed from a private lender. The loan is a separate arrangement between you and Crester.

However, your loan repayments will reduce your available income each week or fortnight. We factor this into our affordability assessment to ensure you can still cover living expenses after making loan repayments.

If you’re concerned about how loan repayments might affect your budget, we recommend speaking with a budget advisor before applying. They can help you understand the full picture.

Life happens. If your circumstances change during your loan term, contact us immediately.

If your benefit increases or you find employment: You can increase repayments to pay the loan early, potentially reducing total interest paid. Early repayment incurs a $65 administration cost plus any applicable prepayment charges.

If your benefit changes or financial hardship occurs: We’ll work with you to adjust your repayment plan where possible. This might include temporarily reducing payment amounts, extending the loan term, or pausing payments briefly during genuine emergencies.

If you lose your benefit: We understand times can get tough, so contact us straight away. We’d rather discuss the options available in the loan agreement early than have you fall behind on payments. Depending on your security and circumstances, we may be able to restructure the loan.

The key is communication. Ignoring payment difficulties leads to default fees and potential loss of security. Talking to us early opens up solutions.

Unfortunately, we only offer 4000 loans in NZD to those with an asset to use as security. If you don’t have a car, house, or any appliance of value, you can get a guarantor with good credit history to co-sign during the online application process.  

We can’t lend to beneficiaries with a history or pattern of default. However, we may be able to provide debt consolidation to refinance your loan with other companies at a lower interest rate.

Yes, you can apply for a loan and use the proceeds to cover medical expenses and even purchase medication. We offer fast approval in as quick as 60 minutes and in most cases, you’ll have the funds in your account within 24 hours.