Rapid Loans – Loan Review
Amount, $1 000 - $10 000 ;Term, 6 - 48 months
Applying does not commit you to any agreement.
Rapid Loans
Rapid Loans is a New Zealand lender offering personal loans from $1,000 to $10,000 with terms from 6 to 48 months. They specialise in fast approval and consider applicants with less-than-perfect credit histories. Rates start from 15.95% p.a. Applications are completed online with decisions typically within the same business day.
Rapid Loans takes a personal approach, assessing each application individually rather than relying solely on credit scores. They consider your current income and ability to repay.
Funds are transferred directly to your bank account once approved. An establishment fee and interest on the outstanding balance apply.
Rapid Loans repayment example
Indicative repayment scenarios. Always confirm the exact cost of credit on the lender's website before you apply.
| Amount | Fee | Total payment | Term |
|---|---|---|---|
| $7 500 | $2 078.39 | $9 578.39 | 12 months |
How to apply for Rapid Loans
- Fill out an online application
- Wait for approval
- Receive your funds
Rapid Loans eligibility requirements
- You must be over 18
- You must be a New Zealand citizen, resident or hold a current working VISA
About Rapid Loans
Rapid Loans is operated by Rapid Loans NZ Limited.. Registered location: Level 26, Servcorp - PwC Tower, PwC Tower 188 Quay Street, Auckland 1010, New Zealand. New Zealand lenders are expected to operate under the Credit Contracts and Consumer Finance Act (CCCFA) responsible-lending rules — always read the full loan terms before signing.
✓ Pros
- Considers applicants with imperfect credit
- Fast same-day decisions
- 100% online application
- Flexible amounts $1,000-$10,000
✗ Cons
- Rates may be higher for higher-risk borrowers
- Establishment fee applies
- Smaller maximum than banks
Loan Example
Example: $3,000 over 18 months at 15.95% p.a. = approx. $190/month.
Loan Requirements
- ✓ NZ citizen or permanent resident
- ✓ 18 years or older
- ✓ Regular income
- ✓ NZ bank account
- ✓ Valid ID
Loan Features
- Online loans up to $10 000
- Term 6 - 48 months
Frequently Asked Questions
6 - 48 months after submitting your application.
The minimum amount at Rapid Loans is $1,000.
Yes, Rapid Loans offers an online application process. Visit their website to apply.