Little Loans, No Surprises

Save My Bacon is an online lender dedicated to providing fair and clear short-term cash loans. We've lent money to thousands of Kiwis over the years. Helping out where we can with a little extra cash and manageable repayments plans spread over a few weeks. We make short term lending easy!


Agree that our T's & C's are easy to understand

Question Asked:

Was there anything unclear in the loan terms and conditions or did anything happen downstream that wasn't clear or obvious when you first took out the loan?

"At last a quick loan company that does what it says it will - crazy quick turnaround, no fuss, money in the bank within the hour - everytime. And great to deal with. Honestly, it's as was as they say it is."

Andrew | Christchurch

"I have always found the service to be excellent with SMB. They are prompt and professional, and once you’ve signed up the first time it is very very easy. If you are looking for a short-term loan I would recommend SMB every time!"

Vanessa | Christchurch

"Thanks guys for the quick and easy, hassle free cash top up. No stress, no waiting. Just the best service you could expect. Again thanks to the team at SMB."

Ranga | Wellington

"Thank you SMB. What an awesome service you provide. It is so easy and fast. Money in your bank in an hour and having to fax no paperwork is great."

Janice | Auckland

Why Save My Bacon short term loans?

Save My Bacon is an online lender dedicated to providing fair and clear short-term cash loans throughout New Zealand. We offer fast loans and same day loans in a responsible and transparent manner. If you're in permanent employment and earning over $400 (after tax) per week you will pre-qualify for a short-term cash loan. If your application is pre-approved, Save My Bacon will then make its own enquiries to verify your application details and financial situation. Bad credit could influence whether you qualify for a Save My Bacon Payday Loan - but it certainly won't rule you out as bad credit personal loans are offered to those who can demonstrate the capacity to meet their loan repayments. Our fresh approach provides an exceptional customer experience. We are ethical payday loan providers.

Why are SaveMyBacon loans different?

Save My Bacon is very different to other short-term cash loan lenders offering payday advances, payday loans and cash advances. Why?

We're committed to responsible lending at each step of our payday loan process. Our safeguards show our commitment to offering short-term loans appropriately. Save My Bacons focus on industry best practice provides you with a high level of disclosure and an equally high level of transparency through its Website and throughout the payday loan process.

Why a quick cash loan?

Save My Bacon can provide same day instant cash loans to quickly meet your short-term money needs when an unexpected or urgent expense crops up. Use it how you like - an outstanding bill or the car breaking down, unexpected heat pump breakdown or dental costs.

A Save My Bacon Quick Cash Loan provides you with a solution to your short-term and urgent cash flow challenges in a responsible and upfront manner! Little Loans, No Surprises.

Some more information on SaveMyBacon short term loans is a registered Financial Service Provider with NZ Govt. Reg No. FSP41567

  1. Credit Contracts and Consumer Finance Act 2003 (CCCFA)
  2. The Loan Agreement will be governed by the CCCFA
  3. Dispute resolution scheme: FDR

SMB provides small, short-term loans / payday loans in the New Zealand market. SMB offers loans of up to $1000 for 42 days to permanently employed persons that have a take-home pay in excess of $400 per week.

SMB uses a positive income test/affordability ratio which we believe provides an appropriately structured credit product to customers with varying levels of income (after tax) with a minimum income level set at $400 net pay per week.

The maximum amount a customer can borrow varies depending on their net income, but in no event can a customer borrow more than 25% of their net pay per pay period. Save My Bacon operates a policy of Responsible Lending and abides by a Code of Practice. Please view the Save My Bacon Code of Practice page for more information. SMB is committed to improving your experience in the short-term lending market and establishing new levels of best practice standards for ethical and operational behaviours.

Our interest rate is 547.50% for most customers when expressed as an Annual Percentage Rate. Our loans are normally contracted to be for no more than 42 days, so interest is charged at a daily rate of 1.5% per day on the unpaid balance (including fees and capitalised interest) at the end of that day. Interest is added to your account daily and forms part of the unpaid balance of the loan.

We do not charge default interest.

Fees: Fees which we charge you and that form part of the initial unpaid balance of your loan:

  1. $25 - Loan Establishment fee
  2. $5 - Direct Debit fee is charged each time we take your payments from your bank account pursuant to a direct debit authority.

Other Fees that might be charged:

  1. $30 - for each loan extension granted (max. of two for weekly customers, one for fortnightly, not available for monthly borrowers.)

Collection practices
If you are experiencing financial difficulties and cannot pay on the due date we can help you and will consider your circumstances both sympathetically and positively.

We can help if you are in default under your contract. However, if we have exhausted all our attempts to come to a suitable arrangement with you and you do not demonstrate a willingness to work with us to put the situation right, we may be compelled to take additional steps in recovering the debt which may include:

  1. Referring your credit file onto a Debt Collection agency for recovery – you will then be charged all collection costs from our 3rd party collection agent including site visits and agent collection costs,
  2. Charging you all legal costs incurred in the recovery of the outstanding debt.

Implications of Late- / Non-Payment
We do not charge default interest. However, there is a $60 missed payment fee plus additional daily interest costs. If your original Loan Term is less than or equal to 31 days Interest will continue to accrue on your balance for up to 45 days if we can reach an arrangement satisfactory for the repayment of the unpaid balance; or up to 60 days if we cannot reach an agreement. If your original Loan Term is greater than 31 days Interest will continue to accrue on your balance for up to 90 days if we can reach an arrangement satisfactory for the repayment of the unpaid balance; or up to 120 days if we cannot reach an agreement.

Alternatively, you can contact us to reschedule your loan, which will incur a $30 rescheduling fee. For more information, please refer to our Charges and FAQs pages.

Credit Score implications
When/where credit scoring is used in NZ a repaid loan will most often positively influence your credit score. However when a missed payment, failed payment or unpaid loan occurs this is likely to negatively impact on your credit score.

Renewal Policy
You can apply for an extension to your loan at a cost of $30 per extension (max. of two for weekly customers, one for fortnightly, not available for monthly borrowers.). While Save My Bacon does offer extensions, we do not do loan roll overs or loan refinancing, so there are no renewal or refinancing fees. We are committed to providing a hassle free solution to your short-term cash needs.

You can reapply immediately after your final payment has been reconciled on your account, usually around 8am the following morning. However, your payment takes two business days to clear.

Once you reapply, we just need to reconfirm your details and employment.

To help ensure you are a responsible borrower, a Save My Bacon Loan should only be used to meet short-term cash needs.