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Loans in New Zealand

We're proud to be a safe place for Kiwis to borrow money online. We're here to guide you to solutions that meet your needs, but which never go beyond your means.

Why pay more when, you can grow your credit score?
Choose a brighter lender who:

*Cost = fees plus interest. Moola example is a high-cost consumer credit contract. Save My Bacon, Cash Converters & Seed Cash examples are non-high cost consumer credit contracts. Comparison taken as at 29 September 2020 for a $2,000 loan over 20 weeks from the respective lenders website loan calculators. Assuming no additional fees apply. Different amounts, terms & fees may produce a different result.

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We're proud of the innovative technology we've built around our service but we never want this to get in the way of a simple conversation. With over 10 years experience we understand our customers needs and always put them first. Give us a call when you need a friendly human 0800 27 28 36.
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Borrow today and build a brighter tomorrow. Our partnership with kiwi credit-bureau Equifax means that your repayments can improve your credit score! We'll create an individual, affordable repayment schedule for you and we'll work together to positively improve your score.
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Frequently Asked Questions

What kind of loans does Save My Bacon offer?

Save My Bacon wants to help financially responsible Kiwis get access to funds when they need it most! We are committed to innovation and have lowered the average cost of our products over time. We are always striving to improve our service for customers. Join Team Bacon and follow us as we shape the future of lending in New Zealand. The loan products currently on offer with Save My Bacon are as follows:

Mini loan (short-term loan)

Save My Bacon's Mini loan ranges in term from 1 to 8 weeks and incurs an annual interest rate (AIR) of 49.95%, which equates to a daily interest rate of 0.1368% (see table below for rates).

The applicable rates for Save My Bacon’s Mini loan are as follows:

Loan amount Daily interest rate Monthly interest rate Weekly term range Annual Interest Rate (AIR)
$300 - $750 0.1368% 4.1625% 1 - 8 weeks 49.95%

Please click here for more information on our interest and fees.

Flex loan (medium-term loan)

Save My Bacon's Flex loan ranges in term from 8 to 52 weeks and incurs an annual interest rate (AIR) of 49.95%, which equates to a daily interest rate of 0.1368% (see table below for rates).

The applicable rates for Save My Bacon’s Flex loan are as follows:

Loan amount Daily interest rate Monthly interest rate Weekly term Annual interest rate (AIR)
$1,000 - $5,000 0.1368% 4.1625% 8 - 52 weeks 49.95%

Please click here for more information on our interest and fees.

Can I consolidate my debt with Save My Bacon?

A Save My Bacon Flex loan gives you the chance to get control of your debt! We can consolidate your current high-cost loan(s)* into a single Save My Bacon Flex Loan, at a reduced interest rate and/or lower repayment amount.

Whether consolidating your high-cost loans debt is a good idea depends on both your personal financial situation and on the type of debt consolidation being considered.

How does that work?

We pay off your existing high-cost loan(s) to your lender(s) and advance any additional funds that have been approved into your bank account. We then set up a new repayment schedule for you. Easy!

This will make managing your finances easier, and give you more of your money to enjoy life now!

If you are interested in a debt consolidation loan, please let us know by telling the friendly customer team member processing your loan, or call us FREE on 0800 27 28 36 or email loans@savemybacon.co.nz.

*a consumer loan is deemed to be a high-cost loan if the annual interest rate is over 50%

Does taking out a Save My Bacon loan improve my credit score?

Making your loan repayments on time, leads to a brighter tomorrow through positive credit reporting! SMB has partnered with credit bureau Equifax to ensure customers benefit from paying their loans on time. Making your payments on time will positively impact your credit score, which is a great way to get your score moving in the right direction.

Since September 2017 96%* of repayment history reported by Save My Bacon to Equifax has been positive and should benefit those customers’ credit scores.

Want to know more about what your credit score is and how positive credit reporting works? Check out our article here.

*Comprehensive Credit Reporting (CCR) data for the period September 2017 to June 2020

My loan has been approved. When will I receive my funds?

We know your loan is important to you, so we work hard to get it to you quickly! If your loan is approved on a business day, we will make payment to your bank on the same day.

The exact time that funds will become available to you will depend on your bank, but it should be within a few hours post approval!

We'll keep you updated on the status of your application by email and text, and you can also call our friendly customer team FREE on 0800 27 28 36 to discuss the status of your application.

Click here for more information on our loan application process.

Can I top-up my open KickStart Loan?

As a loyal SMB customer, we would love to help you and top-up your KickStart loan when you need more funds, however new Government regulations introduced on the 1st May 2020 now mean we are unable to offer top-ups to our customers who have an open high-cost SMB loan*.

These new rules also mean you are not able to go to any other high-cost lenders whilst you have an open high-cost loan. You can read more about these rules here. The Total Cost of Credit Cap regulation means the limit left on your loan is not enough for you to top-up and borrow more money, as the amount paid back would be greater than double your initial loan advance.

We are sorry, this is out of our control, we do want to help our customers but we are not allowed to!

Don’t worry! Next time you apply with Save My Bacon you will be able to apply for our NEW Flex Loan – Flex has a lower interest rate and flexible repayment options, that can strengthen your credit score if you keep on track with your repayments. And you can top-up! Yay! Top-ups will still be subject to our normal lending assessment.

Once you have repaid your current Kickstart loan, we will get in touch to let you know when you are able to reapply.

*a consumer loan is deemed to be a high-cost loan if the annual interest rate is over 50%

Can I top-up my Flex loan and borrow more money?

You sure can! We are offering top-ups on our Flex loan.

Basically, a top-up is a new loan, just with a portion of the funds being used to settle your previous loan balance.

You just need to make sure the top-up is enough to clear your existing loan balance AND cover off what you need the new loan for.

The amount you can top-up by is dependent on your individual circumstances! Each top up request for additional funds is subject to a full credit assessment.

What we look at when we assess your top-up loan application:

  • You have a history of making payments on time on your current Flex Loan
  • That the new loan remains affordable and there has been no significant change in your circumstances including changes in income, expenses and other financial commitments
  • The new loan continues to meet your requirements and objectives
  • You have demonstrated good account behaviour reflecting a responsible borrower. This includes (but not limited to):
    1. Reversals to other credit and/or utility providers
    2. Transfers and withdrawals causing reversals
    3. Problem gambling impacting your ability to meet payment obligations
Can I repay my loan early?

You can request an early repayment at any time at no extra cost or penalty!

Please call our repayments team FREE on 0800 27 28 36 before making an extra payment so we can provide you with the exact balance to pay and adjust your repayment schedule if necessary.

Click here for more information on repaying your loan.

What happens if I can't make my repayment?

We want to ensure you have the best borrowing experience possible and we have a number of options available to keep you on track. We encourage you to contact us if you can’t make a payment – we can talk about your options and adjust your repayments!

Our friendly repayments team are here to help – give them a call FREE on 0800 27 28 36 or send an email to repayments@savemybacon.co.nz.

We understand that sometimes you can struggle financially, we are here to help you! Although it can be tempting to just ignore the situation and hope things will improve for the better, missing a payment may hurt your credit score! If you feel things might get out of control or if your individual situation has changed, all you need to do is give us a call and we can help protect your score, and work together to find a repayment solution that is suitable.

Click here for more information on repaying your loan.

Click here for more information on financial hardship.