Mini loan frequently asked questions

Important Mini Loan (short-term loan) considerations

• You should never borrow more than you can comfortably afford to pay back on your scheduled repayment date(s);
• We always conduct a credit check for new applicants – before we make a decision we will always perform our own credit bureau enquiry and assess your credit file. The information held on your file will be used in conjunction with our affordability assessment to ascertain your future creditworthiness and capacity to make your loan repayments. Sometimes in assessing your file and future creditworthiness we will have to say no to your application. In these circumstances you will be contacted and informed as to our decision and the reason for cancellation of your application.

What is the Annual Interest Rate (AIR) for the Mini loan?

The Annual Interest Rate for the Mini loan is 49.95%

What is the minimum / maximum loan term for a Mini loan?

The minimum term for our Mini loan is 6 weeks.

The maximum term for our Mini loan is 8 weeks.

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.

Save My Bacon will keep you updated on the status of your application by email and text, and you can also call our customer happiness specialists on 0800 27 28 36 to discuss the status of your application.

Can I repay my loan early ?

Absolutely. If you repay early and in full you will save on interest and repay the loan faster.

You may request an early repayment at any time without penalty.

Please call the repayment solution specialists 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 understand that sometimes you can struggle financially. But, although it can be tempting to just ignore the situation and hope things will improve for the better, if you feel things might get out of control or if your individual situation has changed, it's time to ask us for help.

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 to you about your options and adjust your repayments.

Our repayment solution specialists are here to help – give them a call on 0800 27 28 36 or send an email to arrears@savemybacon.co.nz. 

Click here for more information on repaying your loan.

Click here for more information on financial hardship.