Empowering you to pay off debt

It can be quite a juggle when you have multiple debts. With a debt consolidation loan from Lifestyle Money, you can consolidate all your debts into one loan and keep things simple.

Our helpful team is here to talk to you about how a Lifestyle Money debt consolidation loan can work to consolidate your debts into one loan. 

Terms and conditions, eligibility criteria and our responsible lending criteria apply.

Apply now

Debt Consolidation Loan Calculator

Use this calculator to work out the most affordable repayment option for you. Lower weekly payments allow you to spread the cost out over a longer period of time, taking pressure off your weekly budget. Higher weekly payments save you more in the long run as you’ll pay less interest overall.

MINIMUM SECURED DEBT CONSOLIDATED LOAN - $5,000 

Loan type
6 months 6 mths 60 mths
Debt Consolidation Loan
Frequency

Your repayment estimate

$206

direct debit
Estimate includes establishment fee of $55

Interest amount

$312

Total amount borrowed

$5,367

Apply now or call 0800 427 334

Disclaimer: Results are an estimate only and based on the information entered into the calculator by you. Any results provided by this calculator are to be used as a guide only, and do not constitute a quote from Lifestyle Money. Repayment, interest and total borrowed amounts are based on an interest rate of 25.50% per annum and assuming that rate does not change. Limits, rates, fees and repayments may differ on application and are based on your individual assessment, Lifestyle Money’s credit criteria, terms and conditions. Lifestyle Money will not store the information provided in this calculator.

How to apply for your Debt Consolidation Loan

1. Gather application documents

Proof of your identity and income sources, your outgoings, bank statements and contact details. 

More details

2. Apply

Make an appointment for a local customer representative to come to your home. Our friendly team will take you through the application process, view your documentation, and talk to you about interest rates and repayments.

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3. Get paid

We follow responsible lending principles, which means we will only approve your loan if it is right for your budget and circumstances. After responsible lending checks and provided everything is in order with your application, the funds will be available within one working day.

Overview of our rates and fees

Interest rates

14.5%-25.5%

Establishment fee

$50 - $55

Monthly account fee

$0

Early repayment fee

$0

Apply now

Learn more about our rates & fees:

Interest Rates

We will assess your financial situation during the loan application process and allocate an interest rate. Interest rates vary depending on risk, are not fixed and are subject to change. We consider several factors:

  • Credit score
  • The stability of your income
  • The stability of your residence
  • Your previous financial behaviour

Typically, people with higher credit scores demonstrated stability, and a person with good financial behaviour will qualify for a lower interest rate than someone with less stability and/or a history of more concerning financial behaviour.

Loan Application Fees

We charge an establishment fee to set up and process your Loan application.

For a secured loan, the fee is $55, which includes searching and registering a security interest on the Personal Property Securities Register (PPSR).

For a unsecured loan, the fee is $50.

Default Fees

If you are unable to make a payment, please contact us ideally before the payment is missed. 

We charge a $15 default fee each time a payment is missed. This fee will be applied to the balance of your account and added to the overdue balance. 

If we need to send someone to your home, a $65 fee will be charged. 

Financial hardship support

We know that sometimes life events such as illness, unemployment or relationship breakdowns can lead to financial difficulty. There are options for you if you find yourself in this position and we encourage you to speak to us in the first instance to discuss how we can help and support you during this time. In many cases, you can make a financial hardship application.

Find out more

Frequently asked questions

You must be at least 18 years old. You also must be a New Zealand citizen or permanent resident and earning or receiving a regular income.

You’ll need to provide original or certified identity documents. There are three options: 

OPTION ONE:

  • New Zealand Passport; or
  • New Zealand certificate of identity; or
  • New Zealand firearms licence; or
  • Foreign passport (New Zealand residents only)

OPTION TWO:

  • New Zealand Birth Certificate; or
  • Certificate of Citizenship; or
  • Birth Certificate issued by a foreign government

Together with one of the following:

  • New Zealand driver’s license; or
  • HANZ 18+ card; or
  • Kiwi Access Card; or
  • Current international driving permit

OPTION THREE:

  • New Zealand driver’s licence

Together with one of the following:

  • Bank statement addressed to you and dated within the last 12 months; or
  • Any New Zealand Government department statement addressed to you and dated within the last 12 months; or
  • Document issued by Government agency that has name and signature, for example New Zealand SuperGold Card or Community Services Card; or
  • Credit/Debit/EFTPOS card with name embossed

To ensure we comply with our legal requirements as a responsible lender, we will also need you to provide:

  • Up to 3 months current bank statements
  • Proof of income you receive or earn from regular sources
  • Overview of your current expenses

Often, time is of the essence. Once we have all required documentation to process your application and have completed responsible lending checks, we aim to have an answer within 60 minutes.

Provided everything is in order with your application and our responsible lending checks are satisfied, the funds will be available within 24 hours. 

We offer competitive interest rates for Personal Loans.  Your circumstances are unique, so your interest rate will depend on your credit profile, whether your loan is secured or unsecured and other factors as required by the Credit Contracts and Consumer Finance Act 2003 (CCCFA). Interest rates are not fixed and are subject to change.

Yes. If you have previously had credit issues we will still review your application, but will need to get a good understanding of the circumstances that surrounded those issues so we can make a fair assessment of your current situation.

We may require security for your Personal Loan.  This will be discussed with you at the time of your application.

We do offer unsecured loans if you meet our unsecured loan lending criteria.

The Personal Property Securities Register (PPSR) is an electronic register that allows security interests in personal property to be registered and searched in accordance with the New Zealand Personal Property Securities Act 1999.  For more information on the PPSR click here.

Please call us on 0800 427 334, ideally before you miss the payment. You’ll find more information on our financial hardship page.

Yes, and there are no extra charges to do so.

Yes. We only want you to be approved for a Personal Loan if it is the right thing for you and your budget.

Call us on 0800 427 334.  We can change the direct debit payments over the phone. Please note however that this change needs to occur at least one business day prior to your payment date.

Want more info? Get in touch!

We’re here to support Kiwis and their financial wellbeing. If you’re interested in applying for a personal loan in NZ or have questions about our services, just contact us today!

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Important note: The information on this website is of general nature and does not take account of your personal circumstances or goals. It is not regulated financial advice and is not a recommendation that you should take out a Lifestyle Money loan. Please talk to us or seek independent financial advice about your financial needs.

You are protected by responsible lending laws. Because of these protections, the recommendations given to you about Lifestyle Money products are not regulated financial advice.
This means that duties and requirements imposed on people who give financial advice do not apply to these recommendations. This includes a duty to comply with a code of conduct and a requirement to be licensed.