Personal loans can be a great way to pay for expensive things such as a wedding, home renovations, or travel. You can also use them to refinance and consolidate your debt into a better deal.
Here at Money Compare, you can compare 30+ lenders with no impact on your credit score – backed by the power of AI. When choosing a personal loan, and your lender, making a fully informed choice, by comparing all the options available, side-by-side, is the best day to find the best deal.
How are Interest Rates Determined?
The interest rate is the amount of money you will pay your lender in order to borrow money. A lender will determine the interest rate of your loan based on a few factors. They will look at your income, your credit history, other loans and debt, and determine how much of a risk you pose to them. You are considered a risk if you are deemed less likely to pay your loan repayments on time, and will usually get a higher interest rate. But if you have a good credit score, and consistently pay your bills on time, you will typically get a lower interest rate.
What is the Lowest Interest Rate in NZ?
Remember, every borrower will likely receive a different interest rate based on their credit score and payment history. Also not every lender will work for every borrower. Therefore, it truly is important to compare lenders and loans. Money Compare is your ultimate comparison tool, making it easy and quick to compare different lenders and loans.
Our comparison platform is backed by AI to ensure you are getting the most up-to-date information, so you can make a fully informed decision, and therefore, choose the best deal for you, and your needs. It takes only a few minutes to answer a few questions and we will show you all the personal loans and lenders available to you, based on your answers, so you can easily compare the deals that best match your needs. Don’t just go with the first loan or lender you stumble across. Take just a few extra minutes to compare options, so you can make a fully informed choice, and choose the lender that will give you the best possible interest rate, so you can keep your repayments as low as possible, if you get approved.
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