There are many different types of personal loans online and Kiwibank personal loan is one to consider.
Kiwibank Personal Loans can be used for many purposes, but they also offer help to consolidate debts so that customers only have one loan with one fixed repayment to make.
There are several useful features of the Kiwibank Personal Loan. The loan amount customers can apply for a loan can be from $2, 000 and customers can choose to repay it over a period between 6 months and 7 years. They can also choose whether to make weekly, fortnightly, or monthly repayments.
A typical example of loan repayments could look like is as follows. Applicants could borrow $50, 000 and make monthly repayments of $1, 020 over 7 years at an interest rate of 16.95% p.a. The total amount of interest paid would be $35, 709, and this means that the total they would repay would be $85, 709. There is also a special interest rate of 13.95% p.a. available for Graduate Pack customers. The $240 establishment fee isn’t waived for Graduate Pack customers.
The eligibility criteria for Kiwi Bank Loans includes that applicants must be at least 18 years old, be a New Zealand resident, and have a regular income. Applications can be made online by visiting www.kiwibank.co.nz and filling out an application form. Kiwi bank offers joint and single application opportunities for customers.
One thing to note is that if customers are going to get a personal loan to finance the purchase of a new car then they should consider applying for one of the Kiwibank Car Loans. These are loans that are specifically designed for this purpose and are more likely to suit the circumstance.
To fill out the application form easy applicants will need to have access to certain details such as their driving license information, employment information, and rent or mortgage repayment details. A full list can be found on the website. Kiwi Bank needs evidence of all documents in order to finalize the application.
If applicants prefer they can also apply for a loan over the phone by calling 0800 549 454, or in person by visiting their local branch.