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Fico Finance

Personal Loans

We think dealing with us makes perfect sense. But we'd say that right? If you still need convincing why your next loan should be "banker free" take a look at our list of reasons below, we reckon it makes pretty good reading.

Talk to the decision maker

You will deal directly with the person who is making the decision. Novel idea we know, but an important distinction that differentiates us from bankers. 

24 hour approval

You're talking to the decision maker, that means we can get what we need to know, and then say yes or no pretty quickly. No more waiting for bank bureaucracy.

HQ to You

We are the HQ. This means your are dealing with the top of the Fico food chain at all times.

Loans are our business

We are business people not bankers. No need to feel guilty about asking us for a loan. We only make money if we say yes, so saying yes is what we love doing.

It's not an interrogation, it's an application.

We need to know enough about you to make sure we are lending responsibly. Our questions are to clarify your requirements and your ability to afford the loan. If all this all adds up, you get exactly what you want to hear, a yes.

Interest rates

Fico Finance Personal Loans start from 12.95% - and we reckon that’s a pretty great rate for not having to deal with bankers.

For you to receive a loan and achieve this great rate you must first reach certain lending criteria (all listed below). Individual personal circumstances and overall situations are also taken into consideration during your loan application process (another way we avoid becoming bankers).

NZ resident 18+

Before we start, you must reside in New Zealand for the term of your Fico Loan and all security must be in this country. You must be over 18 years of age (unless someone over 18 guarantees your loan).

How much can you borrow?

Fico Finance don’t lend under $1,000, or over $250,000 on personal loans. If your loans between those 2 amounts then we’re on the same page and you can go onto the next step.

Kinds of loans

A holiday, a vehicle, renovations, space travel, debt consolidation - there are endless reasons for borrowing money from Fico. And let’s be clear, we’re not asking because we’re nosey, we just need to know what your loan’s for so we can have a better understanding of your personal circumstances and your financial situation. So if you don’t mind telling us, we certainly don’t mind lending to you.

Security requirements

Fico Finance recognises security mostly takes the form of vehicles and property, but we will always listen to any other options, just as long as they are reasonable and sensible. Any security used must be insured and all vehicles registered and warranted. But please understand, Fico Finance does not do unsecured personal loans - never, ever, ever. So please don’t bother asking for one.

First mortgage is typically 12.95% to 13.95%

Second mortgage is typically 15.95% to 16.95%

Vehicle loan typically 17.95% to 19.95%

At the end of the day your security will play a major role in what interest rate we can offer you. So, if security’s not a problem, neither's getting a loan from us.

Do you have good credit?

To make a sweeping generalisation Fico Finance usually only gives personal loans to persons with a good credit rating (how smart does that make us sound?) Although, having said that, one of our major differences from usual bankers is that we’re willing to discuss your individual situation and then use our discretion to assist where we can. Still onboard? Good.

Can you afford the loan?

Even though this is a bit of a ‘no brainer’ and goes without saying. Fico Finance is a responsible lender and all our clients must be able to comfortably afford the loan repayments.

Agggghhhh Paperwork

So you’ve made it this far and it all looks good. Just the paperwork to go. Now we know everyone hates it, so we’ve kept it to the bare (and legal) minimum. You just need the 4 pieces of paperwork below and we can approve your loan within 24 hours of our Application meeting.

The 4 essential pieces for Personal Loan approval within 24 hours
  • Completed Fico Finance Loan Application 
  • Last 3 months of Bank Statements
  • Proof of ID and Current Address
  • Evidence of Current Income
*Note: Loans over $50,000 may require a visit. This may make the 24 hour approval impossible, but we will do our best.

Insurance and bank number

  • Proof that Fico Finance has been noted on all insurance policies associated with loan approval.
  • Your bank account number (so we can put the money where you want it).

We've tried to make personal loans at Fico as simple as 1, 2 and then 3.

From understanding what sort of loans we have, to our 'easy to follow' paperwork and application (not an interrogation) process, right through to having your loan funds available within 24 hours. This is how a loan should be - Fast, Easy, and Banker Free.

All repayments of personal loans at Fico are done through Automatic Payment.

This is arranged before you sign the official loan document. Because A.P.'s are regularly scheduled and automatically performed by your bank you have no headaches about trying to remember dates, amounts, or when they're due.

Fico is a responsible lender so we need to be confident you can afford the loan repayments before we approve anything. But we also know the only constant in life is change (and maybe taxes), so when things do change it's best to know what options you have.