Personal Loans

Frequently Asked Questions

Here are some of our most commonly asked questions which can help you understand whether a personal loan is right for you.


We are a 100% New Zealand owned finance company, who have approved over 350,000 kiwi's for finance over the last fifty years. For more information, check out the About Us page.
Thorn Finance offer fixed term, variable interest rate secured and unsecured personal loans. Unlike most other finance providers, we offer a decision within 60 seconds of completing an application. Credit assessment and responsible lending criteria and inquiries will apply to all applications. Our loans range between $2,500 and $30,000 with flexible repayment periods between 6 - 60 months.
We lend unsecured and secured loans between $2,500 and $30,000.
This is a loan in which the borrower provides a vehicle as security for the loan. If you are unable to meet your loan repayments we will make every effort to work with you to find a suitable solution. As a last resort, we may need to take the listed security to repay the outstanding loan amount.
This is a loan issued without security. Without security, you will generally need to pay a higher interest rate, which will mean higher regular repayment amounts.

The Application Process

Our application process takes place completely online, and so you will need some things in order to complete the application. You will need a mobile phone number, email address, a valid NZ Drivers License or Passport, and your internet banking login credentials. By completing all of the ID and income checks using our online platform, we will be able to provide you with a decision in 60 seconds, rather than waiting for you to manually scan and send in documents.
Thorn Finance uses an advanced, online technology platform to complete all of the verification checks online. During our application process, we will verify your identity, your contact details, your income and expense data, all in real time. In some cases, we may require you to confirm some details with us and provide additional information so that we can complete the verification checks. If we need to complete manual verification checks, the application process will take longer, and you won't receive your decision within 60 seconds as we need somebody to check over the information.
The application process typically takes less than ten minutes, and is quick and easy. Once you're finished with your application, you'll receive a decision in 60 seconds!
Yes. We use Credit Sense, Australasia's leading bank statement retrieval service. By logging in to your internet banking through the Credit Sense portal in the application form, this will allow us to retrieve an electronic copy of 90 days of your bank statements. Your credentials are encrypted and are not stored by Credit Sense, or Thorn Finance, and it will not give us access or control to your bank accounts.
If you have been conditionally approved, one of our credit team will need to assess your application and give it a final sign off before approval. In order to do this, we may require additional documentation or further explanation about your circumstances. If needed, a member of our credit team will be in touch with you. You will receive your final decision via email, and if you have been given a final approval, you will be able to continue with the approval process.
Once you've been approved for a Thorn Finance loan, we will send you an email with a link to complete the rest of the application process which only takes a couple more minutes. You will be asked to finalize the amount you would like to borrow, select your term, and confirm your regular repayment amounts. After you have submitted that information, you will immediately receive your loan contract in your email inbox which you need to electronically sign within 24 hours. Once you've signed your agreement, we will disperse your loan.
We know how important it is to get you your funds quickly, and so we will be trying our best to make sure your loan gets to you as soon as possible. If you sign your contract before 3pm, you can expect your funds within the same day. If you sign your contract after 3pm, your funds should arrive the following business day.

Rates and Fees

Our interest rates range from 9.95% p.a to 22.95% p.a. variable depending on whether your loan is secured or unsecured.

You can find a full list of our rates and fees on the Rates & Fees page.

There is a monthly administration fee of $3.25 (other payment frequencies available), and an initial application fee of $75 to be paid up front or capitalised over the term of the contract.

There are also other fees based on late payments, refinancing and early repayment.

You can see our full fee schedule on the Rates & Fees page.


As part of your loan application, you will let us know how often you'd like to make repayments (weekly, fortnightly or monthly).

From there, we will be able to calculate your regular repayment amount, based on the amount you would like to borrow, the term you would like to borrow over, and the interest rate you qualify for based on your application.

If you visit our loan calculator page, you can play with our repayment calculator to see what your potential loan might cost, and what the regular repayments would be.

If you miss a payment, you need to make it up before your next scheduled payment, or you will be charged with late fees.

Either way, give our team a call and we can help you out with your situation.

If you are struggling to meet payments, call us and we will see if we can restructure the loan and make your payments more affordable.

If you can’t keep up with your payments due to an unforeseen event that causes hardship, for example illness, injury, loss of employment, or the end of a relationship, you should get in touch with us as soon as possible so that we can discuss your options with you.

If you get in contact via email, a member of our team will be in touch to hear more about your situation and see how we can help.