You can pay your loan off sooner at no extra charge with loans of Gem

Looking for a personal loan in New Zealand is not difficult because there are more and more lenders offered these loans with a fix interest rate that attract customers’ eyes. One of the best lenders in New Zealand is Gem Finance. This post, we help you get loans of Gem in four steps.

Get quick approval and receive money within 60s with loans of Quickloans

In the previous post, introduces people to some of the necessary information that is useful for getting the loans of Finance Holdings to get more information people can read the article Customers can get loans of Finance Holdings with the rate of 8.95%. Now, let find knowledge about loans offered by Gem in the post today.


Just like a lot of article posts about fast loans in New Zealand, loans of Finance Direct, loans of Avanti Finance, loans of Admiral Finance, loans of My Finance…. this post about the loans offered by Gem also includes some main parts. They are:

1. Some information about Gem

An unsecured loan is an unsecured personal loan. A secured personal loan is a loan protected by an asset, usually your vehicle, used as collateral to receive a loan. This means that if you default to the loan, Gem can recover and sell the property (eg your car) to recover the debt. However, this is the last action Gem can take. At Gem, we will work with you to try to avoid that situation.

To apply for a personal loan from Gem, customers must be:

  • customers must be 18 years or over
  • customers must be a permanent resident of NZ
  • customers must be earning a stable income

Customers also need to know that:

  • The loan amounts start at $2,000
  • The loan terms range from 6 months to 7 years
  • The rate is fixed for the life of the loan
  • Customers can repay weekly, fortnightly or monthly
  • Gem’ll never charge you for making extra payments
  • There’s an establishment fee of $240
  • PostShop payment handling fee – $1.50
  • Late payment fee – $35 in the event that customers can’t make the minimum repayment by their agreed due date
  • No early termination fee

2. Some steps to get loans of Gem Finance

  • Check the eligibility and complete the application
  • Provide some required documents: payslips and identification
  • Securely accept the contract online
  • Within 24 hours of the contract acceptance, the money will be in the account

3. The interest rate and fees of loans of Gem

The minimum amount of customers can borrow for a personal loan of Gem is $2,000. The maximum amount is dependent on customers’ circumstances and the current financial situation.

The interest rates range from 12.99% – 29.99% fixed p.a. depending on the personal circumstances of each customer. The interest rate from 9,99% – 19,99% with the secured loans.
  • Repayments: Weekly, fortnightly or monthly
  • Loan terms: 6 months – 7 years
  • No early repayment fees: Pay your loan off sooner, at no extra charge!
  • Peace of mind: For added peace of mind, our optional Repayment Protection Insurance is available for when you need it most
Establishment Fee  $240
NZ Postshop. Payment Handling Fee $1.50
Late Payment Fee  $35 in the event that you can’t make the minimum repayment by your agreed due date
Early Termination Fee  No early repayment fee, so you can pay your loan off sooner at no extra charge!

Example: A personal loan offered by Gem of $20,000 borrowed for 3 years with a fixed interest rate of 12.99% p.a. would equate to a total amount payable of $24,591.60 (including a $240 establishment fee).

This post is the information on loans offered by Gem. Also if you are looking for information about the loans of Finance Point, please refer to Two types of loans of Finance Point with some different rate from 12.95% link we just provided in the previous article.

Anita (Team Content) – Loans of Gem