Interest Rates – Secured Lending
The annual interest rate applicable to our loans is 14.95% to 23.95%. The interest rate is based on the profile of the borrower(s) and the collateral offered for the loan. Interest is calculated and accrued on the daily unpaid balance and posted on to the loan on the last day of the month.
|Individual New Loan Establishment Fees|
|$0 – $399||$125|
|$400 – $499||$150|
|$500 – $599||$165|
|$600 – $799||$195|
|$800 – $999||$230|
|$1,000 – $1,499||$275|
|$1,500 – $1,999||$295|
|$2,000 – $2,999||$325|
|$3,000 – $4,999||$350|
|$5,000 – $9,999||$450|
|$10,000 – $19,999||$495|
|Businesses New Loan Establishment Fees|
Other Fees and Charges
Account Administrative Fee – An account administration fee of $2.80 per week or $12 per month also applies for all active loans. This cost is included in total cost on the credit contract.
Changes to the Loan Contract
Security Variation Fee – A security variation fee up to $150 to change the collateral on an existing loan. e.g. car.
Loan withdrawal/variation Fee – up to $95 to $250 per additional advance made to you dependent on the size of the advance and the number of borrowers and the collateral types.
Refund Fee – to refund an over payment is up to $50.
Statement Fee – $10 per additional statement (no charge for regular statements).
Early Settlement Fees
Refer to your loan contract. An early settlement fee of $40 may apply to your loan if you wish to pay it off. New loans from 1 July 2017 will not be charged an early settlement fee.
Collateral Inspection and Mortgage Fees (if property used as collateral)
Mortgage fee – $490 to register a mortgage or caveat. This includes discharging the mortgage at the end of the loan. The fee to discharge or register a mortgage or caveat as a one off transaction is $250.
Mortgage Refinance Fee – $75 if we already hold a mortgage or caveat and you wish to refinance.
Inspection Fees and Home Sign up – If an agent is needed to inspect the collateral or you have opted for an agent to visit in order to sign your loan agreement $50-$95 or the actual cost if a third party performs the service.
There is no credit fee associated with a standard loan agreement.
Default Fees – Default fees are generally 10% points higher than your annual borrowing rate for any outstanding unpaid amount. There is also a daily default fee of $2.00 for every day you are in arrears. Generally there is a grace period of 2 to 5 business days before default fees commence but if the arrears are not paid within the grace period then the fees are backdated to the first day of default.
Other Default Related Charges – Reminder letters sent in relation to payment defaults or contract breaches are $20.00 and telephone/text message calls are $10.00. If an agent is required to visit due to contract breaches, the fee is $95 or more depending on the circumstances of the breach and is based on actual time/costs. Other enforcement costs which we incur may be added to your account.
- Credit Monitor Fee – If we receive a credit monitor advice from a credit reporter then a fee of $10 will be charged to your account.
- Repossession Letters – Repossession warning letters are charged at $50 per letter plus any disbursement costs for serving the letters.
- Recovery Costs – Actual enforcement costs may be added to your loan account. Also our time may be included based on our time incurred.
Current at 1 June 2017
Why Choose Admiral Finance For Your Next Loan?
Borrow From A Company You Can Trust
Our staff are locals who understand the financial demands of living in New Zealand. We’ll treat you with respect, outline your best options, and give you a fair loan that suits your personal circumstances. You can even come and visit us in our Christchurch office.
Get The Funds You Need Within 24-Hours
Apply for a loan today with Admiral and you’ll get approval within minutes and your funds released often the same day.
Competitive Loans That Suit Your Lifestyle
You can potentially save thousands with an Admiral Finance loan. Our rates are extremely competitive, and designed to suit your lifestyle and budget. So you can rest assured that when you apply for an Admiral loan you’re improving your life and financial situation, not just adding another financial burden.
Flexible Options For All Financial Situations
Admiral is run by real people, not computers. So when we consider your application we’ll review your current situation and ability to pay without focusing on your past credit history . Even if you’ve had difficulties securing funds in the past, it’s quite possible we can find a flexible solution for your situation.
Applying is easy
Apply in only 5 minutes online, or give us a call to discuss on our Freephone number 0800 200 261
One of our friendly team will personally assess your application and be in touch within 60 minutes (during business hours)
If you’re loan is approved, we’ll release your funds, usually within 24hrs of applying directly into your account or by cash cheque.
If you want to talk to one of our friendly team about your loan, give us a call now for free on 0800 200 261. Or, if you’re in Nelson, Dunedin, Invercargill, Timaru, or in and around Christchurch, we can even send someone over to see you at home.
Michael borrowed $8,750 to purchase a van for his new business
"Admiral Finance are definitely the only finance company we would deal with in the future. They provide an excellent, hassle-free service and are very user friendly. I would seriously advise people to approach them if they need finance."Read their full story
Jan needed $1500 to buy some furniture for her home
Jan needed $1500 to buy some furniture for her home Jan is a lady with her hands full. She manages a pharmacy during the day and has dogs and home renovations that keep her busy after hours. She wanted to buy some new furniture for her home. Jan called on Friday and had her loan approved the same day.Read their full story
Brian needed $700 for urgent car repairs
Brian needed $700 for urgent car repairs Brian’s car broke down in the car park at the local supermarket. With steam bellowing everywhere, it was obvious that the engine had overheated and needed urgent repair. Brian saw an advertisement for Admiral Finance in the newspaper and called us. As Brian worked full-time as the operations manager for a paper company, he was unable to sign the legal documents during work hours. So we went to him after hours and signed him up right there and then. We also gave him the money straight away.Read their full story
Stuart borrowed $500 to pay school fees
There were no problems at all, the mobile manager came direct to my house to sign up the contract. The people are friendly and the access to loans is easy. They don’t take long to get.Read their full story
Brent borrowed $14,000 for debt consolidation
We worked out a way that Brent could repay the money with payments coinciding with his payday. We got him the $14,000 and Brent was able to pay off his credit cards straight away.Read their full story
With us, getting finance from $1,000 – $50,000 couldn’t be easier
over the course of your loan competitive rates
Enjoy flexible payment
options that suit your lifestyle and pay cycle
Get a zero-deposit loan
secured by a vehicle, household items, or property
And get approved fast
– in as little as 60-minutes – so you can get back to enjoying your life, not focusing on bills.
If you want to talk to one of our friendly team about your loan, give us a call now for free on 0800 200 261.
Lending criteria, terms and conditions, and fees apply to all Admiral Finance personal loans.