personal loans nz

Improve your credit score and increase your chances of approval when you apply for a  secured personal loan!

Use CompareBear to find the best, low-interest secured personal loan providers in NZ!

What are secured personal loans?

Worried about taking a loan due to a bad credit history? If you have any assets you’re willing to use then maybe you can go for secured personal loans. If you have anything of value you can offer as collateral to your lender, this can be a great way to gain funding for your next venture or purchase.

Fortunately, you don’t have to spend an exhausting amount of time and effort just to find the best deals. CompareBear’s FREE comparison tool can show you all the available deals in just one page, letting you choose your preferred provider all in under four minutes!

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The most common items used as collateral for secured personal loans are vehicles and property, even when you’re just in the process of buying those things. Aside from that, some lenders also allow you to use valuables like jewellery as a collateral for your secured loan.

This would depend on what you will use the funds for. Options include:

  • Mortgage Loans
  • Vehicle Loans
  • Car Title Loans
  • Secured credit cards
  • Life Insurance Loans
  • Share or Savings-secured Loans
  • Bad Credit Loans

Some of these loans like vehicle and mortgage loans are secured by the assets purchased while share-secured or savings-secured loans operate a little differently and can be used to build your own credit score if you lack a credit card.

You generally need to take note of a few important things when you’re planning on taking out a secured personal loan. For example, keep in mind which collateral you’re planning to use as well as the interest rate of your loan. You’ll also need to take note of their fees and charges as well as the maximum and minimum amount you’re eligible to borrow.