FAQs

Question: What are your fees and rates?

Answer: Our standard interest rate for fixed-term personal loans is 18.75%. Our standard rate for Top-Up flexi-term loans is 19.95%.

Question: Do you offer interest-free loans?

Answer: Yes - all of our personal loans come with 3 months interest free. You may opt out of these if you wish. Many of our dealers also offer interest-free terms on items purchased through their stores. 

Question: What if I don’t have a valid passport, New Zealand driver’s license or New Zealand firearms license?

Answer: The only other form of ID that we can accept is a HANZ 18+ card in conjunction with a New Zealand birth certificate. Unfortunately we must adhere to the Anti Money Laundering and Counter Funding of Terrorism Act 2009 and are therefore unable to accept any other forms of identification. 

Question: Are there any fees or penalties if I repay my loan early?

Answer: Unlike almost all other finance companies, Gilrose Finance does not charge an early repayment fee. You can repay your debt in full at any time and will not be penalised. 

Question: How can I pay off my loan?

Answer: We offer multiple ways for you to pay back you loan. Click here to see the options available. Please note that Top-Up Loans can only be paid by Direct Debit.

Question: Can I come in to your office and pay a loan repayment with cash?

Answer: Unfortunately not. Certain laws forbid us from accepting cash as a form of payment. 

Question: Who can witness my contract and ID page?

Answer: Anyone who is over the age of 18 and lives at a different address to you can witness your contract, however only the following people can witness your ID page: A lawyer or solicitor; a Justice of the Peace, a registered teacher or doctor; a police officer, a minister of religion, a registered chartered accountant; a Kaumātua or any retailer/vendor from the Gilrose dealer network. 

Question: Am I able to have more than one loan at a time?

Answer: Each application is assessed individually, and although your existing exposure and debt level will be taken into account, there is no limit to the number of loans you can have at any one time. 

Question: Can I top-up my current loan?

Answer: Yes you can.  You will need to apply for a 'Top Up loan'. Click here for more information.

Question: What can I use as Proof of Bank Account?

Answer: This needs to be a bank statement, letter from a bank or a screenshot from your online banking. Please note that we can only direct funds to registered bank accounts domiciled in New Zealand; we are unable to direct funds to a credit card.  

Question: What can I use as Proof of Address?

Answer: Ideally, your Proof of Address will be a posted statement from a registered bank, a government document (IRD, WINZ, NZTA, NZ Electoral Office, etc), a rental/lease agreement, a utilities bill (power, gas, and electricity), etc. All Proof of Address documents must be dated and less than six months old. 

Question: Can I remove the booking fee?

Answer: Unfortunately not. Please rest assured that Gilrose Finance has some of the lowest rates and fees in the market. We keep an eye on our competitors so that you don’t have to! 

Question: Can I fax or e-mail my contract to you?

Answer: Yes. This is likely to be the fastest way to process your loan. You can also send back the contract to us in the mail. 

Question: Do I have to provide ID if I’m an existing customer?

Answer: Yes. Legally, we are required to sight ID (or a witnessed and verified copy of an ID) for each and every loan application. 

Question: Do you do pre-approvals over the phone?

Answer: We prefer all applications to be made online so that you can provide full and accurate information, and so that you have a chance to read our terms & conditions and our privacy waiver. To apply online for a loan click here . Once you have applied online, we aim to get back to you promptly during business hours . 

Question: What is a repayment waiver?

Answer: The repayment waiver is repayment insurance that covers the borrower in the event of death, illness and redundancy (if applicable). A Repayment Waiver is optional for those with Income Protection Insurance, and compulsory for those without it. Gilrose provide a Death Only Repayment Waiver or an Extensive Repayment waiver. For a full disclosure of what is and isn’t covered, please click here . Please note that this is not contents insurance and does not cover theft, damage or breakages. If your loan is for a car, we require your vehicle to be insured (and we will ask for proof of this before the loan is drawn down). If your loan is for travel, we strongly recommend that you arrange for travel insurance. 

Question: I have applied for a loan. What happens next?

Answer: Once you have applied online, we aim to get back to you promptly during business hours - our average response time is 15 minutes. When an e-mail address has been provided, we will contact you via e-mail - either with an approved contract, or a request for further information. 

Question: I have applied for a loan and haven't heard back from you yet. Did my application come through?

Answer: At Gilrose our average response time is 15 minutes during business hours. If you apply after hours you may not receive a reply until the following day. Please be sure to check your Junk inbox to see if our response e-mail went there. If you are using a Hotmail email address and don't seem to be receiving emails please click here. If you still haven't received a reply please speak to us on Live Chat, e-mail us at personalloans@gilrose.co.nz, or call us on 0800 332 228.

Question: How long does it take for the money to arrive in my account?

Answer: Once we have received your signed documents the funds will be transferred into your account within two business days. Depending on which Bank you’re with and the day and time we receive your documents, we may even be able to pay you on the same day. 

Question: I have received the funds / items. What happens next?

Answer: Within 7 business days, you should receive a welcome pack in the mail. This will outline how you can make your repayments and when you’ll need to start making your payments. To set up a direct debit, click here .

Question: What if I have bad credit?

Answer: Unlike many other companies, Gilrose Finance applications are assessed by a person – not by a computer or an automated scoring system. This means that certain types of adverse credit can be overlooked, or that we can suggest alternatives that may help you to get your application approved (for example, we may request a co-signer). 

Question: How are your loans assessed?

Answer: When assessing a loan, we look at ‘the big picture’. This means that we take into account every piece of information that we ask for on the application form, your payment history with Gilrose Finance (if applicable) and your credit check. This helps us to tailor a loan to meet your needs. 

Question: Are there fees or penalties for late payment?

Answer: Rates and fees are charged for late payments. If you are having difficulty in meeting your repayments, please let us know by calling us or e-mailing us . 

Question: What is your lending criteria?

Answer: As long as you’re 18 or over and a New Zealand citizen or permanent resident, anyone can apply for a loan with Gilrose Finance, even if you have bad credit (see FAQ: ‘What if I have bad credit?’). 

Question: Do you do car loans?

Answer: We sure do. Please click here  to see our criteria for vehicle loans.    

What is your Financial Services Provider Number?

Answer: The Gilrose Finance Company Limited FSP number is FSP15921