Answers to the most common questions from our clients

How much money can I borrow?

Our usual lending range from $500 to $5000 although how much you may be able to borrow is dependent on your individual situation, but includes considerations such as your repayment ability, the loan security you offer, your credit history and any other factors we consider may be relevant to your specific needs and situation.

What would my repayments have to be?

We complete a full budget (the same as used by the New Zealand Budget Advisers Association) with you as part of your lending application. From your completed budget, we can then discuss and agree an amount that is realistic and affordable. It has to be comfortable and manageable for you.

I think I may having a poor credit rating and history. What opportunities might I have?

Sometimes things go wrong and we can end up with credit issues being reported. This is common, and you are not alone. We strongly encourage you to understand and address your credit history if there are issues. We will want to understand how you got into financial difficulty, and we will be looking for signs that you have got things sorted and back under control.

What kinds of things can I borrow money for?

Dental work, car repairs, unexpected bills are common reasons. We prefer to see that you are borrowing money for a worthwhile purpose and that the loan will meet the intended need or solve a real problem.

How old do I have to be?

The law states you have to be at least 18 years of age. In our view 18 is still too young.

How long can I borrow for?

A lot can change in a short time and while we prefer to keep loan terms under 2 years, this is more importantly dictated by the amount you want to borrow and your repayment ability.

Do I need security?

Yes. Our loans are commonly secured by motor vehicles, a property caveat, boats, caravans, household chattels, or a combination of them. If you are borrowing to purchase an asset we can use that asset as security or partial security for the loan.

What are your interest rates and fees?

As of 18/9/2017, our rates and fees are as follows:


Loan Establishment Fee $210.00

Security validation and inspection $142.80 in the Christchurch metropolitan area, and variable for areas outside Christchurch.

Interest rate 29% per annum (debited weekly)

Default interest rate 34% per annum (on the overdue amounts only)


The following credit fee(s) and charge(s) (which are not included in the initial unpaid balance) are, or may become, payable under, or in connection with, the contract.

Your credit contract may allow the lender to vary this/these fee(s) and charge(s).

  1. Management fee $19.50 per month as long as there is an unpaid balance.
  2. Trace Fee of $25 any time you make a payment into our Bank account without electronically including your contract reference number.
  3. If we use a solicitor to prepare any document for this loan, the fees charged by that solicitor.
  4. $15.00 Early full repayment administration fee if you prepay the unpaid balance in full.  This is a fee for management work if you repay the unpaid balance early.
  5. Consumer Monitor Fee of $10.00 each time we receive a Consumer Monitor Report.
  6. $15 Variation of Agreement fee anytime we discuss and agree an alternate repayment arrangement.
  7. The costs expenses and other liabilities listed in clause 20.d  of the operative terms which arise when you are not in default.

What are your standard Terms and Conditions?

You can read a sample contract that contains our standard terms and conditions by clicking the button below

Read our T&C ‘s

What is a Pre-approved Loan?

If you want to purchase a vehicle, boat, a caravan or almost anything but need to know if you can get the finance to pay for it, SCL Finance can give you a Pre-Approved Personal loan.

Having a pre-approved loan will enable you to shop around for your purchases with the knowledge that your finance is already secure. Pre-approved loans are valid for 14 days from date of approval.

Can I buy from an auction?

Yes. With a pre-approved loan you can buy either, privately, from an auction, TradeMe or from a car or boat dealer.

What is a Chattel?

A chattel is a movable possession, like furniture and personal effects (as opposed to a house or land).

What if I want to sell my asset that was used as security?

If you want to sell or refinance any of your property, vehicle, boat or chattels that have been used as security for your loan, contact us immediately prior to selling it. In order to pass on clear title we may require that your loan be settled from the sale of the property or that you provide alternative security acceptable to us. We are often able to transfer our security to another property.

What is a Caveat?

This is a registered charge against a property (Land) that entitles SCL Finance to register a 1st or additional mortgage over the property. The property is therefore security for the loan.

How do I make payments?

Our preference is to set up a Direct Debit from your bank account. We also accept automatic payments or a wages deduction set up with your employer. Your repayments can be made weekly, fortnightly or monthly and generally coincide with your pay.

What should I do if I cannot make a payment?

If you find yourself in difficulty with your payments phone us. We are more than happy to talk through this with you and work together to decide on a suitable payment arrangement. You also may be eligible to make a claim under Payment Protection Insurance if it is included in your loan.

What if I want to make a complaint?

If you have a complaint, we would like to know. We will do our best to put it right and learn from what you tell us.

You can contact us in the following ways:
Phone: SCL Finance on 0800 725 725
Email: admin@sclfinance.co.nz
Post: SCL Finance Limited, P O Box 4134, Christchurch

If we cannot resolve your issue immediately, here is how we will deal with it.

  1. If you have made your complaint verbally or via our web site, we will acknowledge your complaint immediately. If you have made your complaint in writing we will acknowledge it within 5 working days of receiving it.
  2. We aim to have your complaint resolved within 5 days and will email or write to you outlining the resolution. If we are unable to resolve your complaint within 5 working days we aim to resolve it within 20 working days.

In the event that we cannot resolve your complaint within 5 working days, we will write to you advising you why we require more time to resolve your complaint.
If you have followed our internal dispute resolution procedure and your complaint remains unresolved you may refer the matter to Financial Dispute Resolution Services. This scheme is independent, impartial and free to consumers. Our financial service provider number is FSP31303.

Contact details are as follows:
Telephone: 0508 337 337
Email: enquiries@fdrs.org.nz

Write to them at: Office of the ISO, PO Box 10-845, Wellington 6143

Is there a penalty for paying my loan before a contractual finish date?

There is no penalty or disadvantage to paying your loan early. It is to your advantage to do so.

Do you offer insurance?

Yes, we offer payment protection insurance. It is a requirement for any personal loan we enter into with our clients, however you are free to arrange your own payment protection insurance.

Do you lend to beneficiaries and Super-Annuitants?

Yes, everybody has financial needs, and we are happy to discuss and understand your specific circumstances regardless of your age or employment status.

I can’t find what I’m looking for.

Phone and ask. You are welcome to ask questions. Information is free and our freephone is 0800 725 725.