Be credit smart

A quick guide to your personal loan application.

Are you applying for a personal loan or credit for the first time? Maybe it’s for a car, or travel, or a wedding, or you just need to sort out your finances. Whatever you need, it’s helpful to know a little about the process and some of the aspects we look at in each application.  This isn’t a definitive list, as you’d expect all applications are subject to ASB’s lending criteria.


Some things we look at

Your identification

If you’re an existing ASB customer, we will need to see one form of photo identification, such as a Drivers Licence, passport or ID card. If you are not currently an ASB customer, we will need to see two forms of identification, and proof of your current address; an electricity or service/utility bill addressed to you at your address is fine. You will also need to be 18 or over and a New Zealand citizen or permanent resident.

Your ASB bank account

If you are an existing ASB customer, we will need to check you are operating your account(s) as we agreed and within its limits. For example, that you don’t regularly overdraw your account or exceed your overdraft limit.

Your ability to repay

We’ll need to make sure you’re able to comfortably make the loan repayments after all your other monthly expenses are met.

Your credit history

If you’ve ever bought anything on hire purchase or with a store card, or had a credit card, you will have a credit history.
This holds information about your borrowing and repayment history and includes previous loans, credit cards and rented equipment. If you apply for a personal loan with ASB, we will need to check your credit history as part of your application.

Many people don’t realise they can check their own credit history. You can check your credit details are up to date and sort out any errors. A good credit history is important because it helps to show you are financially responsible and able to manage your repayments.

Credit report

A credit report is simply a file on your credit history. It’s what we look at as part of your application. Find out more about credit reports at D&B check your credit.


Other tips

What if I'm not an existing ASB customer, can I still apply for a personal loan?

Yes, you can apply for a personal loan - we’d like you to become a customer. Part of what we’ll look at is your current income and your outgoings; we will ask for this information on your application, to make sure you can comfortably afford the repayments after you’ve met all your existing expenses.  

What's the minimum amount for a personal loan?

The personal loan minimum is $2,000. If you’d like to borrow less you may like to discuss an overdraft facility with us, they are simple and easy to arrange.

Any other tips?

Yes. Work out your ‘repayment budget’ before you apply. You’ll know best how much you can afford to borrow and repay within your existing financial circumstances. Make sure you think carefully about your current income and expenses and that you have flexibility in your planning to allow for the unexpected.

Use our borrowing calculator to work out what your repayments might be over different timeframes and for different amounts, and use our online personal loan application to apply.

Existing ASB customers, you can complete your personal loan application faster in FastNet Classic online banking.


Apply for an ASB Personal Loan

Use our borrowing calculator to work out what your repayments might be over different timeframes and for different amounts.

You can apply for a personal loan online at any time day or night. Our phone lines are open 7 days a week, Mon-Fri- 8am-8pm, Sat-Sun 9am-5pm.

ASB’s lending criteria, terms and fees apply.

Personal Loans Personal Loans Application Guide