Be credit smart

A quick guide to your personal loan application.

Are you applying or thinking about applying for a personal loan, credit card or personal overdraft for the first time? Maybe it's for a car, travel, or something else important to you. Before you start your application, it’s a great idea to know a little bit about the application process, loan options and some of the things we’ll consider when reviewing an application.  


Some eligibility criteria we may consider

Do you have the right forms of ID?

It's always good to make sure you're prepared with the right documents to help make your application process as smooth as possible. Our ID requirements are different depending on whether you're an ASB customer or not. You can check our ID requirements here to find out what you'll need to supply. Please note, you need to be 18 years old or over and a New Zealand citizen or permanent resident.

Your ASB bank account

If you're already an ASB customer, we'll consider whether you've complied with the account terms and conditions that you originally agreed to and that you're operating your account satisfactorily. If you often spend more than what you have available in your account, for example, this may impact your eligibility for a personal loan, credit card or personal overdraft. 

Your ability to repay

To make sure we’re lending to you responsibly, we'll need to check that you're able to comfortably afford the loan repayments after all your other expenses are met. 

Your credit history

If you've ever bought anything on hire purchase, with a store card, or had a credit card, you will have a credit history which is collected in a report. This is something we’ll look at as part of your application.  

A credit report holds information about what you’ve borrowed before and if your repayment arrangements have been met. It includes past loans, credit cards and any rented equipment.

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 outstanding issues. A good credit history is important because it helps to show you’re financially responsible and able to manage your repayments. To review your credit history, refer to these resources from the New Zealand Government website


Some ideas that may help

Building certain financial behaviours may help you work towards eligibility. Here are a few simple tips to keep in mind:

  • Pay bills on time - late bill payments may negatively impact your credit history. 
  • Stay on top of your credit history - see if there is anything in your credit report that doesn't sound correct. To dispute an error on your credit report, contact both the credit reporting company and the company that provided the information.  
  • Consider whether you’re using your account responsibly - make sure you always have money available in your account to pay bills or automatic payments.  
  • Plan ahead - work out a repayment budget before you apply and try to include some flexibility in your planning. Allow for the unexpected and only borrow what you think you can reasonably afford to pay back.
  • Use our borrowing calculator - work out what your repayments might be over different periods of time and for different amounts. When you’re ready, use our online personal loan application to apply. 

Set up reminders and alerts to prevent going into an unarranged overdraft or exceeding your agreed overdraft limit.

Frequently Asked Questions

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 love for you to join us. 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, feel free to contact us and discuss alternative options. Call 0800 272 662. 

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.

Apply online

You can apply for a personal loan online at any time day or night.

Apply now

Visit a branch or book an appointment now

Visit us at one of our many branches, or if you're an existing ASB customer, book a phone or in-person appointment through either FastNet Classic Internet banking or the ASB Mobile Banking app.

Find a Branch

ASB’s lending criteria, terms and fees apply.

Personal Loans Personal Loans Application Guide