Online Loans

Online loans are a great way to borrow money if you need cash fast.

But what are online loans, and how can you get one?

In this article we’ll explore how online loans are different from borrowing a traditional lender like a bank, and outline some of the advantages of using an online lender.

What is an online loan?

An online loan is a type of personal loan that’s done completely online, with no paperwork to fill out or appointments to attend.

Everything from submitting your application form to signing your loan documents is handled digitally.

Online loans weren’t even a thing in New Zealand until the year 2000. That’s when Murray Greig, director of our parent company, Loansmart, decided to offer customers an alternative to cumbersome loan processes.

His goal was to make the lending process simpler and quicker than traditional methods.

This new approach to lending offers customers some pretty big advantages when compared with traditional lending.

Benefits of online loans

Convenience

With an online loan, you can do everything from your device, from wherever you are.

All forms are handled online, including any documents you need to sign, which are done electronically.

You don’t even need to send in your bank statements – instead, you give us access via our secure portal.

With no paperwork or meetings, it couldn’t be easier to go through the online loan process. We do all the legwork so you don’t have to.

Speed

Because everything is handled digitally, our team has access to all the information they need much faster.

That means they can process your loan application more quickly. Usually we can get approval within 1-2 hours* and have the loan paid out the same day*!

Some of our customers have come to us urgently needing a loan, having been told by a bank that their process would take a week.

When it comes to urgent things like car or house repairs, many people can’t wait that long. That’s why the speed of an online lender is such a huge advantage – most of the time we can get things sorted for you the same day.

*Subject to responsible lending criteria.

Flexible loan options

At East Bay Finance, our interest rates are tailored to you.

Banks offer pretty much a one-size-fits-all approach, no matter how good your financial position is.

That means if you have a great credit score and lots of disposable income, you may still end up paying the same interest rate as someone who doesn’t.

East Bay Finance offers flexible rates based on your situation, so we can give you the best deal for you.

We also structure your loan to make it as affordable as possible. With loan terms from 6 months to 7 years, we can make sure your monthly repayments give you plenty of breathing room.


Try our free loan calculator

Types of online loans

East Bay Finance offers lending for almost any need, all online.

With rates from just 9.95%, you can borrow up to $75,000 unsecured and $150,000 secured.


Apply Now! It’s Easy


Try our Loan Calculator

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