Gem Personal Loans

Gem is a New Zealand provider of personal loans and credit cards.

Gem visa logo

Gem is part of Latitude Financial Services, a leading digital payments and finance business. Across Australia and New Zealand, it has 2.6 million customer accounts and supports more than 1900 merchant partners.

What personal loan options does Gem offer?

Here’s an overview of the loans offered by Gem:

  • Gem offers personal loans starting from $2000 up to a variable limit dependant on your current financial situation
  • Gem’s interest rates for an unsecured loan are between 9.99%-29.99% or 8.99%-28.99% for secured loans
  • Loan terms between 1 and 7 years
  • Gem charges a $240 establishment fee
  • Flexible repayments with no early  repayment fees

How do I apply for a Gem personal loan?

To apply for a loan, simply visit the Gem website and: 

  1. Check your interest rate online in 2 minutes without impacting your credit score
  2. Check your eligibility and complete your application
  3. Provide any required documents such as payslips and identification
  4. Securely accept your loan contract online
  5. Within 24 hours of your contract acceptance, the money should be in your account

 Typical pieces of information you may need to include in your application include:

  • Valid proof of identification, such as your passport or drivers licence
  • Proof of income
  • Your typical expenses such as rent/mortgage payments, household costs, insurance, etc
  • Any current outstanding debts

You’ll also need to meet the following requirements:

  • Be a New Zealand citizen with a valid NZ driver licence or NZ passport
  • Earning a stable income
  • Over 18 years of age when applying

Before taking out a personal loan, make sure you read up on what to think about before you apply. To find out how much you could afford to borrow, check out Canstar’s personal loan repayment calculator.

Compare Personal Loans with Canstar

Written by: Caitlin Bingham | Last updated: December 8, 2023