Unity Personal Loans

Unity is a New Zealand credit union providing a variety of personal loans, in addition to transaction accounts, savings accounts and KiwiSaver products.

Unity (formerly NZCU Baywide) is a New Zealand-owned credit union that operates eight branches across the motu. Originally established in 1971 as the Whakatu Freezing Works Employee’s Credit Union, the credit union expanded to several other meat works companies in the ’80s before rebranding as Baywide Credit Union in ’86.

The firm has seen rapid expansion of branches throughout the following three decades, with multiple credit unions – including NZCU Taranaki – merging with Credit Union Baywide. Its rebranding as Unity was the culmination of its growth.

What personal loan options does Unity offer?

Unity requires all its personal loan borrowers to first open a Unity transaction or savings account.

  • If you are an existing customer, you are eligible for both secured and unsecured loans, up to $40,000
  • If you are a new customer, you are only eligible for a secured loan, up to $40,000
  • Interest rates for unsecured loans range from 12.9% p.a. to 21.9% p.a. depending on the borrower’s individual credit rating – the better your credit rating, the lower your interest rate
  • Interest rates for secured loans range from 9.9% p.a. to 18.9% p.a. All secured loans must be secured with registered motor vehicles and/or property
  • There are no fees for early repayment
  • $200 approval fee applies

How do I apply for a Unity personal loan?

To apply for a loan, simply visit the Unity website and click Apply Now to begin the application process.

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

  • 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 and credit history

You’ll also need to meet the following requirements:

  • You must be a natural person (i.e. not a company or other legal entity)
  • You must be an New Zealand citizen or permanent resident
  • You must be 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: Bruce Pitchers | Last updated: December 8, 2023