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.

What personal loan options does Unity offer?

Here’s a snapshot of what loans Unity (formerly NZCU Baywide) currently offers:

Unity offers two types of personal loans: secured finance and unsecured finance. For more on the difference between secured and unsecured loans, check out our explainer.

Secured loan interest rates range from 7.9% – 24.9%p.a. with a minimum loan amount of $2000.

Unsecured loan rates range from 8.9% – 25.9%p.a. and also have a minimum loan of $2000.

Your personal loan interest rate will depend on your risk grade, which Unity determines for you based on factors such as your credit score, income, debts and other financial information – the riskier the loan, the higher your interest rate.

All loans have flexible borrowing terms ranging from 6 to 60 months, and all come with a $200 loan approval fee. Other costs such as credit checks and security registration may apply – check out Unity’s interest rates and fees for more information. There are also no early repayment fees, meaning you can make larger payments whenever you choose and pay off your loan sooner.

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.

How is interest charged on a Unity personal loan?

Interest is accrued daily on the outstanding balance of your Unity personal loan; this means that paying off your loan early will save you money by incurring less interest. However you may incur an early repayment fee by doing so; check the terms and conditions of your loan to see if this is the case.

Typical payments can be made either weekly or monthly for your Unity personal loan. However, you can choose to make repayments early whenever you desire. You can also choose to pay off the entirety of your loan early if you choose; simply log into your online dashboard and request a prepayment quote.

Unity (formerly NZCU Baywide) is a New Zealand-owned credit union that operates 16 branches across the nation’s north island. 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 1986. 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 recent rebranding as Unity is the culmination of its growth.

Unity Unsecured Personal Loan | Secured Personal Loan

Award: 5 Star Rating Personal Loans

Personal Loans

Unsecured & Secured

View the latest Personal Loan Ratings Report

Written by: Bruce Pitchers | Last updated: November 16, 2021

Other Personal Loans from