Costs of Borrowing

Annual interest rate (AIR): This is set between 9.97% and 33.97% depending on your client rating. This is our own unique system that looks at hundreds of pieces of data to reward safer borrowers and give them a lower annual interest rate. The interest is always fixed for the life of the loan so you know how much you have to repay before you sign the loan contract.


No early repayment fee: We promise to NEVER charge a fee for early repayment. When you customise your loan using our sliders, you can choose how much you want to repay each week, fortnight or month. Unlike a lot of lenders we encourage you to pay as much as you can reasonably afford, because you will save on interest and get the loan paid off sooner.


Establishment fee: This is the fee for receiving, processing and advancing your loan. It’s a one off fee that applies to all personal loans (both new loans and refinances). It is included in your repayments.

Loans of $200-$499: $134.
Loans of $500-$999 : $234.
Loans of $1,000-$20,000: $334.


Administration fee: This is the fee charged to cover the costs of administering your loan. It includes the processing of payments, all customer enquiries and updates, provision of balances and regular statements. It is $4.01 per week, but only charged while your loan is active.


Default fee: This is only payable if your loan is in default. It is payable daily, but charged weekly. The default fee covers the costs to the company for loans that are a higher risk, due to being in arrears and is $0.94 per day while the loan is in arrears.


Default interest: This is the default interest rate for the portion of your loan that is in default. The Annual Interest Rate for the default interest is 8.95%, however this is not charged on the total balance of the loan, only the balance in arrears.


Please note that if you default on your loan we do have a credit control process that uses SMS, phone calls, emails and letters to contact you, and these activities will incur further charges. Each loan is different and your loan contract will clearly outline any potential costs involved with being in default. Our fees are reviewed annually and we do everything we can to reduce them as often as possible, so some older loans may have different fees to those above. However your loan contract will outline the fees applicable to your specific loan.


We want to give you as much control as possible with your loan, but we do have some minimum requirements to ensure that every loan meets our responsible lending criteria. We will run through this with you when you apply, but things such as our minimum loan term of six months and minimum repayment amount of $20 per week are there to protect borrowers, so we may ask that you increase the repayment amount or extend the loan term from your initial application. This is always done before your loan is approved and will be shown in your loan contract before you need to sign it. If you’ve got any questions you can always call us on 0800 543 718 to discuss your unique circumstances.

What is a Pronto Client Rating?

We want to reward our good customers with a lower interest rate. It is only fair that the safer you are as a borrower, the less interest you should pay.

So we’ve developed a way to objectively assesses each applicant, creating an individual client rating. There are hundreds of pieces of data used to create your individual client rating, including traditional sources such as credit checks, public records, your repayment history and bank data. We also consider whether you have security for the loan and the value of that security. But we also use a variety of data available online. Using this information we’re able to see which borrowers are a lower risk and give them a lower interest rate.

This method is unique to Pronto, and we believe it’s the first of its kind in New Zealand. It has been designed by us to ensure each loan is assessed objectively and reward our good customers.


Below you can see what annual interest rate you’ll pay, depending on your Pronto client rating.

Pronto client rating

Annual interest rate
1000 +9.97%
< 033.97%



As a current customer you can actually improve your Pronto client rating, by always making your payments and ensuring you update us of any changes to your circumstances before our system identifies them. Simple things, like changing mobile numbers or moving to a new address, are things that can reduce your client rating if our system picks them up before you tell us. Another important thing is to keep your vehicle’s WOF and registration current at all times.

Pronto’s client rating is all about being fair. After all, it is only fair that lower risk borrowers get a lower interest rate.