Are Instant Loans Really Instant?
If you’re searching for an instant loan, you’re likely facing an urgent expense and need a fast solution. In New Zealand, there is no such thing as a loan that’s approved and paid out instantly with no checks. All responsible lenders must assess whether a loan is affordable.
Same-day loan approval are definitely possible, and many borrowers receive a decision within 1–2 hours when applying online through a responsible lender.
The term “instant loan” is commonly used online, but it can be misleading. In practice:
- All responsible lenders carry out lending check
- Approval times depend on affordability and eligibility
- Loans are assessed quickly, but not automatically
At Loansmart, applications are reviewed as part of a responsible lending process, which focuses on whether repayments will be affordable.
What to Consider Before Applying for an Instant Loan
When money is needed urgently, speed matters – but cost and long-term impact matter just as much.
One of the fastest ways to find a suitable loan is to apply through a loan broker. Instead of applying to multiple lenders yourself, a broker:
- Reviews your situation once
- Puts your application in front of multiple lenders
- Presents options that may suit your circumstances
More lenders means more chances of approval, without repeatedly applying on your own. Choosing a loan broker who is also a licensed financial advisor adds peace of mind, as they are required to act in your best interest and recommend options that support your long-term financial wellbeing.
Online process
Our loan application takes just 3 minutes!
With Loansmart, we take all the stress out of applying for loans. All you have to do is provide us with some basic info and we take it from there.
Provide us with a photo ID and recent bank statements so we can get started.
Doing it online means you don’t need to take time out from your busy day to apply for a loan.
No paperwork
The last thing you want to do if you’re looking for an instant cash loan is fill out lengthy forms.
Loansmart makes applying for a loan easy with our paperless online process.
You can do it without documents from any device, wherever you are! So easy.
Giving you options
When you apply for a loan through Loansmart, we put your application in front of multiple lenders to give you options.
That way, you can choose the best deal for you.
The whole process takes just 1-2 hours* with no paperwork – we jump through hoops so you don’t have to!
Just make one application, then sit back and let our team of experts do the rest. Learn more about what a Loan Broker does.
Same day payment
There’s no waiting around with Loansmart. We offer loans on the same day – smarter loans, faster, that’s our tagline and we own it.
After completing our no paperwork 3 minute online application, we’ll get in touch to discuss your application before coming back to you with options from multiple lenders.
Once you’ve chosen the best deal for you, we can start arranging for the money to be paid into your account.
If you complete the online contract and any additional steps before the end of the day, we can pay the cash that day. Depending on your back, it may appear in your account the same day or the next morning.
Bad credit - no worries
You may be looking for instant no-credit check loans. Learn how Loansmart can help you get a loan with bad credit. With us, you don’t have to hide your credit score. Over the years, we’ve assisted thousands of borrowers in obtaining fast, fair, affordable loans despite their credit history.
We have an entire section on our website dedicated to helping people improve their financial health. It’s full of helpful tips like ‘7 things you must know to improve your credit score’.
We’re here to help
So there you have it. Although we don’t offer ‘instant loans’ we are still pretty fast, especially in situations of urgency. Check out how we helped a client get emergency vet finance, after other lenders declined her. We’d love to help you, so just give us a call or apply online.
*Subject to responsible lending checks and lending criteria
Instant Loans FAQ's
Yes, our online loans are 100% online – no lengthy forms, or need to email your bank statements.
We need access to your bank accounts. This is to assess your ability to pay the loan back. We need to make sure your repayments are affordable.
We will send you a link granting us permission to view your statements online. This is done quickly, easily and securely. You don’t need to email us your bank statements.
Loansmart specialises in making loan payments affordable. We’ll look at your whole borrowing situation. We offer debt consolidation loans to people with existing loans who are struggling to make their repayments.
To help make payments more affordable, we offer lower interest rates and flexible repayment options.
Our minimum loan term is 6 months. Payday loans aren’t the best option for most borrowers. Live paycheck to paycheck? Let’s see if we can make living more comfortable for you by reducing your monthly loan repayments and giving you a top-up at the same time.
An instant loan is a personal loan, and can be used for all sorts of things like unexpected expenses, medical expenses, everyday expenses, travel expenses, vet finance – pretty much anything you need quick cash for.
We offer most of our loans unsecured, but if you have bad credit, your loan may need to be secured by an asset such as a car.
This depends on what you can afford. Loan amounts start around $2,000 and go up to $50,000 unsecured and $150,000 secured, but we sometimes lend higher than this.
For a repayment estimate, check out our personal loan calculators.
We offer competitive interest rates starting at 9.95%. Naturally, if you have bad credit you’ll pay more than this. The most you’ll be charged is 35.50%.
