Personal Loans
Personal loans
PSS Secured Loans from
10.50% p.a.
Vehicle secured loans from
12.95% p.a.
- Easy to apply with great interest rates
- Secure your loan against your PSS, GSF or motor vehicle
- Re-borrow the amount you have already paid off with PSS secured loans
- Make early or lump sum repayments without penalty
Bring your plans to life with a personal loan
Vehicle loan
Looking to buy your first car, upgrade the family wagon, or drive the car of your dreams?
Tips on buying a car
Life milestones
Celebrate the most important days and special events of your life the way you want.
Apply now
1Loan
Got pesky debts hanging around? Why not bundle them into one loan to make life easy!
Find out more about 1Loan here
Top tips for applying
Take your time!
Grab a hot drink and sit down at your PC or laptop to make it easier. We recommend giving yourself about twenty minutes to complete the application.
What you'll need
Download a copy of your latest payslip, and if you're going to secure your loan against your PSS you'll need a current screenshot of that too.
Background info
Have a quick look through your bank accounts, statements or budget so you've got a good idea of your income and expenses.
Fill out the application!
Once you're all done, one of our team will be in touch in a few days to chat through your application.
Rates
| Personal Loans | Interest Rate p.a. |
|---|---|
| Loans fully secured by PSS or GSF | 10.50% |
| Loans partially secured by PSS or GSF | From 11.70% - 14.75%* |
| Loans secured by Motor Vehicles up to a maximum of $40,000** | 12.95% |
| Unsecured up to a maximum of $30,000 | 13.95% |
*Interest rate charged for loans partially secured by Police Superannuation Scheme (PSS) or Government Superannuation Fund (GSF) is determined by the loan amount versus the value of the PSS or GSF.
**Vehicle must remain in ownership of member throughout the duration of the loan. Any changes in ownership must be communicated with PCU immediately.
View our full list of rates and fees here.
Fees
| Fee | Amount |
|---|---|
| Establishment fee | $100 |
| Change fee | $50 |
| Top up fee when completed by PCU | $10 per top up |
| Top up fee when completed through internet banking | $5 per top up |
There are no fees for early or lump sum repayments.
Loan protection insurance
Free for members under 65 whilst they are (or their parents are) employed by New Zealand Police.
You’ll be covered up to $75,000 of the outstanding loan balance upon your death or in case of a permanent disability.
If you are not eligible for the free loan protection insurance, you can apply for standard loan protection insurance through another insurance company.
Apply for a personal loan
You'll need:
- Your QID if you're a sworn officer.
- The value of your PSS or GSF if you want to use your Police superannuation as security. This is available at www.policesuper.co.nz or you can call Mercer on 0800 777 243 to arrange a valuation.
- Your bank account statements for the last 3 months.
- A recent payslip
The fine print
Normal lending criteria and a $100 establishment fee applies to all new loans.