Please Read the Following Prior to Applying
Purpose of this page and definitions used
This information page is provided as a guide to assist our valued customers understand our products, services and processes. Every endeavour is made to ensure the information on this page and website is correct, complete and current, however the information on this page and website does NOT form part of your loan agreement unless specifically stated otherwise. Please read your loan agreement carefully before deciding to proceed with a loan from us.
“Zethus”, “we” or “us” means Zethus Holdings Limited.
“You” means you the person accessing this website and/or communicating with us.
“This website” means www.paydayadvance.co.nz, the website of Zethus Holdings Limited.
“Payday Advance” is a trading division of Zethus Holdings Limited.
What type of loans do we do?
We provide personal unsecured loans.
Amounts range from $500 up to $3,000 for new customers.
Repayment terms are based on pay cycle frequencies (weekly/fortnightly/monthly).
Your personal loan limit will be determined based on our affordability index* and our responsible lending checks – a large component in determining your affordability is the amount of your regular income after tax. Your indicative personal loan limit will be calculated at the beginning of the application process. As a responsible lender, we will never lend more than a small percentage of your regular pay.
*Our index is one step to ensure you can meet the agreed obligations under this loan without causing you undue hardship. If you feel this is not the case, please do not sign the Loan Agreement.
Would a loan from us be right for you?
Before obtaining a personal loan, you should consider whether it is a sensible choice that meets your particular financial needs and situation.
Our loans are designed only for temporary use only. Often they are used in an emergency or where a cash shortfall has occurred that is expected to be resolved in a short period of time – for example, paying an unexpected, urgent bill when you don’t have enough funds but know that the next payday is just around the corner. A payday loan could also come in handy to cover:
- An urgent medical bill
- Car repairs
- An unexpectedly high power bill
- Fridge or washing machine repairs
As a responsible lender, we ask that you consider carefully before using our loans to pay for inessential items like birthday presents, shopping or holidays.
Even though we do our best to try and ensure our cash loans are affordable to repay, only you can decide if the cost of a loan from us is worth it for your particular situation.
There may be other alternatives, such as borrowing from a family member, a friend or a colleague or, for example, getting a credit card advance.
We are not in a position to be able to advise you if a loan from us is appropriate for your specific situation. You may need to seek your own advice in regard to the loan and/or the loan agreement.
Who do we lend to?
- Subject to our loan approval process, we generally lend to New Zealand residents and citizens over 18 years old who are in stable, ongoing full-time employment.
- For our ‘Need A Lift’, ‘Going Places’ & ‘Moving Forward*’ loans, you need to be earning at least $350 a week (after tax) excluding government benefits.
- Unlike some lenders, we do not lend to unemployed, people whose main source of income is a benefit, temporary employed, pensioners, part-time and self-employed individuals.
- Before we make a lending decision, we will undertake some checks on your personal and employment details and your current financial situation – as a way of assessing the affordability of the loan. We try to restrict contact with your employer to only one anonymous call during the application phase.
*Available solely to our Returning clients, on an invitation-only basis and are still subject to standard eligibility, lending and affordability criteria.
How much do our loans cost?
Click here for full details of interest, fees and charges.
How fast will my application be processed?
In general, it takes us within 60 minutes to review a new loan application once we receive all supporting documents. Subsequent loans are generally much faster.
Once you send through all the documents we require, the lending team will need to conduct some checks in an effort to ensure the affordability of the loan and to verify personal and employment details.
Once we have made a lending decision, we will inform you by email and TXT.
Payday Advance is a Responsible Lender
You can find more information in the Responsible Lending section of our website.
You will be provided with a copy of your loan agreement and all required disclosures BEFORE you accept and are approved for a loan.
Please read your loan agreement and any communications from us thoroughly and understand the obligations you are committing to before you agree to the loan. Please seek independent advice if you do not understand any of the terms and conditions of the Loan Agreement.
Please don’t hesitate to contact us at firstname.lastname@example.org, on 0800 227 484 or via our online chat facility in the bottom right corner of the screen for more information.
I have changed my mind – how do I cancel the loan?
You have the right to cancel your loan at any time. If you cancel your loan, we can charge you:
- The amount of any reasonable expenses necessarily incurred by us in connection with the Loan Agreement;
- Any interest accrued for the period from the day you received the loan until the day you repaid the balance.
Refer to your Loan Agreement for full details on your right to cancel and your obligations on cancellation.
I can’t meet my repayments
Click here for details on what to do if you expect to have repayment difficulties.
I have a complaint
We strive to provide a quality service to all of our customers. However on occasions things don’t always go smoothly, but don’t worry we will endeavour to put things right.
As a responsible lender, we are a member of an independent dispute resolution scheme operated by Financial Services Complaints Limited (“FSCL”) and approved by the Ministry of Consumer Affairs. There is no cost to you for lodging a complaint.
FSCL generally does not deal with complaints about fees or interest charges unless such fees and/or interest charges are not in accordance with your loan agreement.
Please click here for information on our complaints process and details on our independent dispute resolution scheme.
We are Government Registered
We support the New Zealand Government requirement for Financial Service Providers to register with the Registrar of Financial Service Providers in order to conduct business in New Zealand. We have registered and our registration number is FSP 298566.
The governing legislation is The Financial Service Providers (Registration and Dispute Resolution) Act 2008. There are many consumer benefits that will ensure only registered entities like us can operate in New Zealand, including:
- You will have access to the electronic register of Financial Service Providers which will help you to be comfortable that the company has passed the Government requirements for registration;
- You will be confident that the owners have all been screened by Police checks and passed;
- The act ensures registered companies comply with all international obligations to prevent money laundering and the financing of terrorism;
We welcome the new laws and are compliant and registered for your security.
Compliance with legislation
In addition to our requirements to register as a Financial Service Provider under the Financial Service Providers (Registration and Dispute Resolution) Act 2008, Zethus Holdings Limited and our activities in providing financial services, is also governed by several other pieces of legislation including by way of examples: The Companies Act 1993; The Fair Trading Act; The Privacy Act 1993; The Unsolicited Electronic Messages Act 2007; the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and The Credit Contracts and Consumer Finance Act 2003. Zethus Holdings Limited is committed to ensuring it acts as a good corporate citizen in full compliance with all applicable laws and regulations.
Disclaimer, errors & omissions
Whilst every endeavour is made to ensure the information on this page and website is correct, complete and current, the information on this page and website does NOT form part of your loan agreement unless specifically stated otherwise. Please read your loan agreement thoroughly before deciding to proceed with a loan from us.