Comparing Top Personal Loans: ASB vs ANZ vs BNZ

ASB's personal loan offers an attractive starting rate of 12.90% with terms up to 7 years, making it a solid choice for those seeking manageable repayments over a longer period. The draw here is the major bank reliability and flexible terms. However, the rate heavily depends on your credit profile, and unsecured loans tend to have higher rates.

ANZ provides a straightforward fixed rate of 13.90% without application or early-repayment fees, which is appealing for existing customers. Compared to ASB, ANZ lacks rate flexibility but compensates with transparency and no hidden fees, making it worth considering for ANZ customers.

BNZ's offering is straightforward, with no early repayment fees on variable rates. It competes directly with ANZ by offering up to NZ$50,000 loans. While it's less competitive on minimum rates compared to fintechs, the trade-off is the reliability of one of New Zealand’s big four banks.

Instant Finance stands out with a wide range of rates from 9.95% to 29.95% and a quick approval process, ideal for those needing smaller amounts or flexible terms. The downside is the higher establishment fees and potential for high rates.

Harmoney offers a fully online experience with rates from 7.99% to 24.99%, appealing for NZ borrowers who prefer a quick, unsecured loan. The process takes as little as 9 minutes, but the establishment fee and personalized rates mean the lowest advertised rates aren't guaranteed.

The Co-operative Bank is known for its award-winning low rates starting at 9.95%. It's an option for those with good credit seeking competitive rates from a smaller, customer-focused bank. However, the limited branch network might not be convenient for everyone.