Chasmont has been financing the people of Otago with fair personal loans for years and after seeing the high rates offered on Pay Day to Pay Day loans we decided it was time for us to offer a solution without interest rates up to 800% per annum. 

We understand that sometimes you need the money now and just cant wait until payday or the time it takes to save, but with us you don’t have to pay ridiculous rates other places charge.

Whether it is for an unexpected bill, necessary vehicle repairs or family emergencies, contact us to see if we can help.


Short Term Personal Loans

Need a small loan but want to minimise the term to limit the costs then this is that loan.

You can borrow from $200 up to $1000 and a reduced fee and fair rate based on term and risk. 

Advantages:
Lower setup fees than standard loans due to less complicated criteria.
Fixed repayments and term so you know exactly what is required to pay the loan off.
Competitive interest rates.
Rapid approval and access to funds.* 

* Approval and funds usually within 2 hours within normal business hours of Mon-Friday 9am to 5pm  

Account Requirements:
Must have a steady reliable income.
We will require bank statements as a responsible lender, but we do have a rapid method of getting them to make it faster.
Security preferred but decided upon a case by case basis.

Flexi-credit accounts

Our new $500 and $1000 dollar flexi-credit accounts are affordable and provide the ultimate in flexible lending.

You can pay back and borrow as often as you like within your credit limit.

Advantages:
Once you have an account you can access funds within minutes* 

If you pay the account off there is no ongoing fee until you use it again.
Competitive interest rates.
Low withdrawal fees. 

* Funds only available up to credit limit, account must not be in arrears, Mon-Friday 9am to 5pm 

Account Requirements:
Must have a steady reliable income.
We will require bank statements as a responsible lender, but we do have a rapid method of getting them to make it faster.
Must be 100% secured (we prefer vehicles over household chattles).
Mandatory Payment Protection Insurance*  

* Payment Protection Insurance is charged at 0.67% per month and covers Life, Sickness and Redundancy   

Special Flex-Account Fees/Rates/Limits:

$500.00 Limit:
One off fee of $150 for setup and documentation.
Interest rate of 19.95% per annum.
Approximately 12 Months to repay if you stop borrowing.
Other Fees can be found on our Fees Page.

$1000.00 Limit:
One off fee of $200 for setup and documentation.
Interest rate of 18.95% per annum.
Approximately 24 Months to repay if you stop borrowing.
Other Fees can be found on our Fees Page.

Click here for more infomation on our Flexi-Credit service

Bad Credit

Sometimes we here at Chasmont like giving second chances to those willing to prove that they can get it right.  If you have bad credit, but a good income and good security then apply and talk to us.

You may pay a higher interest rate* for your first loan but once you prove you can be trusted then we can treat you like a low risk customer and you can get all the financial saving that go with it.

* We don't think it's fair that our low risk customers pay for the risks associated with a high risk loan, so we charge accordingly. 


Early Repayment

We never charge early repayment penalties as we think it is unfair to penalise good payers!  Whether you choose to pay extra each payment or pay a lump sum you will save on interest and costs.


Payment Protection Insurance

Chasmont has negotiated its own unique Payment Protection Insurance (PPI).

If you feel you want that little bit of extra cover then talk to us.  You will be surprised how little it costs.

Our Cover:

Full Cover for people in full time employment (over 20 hrs per week)

12 Months Redundancy Cover up to $10,000.
Injury and Illness cover after 1 week off work backdated to day one.
Life and Terminal Illness.

Life Cover

Pre-existing Conditions:

Cover from day one if you have not sought treatment or medical advice in the 6 months prior to the loan date. 

For the full terms and conditions and cover details please contact us.

With all applications, Rates, Approval and Lending Limits Apply, Payment Protection Insurance may be required for approval for lowest rates.

Terms, Rates & Costs

General Information
Account Size: $200-$1000
Terms Available: Up to 1 year

Interest Rates (only apply to short term not standard term accounts)
(Low Risk - contact us for high risk rates)
$200.00 - $400.00: 24.95%
$500.00: 23.95%
$600.00: 22.95%
$700.00: 21.95%
$800.00: 20.95%
$900.00: 19.95%
$1,000.00: 18.95%

Extablishment/Booking Fee
$200.00: $75.00
$300.00: $95.00
$400.00: $105.00
$500.00: $115.00
$600.00: $125.00
$700.00: $175.00
$800.00: $175.00
$900.00: $175.00
$1,000.00: $175.00

Other Account Fees
Security Search and Registration Fee: $10.00

Monthly Account Software and Statement Charge
Statement and Monthly Account Fee: $3.50

Default Interest Rate
Default interest is charged at 10% over the standard rate

Letter and General Account Fees – All Accounts
Reminder Letter $5.00
Payment Amendment $10.00
Payment Default Letter $15.00
Account in Default Letter $15.00
Security Amendment Documentation Fee $30.00
Repossession Warning Notice $30.00
Repossession Warrant $90.00
Chattel Check Cost $45.00