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Customer reviews for Loansmart are overwhelmingly positive, with many users praising the service quality and speed. Several customers highlight specific staff members for their professionalism and helpfulness. A recurring theme is the efficient and smooth loan process, often completed faster than expected. While most feedback is laudatory, one review mentions disappointing website terms.
Last updated 2 months ago
Loansmart is an online lending service based in New Zealand, operating as Loansmart Limited from an address in Auckland. The company is an Associate Member of the Financial Services Federation and holds a Full Class 2 Financial Advice Provider Licence issued by the Financial Markets Authority (FMA). It is also a member of Financial Services Complaints Ltd.
The business describes itself as a broker providing access to multiple lenders through a single application. It states that it offers fast personal loans, same day loans, cash loans, emergency loans, and unsecured loans up to $75,000*. The company highlights that it serves applicants with various credit situations, including those with low credit ratings or bad credit scores.
Loansmart outlines a process that includes a 3-minute application form, with the potential for approval within 1 hour and same-day payment subject to responsible lending checks and criteria. Applications are handled by licensed financial advisors, and the company emphasizes a paperless, online experience without the need to download, print, scan, or email documents.
Annual Interest Rates (AIR) are stated to range from 9.95% p.a. to 32.50% p.a., with loan terms ranging from 6 months to 84 months. The company notes that fees apply and provides an example: a $10,000 loan over 60 months at 14.95% includes a Lender Establishment Fee and a Loansmart fee, with a specified total amount payable and an illustrative APR. All loans are arranged by licensed financial advisors with affordability and long-term financial wellbeing considered.
The company references its status as an FSF member and commitment to responsible lending and borrower wellbeing. It provides links to a Responsible Lending Guidelines page, a Privacy Declaration, and a Responsible Lending Code. It also displays a Financial Services Complaints Ltd number and an FMA license number on its site.
Customer support is available by phone at 0800 255 155 during weekdays from 8:00AM to 5:00PM. The website includes a loans calculator, guides, and a section for 5-star reviews. Physical address details list the office at 33 Broadway, Newmarket, Auckland 1023, with additional regional labels such as Loans Auckland, Loans Hamilton, Loans New Plymouth, Loans Wellington, Loans Christchurch, and Loans Dunedin. An email address ([email protected]) and multiple social media links are also provided.