Our personal loan terms range from 4 weeks to 28 weeks, and you need to choose the loan term depending on factors like your repayment ability and cash flow needs. The longer the term is, the lower your repayments will be over time, but the more interest you’ll pay. The shorter it is, the higher your repayments will be. This means you’ll pay less interest over time, because there will be less time for interest to be charged.
If you fail or refuse to make repayment(s) as per your loan agreement then we may do any one or all of the following:
- Adding default fees and default interest charges to your loan balance;
- Attempting direct debit transaction(s) for the outstanding arrears amount from your nominated bank account at any date/time after the default date;
- Reporting your debt/default to credit reporting agencies;
- Contacting your employer to lodge a wage deduction request;
- Employing a debt collection agency to recover the debt. The debt collection agency will also add a collection fee to your outstanding balance;
- Using any other rights and powers under this Agreement.
In the event that you find yourself experiencing financial difficulties and suspect that you will be unable to make your repayments on the due date, simply contact us on 0800 7333 28 (Seed 2U) and we will consider your circumstances as we look to find a suitable solution that works for you.
Yes – We encourage our clients to repay their Seed Cash loan as early as possible! We will only charge you an additional fee of of $20.00 (creditor’s early repayment administration fee for any amendment in your loan contract and payment terms) with no further prepayment penalty or premium. Please note that Interest is accrued on your loan daily, based on the outstanding balance; therefore under some circumstances paying your loan in advance means you will incur less interest. Simply contact our customer service team on 0800 7333 28 (Seed 2U) for a final balance figure on your loan.
Repaying your loan to Seed Cash is as easy as pie. We’ll direct debit your account in the evening of your dated installment for the amount according to the repayment schedule you’ve chosen. Make sure you’ve got money in there on the specified day(s) or until debited successfully to avoid default penalties.
In the event that you received a loan approval text message from us, but you haven’t received your money, the reason is likely to be:
- Your bank has not yet implemented systems capable of enabling same day payments/clearance; OR
- Your application was approved after 4:00PM, then it is likely that the bank will process the funds to show in your account on the next business day; OR
- Your bank might have a delay in showing the payment on your statement.
If you are unsure and the payment still hasn’t appeared after 120 minutes, please contact your bank for more information.
We take pride in providing super-fast service and endeavour to complete all loan applications within 24 hours.
We transfer the money directly into your designated bank account (only under your name).
Once your loan has been approved, you will find the funds in your account within 24 hours.
We also offer an instant payment option; where money can be in your bank account in 15~30 minutes upon loan approval. Instant payment option is only available if you are banking with one of the following major NZ banks: ANZ, BNZ, ASB, TSB, KIWI Bank, Westpac. (instant payment fee applies)
Our fee structure is transparent. We provide an online Loan Calculator to help determine the cost of your loan. Our Calculator gives you exact repayment amounts for the details you enter. You can enter various amounts and repayment dates prior to proceeding with a loan application. This way you can see what you will be paying back before you apply. Please see Our Charges section for an example of a typical Seed Cash short-term loan.
Please contact our friendly customer service team on 0800 7333 28 (Seed 2U) between 9:00AM and 5:30PM Monday to Friday – one of our staff will happily assist you to re-register your Seed Cash account login under your new email address.
Here at Seed Cash, we provide our clients with loans up to $5000, depending on your net income from paid employment. The maximum amount that you can borrow is determined by our affordability calculations, which take into account the repayment amounts after fees have been added and the daily interest that will be accumulated throughout the period of the loan.
There are a number of reasons that may result in your Seed Cash loan application being declined. These include (but not limited-to):
- You provided false, fraudulent or misleading information, or withholding relevant information;
- You are not over 18 years old;
- You are not currently residing in New Zealand;
- You do not have a valid photo ID (any passport or NZ driving license accepted);
- You are not an NZ/AU Resident/Citizen or hold a valid work visa;
- You are currently not in full-time/part-time employment;
- You have not received a minimum twelve weeks of payroll in your bank account with your current employer;
- You are currently not earning at least $300 per week;
- You have an adverse or poor credit history;
- Your financial conduct, as shown on your bank statement, indicating that you have budgetary or existing debt problems;
- You are currently bankrupt;
- We were not able to verify your personal information including employment;
- You do not have an active bank account with at least three regular payroll transactions;
- You have provided someone else’s bank account or we were not able to verify your bank account information;
- You do not have access to the internet;
- You do not have an active and registered mobile number;
- You do not have an active email address.
It’s surprisingly easy to apply for a personal loan with Seed Cash. Your loan application can be sent in 4 different ways:
- Website: Fill-up and submit our online loan application form and we will get in touch with you to go through the application.
- Mobile App: If you are apple user, go to Apple appstore, and search our ‘SeedCash’ app and download it. If you are an Android user, go to Google playstore and search our ‘SeedCash’ app and download it. Click into our app, complete the application and send the application to us.
- SMS: You can apply for a Seed Cash loan by sending a FREE SMS to 5808 in a specific message format. For example, If u want $5000 and your personal Seed Cash PIN code is ABC12D, then send the following free SMS to 5808: “Seed Loan $5000 ABC12D“. (only available for returning customers)
- Phone: You can contact our office on 0800 733 328 between the hours of 9:00AM and 5:30PM (Monday to Friday) and one of our friendly staff member will assist you to lodge a loan application recalling your previous application details. (only available for returning customers)
Be sure to read the Terms and Conditions before sending your loan application.
Only in the event that we are unable to verify the information provided to us in your loan application. We may simply require you to fax or scan and email supporting documents, so we can complete the loan approval process.
Yes. Seed Cash is committed to responsible personal lending. We aim to only lend to people who we believe can afford to repay us as agreed. However if you have a bad credit rating we may still lend to you. Depending on your financial circumstances. (subject to approval)
Yes – you will need to provide us an active New Zealand bank account that is under your name. This bank account should be the one that your wages/salary is paid into, as it will help us to determine your loan repayment ability and aid your employment verification process.
No – we do not request collateral or guarantors.
Seed Cash typically provides short-term cash loan if you meet the following (but not limited-to) requirements:
- You need to be over 18 years old;
- You need to be currently residing in New Zealand;
- You need to have a valid photo ID (any passport or NZ driving license accepted);
- You need to be a NZ/AU Resident/Citizen or hold a valid work visa;
- You need to be working full-time/part-time for at least three months with your current employer;
- You need to be earning at least $300 per week;
- You need to have an active bank account with at least three regular payroll transactions;
- You need to have an access to internet as our loan application process is 100% online;
- You need to have an access to your internet banking (optional if you are seeking a loan of less than $1500);
- You need to have an active and registered mobile number;
- You need to have an active email address.
If you do not fulfill all above requirements then you may not qualify for a Seed Cash loan – if you’d like us to explain why, please contact us.
Yes. Rollovers and additional loans can often lead to a debt spiral that can be hard to recover from. By not allowing these types of loans, we help you maintain your financial welfare.
If you happen to change your mind and no longer wish to proceed with the loan, you have five working days to return the loan proceeds to Seed Cash and cancel your Loan Agreement. In doing so, we will only charge you the loan balance that include loan principal, establishment fee and interest accrued up until the funds are returned. Please refer to your Loan Agreement for a full statement of your rights and the Terms & Conditions of the loan.
We aren’t open in the weekends or on public holidays. This means your loan won’t be processed until the next working day. We aren’t open on these days as payroll officers aren’t available to confirm details and New Zealand banks often cannot process the payments.
Yes, your partner can apply for Seed Cash loan, using the same account as long as your bank statement shows sufficient income, to support application.
If you know you’re already experiencing sustained problems meeting existing financial commitments, please decide carefully about applying for a Seed Cash loan as additional lending of any sort will only add to your financial commitments. We recommend instead contacting Citizens Advice Bureau (CAB) or Financial Capability Trust for budgeting advice.
At Seed Cash bad credit can affect whether you qualify for a loan, but it won’t rule you out. Bad credit personal loans are offered to those who can demonstrate the capacity to meet their loan repayments and future creditworthiness. Seed Cash runs a credit check. However, don’t worry if you have a bad credit history as we may still lend to you. Seed Cash considers your overall situation rather than picking up your previous bad credit history.
As a responsible lender, Seed Cash believe you should not have too many short-term loans at a time. If you can demonstrate the capacity to meet loan repayments and future creditworthiness then we may ask you to consolidate your current short-term loans of up to $5000 with us to ease up your debt repayments. If we realize that you’re already experiencing sustained problems meeting existing financial commitments then we would decline your loan application as it may lead you to a debt spiral that can be hard to recover from.
Our “fax-less”or “paperless” loans are fast, convenient and easy! The loan application is simply filled out and submitted online. In the event that we do encounter any difficulties verifying the information provided, we may simply require you to fax or scan supporting documents to us.
The documents requested may be one or all of the following:
- Scan copy of your NZ driver licence.
- Scan copy of passport along with the visa page (if applicable).
- Most recent bank statement (in pdf format) showing the past 3 months transactions.
Our customer service team is available between 9:00am and 5:30pm Monday to Friday on 0800 733 328 (excluding public holidays).
Alternatively you can also email us at: firstname.lastname@example.org. We always aim to respond to any email queries within 24 hours during the week. If you contact us over the weekend or on a public holiday, we’ll be in touch with you on the very next business day.
In the event that you believe that you will be unable to meet your repayments, please contact us immediately either via phone or email and discuss your circumstances with one of our helpful customer service team, so we are able to find an appropriate payment agreement that works for both parties.
If you suspect that you are going to have insufficient funds in your bank account on your repayment date, you must contact us immediately either via phone or email to put a halt on the direct debit. Contact must be made at least two business days before the due date, otherwise we will be unable to stop the direct debit, as it will have already been processed by your bank.