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East Bay Finance Interest Rates

Do you want to borrow some cash for your personal or business needs? Are you worried about the interest rates of your borrowing? East Bay Finance we offer personal & business loans at highly competitive interest rates. Our interest rates range from 15.95% - 33% per annum. We use a range of simple criteria to decide the rates that we charge on your loan. These criteria include:

How Much You Want To Borrow?
Before deciding the interest rate to charge you, we evaluate the amount that you want to borrow. Often, higher borrowing amount will accrue a higher interest rate than a lower borrowing amount. However, the rates charged will also depend on other factors.

The Term of Your Loan
The term of your loan can also have an effect on the interest rate that we charge on your loan. Usually, we will charge a lower interest rate on short-term loans and a higher interest rate on a long-term loan. Both of these options are convenient depending on your financial situation. Choosing a short-term loan will earn you a lower interest rate but may put you in a financial stress if you are unable to pay for the higher instalments. Despite the relatively high-interest rate, long term loans are more comfortable to pay and will give you time to readjust financially.

Your Income
In some cases, we use your income to determine the interest rates to charge on your loan. In such cases, the higher your income, the lower your interest rate. However, this will also depend on other factors such as the amount that you want to borrow and the term of your loan.

Your Other Financial Commitments
We often use the ratio of your debt to that of your income to determine the appropriate loan interest rate. Having too much outstanding debt compared to your income will result in a higher interest rate while a lower outstanding debt will earn you a lower interest rate. Too much of the outstanding debt compared to your income may lead to your loan application being denied.

Your Credit History
Most often, we use your credit history by examining your credit score to determine the interest rate to charge on your loan. A higher credit score enables you to be offered different interest rates. You may be offered u a lower interest rate on your loan while a lower credit score will earn you a much higher interest rate.

What Security You Offer
At East Bay Finance, a security of a much higher value on your loan will earn you a lower interest rate.

Overall, we evaluate all of the above factors simultaneously to determine the appropriate interest rate that we will charge you on your loan. For more information or to speak to someone about your lending needs contact us on 0800 432 742 or submit your loan application online today!

To understand the rate that will apply to you, please call 0800 432 742.

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East Bay Finance do not source loans for a period of 61 days or less.
109 Lyndon Road East, Hastings 4122 New Zealand
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