Ways to borrow

Create a budget and take a look at your spending and see if there’s any way you can squeeze out some savings, so that the next time you’re hit with an unexpected expense, you can dip into savings rather than slip into debt. The general rule of thumb for an emergency fund is to aim to be able to cover around three months' worth of expenses. Our bills calculator will help you work out your expenses.

An overdraft could be a handy financial backstop, to help make sure you’re not charged dishonour fees if your bank account dips into the red. If you’re approved for an overdraft, we’ll agree on an overdraft limit and you'll be able to access the overdraft through your everyday account.

A low interest credit card could be a good way to deal with an unexpected expense. Our Low Rate Visa comes with our lowest purchase interest rate, the Zero Visa has no annual account fee, and the Platinum Visa is a low-fee card with a higher credit limit and built-in travel insurance. To pay off your balance faster, try to pay more than the minimum monthly repayments, as this will save you interest.

If you’re a tertiary student, a recent graduate or are doing an apprenticeship, you can apply for a low-rate overdraft of up to $1,000 in your first year and up to $2,000 in your second and subsequent years with our Tertiary Pack, or up to $2,000 with our Graduate Pack.

An overdraft provides a flexible financial backstop to help you deal with unexpected expenses. Your overdraft will have an agreed overdraft limit, and you can access the overdraft through your everyday account.There are no fixed repayments and you can spend within your agreed overdraft limit.

Depending on your circumstances, a low interest credit card could be a good way to deal with an unexpected expense. Kiwibank has a range of credit cards to suit different circumstances and spending habits. Whichever card you choose, make sure you can make at least the minimum monthly repayments, to avoid extra interest and charges.

Once you're back on an even keel and have paid off any debt, try to get ahead of any future financial emergencies. Put the money that was going on debt repayment into a savings account and start building up an emergency fund.

If you’re financially squeezed, take a look at your spending and see if there’s anywhere you can cut back. Our savings calculator can help you with this. We’ve also got a bills calculator to help you work out your regular expenses. This will help you create a budget and work out if you can start saving.

Insurance is a good way to financially protect yourself, your loved ones and your things from life’s hiccups. We’ve got tools and calculators to help you work out what Life & Living, house, contents, and car cover you might need.

Work towards building an emergency fund – aim to be able to cover around three months’ worth of expenses. Consider a separate savings account that isn’t linked to your EFTPOS or debit card, and so it’s harder to dip into. Set up a direct debit or automatic payment so your savings happen automatically.

Keeping track of your spending and knowing where your money is going is a great way to get on top of your day-to-day finances. You can do this by going through your recent transactions on internet banking or the mobile app. Our bills calculator can help you work out your regular expenses – the first step in creating a budget.

Rather than have all of your money sitting in one account, consider setting up a few accounts to cater to all of your needs. For example, one for bills, one for everyday spending and one for saving. Compare the fees, interest rates and features of the accounts we have on offer to make sure you’ve got the best options for your circumstances.

Set up direct debits or automatic payments so you’re never late paying a bill. Set them up to go out the day after your pay day, so you know there’ll always be enough in your account to cover them. Alternatively, you could use PayStream, which allows you to split your pay into different accounts.

Our Sweep tool is helpful if money is a bit tight and you’re worried there might be times automatic payments or direct debits might be dishonoured. With Sweep, if there’s not enough money in your transaction account for an upcoming payment, Sweep will take money from a second account (that you nominate) to cover the payment.

Credit cards are a handy way to pay for everyday things, but you need to manage them well. Ideally, you’d be able to pay off your balance in full each month – that way you’ll avoid paying interest on purchases. Plus if you take one of our Airpoints credit cards you can earn rewards on your everyday spend.

Ideally, you'll have saved an emergency fund, but if your savings can't cope with tough times or unexpected expenses, you could consider getting an authorised overdraft. You'll be given an overdraft and an agreed limit, which you can access through your transaction account. Minimise the amount of interest you pay on your overdraft by repaying it as quickly as you can.