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Interest charges are calculated by multiplying the unpaid principal at the end of the day by a daily interest rate. The daily interest rate is calculated by dividing the annual interest rate by 365.


  • Our annual interest rate is 49.95%pa.

  • Interest is charged daily at 0.13% on the unpaid initial loan balance amount.

  • Interest is not compounding.

  • This interest rate will remain the same for the term (life) of this loan.

  • Each loan repayment you make will repay part of the principal loan amount plus interest and any fees incurred.

  • The unpaid principal amount will get lower as you make repayments, providing you stick to the repayment schedule until your loan is repaid in full.

  • Interest charges are applied to your loan with CWL on the scheduled repayment days.


Fee TypeAmount ChargedCharge Conditions
Establishment/Refinancing$125.00 New Customers

$115 Returning Customers

Applied to all loans. Added to the borrowed amount to become the unpaid initial loan balance. Interest will be charged on the unpaid balance at the standard interest rate stated within the “credit details” section of this loan agreement.

This fee covers the costs associated with the application for credit, processing & considering the application, documenting the loan contract, and advancing the loan. It also includes any third-party costs incurred by CWL in creating your loan.

Schedule Change$12.00Charged immediately when a loan repayment schedule needs to be adjusted due to any of the following situations:

·         A direct debit repayment defaults and a subsequent manual repayment is not received within the allowed grace period.

·         A schedule change request is received.

·         Early settlement is requested.

·         When an unexpected manual repayment is received.

This fee covers the cost of CWL staff administering your inquiry, Re-calculating your loan repayment schedule, updating your CWL client record, and notifying you, by email, phone, or txt of this change.

Repayment Processing & Loan Administration$5.00



Covers CWL staff costs plus the associated third-party costs of actioning a scheduled direct debit through our third-party direct debit initiator Flo2Cash or processing a loan payment made manually. Covers the monthly account cost of staff administering your loan on the CWL loan management system. This fee is applied at each loan repayment date
Express Processing Fee. (Optional)$25.00Charged when selected during the online application process.



  • We may, at our sole discretion, refer the debt to our collection agency. In this event, you will be liable for any reasonable collection costs incurred.

  • CWL may send your account to its collection agency to collect any amount that is outstanding.

  • The collection agency will apply their own collection costs to your total debt and will attempt to contact you on our behalf to arrange a repayment arrangement.

  • CWL or our collection agency may load your default with credit reporting agencies, which may affect your future borrowing ability and/or your credit rating.


Free & confidential budgeting & financial capability advice is available by contacting MoneyTalks.co.nz

Contact Details:


Address: Level 7/330 Lambton Quay / Wellington 6011

Phone: 0800 345123


Free independent dispute & complaint resolution is available by contacting Financial Services Complaints Ltd (FSCL) Cantwait.com Limited is member 352 of FSCL

Contact Details:

Emailinfo@fscl.org.nz / complaints@fscl.org.nz

Address: Level 4/101 Lambton Quay / Wellington 6011

Phone: 0800 347257 or (04) 4723728