Detail your debt

Write a list of:

  • What you owe.

  • What the interest rate is.

  • How much the regular repayments are.

  • What you’re going to pay off first, and how much extra you can put towards it. Use the Sorted debt calculator to see how paying off more can work out for you.

Get rid of that debt

There are a few methods of paying off debt, so the trick is to find the one that works for you. This is usually the way to go.

  • If you pay off the highest interest debt first (like credit cards), you could save the most money.

  • If you pay off the debt with the least amount owing first, you may find yourself motivated to keep going with the bigger ones.

  • You might feel better if you pay off loans to friends and family first, but you’ll end up paying more on the debt that has high interest.

More than you can handle?

If the amount you’ve set aside in your budget doesn’t cover all your minimum repayments, it might help to:

  • Consolidate all your debt into one understandable, manageable personal loan.

  • Transfer the balance of your credit card to a Kiwibank card — you’ll get six months at a reduced interest rate.

  • If you’re struggling to meet your minimum repayments, or you know that your situation is about to get harder, contact us – the sooner, the better. Give us a call on 0800 113 355.


Whatever you do, make sure you’re paying at least the minimum repayments on each of your loans or credit cards every payment cycle.

Here's some stuff that can help:

When you need to borrow

Debt doesn't always have to be a dirty word. There’ll be times in your life when you’ll need to borrow in order to achieve your goals, like buying a house. Knowing when it’s okay to go into debt, and what types of borrowing are available to you, is really important. Check out our Guide to debt for all the types of lending we can help with.


Don’t settle for just clearing debt, aim for getting to good with your money.

Please note

This is intended as general information only. It does not take into account your financial situation and goals and is not personal advice. For advice about your particular circumstances please see a financial adviser, or make an appointment with a Kiwi Wealth Adviser. A disclosure statement required under the Financial Advisers Act 2008 is available, free of charge, from your Kiwi Wealth Adviser or on request by calling 0800 529 325.

Balance transfer

Kiwibank lending criteria and credit limits apply. This offer is not available on existing Kiwibank credit card balances or for transfers to any Kiwibank business credit cards. Interest will be charged on the amount you transfer from the date the transfer is processed. After 6 months your balance transfer will be treated as a purchase and our standard interest rate for purchases will apply. That rate will also apply to any new purchases you make on your card. Standard interest rates are subject to change. If you have more than one balance transfer, payments applied to balance transfers will be applied to the balance transfer with the lowest interest rate first. You must transfer a minimum balance of at least $200 from another bank credit or store card.

Personal Loans

Personal loans and car loans are provided by Latitude Financial Services Limited (“Latitude”). Kiwibank receives a commission for referring a personal loan to Latitude. Latitude’s lending criteria, terms and conditions, and fees apply.