Credit Contracts and Consumer Finance Act 2003

Lender responsibilities - Publication of standard form contract terms and costs of borrowing

9K: Publication of costs of borrowing

You could also call this:

"Lenders must clearly show how much it costs to borrow money from them."

Illustration for Credit Contracts and Consumer Finance Act 2003

When you borrow money, you need to know how much it will cost. Every lender must make sure you can find this information easily. They must show their fees and interest rates clearly on their website or in their office. If a lender has a website, they must display their credit fees and interest rates on it. If they have an office, they must have a notice saying you can ask for this information for free. You can ask for this information at any time, and the lender must give it to you straight away. The lender can show their interest rates as a range, like 10-20%. They must make sure the information they give you is correct and easy to understand. You can find more information about this in the Credit Contracts and Consumer Finance Act 2003.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6501329.

This page was last updated on 1 January 2026 — View changes

Topics:

Money and consumer rights > Consumer protectionMoney and consumer rights > Banking and loans

9J: Publication of standard form contract terms, or

"Lenders must share their standard contract terms with the public for free."

9L: Extended meaning of business premises, or

"What 'business premises' means, including shops, stalls, and vehicles that sell goods on credit"

Part 1ALender responsibilities
Publication of standard form contract terms and costs of borrowing

9KPublication of costs of borrowing

Every creditor must ensure that information about all the costs of borrowing in relation to every class of consumer credit contract offered by that creditor is publicly available in accordance with this section.
Repealed
For the purposes of subsection (1),—
if the creditor has an Internet site, the creditor must display prominently and clearly on that site the creditor's credit fees, default fees, and annual rates of interest (and default interest charge rates) in relation to every class of consumer credit contract offered by that creditor; and
if the creditor operates from business premises that are accessible to the public, the creditor must display prominently and clearly on those premises a notice that a copy of the information about those credit fees, default fees, and rates is available on request (free of charge).

The creditor must, immediately after receiving the request of any person, supply a copy of the information referred to in subsection (1), free of charge, to that person (regardless of whether subsection (3) applies).
Information about rates of interest may be expressed by reference to a range.
Information made publicly available under this section must—
contain the prescribed information; and
be in the prescribed form (if any).

Notes

Section 9K: inserted, on 6 June 2015, by section 9 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).
Section 9K(1): amended, on 13 January 2020, by section 22(1) of the Regulatory Systems (Economic Development) Amendment Act 2019 (2019 No 62).
Section 9K(2): repealed, on 13 January 2020, by section 22(2) of the Regulatory Systems (Economic Development) Amendment Act 2019 (2019 No 62).
Section 9K(3)(a): amended, on 13 January 2020, by section 22(3) of the Regulatory Systems (Economic Development) Amendment Act 2019 (2019 No 62).