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Everything you need to know about interest free

Low upfront cost
No establishment or annual fees
One monthly bill


What are Interest Free Payments (IFPs)?

With One NZ’s Interest Free Payment (IFP) options, you can spread the cost of your new mobile phone or accessory in monthly installments over a 12, 24, or 36 month term depending on the item.

For mobile phones, IFP is available on phones valued from $149 and above, with a minimum $99 upfront deposit. For accessories, these are available on IFP over 12 or 24 month term options with a variable deposit amount depending on the accessory. There are no further establishment fees or annual fees, as long as you continue to pay your bill on time.

How do I pay for my new phone or accessory on interest free?

The Interest Free Payment amount is added to your monthly bill, which is emailed to you every month. You can also view your bill from the My One NZ app.

The easiest way to pay your bill is by setting up a direct debit with a debit/credit card in the My One NZ app. This can be found under the Essentials section in the app.

It should take around a minute to setup, and then going forward your bill will be charged automatically every month to your nominated card. Setting up a direct debit from a credit/debit card also means you won’t have to pay the 2% convenience charge that applies to one-off card payments.

How can I keep track of my Interest Free Payments?

Your monthly One NZ bill includes all the info you need to keep track of your IFP.

If you bought a mobile phone on interest free before 8 December 2022, you’ll be able to find your IFP under the ‘Your plan charges for this month’ section which includes:

A. What you need to pay every month for your IFP (less any interest free discounts if applicable).

B. How many payments are required to pay off the device on your interest free term

C. How much is remaining to be paid on the device over your interest free term (excluding any interest free discounts that may be applied).

D. Any interest free discount credit you are receiving per month, if applicable.

Please note, the GST component of the discount is incorporated into the GST row on your bill.

IFP Connection
IFP Connection

If you buy any interest free devices or accessories after 8 December 2022 in a One NZ store, you’ll be able to find all the details of your IFP under the ‘INTEREST FREE PAYMENTS’ section.

IFP Account
IFP Account Level

How do the interest free discounts work?

If applicable, the interest free discount you receive will show on your bill as a monthly credit for the duration of the agreed IFP term that you signed up to.

The credit is listed as ‘Interest Free discount’ on your bill and this figure excludes GST of 15%.

The GST component of the discount is incorporated into the GST row on your bill. For example, an interest free discount of $5 per month will appear as a credit of $4.25 under ‘Interest Free Discount’; and the GST of 75 cents is added to the GST column under ‘GST @ Standard Rate’.

There are a number of potential scenarios which may cause you to stop receiving your monthly interest free discount including (but not limited to):

  • Changing to an ineligible plan (e.g. One NZ Prepay), or change of account holder
  • Cancel/terminating your plan or leaving One NZ before the interest free term has been completed
  • Disconnection of your account for any reason (e.g. breach of Fair Use)

The discount will only apply if you remain on your plan for the whole billing month. If you make any of the changes listed above during your billing month, the interest free discount will not apply for that particular month, and will not be applied to your next bill.

If this occurs, you will need to pay back the remaining balance of the device without any interest free discount. In other words, you are entitled to receive the full interest free discount if you remain for the entire interest free term you signed up to (12, 24, or 36 months). If you exit your term early, you are not entitled to receive any remaining interest free discount you would have otherwise received, from that point onwards.

Do you have any other fees?

After paying the applicable deposit amount there are no more additional administration/annual fees, as long you continue to make your monthly payments on time. Standard late account payment fees would still apply if you miss a monthly payment. For more information, you can read our late payment fee policy here.

If you bought your mobile phone on the $1 a month promotion and you downtrade or transfer to an ineligible plan, you will incur a plan change fee.

Can I add more than one Interest Free Payment per account?

Yes, you can add more than one IFP per customer account when you purchase in-store and meet our eligibility and credit criteria.

If you have a Pay Monthly plan, you can get one mobile phone plus accessories on interest free. If you’re on a tablet plan, you can get one tablet plus other accessories (excluding additional tablets) on interest free.

To add multiple IFPs to your customer account, you’ll also need to pass a credit check. You can chat with any of our team in-store to find out more.

What happens if I cancel my mobile/tablet plan or want to end my Interest Free Payment early?

In both scenarios, you’ll need to pay back the remaining balance of your mobile phone or accessory. The amount required to be paid back would exclude any Interest Free discount that you would have otherwise been entitled to if you remained for the full interest free term.

If you leave One NZ or move to One NZ Prepay, you will also have to pay any other remaining charges owing on your account.

Is there anything else I need to know?

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