Opt in at loan signup and have a payment-free window over Christmas and New Year. Your regular payments across the year are slightly higher in exchange for no payments during the window.
Payment Holiday is an opt-in feature of Movogo Finance loans, built around the Christmas and New Year window. If you select it at signup, your loan schedule is structured so those weeks are payment-free. Your regular payments across the rest of the year are slightly higher to compensate.
It's a scheduling choice, not a discount. You pay the same loan in the same term. The schedule just prioritises cashflow when end-of-year pressure tends to hit hardest. The window is fixed (Christmas and New Year); what you choose is how many weeks of that window you want off.
Payment Holiday doesn't reduce what you owe. It reshuffles the schedule so the end-of-year weeks are payment-free, with the rest of the year's payments set slightly higher to cover it.
Your regular payment is higher. The longer the holiday you choose at signup, the higher your regular payment across the year. Your exact figure is calculated during your application and shown in your loan disclosure before you sign.
Interest keeps accruing throughout the loan. Interest builds on your outstanding balance across the whole loan term, including during the Christmas and New Year window. That interest is already baked into your regular payment amount when we calculate your schedule at signup.
Affordability check. As part of your credit assessment we check that the higher regular payment is affordable for your situation. If it isn't, Payment Holiday won't be offered on your loan.
No fee to select Payment Holiday at signup. A variation fee may apply if you later want to remove or change the feature on your loan. See the finance information page for the latest list of fees.
We normally prefer to opt in at signup rather than add it later, so the schedule is right from day one. But if you want to add it to an existing loan, give us a call. We'll assess each request on a case-by-case basis.
You choose at signup, typically between one and four weeks across the Christmas and New Year window. The more weeks you pick, the higher your regular payment across the year.
It depends on your loan amount, term, interest rate, and the number of weeks of holiday you've chosen. Your exact figures are calculated during your application and shown in your loan disclosure before you sign, so you see the number before you commit.
As part of your credit assessment we check that the higher regular payment is comfortably affordable for your situation. If it isn't, Payment Holiday won't be offered on your loan. The loan itself can still go ahead at the standard payment amount.
Yes. Interest keeps building on your outstanding balance throughout the loan term, including during the Christmas and New Year holiday weeks. That interest is already baked into your regular payment amount when we calculate your schedule at signup.
No fee to select Payment Holiday at signup. A variation fee may apply if you later want to remove or change the feature on your loan. See the finance information page for the latest list of fees.
No. Payment Holiday is a scheduling feature you opt into at loan signup, knowing in advance that Christmas and New Year will be payment-free. A hardship variation is for when you can't realistically keep up with your payments due to a change in your circumstances. They're different processes. If you're in hardship, call us.
No. Payment Holiday is part of your agreed loan schedule, so the Christmas and New Year weeks aren't counted as missed payments. You've paid for those weeks through the slightly higher regular payments across the rest of the year.
Possibly. Each request is assessed individually, and a variation fee may apply. Removing it would typically lower your regular payment amount but we'd need to redo your loan schedule to suit. Call us to talk it through.
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PO Box 90277
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Auckland, 1142
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(09) 913 8560
Movogo Finance Limited. New Zealand Company Number 9357507. NZBN 9429052988677. FSP1011510. Member of Financial Services Complaints Limited (FSCL) for dispute resolution. All estimates shown on this site are indicative and are not an offer of credit or insurance. Any loan is subject to credit approval, responsible lending assessment, and standard terms and conditions. Waivers are loan features provided in-house by Movogo Finance Limited and are governed by your loan agreement. Insurance-related products are underwritten by Provident Insurance and are subject to the relevant policy document. Please read all documents carefully before signing.
