A reward for keeping your home loan account with Dosh, year after year.
Our Streak Loyalty Reward Programme entitles you, a Dosh customer with an active loan account, to a cash payment equal to 0.12% of your average loan balance at the anniversary date of your loan drawdown date. We call this payment your Streak Reward.
Who is eligible to earn a Streak Reward?
To be eligible, you just need to be accepted and approved for a residential finance bank loan by one of our third-party bank lender partners (Lender) through Dosh (an Eligible Loan), and for every full year you keep your Eligible Loan with Dosh and comply with the requirements under the terms of your loan, the Dosh Terms and Conditions, and these Streak Loyalty Rewards Programme terms and conditions, we will pay you the 0.12% Streak Reward on the loan balance for that year at your anniversary (the Eligibility Criteria).
You will not be entitled to a Streak Reward, or any further Streak Reward, if:
- you refix your loan or change your repayments directly with the Lender;
- you fail to make your loan repayments and any payment is more than 90 days overdue;
- you withdraw any required consent or approval for Dosh to act on your behalf with the Lender pursuant to the Dosh Terms and Conditions;
- you are otherwise in breach of the Dosh Terms and Conditions that relate to your loan account or the Lender has notified us that you are in breach of the Lender’s loan documents; or
- you cease to be a Dosh loan account customer for any reason (for example, if you seek financial advice from the Lender, and/or deal directly with the Lender).
If you don’t meet the above Eligibility Criteria, or if you only partially meet the Eligibility Criteria during any year, you will not be entitled to receive any Streak Reward.
When does the Streak Loyalty Programme start?
The Streak Loyalty Rewards Programme launches on 4th March 2025 and will be available to all successful applicants who enter into an Eligible Loan through Dosh. Successful applicants will be entitled to Streak Rewards during the term of their Eligible Loan, subject to these terms and conditions and in particular the termination rights set out below.
How is the payment made?
There is no application process. Your Streak Reward will be made automatically into your Dosh everyday account on the 3rd business day after the anniversary date of your loan draw down date provided you have met the Eligibility Criteria.
Streak payments are calculated each year as follows: (opening balance + closing balance) / 2 x 0.12% = Streak Reward.
The table below shows the Streak Reward calculation of selected years for illustrative purposes only. The example is based on a $600,000 loan with 5.19% interest rates paid back over 30 years. Actual Streak Reward earned will vary by size of loan, term, repayments and interest rate.
In this example, the total Streak Reward over the 30 years is $13,487.04.
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The Streak Reward is applied to each Eligible Loan account you have with Dosh.
Who is providing the Streak Loyalty Rewards Programme?
The Streak Loyalty Rewards Programme is offered by Dosh and Dosh is solely responsible for the payment of any Streak Rewards. The Lender has no obligations or liability to you in relation to the Streak Loyalty Rewards Programme.
Our right to withdraw or change the Streak Loyalty Rewards Programme
Dosh may withdraw or change the Streak Loyalty Rewards Programme at any time, if:
- the terms of our arrangement with the Lender (including our commission structure) change, expire or terminate;
- we sell the whole or part of our business, merge with another entity (or entities), or undergo any other significant change in the ownership or control of our business;
- we need to cancel or amend the terms to comply with any law or regulatory guidance.
We will provide you with reasonable written notice of our decision to withdraw, or materially change the terms of, the Streak Loyalty Rewards Programme, unless such change or withdrawal is required immediately to comply with law.
What happens if Dosh withdraws the Streak Loyalty Rewards Programme?
If we withdraw the Streak Loyalty Rewards Programme for any reason we will pay you out a pro-rata amount of the eligible Streak Reward that you have accrued up to the date of the withdrawal, provided you meet the Eligibility Criteria at the withdrawal date.
What happens if we make an error when making a reward payment? We will use reasonable endeavours to ensure that our systems and processes calculate and apply the Streak Reward accurately. However, sometimes errors do occur, for example due to the operation of manual processes, changes to our systems and processes, and things that are beyond our knowledge or reasonable control. Where that happens, without limiting any rights you may have under consumer law in relation to the error, we will as soon as practicable after the error has been identified, make any adjustments required to put you in the same position as if we had applied the correct amount or made the correct calculation initially, and take any other appropriate action required to correct the error.
What other legal information should I know?
These Streak Loyalty Rewards Programme Term sand Conditions are an agreement between you and the MCA Investments Ltd company which manages your Dosh loan account. Any reference to Dosh in these terms refers to MCA Investments Ltd.
Any capitalised terms used in these terms and conditions that are not defined in context have the meaning given to them in the Dosh Terms and Conditions.
If you have any questions or complaints about the Streak Loyalty Rewards Programme, you should contact Dosh at loans@dosh.nz
The Streak Loyalty Rewards Programme is governed by New Zealand law and the courts of New Zealand have exclusive jurisdiction to determine any dispute relating to it.
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