Finance companies have in the past gained a reputation for not paying people's money back but one is set to do exactly the opposite by paying its debentures out early.

UDC which remains owned by the ANZ bank after a takeover bid by Chinese company HNA was blocked by the Overseas Investment Office, plans to repay all its secured debenture investments by the end of this year.

An ANZ spokeswoman said the company had strong growth plans but was reviewing its funding structures to ensure it had the best options in place to suit that growth.

"The UDC debenture programme may not offer the flexibility required."

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It is a big change for New Zealand's largest finance company which has had a debenture programme in place for over 30 years.

It is no longer accepting new deposits and won't take rollovers from February 15 for existing debentures.

However existing call accounts and dealer reserve accounts would remain open and active, she said.

"UDC intends to repay all UDC Secured Investments in mid to late 2019.

"Any clients who have funds invested with UDC, or their fund manager will be contacted at the time the election pack is sent out."

The spokeswoman said it had a strong funding line through ANZ which would remain in place while it explores other forms of funding.

The bigger question for many of the 8000 debenture holders who have $922 million may be where to invest it now.

Bank term deposit rates remain low and other finance companies may not be attractive investments when they are not owned by the country's largest bank.