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Nifty offers medium term secured loans from $2,500 up to $4,600. You will need to offer your vehicle as security to be eligible. As this loan is secured, it comes with the risk of losing your asset if you don’t repay the loan. Loan terms range from 9 to 24 months, and bad credit borrowers and Centrelink recipients can apply. The application process is quick and entirely online. This loan, however, is expensive. The interest rate for a secured medium loan up to $4,600 is 47.8% p.a., while the comparison rate is 65.86% p.a. This means that for a loan of $2,500, with a 24 month term, the total amount payable is $4,509.44.
$4,600
Maximum loan amount
9 to 24 months
Term of loan
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Product Name | Nifty Medium Loans |
---|---|
Minimum loan amount | $2,500 |
Maximum loan amount | $4,600 |
Loan term | 9 to 24 months |
If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support.
Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
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* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
A Nifty medium loan is a secured loan from $2,500 to $4,600. Because Nifty's medium loans are secured, applicants with less than perfect credit histories or who are on Centrelink are still considered. Types of security that Nifty accepts are cars, motorbikes, caravans or boats. Security must be equal to or surpass the value of the loan applied for. Borrowers should be aware that if they fail to meet the required payments on a loan, their asset could be repossessed.
Nifty is a 100% online lender, so its application process can be completed entirely online. Applications take a few minutes to complete, and 70% of applicants receive a response instantly. For those that don't receive an instant response, response time on applications only takes up to 60 minutes. Approved applicants will receive their funds the same or the next business day.
Nifty loans from $2,500 to $4,600 require an establishment fee of $400 and have a comparison rate of 65.86%. Loans from $4,600 to $4,600 have a variable establishment fee attached and a comparison rate of 47.8%.
The following features apply to Nifty medium loans:
Please be aware that other fees and charges may apply. Therefore, it's important to read through your loan's contract carefully.
In order to qualify, applicants must meet the following criteria:
To apply for a Nifty medium loan, click "Go to site" to submit an application. Before you apply, it's a good idea to have the following documentation to hand:
Please note that there are a number of similar lenders on the market, so it's a good idea to compare your options prior to submitting an application.