Nifty Small Loans

Borrow from $300 up to $2,000. Terms are short, up to 9 months, and high fees and charges apply.

Nifty's small loans are unsecured and available for short terms of 6 months to 9 months. Borrowing amounts range from $300 up to $2,000. Loans are available for good and bad credit applicants, as well as Centrelink recipients. Applications can be found online and take a few minutes to complete. This loan is expensive and comes with high fees and charges. Costs include an establishment fee of 20% the loan amount and a monthly fee of 4%. Payday loans are not a long-term financial solution and can lead to further debt. You should only apply for a payday loan in case of an emergency.

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Maximum loan amount

6 - 9 months

Term of loan

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Product NameNifty Small Loans
Minimum loan amount$300
Maximum loan amount$2,000
Loan term6 - 9 months
Costs20% of loan amount establishment fee + 4% of loan amount monthly

Are you struggling financially?

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.

⚠️ Warning about Borrowing

payday-warningDo 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:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

How does a Nifty small loan work?

A Nifty small loan is an unsecured loan of $300 to $2,000. Small loan applicants may still qualify for a loan from Nifty even if they have poor credit histories or receive Centrelink benefits. While Nifty does check credit scores, it will also access a read-only copy of 90 days of each borrower's bank statements to assess whether or not they can reasonably afford the loan. It doesn't make decisions based purely on credit histories.

Nifty is an online lender, so the whole application process is performed online. Online applications only take a few minutes, 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 either on the same day or the next business day.

Nifty small loans require an establishment fee of 20% and a monthly fee of 4% of the loan amount. Loan terms range from 6 months to 9 months. Nifty also provides secured medium loans, for people who require more funding.

Features of a small loan from Nifty

The following features apply to Nifty small loans:

  • Loan amount. Nifty small loans range from $300 to $2,000.
  • Loan term. Loans are available on terms of 6 months to 9 months.
  • Unsecured. No asset security is required for these loans.
  • 100% online. Apply online without the need to visit a branch or call directly.
  • Quick application. Applications only take a few minutes to complete.
  • Quick finance. If approved, borrowers will see the money in their accounts on the same day or the next business day.
  • Direct debit repayments. Repayments are deducted automatically from a nominated bank account.
  • Bad credit accepted. While Nifty does check credit scores, it still considers bad credit applicants.
  • Centrelink applicants accepted. Applicants who receive Centrelink payments are also still considered for finance.
  • Financial hardship measures. If you're struggling to repay your loan, there are financial hardship measures in place if you call Nifty directly or visit its contact page.

How much does a Nifty loan cost?

  • Establishment fee. An establishment fee of 20% of the total loan amount applies to this loan.
  • Monthly fees. Monthly fees of 4% of the total loan amount apply to this loan.
  • Dishonour fee. If you miss a payment, you will be charged a dishonour fee. The cost of this fee will be outlined in the loan contract.

Other fees and charges may apply, so it's important to read through your loan's contract carefully.

Nifty loan eligibility

In order to qualify, applicants must be:

  • Over 18 years old
  • An Australian citizen or permanent resident
  • Receiving a regular income into a personal account for at least 3 months (this can be via employment or Centrelink)

How to apply

To apply for a small loan from Nifty, please have the following documentation to hand:

  • Mobile phone number
  • Email address
  • Bank account details
  • Internet banking login details
  • myGov account details (if applicable)
  • Employment details
  • Driver's license

Prior to submitting an application, applicants should consider carefully whether they will be able to afford to repay a loan from Nifty. It's also a good idea to compare these loans to similar products on the market.

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