Nimble $5,000 Medium Loan Review

If you need to borrow a little more, Nimble lets you apply for up to $5,000 with the Nimble Medium loan.

No matter what you need the loan for, whether it’s to pay a large bill or make a large purchase, you may want to consider a Nimble Medium loan. You can apply for up to $5,000 online and have up to 2 year(s) to pay it off.

How does Nimble’s Medium Loan work?

Start by clicking "Go to Site" and submitting your application directly with Nimble. You can apply for up to $5,000. If your loan is confirmed before 4:30pm AEST on business days, you can receive your funds within 60 minutes directly into your bank account. Conditions apply.

Your repayments will be direct debited from your account on the day specified in your loan schedule – there’s no need for you to remember to make payments. You can log in to the Nimble Members’ Area any time to manage your loan and check your repayments.

Product NameNimble Medium Loan
Interest Rate (p.a.)From 47.62% (fixed)
Comparison Rate (p.a.)65.66%
Interest Rate TypeFixed
Min Loan Amount$2,001
Max. Loan Amount$5,000
Loan SecurityUnsecured

Pros

  • Larger amount loans
  • Loans for up to 2 years

Cons

  • Higher interest rates
  • Strict lending conditions
  • Not available to Centrelink earners
  • 18+
  • Employed
  • Active bank account
  • Your main source of income must not be Centrelink

Features of the Nimble Medium Loan

If you apply and are approved for Nimble’s Medium Loan, you’ll have access to the following features:

    • Higher loan amount. You can apply for between $2,001 and $5,000 with the Medium Loan.
    • Longer repayment terms. Once you’re approved, you can select repayments to meet your budget. Terms are available up to 2 year(s).
    • Automatic repayments. You won’t need to remember to make repayments. On the scheduled date, the repayment will automatically be direct debited out of your account. You’ll receive an SMS repayment reminder before the scheduled date.
    • Account management. You can manage your loan and check your repayments through the Nimble Member’s Area

How much does the loan cost?

Consider the following interest rates, fees and charges before applying for the Nimble loan:

  • An establishment fee of up to $400 applies
  • Interest rate of 47.62% p.a. accrues daily and is charged monthly in arrears based on the outstanding balance of your loan
  • A payment dishonour fee of $15 will be charged if there are insufficient funds in your account on the repayment date
  • A reschedule fee of $15 is charged each time a payment is rescheduled

What to consider before submitting your application

Before you apply, consider whether you can afford the loan. Use the Nimble website to get an estimate of your repayments and work out if it’s affordable on your budget. Also consider if you need the full amount you are applying for or if you could get by with a smaller amount.

Ready to apply? Here’s how

If you’re considering applying for the Nimble Medium Loan, click "Go to Site" to get your application started. Check you meet the below eligibility criteria before you begin:

  • You’re over the age of 18
  • You’re employed
  • Your primary income isn’t from Centrelink

Before you apply, make sure you have the following details on hand to complete your application:

  • Personal details. Your name, contact information and a form of ID.
  • Employment information. You need to indicate whether you are employed full-time, part-time or other.
  • Financial details. Your income, expenses and assets.
  • Banking information. You’ll need your Internet banking logins so Nimble can verify your financials.

If you’re in need of a larger loan, Nimble’s Medium Loan is one to consider. Make sure to compare it with similar products before you apply.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

6 Responses

  1. Default Gravatar
    KristianAugust 23, 2017

    Hi , I would like to know what the minimum repayments for a $3000 loan would be as I am coming into a inheritance in the next 6 months thanks

    • Staff
      HaroldAugust 23, 2017Staff

      Hi Kristian,

      Thank you for your inquiry.

      Typically, minimum loan repayment based on the loan amount will be provided by your lender. Should you need to further discuss this matter you can contact them here.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    JacquelineNovember 25, 2016

    My loan was unsuccessful as my employer pays me by cash not into my acct is there another way I can apply with proof of income?

    • Staff
      MayNovember 25, 2016Staff

      Hi Jacqueline,

      Thanks for your question and I’m sorry to hear about the rejection of your application.

      Generally, lenders would require you to provide proof of your income source to assess your financial position and your ability to repay the loan. Usually, for applicants who are paid in cash, banks or lenders would consider them as having an unstable employment.

      For a chance to be accepted, you may have to provide an evidence of all your income plus endorsements from your employer. Depending on the state you live in and the tax regulations, you may or may not be required to pay tax. So having that income record in your tax, it will also mean that you can have the documentation to show to the lender. Please refer to this guide for credit when paid in cash, which might be useful.

      Also, before submitting any application for a credit, make sure to review the eligibility criteria and requirements so that you would know if you qualify for the loan or not.

      Cheers,
      May

  3. Default Gravatar
    Britt-IngerJuly 13, 2016

    Are you giving loan to swedish citizens living in sweden. It isa emergency

    • Staff
      ElizabethJuly 13, 2016Staff

      Hi Britt-Inger,

      Unfortunately Nimble only provides loans to current residents of Australia. You’ll need to contact a lender in Sweden if you’re in need of a loan.

      Sorry I couldn’t be of more assistance,

      Elizabeth

Ask a question