Nimble vs Cash Converters

Find the right lender for your needs: Nimble and Cash Converters compared.

Need a short-term loan but not sure which lender to go with? We compare two prominent short-term lenders to find out which fees, features and restrictions will suit your borrowing needs best.

Feature Nimble Cash Converters
How much can you borrow? $300 to $5,000 $50 to $4,600
How do you apply? Online Cash advance: In-store only
Small or medium personal loan: Online
How long do you have to repay? 62 days to 1 year 4 weeks to 24 year
How much will the loan cost? Loans of up to $2,000: 20% of loan amount + 4% of loan amount each month

Loans of $2,001 to $5,000: Application fee of $400 + 47.62% p.a.

Cash advances and small personal loans: 20% of loan amount (establishment fee) + 4% of loan amount each month

Medium personal loans: $400 (establishment fee; financed under loan) + 48% p.a. interest

Eligibility criteria Applicants must be employed and earn a regular income into a bank account. Applicants must be over 18 and live in Australia. For a medium personal loan, applicants must also earn at least $1,000 per week and have been in their current employment for at least three months.
How quickly is the loan funded? Within 60 minutes if the loan is confirmed by 4:30pm.
The next business day for loans confirmed after this time.
Same day for cash advance loans and 24-48 hours for small and medium personal loans.
Do they have a prepaid card? Yes Yes
How much are you charged for a late repayment? Direct debit dishonour fee: $15

Default fee: $5 per day

Dishonour fee: $33
Can you pay off the loan early? yes
Want to apply? Review and apply Review and apply

Both Cash Converters and Nimble offer convenient loan options if you find yourself in need of a short-term loan. When deciding which one is right for you, remember to consider how much you want to borrow, the application process and which of the lenders you may be eligible with.

Image: Shutterstock

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