
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
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. Find out more here: https://www.finder.com.au/coronavirus-financial-help
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:
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.
Feature | Nimble | Cash Converters |
---|---|---|
How much can you borrow? | $300 to $5,000 | $100 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 9 months | 4 weeks to 2 years |
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 4:30 pm. 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? | ![]() | ![]() |
Want to apply? | Review and apply | Review and apply |
For customers in need of a short-term loan to cover a financial emergency until payday, both Cash Converters and Nimble offer loan options.
For customers deciding which one is right for them, they should remember to consider how much they want to borrow, the application process and which of the lenders they may be eligible with.
Learn more about how PayActiv's Earned Wage Access service can help you access up to $500 of your paycheque for a $5 fee charged fortnightly (only if you access your wage before payday).
InstaPay is a pay-on-demand service offered by Employment Hero that allows employees to access salary advances of up to $250 per week for a flat fee starting from just $2.
We rate the fees and features of both online brokers.
Hostplus and HESTA are two popular industry super funds, but which is right for you? We've compared their fees, investment options and performance side by side to help you choose.
Trying to decide between AustralianSuper and Australian Ethical Super? We've compared their fees, performance and investments to help you choose.
We compare the fees, investments and performance of AustralianSuper and LUCRF Super so you can see which super fund might be right for you.
AustralianSuper and Rest are two popular industry super funds, but how do they compare on fees, performance and investment options?
Can't decide between AustralianSuper or Hostplus? We've compared their fees, performance and investment options side-by-side to help you choose.
Trying to decide between AustralianSuper and HESTA? We've compared their fees, investment options, performance and extras side by side to help you choose.
Trying to decide between AustralianSuper and QSuper? We've compared their fees, investment options, performance and extras side by side to help you choose.