Lender Review: Nifty Loans

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Company Brief

Small Loan: $500 – $2,000

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Min Loan Term Max Loan Term
Personal Loan 4% monthly fee Fixed monthly fee + 20% establishment fee $500 $2,000 60 minutes 12 months 12 months


Nifty Loans provide small personal loans from $500 to $2,000 with a repayment term of 12 months for a fixed monthly fee of 4% and an establishment fee of 20% of the loan amount.

As an example, if you get a loan amount of $1,000 with a 12-month repayment term, the website calculator sets your establishment fee at $200. Total fees will amount to $240, with a total payable amount of $1,440 paid in 52 weekly repayments of $35.

Medium Loan: $2,001 – $4,600

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Min Loan Term Max Loan Term
Secured Personal Loan 47.8% annual percentage rate Fixed interest rate + establishment fee of $400 $2,001 $4,600 60 minutes 9 months 24 months


You may apply for medium secured loans from Nifty Loans from $2,001 to $4,600 for 9 to 24 months. Secured loans are loans that require collateral such as the vehicle owned by the borrower as part of borrowing conditions. The interest rate set by the company for medium loans is 47.8%. Meanwhile, the establishment fee is fixed at $400.

For example, if your loan amount is $2,500 with a 24-month repayment period, the website calculator of Nifty Finance sets your total fees at $1,609.44 and a fixed establishment fee of $400. The total payable amount of money is $4,509.44 with weekly instalments of $43.36.

Large Loan: $5,000 – $10,000

Type of Loan Interest Rate Interest Type Min Loan Amount Max Loan Amount Turnaround time Min Loan Term Max Loan Term
Secured Personal Loan 21.24% annual percentage rate Fixed interest rate + variable establishment fee of up to 1% of the loan amount per contract month $5,000 $10,000 60 minutes 9 months 24 months


The Large Secured Loan from Nifty Loans ranges from $5,000 to $10,000. The annual percentage rate for this type of loan is 21.24%. Fees include a variable establishment fee of up to 1% of the loan amount per contract month.

For example: for a loan of $5,000 with an 18-month repayment term, the company website states the total establishment fees and interest payments at $1,897.54. The total payable is $6,897.54 with weekly instalments of $88.43.

Breakdown of all fees for each loan product

The following are the fees associated with Nifty Loans small loans:

  • Monthly Fee: 4% of the total amount borrowed per month
  • Establishment Fee: 20% of the total loan amount

The fees included in medium loans are the following:

  • Annual Interest Rate: 47.80% of the loan amount
  • Loan establishment Fee: $400

The following fees are associated with secured loans from $5,000 – $10,000:

  • Annual Interest Rate: 21.24% of the loan amount
  • Establishment Fee: 0-1% of the total loan amount per month of the contract

Other fees to look out for are the following:

  • Missed Payment Fees: $35
  • Direct Debit Cancellation Fee: $60

There are no unexpected costs with Nifty Loans and no extra hidden costs which could later affect you down the line.

Application Process

The application process for all loans is done through Nifty’s website online loan application form. To be eligible for the loan, you must meet the following criteria:

  • Be at least 18 years old
  • Be an Australian citizen or permanent resident
  • Have an active online bank account
  • Have a working mobile number and email address
  • Employed and with regular income within 90 days of the date of application.

You will also need to provide the following information:

  • Share your current contact phone number and up-to-date contact details.
  • Reason for taking out a loan
  • Internet banking account details and a bank statement.
  • MyGov details if receiving Centrelink benefits

After submitting the required information and documents, you’ll typically receive a pre-approval decision for your loan within 60 minutes from the time of application (which may vary depending on the current volume of applications).

As part of the responsible lender regulations, Nifty Loans checks your credit score. Credit history checks are required to ensure that you are a reliable borrower and that you are in a financial situation where you can repay the loan.

After receiving approval, you will be required to sign an electronic copy of the contract. Once signed, you will receive the loan proceeds to your nominated bank account within 60 seconds, even after business hours or on a weekend (if your banking account is NPP enabled). This means you could fill out your publication at lunchtime, in some cases have your money by the end of the day.

Notable Loan Product Features

The notable loan product features of Nifty Loans include its quick 60-minute application approval (for applications completed during business hours). Loan proceeds are also sent immediately once the borrower signs the electronic contract (even during holidays and weekends).

Payments are automatically taken from your account through a direct debit arrangement in line with your pay cycle. There are no fees imposed on early repayments. Finally, the company also extends financial hardship assistance to borrowers who are experiencing difficulties in paying off loans.

The Company


  • 100% online application process through the company website.
  • 60-minute turnaround time on applications completed within business hours.
  • Quick-release of loan proceeds upon signing the electronic loan contract.
  • Financial hardship assistance to borrowers with the option to vary contract terms.
  • Friendly customer service team with great customer service skills and reviews.


  • Difficulty in approval for some Centrelink customers.

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