Frequently Asked Questions | FAQ | Nifty Loans

About Nifty

What does Nifty Loans do?

Nifty Loans is an innovative lender that utilises the latest cutting-edge technology as well as years of experience in the financial services industry to deliver short, medium and long term loans to thousands of Australians. We want to give every Australian who is seeking easy finance a fair go. That’s why we look at clients who have bad credit and are receiving Centrelink payments.

What products does Nifty offer?

Nifty offers two different loan types; Medium loans ($2,500 to $4,600) and Large loans ($5,000). Each type is designed for different a situation and, as such, have different costs and fee structures. For examples of each loan type and a detailed breakdown of the costs, please visit our Costs page. Please note that our Medium and Large loans will often require a vehicle as security.

What makes Nifty Loans different?

We believe that everyone deserves a fair go, regardless of your financial past. While we do conduct credit checks, we look at more than just your credit score. Nifty Loans look at your current relationship with money as well. It can always be trusted that we’ll assess your individual situation, verify your details thoroughly, and only lend you an amount you can comfortably afford to repay.

The Application Process

How does the application process work?

We take the stress out of applying for a loan. Apply online in minutes here. Our applications are paperless, so you can apply from anywhere, anytime, and 70% of applicants have an outcome right away! Following a manual assessment of financial circumstances, we can deliver a decision on applications in 60 minutes* and pay out loans instantly, most of the time**.

What do I need to get started?

Having your mobile, email and banking details is always handy when starting a new application. We’ll let you know if we need any extra info via text and email. So, after you apply, make sure to keep an eye on your notifications.

Do I need a vehicle to apply?


Small loans of $2,000 and below are unsecured and do not require any sort of asset to be used as collateral.

Medium and Large loans are a little different. A vehicle may be requested to be used as security. Adding a security against the loan greatly reduces the risk to the lender which allows us to be a little more lenient when assessing the application.

Please note: A vehicle can only be used as security if the applicant is the registered owner of said vehicle.

Can I apply for a loan over the phone or in person?

We only accept applications online, as we are 100% online. We have made our application process as quick and easy as possible. As long as you have access to the Internet you will be able to apply for a Nifty Loan on any device and from anywhere.

Can I apply if I’m bankrupt?

Yes! You can apply with Nifty Loans if you are bankrupt (although there may be some changes to our assessment criteria). If you’ve been discharged from bankruptcy you are also welcome to apply for our fast loans. We understand that life doesn’t always go to plan and we’re not in the business of saying no if you can afford the repayments.

Do you conduct credit history checks?

We do perform a credit check or a formal credit enquiry. We consider credit checks an important aspect of our responsible lending policy. However, we do look at more than just your credit score. We also look at your current relationship with money, and that includes income and expenses. For all loans, we ensure that we only lend to customers when we know they can afford one of our loans.

How does it work if I apply outside of business hours?

Our digital application is smart, fast and very easy. This means you can still apply outside of business hours 24/7. Once we open, our loan specialists will aim to have an outcome for your within 60 minutes, however, this time can fluctuate depending on the number of applications. You can complete our application in minutes, with zero need for paperwork or headaches! If you have any queries, simply contact us and one of our friendly operators will be able to assist.

What are the chances of approval?

Every application is assessed against our responsible lending guidelines. We consider your income amount, income stability, loan and direct debit history, dishonour percentage, etc. In short, there really is no ‘chance’ of getting approved, it is very case by case. If an application has been unsuccessful within the past 7 days, there is a good chance the outcome will be the same.

You’ve submitted an application, what happens next?

The best thing to do now is to sit back, relax, and wait for an outcome. Our team will be in contact with you if we require any additional information. If you’re approved, we’ll send over an electronic contract for you to review and sign. Once we’ve received the signed contract, we’ll transfer the cash to your nominated bank account.

How quickly do I get my money?

Once we receive a signed copy of an electronic contract, most customers have the funds in their account in 60-seconds**, if their bank account is NPP enabled. This includes contracts that are signed after business hours and on weekends!

If your bank does not support instant payments, the latest you will receive the funds will be overnight if you have signed your contract by 5:00pm AEST (during banking days). If signed on the weekend or public holidays, these will be paid on the next business day.

Not sure if your bank supports instant payments? You can find out more here.

Bank Statements

Why do you ask for my bank statements?

We are required by law to obtain the past 90-days of your most recent bank statements. We use these both as a form of identification and a platform to assess your financial suitability. Please be aware that we may request bank statements from any account you have previously owned (open or closed), this is to ensure our income and expenditure assessment is as accurate as possible. We use the latest safe banking technology to deliver the fastest results and at the same time safeguard your information.

Why do you ask for my online banking details?

We access your recent bank statements through our trusted partners, who use the same technology used by a number of other financial services companies. This means you can avoid all the messy and time-consuming work of getting your bank statements to us. It is not possible for anyone at Nifty to see or access your online banking password.

Fees and Repayments

What costs are involved?

We charge standard fees and rates for our Nifty Loans. To view detailed information about the costs of our loans, please visit our costs page.

How do I make repayments?

Repayments are made by direct debit, usually in line with your pay cycle. This takes the hassle out of making repayments as the money is automatically deducted from your account when nominated. If any changes need to be made, feel free to contact our team for amendments. The power is yours when it comes to repayments.

What other fees may be charged?

Other fees and charges may be applied in the event a contracted repayment is missed or amended. These will always be outlined in the loan contract. So, make sure your account is topped up with money before your next repayment is due.

How much does it cost to pay out my loan early?

There are no extra costs to pay out your loan early! In fact, paying out your loan early may save you money on monthly fees or interest! Isn’t that Nifty?!

What if I cannot repay on the repayment due date?

If you can’t make a repayment, you should contact us straight away. Our friendly customer service team will be happy to discuss your situation.

What if I am experiencing financial hardship?

We understand your circumstances may change after taking out a loan. If you are experiencing financial hardship, you should contact us immediately, and we may be able to vary your contract. Contact us on 1300 471 328 or email us

What account will my payments be taken from?

Your loan repayments will be debited directly from the nominated bank account you provided when you submitted your application. If you need to update these details after you receive your loan, please contact our friendly customer service team for help.

How can I contact Nifty?

How can I contact Nifty?

You can contact us using the details on the contact us page.

What if I have a complaint?

Should you not be satisfied with the service you have received, please let us know. For more information on how we manage complaints, please see our dispute resolution policy.

Existing Customers

How quickly can I apply for another loan?

You can apply for a loan at any time. We will assess each loan application to make sure it will be suitable for you in line with our responsible lending obligations.

Do you have a login portal or members area?

Yes, we do! Once your loan application is approved, you will be able to set up your account. Inside the members portal, you can check your loans balances, make extra payments, download a copy of your contracts, request statements, and much more!

How can I request a statement and other documents?

If you need information about your account such as statements or balances, you can request them via the members portal or contact us through our contact us page.

No fuss, no paperwork. Just nifty loans.

Personal Loan Details

Loan Amounts $5,000 – $10,000
Loan Terms 9 – 24 months
Starting Interest Rate (APR) 11.42% (Excellent Credit)
Starting Comparison Rate 14.49% (Excellent Credit)
Ceiling Interest Rate (APR) 21.24% (Average Credit)
Ceiling Comparison Rate 45.56% (Average Credit)
Type of rate Fixed Rate
Repayment options Weekly, Fortnightly, Monthly
Monthly Fee $0
Early repayment fee $0
Average turnaround 60 minutes*
Loan Options Unsecured & secured options

Credit criteria and terms and conditions apply. Representative example: based on a loan of $10,000 over 36 months a borrower with an excellent credit history can expect to pay a total of $12,389.76. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Interest rates vary subject to a full credit assessment. This represents a comparison rate of 14.49% p.a. and includes all interest and fees included in your loan repayments over the life of your loan. For our personal loan product the APR starts from a minimum of 11.42% (14.49% comparison rate) with a maximum of 21.24% (45.56% comparison rate). The minimum loan term is 9 months and the maximum loan term is 24 months. For more details and examples visit our rates and fees page.