What does Nifty Loans do?
Nifty Loans is a brand of the Jacaranda Finance Group and has years of experience in the financial services industry. We are an innovative business that utilises the latest cutting-edge technology. We have helped thousands of Australians apply for medium and long-term loans through our partner company, Jacaranda Finance. We want to help every Australian who is seeking easy access to finance with a fair go. That’s why we even try to help clients who have bad credit.
What products does Nifty offer?
Nifty can help you apply for two different loan types at Jacaranda; Medium loans ($2,100 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 the Costs page.
What makes Nifty Loans different?
We believe that everyone deserves a fair go, regardless of their financial past. While Jacaranda does conduct credit checks, they look at more than just your credit score. They will look at your current relationship with money as well. It can always be trusted Jacaranda will assess your individual situation, verify your details thoroughly, and only lend you an amount you can afford to repay.
The Application Process
How does the application process work?
We can help take the stress out of applying for a loan. Apply online with Jacaranda in only 5 to 12 minutes here. The applications are paperless, so you can apply from anywhere, anytime, and 50% of applicants have an outcome right away! Following a manual assessment of financial circumstances, Jacaranda can deliver a decision on applications on the same day* during business hours (most of the time) and payout 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. Once you have applied, if any more information is needed, you will be notified via text and email. So, after you apply, make sure to keep an eye on your notifications.
Do I need a vehicle to apply?
A vehicle may be requested to be used as security. Adding 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 that vehicle.
Can I apply for a loan over the phone or in person?
Applications are only accepted online, as we are 100% online. The application process is quick and easy as possible. As long as you have access to the Internet you will be able to apply for a loan on any device and from anywhere in Australia.
Can I apply if I’m bankrupt?
If you’ve been discharged from bankruptcy you are also welcome to apply for a fast loan. 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?
Jacaranda does perform a credit check or a formal credit enquiry. We consider credit checks an important aspect of a responsible lending policy. However, they do look at more than just your credit score. Jacaranda will look at your current relationship with money, and that includes your income and expenses.
How does it work if I apply outside of business hours?
The digital application is smart, fast, and easy. This means you can still apply outside of business hours 24/7. Once Jacaranda is open, the loan specialists will aim to have an outcome for your loan on the same day, however, this time can fluctuate depending on the number of applications. You can complete the application in minutes, with zero need for physical 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 responsible lending guidelines. Your income amount, income stability, loan, and direct debit history, dishonor percentage, etc are all considered. 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 30 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. The team will be in contact with you if they require any additional information. If you’re approved, you will be sent over an electronic contract for you to review and sign. Once the signed contract is received, the cash will be sent to your nominated bank account.
How quickly do I get my money?
Once a signed copy of an electronic contract is recieved, 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.
Why do you ask for my bank statements?
It’s required by Jacaranda to obtain the past 90-days of your most recent bank statements. These are used both as a form of identification and a platform to assess your financial suitability. Please be aware that bank statements from any account you have previously owned (open or closed) may be requested. This is to ensure your income and expenditure assessment is as accurate as possible. The latest safe banking technology is used to deliver the fastest results and at the same time safeguard your information.
Why do you ask for my online banking details?
Your recent bank statements are accessed 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?
Nifty does not charge any fees for its service. Jacaranda will charge standard fees and rates for their Loans. To view detailed information about the costs of our loans, please visit the 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 the Jacaranda 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 Jacaranda straight away. The 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 Jacaranda immediately, and we may be able to vary your contract.
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 the friendly customer service team for help.
How can I contact Nifty?
How quickly can I apply for another loan?
You can now apply for a loan at any time with Jacaranda. They will assess each loan application to make sure it will be suitable for you in line with their responsible lending obligations.
Is there a login portal or members area?
Yes! 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 the customer service team.