Responsible Lending Policy | Nifty Follows Strict Guidelines

Credit Assessment

We have no interest in providing a loan that we believe can’t be repaid. Doing so could jeopardise the welfare of the customer and, let’s be honest, it’s not good for business to lend money we will not get back. To this end, before any loan is approved, Nifty Loans will perform an assessment to determine the suitability of the loan. In making this assessment:

  • We will make enquiries about your requirements and objectives for the loan, including asking you how much you need, the time frame you can make repayments and the purpose of your loan.
  • We will make enquiries about your financial situation, including asking questions about your income, expenses and employment status to help us understand your current circumstances.
  • We will obtain at a minimum the last 90 days of your bank statements, which we are required to by law. We use these both as a form of identification and a means to assess your finances. We access your bank statements, with your permission, electronically, as this is a quick and effective way to accurately gather and analyse the information.
  • We will, before offering final approval, perform a credit enquiry to gain further insights into your financial situation.
  • We may also request further documentation regarding your application where it is warranted.

This may seem like a lot of work, but don’t be put off by this. At Nifty Loans, we pride ourselves on not only being compliant but efficient with processing our loan applications. We are able to provide fast loans by using cutting edge technology and automating many of our processes. So, you can be sure when you get a quick personal loan from Nifty Loans, we will still be acting as a Responsible Lender.


We are a registered business, (ABN 66 630 101 843) and we also hold an Australian Credit Licence (Number 514 260). This licence is issued by the Australian Securities and Investments Commission (ASIC) and means we must comply with the National Consumer Credit Protection Act 2009 (Cth), as well as any and all related regulations and Regulatory Guides. As such, Nifty Loans will always follow our requirements as stated in these documents, including performing credit assessments and offering financial hardship variations.

Fees and Charges

Don’t worry, we won’t try and hide anything from you. We will show you a full breakdown of any fees and charges before you agree to a loan, and these will be fully displayed and easily readable in your contract.

Financial Hardship

Financial hardship can arise at the most unexpected times and here at Nifty Loans, we understand this. It can be caused by life events such as the loss of your job, chronic illness, accidents, relationship breakdowns and other emergencies. We encourage any customers facing financial hardship to talk to us at the earliest time possible. For more information about our hardship process, you can also read our Hardship Policy.

Personal Loan Details

Loan Amounts $5,000 – $15,000
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.