What is a Target Market Determination? - Nifty Personal Loans

A Target Market Determination is a document which describes:

  • the type of customer for which the product is designed (target market)
  • any conditions or restrictions on how the product can be distributed to customers.
  • events or circumstances that will require Nifty to review the Target Market Determination for a financial product.

Why does Nifty need to have Target Market Determinations?

Nifty are required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019. This Act sets out obligations to ensure a customer-centric approach to designing, marketing and distributing financial products.

How do you access Nifty ‘s Target Market Determinations?

To view our Target Market Determination documents, please click on the links below:

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.