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Payday Loans Australia

Need to borrow money fast?

Are you in need of a fast loan to take care of those nasty bills or to cover the cost of an urgent expense? Well, a payday loan could help you cover those costs quickly until you get your next paycheck. However, these days, most people on the hunt for payday loans in Australia are really looking for small personal loans. So, while Nifty does not offer traditional payday loans, we do offer a whole range of personal loans that are just as simple and fast as payday loans, only without all the pitfalls

Read on to find out how our online personal loans can help you cover those urgent expenses, as well as give you more time to repay them!

Payday loans FAQs

What are payday loans? 

Put simply, payday loans are short-term, unsecured loans with a very high-interest rate. The ‘payday’ element comes from the fact that these loans typically require you to pay back the loan amount (with interest) on your next payday. 

Generally, payday loans are repaid through:

  • The lender setting up a direct debit from your bank account
  • A portion of your pay is automatically deducted each pay-cycle

In some situations – especially urgent ones – payday loans can feel like a saving grace. However, borrowers should exercise caution. Payday loans often come with eye-watering interest rates and a minefield of fees and charges. 

Can you get payday loans in Australia?

Yes, payday lenders can operate legally within Australia. However, the Australian Government has laid out some pretty serious restrictions to protect Australians against less-reputable payday lenders. 

The Government restricts payday lenders in the fees they can charge for loans under $2,000. While exact fees may vary between lenders and loan products, credit providers can only legally charge the following:

  • Maximum once off establishment fee of 20% of the principal amount
  • Monthly account keeping fee – maximum 4% of the principal
  • A government fee or change
  • Default fees and other charges 

Are payday loans illegal in Australia?

Technically, yes. ‘Traditional’ payday loans that were once required to be paid within two weeks are now illegal in Australia. Yet, some may still refer to legal small loan options as ‘payday loans Australia’ given their short-term nature. 

Does Nifty finance provide payday loans? 

Nifty does not offer traditional payday loans. However, that doesn’t mean we can’t give you a fair go at a small personal loan. Nifty offers small personal loans ranging from $300 to $2,000 that can be used to cover a range of urgent expenses. Unlike traditional fast payday loans Australia, our loans have a term of 6 to 9 months. Depending on the type of loan you’re looking for – small, medium or large – this can go up to 24 months.           

Can I get bad credit payday loans? 

If you’ve been typing ‘bad credit payday loans’ or ‘bad credit loans with guaranteed approval‘ into Google, you may have seen a few lenders advertising these loans. While Nifty does not provide payday loans, we do offer personal loans for people with less than perfect credit scores. If you’ve tried and failed time after time to gain approval from a traditional lender, turn to Nifty! Our team doesn’t judge you solely based on your credit score – we look at the bigger picture. 

For more information on bad credit loans with guaranteed approval click the link.

Can I get instant payday loans in Australia?

We know not everyone is fond of the saying, ‘good things come to those who wait’. Getting a loan approved can often take days, even weeks. But at Nifty, we have revolutionised this process with our 100% online application form. As a result, you can apply for instant small cash loans from the comfort of your own home. Plus, if you submit your application during our business hours, we could have an answer for you within just 60 minutes. 

So, while you can’t access instant payday loans online with us, you could enjoy a super fast turnaround on one of our small loans.

Can I get no credit check payday loans? 

As part of our responsible lending practices, Nifty does perform credit checks on all eligible applicants, meaning we don’t offer payday loans no credit check. However, don’t let that deter you from applying! Credit checks play a small role in our assessment of your loan application. We’ll put more focus on your current finances to see how you’re going to repay the loan. But we are firm believers that your credit history isn’t the be-all and end-all. 

Who is eligible for payday loans?

Thinking our loans may be a better alternative to payday loans online Australia? We have a list of eligibility criteria that you’ll need to meet before you apply for any of our quick and easy cash loans. To be eligible, you need to:

  • Be 18 years or older
  • Be an Australian Citizen or Permanent Resident
  • Currently be receiving a regular income into a personal bank account (over the last 90 days)
  • Have an active Australian mobile number and email address
  • Have internet banking set up

What information do I need to provide?

We stay true to our word – our application really is this simple and quick. That means no unnecessary documents and paper forms. The following is a list of what we will require from you in order to process your loan application:

  • 100 points of ID (name, D.O.B, etc.)
  • Contact information
  • The reason for your loan
  • Internet banking details
  • Your myGov account details (if you receive Centrelink benefits) 

Don’t stress about handing over your banking information. Our team will obtain a read-only copy of your bank statements to get a better understanding of your spending habits, income and existing financial commitments in order to determine whether or not you will be able to repay a personal loan. 

How do I apply for payday loans?

To save you the hassle of searching around our website, we’ve put together these simple steps to follow when applying for a personal loan with us:

Step one: Apply online

To start our 100% online application form, simply scroll up to the top of this page to use our loan calculator. Select the amount you’d like to borrow and the repayment period and click ‘Apply Now.’ From here, you’ll need to provide some personal and financial details. When you’re finished, just hit ‘Submit’ 

Step two: We’ll assess you

That’s it from you! We’ll take over from here. Once we’ve received your application, our team of loan specialists will get to work assessing it. If you apply during our regular business hours, then you could receive an outcome in as little as 60 minutes!

Step three: Review and sign your contract

If the Nifty team approves you for a loan, congratulations! We’ll then send you an electronic copy of your loan contract for you to review and sign. We recommend reading the terms and conditions thoroughly to make yourself aware of any fees and charges for late or missed payments. When you’re happy, e-sign it!

Step four: Receive your money

Once we’ve received your signed copy of your contract, a member of our team will transfer your cash. If you have an NPP-enabled bank account, then you could have your funds in your account and ready to use in 60 seconds!

How do I repay my loan?

Repaying your loan is just as easy as applying for it. If your online loans application is approved, we’ll get in touch with you. With Nifty, our repayments work by setting up a direct debit, so that your repayments will come out of your account automatically. We will ask you to select a day to deduct repayments. They can be set up to come out of your account on a weekly, fortnightly or monthly basis – it is entirely up to you which day you choose. If you wish to change your payment day, just give us a call on 1300 189 823.

We recommend setting it up so that your repayments fall on the same day as your payday. Selecting the right payment structure ensures that you always have enough money in your account. So, as long as you have enough cash in your account to cover the payments, they will just come out automatically. No need to set reminders or risk forgetting. Then, once your loan is paid off, the payments will stop automatically.

What loans does Nifty offer? 

Since we can’t provide payday loans in Australia, how can we help you get the cash you need? Well, Nifty offers 3 types of personal loans: small, medium and large. Here’s a breakdown of each:

Loan TypeSecured OptionsLoan amountLoan term
Small LoanUnsecured$300 to $2,0006 to 9 months
Medium LoanSecured$2100 to $4,6009 to 24 months
Large LoanSecured$5,000 to $10,0009 to 24 months

If you’re curious about our interest rates and fees, head to our costs page for more info.

Is a personal loan right for me? 

Whether you’re applying for personal loans or payday loans in Australia, it’s important to consider your options.

Personal loans can be a great short term solution for your cash flow problems. Whether you need money for a medical treatment or to cover the cost of a car accident, personal loans can give you quick access to funds. But depending on your financial situation, a personal loan might do you more harm than good. Before you commit to a loan, you should check out the following tips on whether or not a personal loan is right for you. If you can comfortably say yes to the following questions, then applying for a loan is probably a viable option for you. 

Some questions you may wish to ask yourself include:

  • Are you confident with your cash flow? 
  • Are you determined?
  • Have you done your research? 
  • Are you patient? 

Ready to apply?

We’re hoping you now have all the info you need on payday loans Australia. Remember, although Nifty does not offer traditional payday loans, we can provide you with online personal loans that are just as quick and easy. You’ll also have more time to repay them, giving you plenty of breathing space. 

So, whether you’re looking to get on top of those bills or take care of an emergency, we could help you get the online finance you need! If you own your own business, we may be able to provide you with a small business loan. If you still have a few more questions, please check out our FAQ page or send us a message. Otherwise, go ahead and scroll to the top of this page to get started with your application!

Apply Now

Andy Andy


Andrew Bell

Since founding Nifty in 2016, Bell has continued to make waves within the local financial sector for his continued ambition and willingness to adopt emerging technologies.

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Loan Costs

Large Loans

Large Loan Example

$5,000 - $10,000

Loan amount:
9 - 24 months
Establishment fee:
Monthly Fee:
Comparison Rate:
View Example
Loan amounts:
18 months, (78 weekly repayments)
Establishment fee and Total Interest:
Total payable:
Weekly installments:
View Loan Details

Medium Loans

Medium Loan Example

$2,001 - $4,600

Loan amounts:
$2,001 - $4,600
9 - 24 months
Establishment fee:
Monthly Fee:
Comparison Rate:
View Example
Loan amounts:
24 Months, (104 weekly repayments)
Establishment fee:
Total other fees:
$1,609.44 (reducing interest)
Total payable:
Weekly installments:
View Loan Details

Small Loans

Small Loan Example

$500 - $2,000

Loan amounts:
$500 - $2,000
12 months
Establishment fee:
Monthly Fee:
N / A *
Comparison Rate:
View Example
Loan amount:
12 Months, (52 weekly repayments
Establishment fee:
Total other fees:
Total payable:
Weekly installments:
View Loan Details

* Not applicable. Small loans do not charge an annual interest rate.

** WARNING: This comparison rate is true 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. Different loans may include other payable fees and charges. All fees and charges will always be displayed on your loan contract.