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On the Hunt for the Best Personal Loan Rates? Here’s What You Need to Know

Finding the best personal loan rates can be tricky. With thousands of lenders out there, the possibilities seem endless. So, how do you know that you’re getting the best personal loan rates after all? We will teach you what you need to know to find the best loans: what to look for and what to avoid!

If you are interested in our loan rates, head over to our costs page and compare. We offer nifty loans from $300 to $5,000. If you feel stuck in unexpected bills mid-month or have a big event coming up, a small personal loan might be a good solution for you. And the best thing? It’s easy and super fast. Our application is 100% online and can take only a few minutes to complete. We offer same-day approval loans, you can even get your outcome in 60 minutes*.


What is an interest rate?

It’s one of those questions you might feel uncomfortable to ask because everyone else seems to know. There are no stupid questions, we can reassure you! You must understand exactly what you sign up for when applying for a personal loan. 

The lender will often charge a percentage of your loan amount for the use of their money at certain intervals. How much is charged depends on the amount of money, the repayment period, interest rate and how often the interest is calculated. So the interest rate and finer details really affect how much you pay towards paying off your credit. 

What is a personal loan?

In short, a personal loan is a sum of money that you borrow from a lender over a period of time with a certain interest rate or set of fees that is paid to the lender. Personal loans can be either secured or unsecured, which means in some cases, collateral like cars, boats or motorbikes needs to be attached to the application as security. That especially applies when borrowing a larger amount of money. 

At Nifty, we offer personal loans for the everyday Aussies who need to quickly improve their cash flow. Our loans range from $300 to $5,000. Why are we different from other lenders? We want to make access to personal finances easy for everyone. You are unemployed receiving Centrelink? You’ll still get a fair go. We treat Centrelink payments the same as a regular income, therefore, you will still be able to apply. You’ve got a bad credit rating? We highly encourage you to apply anyway! We do perform a credit check, but we promise it’s not all we care about. We don’t think a mistake you made up to 7 years ago should necessarily affect you financially today. Therefore, we assess everyone’s unique situation and base the outcome on suitability and affordability as well. 

Interest rate as part of your personal loan 

As previously stated, the interest rate will be added to the amount that you borrow, therefore, if you borrow $3,000, you will repay $3,000 plus your interest rate. To get the best personal loan rates, it is important to compare lenders. You can find comparison websites on Google but it is equally important to check the rates on the lender’s websites. Additionally, the interest rate isn’t the only thing you should look for when applying for a loan. Some lenders may have a lower interest rate but higher fees and charges for missed/late payments. So it is important to looks at the total amount of fees, interest and charges that you will repay. 

Does my credit rating affect my personal interest rates?

Yes, it can. Generally, interest rates on personal loans are based on your credit score. Therefore, the better your score, the lower your interest rate. This is very much based on the lender you choose, so you should always enquire about this first. With that said, a bad credit score doesn’t have to prevent you from getting a personal loan. At Nifty, we offer personal loans for people with bad credit. Your best personal loan rates might just be a little different from someone with a good credit rating. 

What do I need to know to get the best personal loan rates?

First of all, it’s important to check if your loan rate is fixed. Most lenders will agree on a personal loan rate when setting up your loan contract and this rate won’t change over the lifetime of your loan. However, some lenders might have variable interest rates that change periodically. That is risky as you won’t know how much you have to repay in total. For the best personal loan rates, this does make it a bit more complicated in deciding the best loan for you. 

Transparency is key: As your interest is going to be added to the amount you borrow, you want to know about any extra costs that might come up. Make sure to choose a transparent lender who states their costs clearly on their website. At Nifty, we don’t have anything to hide. You can find an overview of our costs on our costs page

Who can get a personal loan with Nifty?

If you are considering applying for a personal loan with Nifty, go ahead! However, there are a few teenie tiny requirements you will have to fulfil to be eligible for a personal loan before you can apply: 

  • You have to be 18 years or older; 
  • You need Australian citizenship or permanent residency; 
  • We require you to have an online banking account with at least 3 months of consistent incoming payments; 
  • An active email address and mobile phone number. 

If you tick all the boxes, you are very welcome to apply for a loan with Nifty. If you have bad credit, don’t let this discourage you from trying. We do offer personal loans for people with bad credit, so give it a shot! 

What can a personal loan be used for?

  • Unexpected expenses – Your car breaks down in the middle of the road, your fridge is broken or you have a big medical bill coming up – sometimes, life doesn’t go to plan. If you have been budgeting well this month but an unexpected bill is putting extra financial pressure onto you, a small personal loan may provide a short term solution when you need it the most. 
  • Important life events – You may have been saving for a wedding for a while but still don’t have sufficient funds on hand. In this case, a personal loan can add in the extra money to fund the wedding of your dreams! 
  • A big move – A change of location can be quite expensive, you have to relocate all your belongings, get bits and pieces and pay a rental bond upfront. If that’s putting extra stress on you, a personal loan can cover the additional costs until you have settled down. 
  • Debt consolidation – If you have multiple debts from different places, debt consolidation may be a good option for you. Debt consolidation is combining all your debts in one big payment with one interest rate and one payment date. A debt consolidation loan may even save you from a bad credit score. But you do need to be careful with these to ensure you end up with a loan that is suitable for your needs. 
  • Education – A personal loan can be an alternative to a student loan to cover some parts of your expenses.

What personal loans does Nifty offer?

It’s not just about the best personal loan rates, it’s also important if a personal loan fits your needs and financial circumstances. Here at Nifty, we offer 3 different types of personal loans: small, medium and large to cater for a range of situations. 

Small personal loans 

Our small personal loans range from $300 – $2,000. They can be repaid over a period of 6 – 9 months and are unsecured. That means you don’t have to attach any security to the loan. A small personal loan may provide quick relief in a sticky financial situation. 

Medium personal loans 

Nifty medium personal loans range from $2,100 – $4,600 and can be repaid over 9 – 24 months. All Nifty loans over $2,000 can be secured loans, therefore, you can attach collateral such as a car, boat or motorbike to your application. 

Large personal loans 

If you want to go big, go for a large personal loan. They are $5,000 and can be repaid over 9 – 24 months. They are most often secured loans and generally, security must be attached to your application. 

If you would like to know more about our personal loans or the attached costs, head over to our costs page or talk to someone in our friendly service team. We are happy to advise you on the best personal loan rates and how to get them. 

I have found the best personal loan rates, how do I apply?

If you have considered all your options carefully and choose Nifty Loans for your personal loans, congratulations! We believe in transparency and offer fast, easy personal loans. Therefore, we will offer you a fair chance to apply! Just remember, you should always consider all your options and consider contacting an independent financial adviser. 

How do I apply for a fast cash loan?

Imagine queuing somewhere to apply for a loan…Not with us! Our application process is 100% online. No need to drive around and print out mountains of paperwork. Follow these easy steps for your application: 

Step 1: Choose your loan. 

Our loan calculator on top of this page will make sure that you get an idea about our best personal loan rates. You can play around with it to see how much you will have to repay over different periods of time. Once you are happy, click “Apply Now” to start the application process. 

Step 2: Apply online. 

Our application is super fast and super easy: Simply fill in your personal details and click “Submit”. Most people finish their applications within minutes. 

Step 3: Assessment. 

Now we will assess your application. We use safe banking technology access a read-only copy of your bank statements. The outcome will be based on suitability and affordability to make sure a personal loan is right for you. You may receive your answer in 1 hour* already, we are that fast! (It may take a little longer if you apply outside of our business hours but we will get back to you first thing the next morning.)

Step 4: Receive your funds. 

Once approved, we send you the digital loan contract to sign and send back. Following this, we transfer your funds to your nominated bank account. It depends on your banking provider how long it takes for them to show up, however, applicants with an NPP enabled bank account can have their funds instantly!

Why getting a loan with?

At Nifty, we don’t claim to provide the best personal loan rates. However, we can offer you a competitive rate on your personal loan compared to similar providers. Our loans are nifty and we’ll tell you why: 

  • They are 100% online, no fuss, no paperwork. 
  • You can apply at any time from anywhere, isn’t that handy?
  • Our application is so fast, most people submit it within minutes only. 
  • Time is important and we won’t make you wait around. We let you know the outcome as quickly as possible, sometimes in just an hour (if you apply within business hours).
  • Our costs are transparent and easy to understand, with no hidden fees, no extra costs as these will all be shown in your contract

*If you apply within our business hours and we don’t require additional documents.

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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.