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Want The Low Down On Low Interest Small Loans? Nifty Has All The Details You Need To Know!

If you’ve been doing your research and are looking to apply for low interest loans, then Nifty has done the hard work for you. We’ve got the lowdown on what low interest small loans are and how they work.

Low Down On Low Interest Small Loans

What Are Low Interest Small Loans?

Before we get started, let’s clear up what a low interest small loan actually is. Low interest small loans are basically loans granted on the basis of low interest rates on the repayments. The ‘small’ part is pretty self-explanatory. It simply means the loan amount applied for is of small value.

No Interest Loans Scheme

If you’re looking for a lender to provide low interest small loans then the No Interest Loans Scheme (NILS) could be something to look in to. NILS provides families and singles with access to safe and affordable credit. Basically, NILS loans are approved for up to $1,500 to spend on essential goods and repayments are set up at an affordable amount over 12 to 18 months. The No Interest Loans Scheme is not a payday lender or a bank loan. NILS works through a system called circular credit. What is circular credit? It simply means that when a borrower makes a repayment on their loan the funds are then available to another applicant.

Found out more about no interest small loans

Who Is Eligible For NILS?

To be eligible for NILS you will need to meet a few criteria:

  • Have a health care/ pension card, or;
  • Earn less than $45,000 per year before tax ($60,000 for joint applicants or people with children);
  • Have lived in your current premises for more than 3 months;
  • Show a willingness and capacity to repay.

What Can I Use NILS For?

It is important to remember that NILS are only available for the purchase of essential goods like:

  • Household items like fridges, washing machines, stoves, dryers, freezers and furniture
  • Some medical and dental expenses (not cosmetic)
  • Education essentials like laptops and textbooks
  • Other approved items

What Can’t I Use NILS For?

There are a variety of things that NILS cannot be used for, like:

  • Rent or bond payment
  • Bills
  • Cash
  • Holiday expenses

Applying For NILS

If the No Interest Loans Scheme seems like the right fit for you then here is how you could get started:

  1. Enquire – you can enquire about a loan online or call 13 NILS (13 64 57)
  2. Interview – you will be required to bring your documentation to a meeting with a local loan provider
  3. Assessment – you’re application will be assessed by the loan provider
  4. Outcome – if your loan application is successful you will be informed

Why Apply for Low Interest Loan Schemes?

Low interest and NIL loans are often offered to disadvantaged Australians, they also have fairly strict criteria. They provide low-income access to those who need it, sometimes offering no interest loans. You can typically use NILS loans to buy essential household items such as whitegoods (like fridges and washing machines), computers or furniture.

Nifty Loans does not offer any kind of no or low interest loan schemes. We’re a trusted personal loan lender that offers loans between $300 to $5,000.

What does Nifty offer?

We may not offer no or low interest loans, however, we are a lender that is ready to give every Aussie a fair go. At Nifty, we offer fair and reasonable rates on small loans fast. We pride ourselves on our competitive interest rates and reasonable repayment periods. Consequently, our team wants to make it as easy as possible for all Aussies to access a personal loan. This does not mean we will approve every single application. It simply means we will do our best to match you with a loan product that is right for your individual circumstances.

What is a personal loan?

A personal loan is a loan for personal expenses such as a holiday, white goods, car repairs and the list could go on. Nifty Loans offers quality personal loans for everyday Australians. We, unfortunately, do not offer any no-interest loan schemes. As we assess each application we do adhere to our responsible lending policy.

Nifty Australia

At Nifty Australia we are proud to be your local lender. We love helping Aussies get the cash they need when they need it. Our team understands that when you’re in a tricky situation there is no time to waste. We do our best to cut the waiting time and deliver speedy outcomes on personal loan applications. Consequently, we do not claim guaranteed approval for every single applicant – that would be unrealistic. However, we do our best to find our applicants a compatible loan product, however, we will always be honest if this is not possible. Our team doesn’t want to waste your time.

When you submit an application with Nifty you can rest easy knowing that you are in safe hands. Our team abides strictly by ASICS Code of Responsible Lending. What is responsible lending? Basically, it means we will never loan applicants money that we believe they can not repay. Responsible lending also means we need to conduct adequate checks to ensure the loan product we are matching our applicants with is responsible. The Nifty team wants to promote financial health and well-being. We want to do our best to get you on the road to financial freedom. We don’t want to see you drowning in an ocean of debt! Our team is here to make the whole process much easier. So, if you have any questions at all we encourage you to get in touch!

Does Nifty Offer Small Personal Loan Low Interest?

If you’ve been googling ‘small cash loans low interest’ or ‘loans with small interest rates’ it is important to highlight that Nifty does not claim to offer these types of loans. At Nifty, we are all about competitive rates for small amount loans, however, do not advertise ‘small personal loan low interest’. When you apply for a small loan with Nifty our team will discuss how our interest rates and fees work and do their best to match you with a loan product that is right for your individual circumstances. If you have any questions regarding our interest rates feel free to get in touch!

Loan TypeProvider
No Interest LoanNo Interest Loans Scheme (NILS)
Low Interest LoanGood Shepard Micro Finance
Small Personal LoanNifty Loans

How Do We View Bad Credit?

Worried that bad credit will stand in your way when it comes to a personal loan? Well, lucky for you, there is no need to be. At Nifty, we have revolutionised the way we look at poor credit. Our team understands that mistakes happen. People and circumstances change. So, we look deeper. Our team takes a look at your employment status, income and regular expenses in order to get a better idea of whether or not you will be able to repay the loan. We understand that bad credit can hang around for up to 7 years – that’s a long time. So, when you apply with Nifty, you can be guaranteed a fair go regardless of your credit score.

Who Can Apply?

So, now you know a little more about Nifty, here’s who is eligible to apply for a personal loan with us:

  • You must have an active mobile number and email address
  • Applicants must be over the age of 18
  • A regular income must have been deposited into your own personal bank account for the last three months
  • Applicants must have internet banking set up


When you apply with Nifty, we like to keep things as simple and straight forward as possible. Our team will only ask you to provide the essentials when it comes to documentation. Here’s what you’ll need to show us:

  • Personal info (name, D.O.B etc.)
  • Your internet banking details
  • The reason you are applying for a loan
  • Your MyGov details (if you receive Centrelink benefits)
  • Your employment details and employer contact info

Internet Banking

Wondering why you’ll need to provide us with your internet banking details? Well, it’s pretty simple. As we’ve mentioned, our team looks at more than just credit during the assessment process. We use online banking details to get a better idea of your regular spending habits, income and direct deposits. This gives us a better idea as to whether or not you have the means to repay the loan. There is no need to stress though, we won’t actually view your real account. Our team looks at read-only copies of your bank statements. Nifty uses the latest in safe banking technology, that means your information is always encrypted. Passwords and personal information will never be accessible.

No Hidden Fees Or Charges

At Nifty, we believe in 100% transparency. That means we will never keep any of our fees or charges hidden from you and they will always be easily readable in your contract. Our team is here to make your life easier. That means we want to give you the best chance possible to repay your loan on time and without incurring any extra fees or charges. We encourage you to read over your contract carefully before signing. It is important to make yourself aware of any possible fees or charges you could incur for late or failed payment. If you have any questions regarding fees or charges it is important you get in touch with a member of the team.

100% Online

Nifty is proud to be 100% online. We love how easy our application process is for our customers. You can apply for a personal loan wherever you are and whenever you like. All you need is an internet connection – the application form could even be completed on your smartphone. If you choose to submit an application during regular AEST business hours our team could have an outcome for you within 60 minutes. The entire process from application to approval is all online. That means you won’t even have to leave the house. There is no need to fill out long complicated paper forms.

Our team is all about speed and convenience. You can be guaranteed we will do our best to get back to you as soon as possible with an outcome. It is important to remember, however, that Nifty does not claim to offer ‘small personal loan low interest’, ‘small cash loans low interest’ or ‘loans with small interest rates’. We could, however, offer you a fair and reasonable rate on a personal loan.

Apply Today

Are you ready to get started with an application? Here’s how:

Step 1

To get started, all you need to do is scroll up and use our loan calculator to select a loan amount and repayment period. When you’re happy just hit ‘apply now’.

Step 2

If you wish to proceed with an application you will be directed straight to our full online application form. This could only take you a matter of minutes to complete. Once you’ve finished just hit submit and our team will start the hard work. We’ll access your application and get back to you as soon as possible with an outcome.

Step 3

If your application is successful a member of our team will be in touch. We’ll send over a contract for you to review and sign. It is important you read over your contract and make yourself aware of any fees or charges that could incur for late or failed payment. When you’re happy simply sign and send it back to us.

Step 4

Once we receive your signed contract our team will transfer the cash straight to your account. If you have an NPP enabled bank account, you should receive the funds instantly! The Nifty team does their best to get you the cash as soon as possible, however, if not on the same day, the funds will be in your account overnight at the latest.

Ready to Apply for a Personal Loan?

Then, just scroll up, find our loan calculator, and select how much you wish to borrow and for how long. Once you are happy with your proposed loan terms, just click the ‘apply now’ button and you’re on your way to the loan you need.

Nifty is 100% online, so that means our team is at your fingertips. You can apply whenever you like and wherever you like. Our team is all about convenience and ease. We want to make it as easy as possible for you to apply for a personal loan. Let us show you how easy it could be to access a fair rate on a small personal loan today!

What are interest-only loans? Find out here


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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** 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.