Payday Loans for Bad Credit Instant Approval | Nifty Loans

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Fast Personal Loan

up to $5,000

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for cars over $10,000

Personal Loan

Car Loan

I want to borrow $1,000

For loans over $5,000 we recommend utilising your car as security.

Paid back over 9Months

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Fast Personal Loans

  • Smart and quick application form, which can be completed in minutes
  • 70% of applicants receive an outcome instantly
  • For applications that do not receive instant outcome, most receive a final outcome within 60 minutes!*

*During normal business hours.

Payday Loans For Bad Credit Instant Approval

What are payday loans? 

If you have been searching for ‘payday loans bad credit instant approval’, you’re likely looking for some fast, short-term finance. As the name suggests, a ‘payday loan’ is a loan that is repaid in full on your next payday. This could be helpful if you are paid fortnightly or monthly, and an unexpected bill has come up that you simply cannot fund until your next payday. 

Unfortunately, ‘payday loans’ have been illegal in Australia since 2013. However, a personal loan functions very similarly. Personal loans are small amount loans that can be used for all kinds of purposes. They are often great for a fast cash fix and are as close to ‘instant loans’ that you can find in Australia. So, stop your search for ‘payday loans for bad credit instant approval’ and consider a personal loan with Nifty.

An easy alternative to payday loans

Personal loans are quite similar to payday loans in nature, except they give the borrower extra breathing room. Instead of having to repay their loan in just a few weeks, personal loan repayment terms can range from 6 months to a few years (depending on how much you borrow).

Nifty offers fast cash loans from $300 to $10,000 with loan terms ranging up to 24 months. This enables you to comfortably manage your repayments and other expenses without having to quickly source money to repay your ‘payday loan.’ 

Can I get a ‘payday loan’ with bad credit? 

Finding a personal loan with a bad credit rating can be a challenge. Often, traditional lenders like banks look at a poor credit score and consider the borrower ‘unlendable’. Have you been searching for ‘no credit check payday loans’? While we cannot offer payday loans no credit check, we do offer bad credit loans

At Nifty, we will take a look at your financial situation as a whole before deciding whether a personal loan is right for you. While we do conduct credit checks, we will also look at things like a bank statement to see if you can realistically repay your loan based on your income and spending habits. 

What can I use a personal loan for?

There are an abundance of reasons you may consider taking out a personal loan. Whether it is an emergency medical expense or a much-needed holiday, we may have a personal loan option to suit your needs. Here are some of the most common reasons people take out personal loans with Nifty:

  • Taking a mini break
  • To buy a new or used car
  • Tidy up some of those pesky bills
  • Update your home decor
  • Upgrade your bathroom or kitchen
  • Emergency medical bills

Am I eligible?

If you are considering applying for a personal loan with Nifty, we have a few eligibility criteria all of our applicants must meet. Please ensure you meet all of these criteria before you apply:

  • You are at least 18 years old
  • You are an Australian citizen or permanent resident
  • You have had a consistent income into your bank account for the last 90 days
  • You have an active mobile number and email address
  • You have internet banking set up

How to apply

Are you ready to receive an advance? ‘Payday loans for bad credit instant approval’ can be a thing of the past; apply for a personal loan with us following these three simple steps. It is easy to complete our loan application with our 100% online, paperwork free application process. 

Step 1: Apply online

Use your loan slider to select your loan amount and click ‘Apply Now’. This will then prompt you to fill out the rest of our application, which could take you less than 10 minutes.

Step 2: We assess your application

Once we have received your completed application, our team will begin assessing your request. If you apply within our business hours, we may be able to get back to you with an outcome within 60 minutes*.

Step 3: Receive your money

If you’re approved for your loan, we will send you a copy of your loan agreement for you to review and sign. This will clearly state your repayment terms and any terms and conditions that may apply to you. When you’re happy, e-sign the agreement and send it back to us.

When we have received your signed contract, we will transfer your cash straight to your bank account. You could have your cash within just 60 seconds** (depending on which bank you are with).

FAQs

Do you still have questions about our personal loans? These are some of our most frequently asked questions and answers.

I’m on Centrelink, can I apply for a personal loan?

We consider most government benefits as regular income. As long as you have been receiving your Centrelink payments for the last 90 days and meet the rest of our eligibility requirements, we may be able to provide you with a personal loan.

Why do you need to look at my bank statements?

We use encrypted third-party software to look at a digital copy of your bank statements. This is to get an in-depth understanding of your finances to ensure that you will be able to afford your loan repayments. We engage in responsible lending as required by ASIC, so we will never lend you money you cannot repay. 

How much can I borrow?

At Nifty, we offer three categories of personal loans: small loans, medium loans and large loans. Small loans are unsecured loans for amounts between $300 and $2,000; medium secured loans are from $2,001 to $4,600; and large secured loans are for amounts from $5,000 to $10,000. For a more detailed description of our loan options, please refer to our costs page.

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Andy Andy

AUTHORITATIVE SOURCE

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:
$5,000
Terms:
9 - 24 months
Establishment fee:
Variable
Monthly Fee:
$0
APR:
21.24%
Comparison Rate:
48%**
View Example
Loan amounts:
$5,000
Terms:
18 months, (78 weekly repayments)
Establishment fee and Total Interest:
$1,897.54
Total payable:
$6,897.54
Weekly installments:
$88.43
View Loan Details

Medium Loans

Medium Loan Example

$2,001 - $4,600

Loan amounts:
$2,001 - $4,600
Terms:
9 - 24 months
Establishment fee:
$400
Monthly Fee:
$0
APR:
47.8%
Comparison Rate:
65.86%**
View Example
Loan amounts:
$2,500
Terms:
24 Months, (104 weekly repayments)
Establishment fee:
$400
Total other fees:
$1,609.44 (reducing interest)
Total payable:
$4,509.44
Weekly installments:
$43.36
View Loan Details

Small Loans

Small Loan Example

$300 - $2,000

Loan amounts:
$300 - $2,000
Terms:
6 - 9 months
Establishment fee:
20%
Monthly Fee:
4%
APR:
N / A *
Comparison Rate:
138.37%**
View Example
Loan amount:
$1,000
Terms:
6 Months, (24 weekly repayments
Establishment fee:
$200
Total other fees:
$240
Total payable:
$1,440
Weekly installments:
$60
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.