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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.

Solar Loans Up To $5,000 – Go Green To Save Money And The Planet

Looking to reduce your electricity costs? 

Increasing electricity bills continue to put high pressure on individual households. If you want to take back control of your energy costs, investing in a solar system for your home can help you budget more effectively. With bright weather (almost) all year round, Australia has the perfect conditions to benefit from a natural source of energy that is available to everyone: The sun. Solar panels help you obtain energy and preserve it for you and your family to use whenever needed and solar loans can help you get there!

Why use your personal cash flow or wait to save enough to make the investment if you can easily use solar loans and make repayments on your terms? Our personal loans are Nifty and give you a maximum amount of freedom to design your financing the way it suits your personal circumstances. We offer solar loans from $300 to $5,000 with a quick outcome and turnaround. You could get an outcome in 60-minutes* if you apply during AEST business hours and you could receive your funds in 60-seconds after you’ve signed your contract**!

For fair loans for Centrelink customers, check out our dedicated page.

Solar loans 

What is solar energy? 

Sunlight is a renewable and green energy source that can be captured and converted into energy. It can be used to power your electronic devices, light up your house, or heat your water like any other source of electricity. You need to install solar panels to collect sunlight and store it as energy for further use. And it’s a nifty way to save money long-term: Sunlight is completely free, so once the initial costs are covered, you won’t have to spend money on energy production anymore. Solar panels are low-maintenance, green and renewable. 

Don’t worry if you don’t have the right amount of cash handy. Nifty solar loans can help you finance your initial investment before you start saving through your electricity bills. 

How does solar energy work?

Solar panels contain multiple photovoltaic cells, better known as solar cells. They are made of semiconductors like silicon and convert sunlight into electricity. They allow particles of light called photons to knock electrons free from atoms, generating a flow of electricity.

Modern solar cells used in domestic installations can convert 20% of the sunlight they absorb into electricity. Some commercial systems have an efficiency rate from up to 40%. However, with advancing technology you can expect systems to become more efficient while dropping in price. While they still produce energy in shady conditions, their conversion is not as effective. Therefore, it’s important to place them in a spot where minimal shade falls onto them. For that reason, most people install them on their roofs but you may have a different place on your property in mind. 

Save money with solar panels

Energy bills have increased over the last decades with more electric devices to run and a higher population density to deal with. As a renewable and sustainable source of energy, the sun is free to use for anyone. Once your installation costs are covered, you will start to see the gains: Your carbon footprint will decrease and so will the costs of your electricity bills. The electricity that’s not being used by your household can be exported into the general system and even make you money. 

While you have to initially invest in solar energy, the maintenance costs are very low. They will occasionally require cleaning and you should ensure that they are not covered or shaded by anything. If installed on your roof, occasional rain showers might even help to clean the panels. Most solar panels carry a 25-years warranty. However, they can last up to 40 years and produce energy just fine. 

Before you even think about the individual pieces, we recommend that you measure how much electricity you use in your house. This can give you a good indication of how much excess energy a solar system can produce for you. Households with a higher amount of self-consumption will benefit more from solar systems. If you work from home or have a pool pump running, your self-consumption can be up to 64%. Do the maths yourself: self-consumed electricity can save you up to 30c per kWh while exported energy only earns you max. 20c per kWh. 

Who is eligible for solar loans?

Fair access to personal finance shouldn’t be a privilege. So if you are wondering if you are eligible for one of our loans, you may be surprised. You still have to tick a few boxes but if you do, you are welcome to apply, even if you’ve got bad credit or receive Centrelink payments. 

  • Be at least 18 years old; 
  • Have an Australian passport or be a Permanent Resident; 
  • Provide an online banking account; 
  • Have an active mobile number and email address. 

How to apply for solar loans?

Here at Nifty Loans, we believe getting a loan should be quick and easy. So that’s what we do. Gone are the days of paperwork and queuing at your bank just to get a loan. Now our online application allows you to apply from anywhere in Australia at any time of the day. 

Step one: Apply online. 

Applying for solar loans is easy and won’t take long. Most people submit our online form in only a few minutes. 

To apply, scroll to the top of this page, choose your loan amount, repayments terms, and the payment frequency (weekly, fortnightly or monthly) and hit “Apply Now”. We will ask for a few more details, et voila: Your application is done. 

Step two: Get an outcome. 

You can relax and wait for us to do the hard work. Our team will thoroughly assess your application with the help of the best technology on the market. We won’t just perform a credit check, we look at the ins and outs to ensure our solar loans are the right option for you. If you apply during AEST office hours, you could get your outcome in just 1 hour!

Step three: Get your money. 

If your application is approved, we will move on quickly. Once we get the green light for your loan, we send your loan contract over, please read it thoroughly before signing. When your signed contract arrives back, we will transfer your money as soon as possible and you are ready to go! 

What to look for when shopping for solar?

When purchasing solar, you always need a system consisting of solar panels, an inverter, and mounting. There are two main types of solar panels that you can install on your roof. Don’t worry about the specifics of solar panel technology though. Mono- and polycrystalline work equally well in Australian climates.

Inverters come as either string inverters or micro-inverters. While a string inverter is about the size of a briefcase, the micro-inverter is the size of a small book. You need one string inverter for your whole system or one micro-inverter per solar panel. We would recommend that you look for good quality in your inverters as they will be constantly under stress and are the first piece to fail after about 15 years. 

Mounting is equally important. It attaches your solar panels to your roof and keeps them secure and in place. 

Will you perform a credit check for solar loans?

Yes, we do. 

But don’t worry if you have bad credit. Your credit history is not all we are looking for. As a responsible lender, it is our duty to check your previous financial history. But we mostly care about your current relationship with money. Unlike some traditional lenders, we won’t judge your suitability based only on your credit score. 

We want to give everyone a fair shot to enable them access to personal finance though. We understand that life sometimes doesn’t go to plan and a mistake from the past shouldn’t affect your financial future. 

I am on Centrelink, can I still apply?

Yes, you can! Some lenders may make applying for a loan difficult for you but receiving Government payments doesn’t reflect your financial situation. We treat Centrelink payments as a regular income, so as long as repayments are affordable for you and you meet our other criteria, you’re welcome to apply. 

How much does it cost to get solar loans?

Your application doesn’t come with any costs. However, there are of course costs that are linked to a personal loan. The overall costs depend on your repayment terms and the interest rate we can offer in your personal case. Of course, we won’t leave you in the dark. Any costs and fees will be stated in your loan contract and we highly recommend that you read it carefully before you sign anything. If you have any further questions about additional costs, you should get in touch with our customer service who will be happy to provide clarity. Otherwise, costs are stated online on our costs page.

How do repayments work?

We keep it simple. Once set up, you won’t have to think about repayments anymore. They are made by direct debit and are usually aligned with your pay cycle. You won’t have to do anything. The money automatically comes out of your account. If you need to make any changes to your repayments at any time, you can contact our team for amendments.

If you want to pay off your loan early, we won’t charge any extra fees. Isn’t that Nifty?! Instead, you may even save money on your interest. However, we may charge a penalty fee if you miss a payment. But we know your financial situation can change and if that’s the case, get in touch as soon as possible. We may be able to work out a solution together. Open communication is key.  

Best practice lending

We love what we do and we do it well if we can say so. And it’s important to us that you have a great experience, too. That’s why we do what we do: 

Responsible lending practice. We won’t lend you money we think you can’t afford to repay because we care. Instead, we assess your situation from all angles to ensure that our loans are suitable and affordable for you. 

Easy and fast online service. Getting a loan doesn’t have to be a hassle anymore. We provide fast online services with a quick outcome to make loans easily accessible when you need it the most. Get nifty! All you need is a smartphone or computer and a few minutes of your day. 

Are you ready to go Nifty?

We are looking forward to helping you go green. Solar loans can support you on your path to renewable and sustainable energy. If you have any further questions, either head to our FAQ section or get in touch with our customer service team. Ask us anything. Our team will answer any open questions for you. Otherwise, if you are ready to apply, head to the top of this page and select your loan amount, loan term, and payment frequency. If you apply during AEST business hours, you could know your outcome within 60 minutes*!

*If you apply during business hours and we don’t require any additional information from you

**If your bank supports NPP transactions

Apply Now

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 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 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 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.