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What is the difference between Nimble's Small Loans and Medium Loans?

Nimble offers two types of loans under the National Consumer Credit Protection Act 2009 (Cth), namely a 'small amount credit contract' (this is Nimble's Small Loan) and a 'medium amount credit contract' (this is Nimble's Medium Loan).

Below are some of the differences between Nimble's Small Loans and Medium Loans.

Small Loans

  • Loan amount: $300 to $2,000
  • Loan term: up to 1 year
  • Fees and charges: If the principal amount you borrow is between $300 - $2,000 you'll pay:
    • Establishment fee: 20% of the principal amount
    • Monthly loan fee: 4% of the principal a month

Medium Loans

  • Loan amount: $2,001 to $5,000
  • Loan term: up to 2 years
  • Fees and charges: If the principal amount you borrow is between $2,001 - $5,000 you'll pay:
    • Establishment fee: $400
    • Interest charges based on the Annual Percentage Rate (APR): 47.6158%
    • Comparison Rate*: 65.6597% p.a.

*This comparison rate is based on our Medium Loan for an amount of $2,500 over 2 years and a $400 establishment fee.

WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Nimble does not offer loans for $2,500 over a term of 2 years.

See our full Fee Statement for fee details.