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: $2,050 to $5,000

  • Loan term: up to 2 years

  • Fees and charges: If the principal amount you borrow is between $2,050 - $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.

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

See our full Fee Statement for fee details.

The information on this website is general in nature and does not take into account your objectives, financial situation or needs. Terms, conditions, fees and charges apply, and are subject to change. Applications are subject to Nimble’s credit approval criteria. Redraw not available.

For our Small Personal Loans of $2,000 or less, an APR (Annual Percentage Rate) doesn't apply. These loans are fee-based only, and so they don't have an APR. The establishment fee is 20% of the amount borrowed and the monthly fee is 4% of the amount borrowed.

For our Medium Personal Loans between $2,050 and $5,000, the Annual Percentage Rate (APR) is 47.6158% (Comparison rate 65.6597% p.a.) and there is a $400 Establishment Fee. For our Medium Loans between $5,050 and $10,000, the Annual Percentage Rate (APR) is 47.6158% (Comparison rate 47.6158%) and there is no Establishment Fee.  

**The comparison rate for loans between $2,050 and $5,000 is based on an unsecured loan for an amount of $2,500 over 2 years and a $400 establishment fee, and the comparison rate for loans between $5,050 and $10,000 is based on an unsecured loan for an amount of $10,000 over 3 years and a $0 establishment fee. Nimble may not offer loans for these amounts over these terms. See our full Fee statement for fee details.

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.

Warning about borrowing