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.
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
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.