How do payday loans work online?

Each online lender or neobank will have its own approach and system to providing a payday loan online, and so you will have to assess each lender as you do your research.

Payday loans online with Nimble are easy and straightforward. We don’t ask you to upload any paperwork or sign anything, and we won’t call you unless we need to. We have designed a very straightforward approach to our application process that you can get an answer on your loan suitability quickly and with ease. 

Nimble was born from the idea that lending needed to be easier for everyone. When we designed our application form, we knew the user needed to come first. There could be no barriers and everything needed to be done from any device - mobile, tablet or phone. We achieved this way back then, and have continued to assess and improve our application process so that our users are always getting the best experience.

We begin by asking you to tell us how much you would like to borrow and for how long. This gives you the ability to personalise your online loan and puts you in the driver’s seat. The goal is that your loan will work for you around your terms. Then we move on to checking your details - your employment and identity. Don’t worry, it’s not a cumbersome process - it’s very easy and there are no hoops of fire to jump through. 

Then we ask you to securely log in to your bank so we can evaluate your recent bank transactions. We do this because it’s the easiest and most straightforward way to understand your financial history. Pending this, you get a decision and – should you be approved – your money will be with you in a short time frame.

Here’s a summary of the above in 3 easy steps:

  1. It’s a super simple application: Just apply online - whether you're on the go, at work, or from the comfort of your home from any device

  2. Get a decision: We’ll work through your application quickly and let you know an answer in a short period of time

  3. If you're approved, get paid within 60 minutes of confirming your loan when you confirm your loan by 4:30 pm AEST during banking days. Depending on your bank.*

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. For our Medium Loans between $10,500 and $25,000, the Annual Percentage Rate (APR) is 29.99% (Comparison rate 29.99%) and there is no Establishment Fee.

*Funds will generally be transferred within 60 minutes of the loan contract being signed between 9:00 am and 4:30 pm AEST on business days. Clearance times are subject to your bank.

Warning about borrowing