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Payday Loans

In 2018, the average amount we lent was $812 and people used us for a range of things from booking their dream holiday to emergency repairs on their home.

Two words that make some people grind their teeth. Let’s face it, the term Payday Loans doesn’t exactly have a good reputation. People associate this term with loan sharks, gangsters, hidden fees, and ever-changing terms and conditions.

The truth is that for companies like us - we’re very much the opposite of that. We are transparent about all of our fees, always. We’ve also been around since 2005 and only going from strength to strength, so we’ve done something right!

What is a Payday Loan?

This type of loan is sometimes called a payday advance, salary loan, or small-dollar loan. It's a small, short term unsecured loan. The name is thought to be associated with these types of loans relying heavily on previous payroll or employment records. So if you remove the general fear associated with the term, it’s just another word for Cash Loan or Short Term Loan. People use these loans when they simply haven’t managed to make their budget management work that month or around that time.

What is the Nimble Payday Loan offering?

At Nimble, we take a look at your income and expenses to make a decision on how much we think you can comfortably borrow. This does include looking at your previous payslips, and we do this super quickly and securely with a no-fuss approach. So we can tell you a little about our loans, we’ve created this handy little table below that gives you an overview of our 2 loan types so you can compare Nimble Loans.

Compare Nimble Loans

Loan Feature Small Loan Medium Loan
Establishment Fee 20% of loan amount $400 fee
Loan Amount $300 - $2,000 $2,050 - $5,000
Costs 20% of loan amount + 4% of loan amount each month** Application fee of $400 + 47.6158% p.a. Comparison rate^: 65.6597% p.a.
Loan terms Loan terms 62 days to 4 months 62 days to 22 months
Timing Both Nimble Small and Nimble Medium Loans are offered with fast approval and funds transfer. You could receive your money within 60 minutes if your loan is confirmed before 4:30 pm on a banking day*.

^This comparison rate outlined on this page 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. If you reschedule your repayments after you confirm your loan, additional fees and charges may apply.


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. If you reschedule your repayments after you confirm your loan, additional fees and charges may apply.

It’s useful to have an understanding of the costs and features associated with each of our Nimble Loans. It’s also good to have an idea of how each one works, so we’ve given you some more information on these types of loans below.

The Nimble Small Loan, is this a Payday Loan?

Yes! Just like the Nimble Loan, this unsecured loan is considered a Payday Loan, a Short Term Loan or a Cash Loan. There are many different names given to this type of loan, but largely they all mean the same thing.

This type of loan can help you out with the little things you just didn’t anticipate.

As in the above table, we’re always transparent about our costs and how we work. The Nimble Small Loan amounts range from $5,000 to $2,000 and the loan term is 62 days to four months.

  • We’re fast with this type of loan as we are with all our loans. We offer fast approval and funds transfer.* You could receive your Small Loan within 60 minutes if your loan is confirmed before 4:30 pm on a banking day.

A great benefit of both loan options is the online Member area. You can log in here to check on your loan status, find out when your payments are due and keep an eye on your payment plan.

  • Providing fast Payday Loans doesn’t mean we aren’t here for a chat if you need us- we don’t compromise on our customer care. With this type of loan, and our other Nimble Medium Loan, you can reach out to us at any time. We are easy to contact, and our call centre is based in Australia so we’re always here if you need help with your Nimble Loan.

The Nimble Medium Loan, is this a Payday Loan?

Yes! Just like the Nimble Small Loan. As you would imagine, this type of loan is a little bit different to the Nimble Small Loan.

  • It shouldn’t be shocking to learn that this type of loan gives you access to a larger loan amount. The Nimble Medium Loan allows you to apply for between $2,050 and $5,000
  • Because you are now borrowing larger amounts of money, this means you’ll have a longer repayment term. Like in our smaller loan offering, you can now select repayments to meet your budget and needs. We have terms available for up to 22 months. Loan terms vary depending on your individual circumstances.
  • You’ll still have access to your online Member Area where you can log in to manage your loan and keep up to date with your repayment plan.

How can I get a Payday Loan from Nimble?

Well, it’s all very easy if we do say so ourselves! And we built it to be this way - to be as easy to use as possible and so that you could apply from any device - laptop, tablet or mobile.

Step One
Having done your homework on the types of loans available to you through Nimble, it’s now time to decide how much money you’d like to borrow and for how long. Just login and begin!

Step Two
Next, we’ll have you some pretty basic questions about your identity, and we’ll ask you about your income and expenses.

Step Three
Once we’ve verified your details, most people will get an answer within minutes. Your loan is paid directly into your bank account via bank transfer. Once approved you’ll have the money in under an hour (if confirmed before 4.30pm AEST during banking days).

*Commbank customers are transferred funds within minutes of confirming their loan, 24/7. Customers of other banks or financial institutions, generally have funds transferred within 60 minutes of signing their loan contract between 9:00 am and 4:30 pm AEST on business days. Clearance times are subject to your bank.

What are you waiting for?

FAQs

Can I get a Nimble cash loan if I am on Centrelink?

Being on Centrelink does not automatically rule you out of eligibility when it comes to applying for a short term cash loan. To be eligible for a Nimble loan, you do need to be working though. If you're dependent on Centrelink benefits, we will review your application to see if a Nimble loan is right for you.

Can I get a Nimble cash loan if I have a bad credit history?

Depending on your circumstances or even if you have bad credit or a default on your file, you may still be eligible for a Nimble loan.

We take many factors into consideration when we assess your loan application, including your current situation, whether you are steadily employed and what other money you owe.

We understand your past may not be who you are today so if you have a black mark on your credit history, we may still be able to help.

Are there any hidden costs?

Our costs are crystal clear. Everything you need to know about Nimble cash loans is in plain English and big print. You know upfront exactly what the costs are and there are no sneaky, hidden fees to worry about.

Transparency is one of our core values, and we want you to be 100% confident that you've made the right choice when you apply for a fast cash loan from Nimble.

Feel free to reach out if you have any questions and call us on 133 156, or connect via email - customercare@nimble.com.au

Lending criteria, fees, terms and conditions apply. Commbank and existing Nimble Visa Prepaid Card customers are transferred funds within minutes of confirming their loan, 24/7. Customers of other banks or financial institutions, generally have funds transferred within 60 minutes of signing their loan contract between 9:00am and 4:30pm AEST on business days. Clearance times are subject to your bank. close

Approved borrowers may be eligible for a loan from $300 and up to $5,000. Lending criteria, suitability checks, terms and fees apply. close