You can apply for a cash loan if you need cash today. Cash loans are offered by payday lenders from $300 to $5,000, who generally require you to meet fewer requirements to get approval compared to other loans. If you need money now, you can apply with Savvy and we’ll connect you to a payday lender with a loan best suited to you. Our streamlined application process allows you to get an instant outcome and approved and paid out as soon as the same day you apply.
To kick start your application, select your loan size and the reason why you need it. Savvy gives you a few options, including medical and vet costs, vehicle expenses and general spending. Once you've done this, you can go about completing your application. This should take roughly ten minutes and includes providing the following details:
- Personal details: Full name, date of birth, contact details
- Employment: Job status, who you work for, the industry you work in and tenure at your current job
- Residency and living costs: Residential address and regular rent/board/mortgage costs
- Income: Earning after tax, frequency of payment and next scheduled payday
- Benefits: Whether Centrelink payments make up half of your income
To complete your initial application, you’ll need to supply your lender with some digital copies of identification (a driver’s licence and Medicare card should suffice, but a passport and proof of age card can also be accepted). Once these are uploaded, you’ll get a decision instantly based on the information you’ve provided.
If you’re instantly approved, your lender will review your information to ensure you can adequately afford your loan through credit and financial checks. If these all go smoothly, you should be offered formal loan approval soon after. Your direct lender should email you a loan contract to sign shortly after your formal approval. Once this is returned, your funds can be released. Usually, these should be available in your account on the same day.
Now and then, lenders require additional information to complete applications. If this does happen, it shouldn’t hold up the process by too much. If you need cash now, try to apply earlier in the day or week. This may improve your chances of getting approval and having your funds transferred on the same day. Remember that once your funds are released, it may also take a few hours to hit your account due to your bank’s transfer times.