Three-Month Payday Loans

Need a short loan? Apply for a three-month payday loan with Savvy.

Apply in less than 10 minutes.

Last updated on July 15th, 2022 at 04:42 pm by Kurtis Eichler

Get a three-month payday loan with Savvy

Short-term payday loans can be handy when you need money for home or vehicle maintenance, have to pay a few urgent bills or anything in between. When you turn to Savvy, we can help you get a loan for just three months to help you cover a range of costs.

By applying with us, you’ll be connected to one of our lending partners who offer flexible loan repayment options. It’s super easy to apply, so get the process started with Savvy today.

Can I get a payday loan over three months?

Yes – you can get a payday loan with a repayment term of three months. When you apply for a payday loan online, you’ll be given the option of borrowing anywhere from $300 to $5,000. You’ll then be given the choice of repayment terms depending on the size of that loan:

  • Loans between $300 and $2,000 come with repayment terms of between 16 days and one year
  • Loans between $2,001 and $5,000 come with repayment terms of between 16 days and two years 

Once you’ve chosen your loan amount and selected the reason you need it, you can start the initial application. This doesn’t take long to complete and involves sharing some personal information and employment details, such as how long you’ve had your current job and how much you earn after tax. After these have been supplied, you’ll receive an instant outcome on your quick cash loan application.

If you’re instantly approved, your lender will proceed to the next stage of the process. This involves confirming the information you’ve provided in the initial application through a no-fuss credit check. They’ll also review 90 days of online bank statements to confirm your income, recent spending and regular expenses. If all of these checks go smoothly, you should receive formal loan approval very soon after.

How much will my three-month loan cost me?

These types of finance come with fixed fees, but how much your three-month loan ends up costing you will come down to how much money you intend to borrow.

These short-term loans come with two types of fees: an establishment fee and a monthly fee. The way these apply to your loan are as followed:

Borrowing range Establishment fee Monthly fee
$300 to $2,000
Calculated at 20% of your borrowing amount.
Calculated at 4% of your amount each month.
$2,001 to $5,000
A fixed fee of $400 applies.
Monthly fees are capped at 48% for 12 months.

The size of your loan will ultimately decide how these apply. Lenders will take into account the size of your loan repayments when considering you for approval to ensure they are manageable on your current income. Read our table to see how these fees apply to loans of different sizes:

Loan size Loan term Set-up cost Monthly fees Monthly repayment Total cost
3 months
1 x $60
3 x $12
3 x $132
3 months
1 x $100
3 x $20
3 x $220
3 months
1 x $200
3 x $40
3 x $440
3 months
1 x $300
3 x $60
3 x $660
3 months
1 x $300
3 x $60
3 x $660

How quickly can I receive my payday loan funds?

In the majority of cases, you should receive your payday loan funds on the same day you’re approved. However, this will depend on when you apply and how fast your bank processes payments.

Direct lenders will release your funds soon after your loan contract is signed and returned. While your money should be available in your account on the same day in most cases, this may ultimately depend on your bank’s transfer speeds. These vary from bank to bank, although most will process payments made before 6pm on the same day. If there is a delay, though, you’ll have the peace of mind that you’ll receive your money very soon after.

Direct lenders won’t approve and fund applications 24/7, so applying early can improve your chances of getting same-day approval. By applying earlier in the day and week, there’s less of a chance of the application process running overnight or into a weekend.

If you do find yourself in need of some emergency cash over the weekend, though, some lenders offer weekend payouts in Australia. You can apply for a loan on the weekend with Savvy and connect with one of our lenders who are open on Saturdays and Sundays.

Got a three-month payday loan question? We have the answers

How do I qualify for a three-month payday loan?

Lenders have a series of eligibility criteria you’ll need to satisfy to apply for a loan. These are generally the same across the loan market and include:

  • Age: At least 18 years old
  • Income: Earning a steady income sufficient to comfortably support your repayments
  • Residency: A permanent Australian resident or citizen
  • Debt: No active payday loans
  • Contact: Active phone number and email address
  • Internet banking: Access to 90 days of bank statements
What documents do I need when I apply for my loan?

If you’re chasing some cash today, you’ll be required to upload several documents to your lender’s portal to verify your identity. Your lender will generally ask for two of the following:

  • An Australian driver’s licence or passport
  • A Medicare card


If you’re unable to supply these, lenders will usually accept a mix of the following:

  • A birth or citizenship certificate
  • A pension card or Medicare card
  • A council rates notice or utility bill
  • An overseas driver’s licence
  • A tax office notice of assessment
  • A proof of age card
Can I apply for a short payday loan if I’m unemployed?

Yes – you can apply for a loan if you’re currently out of work, so long as you’re earning some form of stable income. Investment revenue, superannuation withdrawals and fixed Centrelink benefits all qualify as forms of stable income. Eligible Centrelink benefits include:

  • Aged, disability or veterans’ pension
  • Carers payment
  • Child care subsidy
  • Family Tax Benefit Part A or B
  • Single parent payment
If I have bad credit, can I still apply for a payday loan?

Yes – you can get a payday loan with bad credit. Unlike the big banks or larger lenders, our partner lenders will run a no-hassle credit check to look at your wider borrowing history, rather than purely focusing on your score, when considering you for a loan. This allows them to get a crystal-clear picture of your credit track record.

Can I apply if I’m self-employed?

Yes – you can apply if you work for yourself and earn a stable income. Direct lenders will review your online bank statements to check you’re earning a consistent stream of income when considering you for a loan and may conduct further checks to ensure your business is doing well enough to support you over the next three months.