30-Day Payday Loans

Get your loan approved today and pay it off within the month.

Apply in less than 10 minutes.

Last updated on August 1st, 2022 at 05:16 pm by Thomas Perrotta

Fast loans from $300 repaid in 30 days

Payday loans are a great way to help you pay for expenses when you’re in a bind or bridge the gap between payments. However, if you only want to take 30 days to repay your debt, you’ll be able to take out a super short-term loan by applying right here with Savvy.

Our flexible lending partners can accommodate small loans repaid within one month if you’re in a position to do so. You can start the application process with us now and get approved before you know it.

Can I get a 30-day payday loan?

Yes – you can get approved for a payday loan in Australia from $300 to $5,000 over a repayment term of just 30 days when you need money now. These loans are offered with potential terms between 16 days and two years (maximum of one year for loans up to $2,000). However, the key to getting approved for a loan to be repaid over such a short span of time is showing your lender that you’re capable of managing your repayments comfortably.

As part of their responsible lending obligations, financiers must be confident in your ability to repay your loan before approving your application. For instance, on a $500 loan with two fortnightly repayments, your lender would have to see that have enough income left over after your expenses are deducted to comfortably support $310 in a given fortnight. If you can show your lender that you’re in strong enough financial position to support the repayments required for a 30-day loan, you can be approved.

How do I apply for a 30-day payday loan?

You can apply for your quick loan right here with Savvy. The process is fast and simple, only taking around ten minutes to fill out your initial application. The steps to follow are:

Fill out your initial application

First and foremost, you’ll need to share some information about yourself as a borrower, such as your income, employment, contact details and living situation (whether you own your home or are renting or boarding). You’ll also need to provide access to 90 days of bank statements and proof of ID, which is typically your driver’s licence (or passport) and Medicare card. Once you have all of this information, you can submit your application.

Receive an instant outcome

From there, you can receive an instant payday loan outcome. If it’s a positive one, your lender will proceed with the application and conduct formal checks on your bank statements and credit history to assess your affordability and confirm all the information you’ve provided is correct.

Receive formal approval and sign your contract

Once they’re happy with your application, you can be offered formal loan approval. Your lender will send you a loan contract to sign soon after which confirms all the details of your agreement, such as its cost and repayments. You can sign this electronically and return it to them.

Have your funds transferred

From there, all that’s left is for your funds to be sent to you. You’ll receive them in your account on the same day you apply in most cases, so you’ll have access to them quickly and begin repaying your debt soon after.

What are the benefits of a 30-day loan term?

There are several key reasons why repaying your cash loan over a short term could be the best option for you. These include:

  • Saving money on fees: payday loans come with an establishment fee (20% of your loan amount, up to $400) and ongoing fees (4% of your loan amount each month, up to 48% per year). By opting for a shorter term, you’ll pay less in monthly fees. For instance, a $1,000 loan repaid over 90 days instead of 30 would cost you $80 more overall.
  • Clearing your debts sooner: by having your loan paid off at a quicker pace, you’ll find it easier to access further funding sooner. It can be difficult for those who are currently repaying a payday loan to access the urgent funding they need, so clearing the debt quicker means you could be eligible to take out another loan should you need funds in a month or two.
  • Capacity for extra repayments: even if you don’t originally take out a 30-day loan, such as if your lender doesn’t believe you’re able to pay it off in that time, you can make additional repayments to have it completed within the month. There aren’t any restrictions on early repayments for these loans, so you could have your loan paid off in less than 30 days.

However, it’s important to note that the major drawback of short-term finance is that the repayments are much higher. A $1,000 loan paid over two fortnights would come with repayments of $620, while taking an extra two fortnights would result in that figure dropping to $320. This isn’t manageable for all borrowers, but it’s best to pay off these loans as soon as you can comfortably manage.

Common 30-day payday loan questions answered

Will I be able to take out a 30-day loan if I’m on Centrelink?

Yes – Centrelink income can be counted as part (or all) of your income on a small loan application, provided that they’re stable and ongoing and enough to support your repayments. For instance, aged and disability pensions can be included on your application, as can carer payments. However, if you’re unemployed and looking for a loan with JobSeeker as your sole source of income, you won’t be approved. 

Are there any loans with no credit checks?

All reputable lenders will conduct a credit check as part of the application process. However, they’re not focused on your credit score itself when doing this, so you won’t have to worry about looking for a ‘no credit check loan’ in Australia even if you have very bad credit. Lenders are more focused on your ability to repay the loan over 30 days than your score.

Can I apply for my loan 24/7?

Yes – because application portals are 100% online, you can apply for a loan at any time of day or night and receive an instant outcome. However, formal approval and funding can only take place during business hours, so if you apply late at night, it may take until the next business day for you to receive your funds.

Am I able to use my loan for my business?

Yes – you can take out a 30-day payday loan for your business. This can be useful for startup businesses who may not qualify for standard commercial financing. Small businesses may also be in a better position to pay off a loan within 30 days if their revenue is solid. You can use this money however you wish across your business, such as a loan to cover urgent repairs or buy new equipment.