Instant Cash Payday Loans

Need cash? Get instant approval on a payday loan with Savvy today.

Apply in less than 10 minutes.

Last updated on July 28th, 2022 at 04:57 pm by Kurtis Eichler

Get an instant cash payday loan today

When you need some urgent cash to get you through a tight period, you can apply with Savvy. We partner with reputable lenders to help you get an instant outcome on your payday loan application.

Applying for a loan is fast and easy with our convenient online process, allowing you to apply for cash from your phone or computer. Start the application process with Savvy now to help you access the funds you need before you know it.

How do I get instant approval on a cash payday loan?

Everyone who applies with Savvy for a cash payday loan receives an instant outcome on their application. If you’re instantly approved, you can get formal approval and funding soon after, on the same day in most cases.

After you select your payday loan amount and why you need it, you can start putting together your initial application. This relatively simple process should take about ten minutes to complete. The details your lender will need include:

  1. Personal details such as your date of birth, full name and contact details
  2. Living status and residential address, including how much you pay each month in either rent/board/mortgage
  3. Employment information, including your job status, title, tenure and place of work
  4. Income details such as how much you earn after tax, frequency of your pay and your next payday
  5. Whether Centrelink makes up more than half of your income

Your lender must also verify your identity before making an instant decision. They’ll likely request one or two of the following:

  1. Australian driver’s licence or passport
  2. Medicare or proof of age card

If you don’t have either or a mix of these, you can supply the following:

  1. Birth or citizenship certificate
  2. Council rates notice or utility bill
  3. Recent tax officer notice of assessment
  4. International driver’s license or passport

Once you upload these details to the secure portal, your application can be submitted. If you’re instantly approved, your lender will then run credit and income checks to consider you for formal approval.

Remember to triple-check that you qualify before you start your loan application. The eligibility criteria for each lender are generally very similar and will most likely include:

  1. Over 18 years of age
  2. A permanent Australian resident
  3. Earning a regular income
  4. Active mobile number and email
  5. Access to 90 days of bank statements via internet banking

How much will my payday loan cost?

When you take out a payday loan, you’ll pay a few fixed fees on top of your regular repayments. How much these end up costing you depends on the time you take to repay your loan and how much money you borrow.

Loans come with a once-off establishment fee (which is split evenly across your loan repayments) and a rolling monthly fee. Fees are calculated differently depending on how large your loan is.

Loans from $300 to $2,000

  • The establishment fee is charged at 20% of your loan amount.
  • Monthly fees are charged at 4% per month.

Loans from $2,001 to $5,000

  • A flat establishment fee of $400 is charged.
  • Monthly fees are capped at 48% for 12 months.

Choosing a shorter term will mean you’ll pay more for your loan in regular repayments but save money on monthly fees. The table below outlines how much you could save on a $3,000 loan by taking it out over a shorter term.

Loan term Set-up fee Monthly fee Monthly repayment Total loan cost Total loan saving
18 months
1 x $400
18 x $120
15 months
1 x $400
15 x $120
12 months
1 x $400
12 x $120

How can I use my instant cash payday loan?

Whether you need to clear some urgent bills or cover the cost of your car’s repairs, payday advances are incredibly versatile in terms of how you can spend them.

Before you start your quick loan application, you’ll be asked to select a list of valid reasons why you need your loan. Some of the options you have include:

  1. Vehicle costs: Pay for any repairs to your vehicle to get it back on the road fast. You can also use your loan to pay for your vehicle registration.
  2. Medical procedures: Require an urgent trip to the dentist? You can cover the cost of the hefty bill with a loan.
  3. Utility bills: Take the sting out of those costly power and water bills and use a loan to repay them over manageable instalments.
  4. Home maintenance: If you’ve got some jobs around the house but find yourself scratching around to pay for them, you can use a same-day loan to pay for them.
  5. New household appliances: Has your fridge packed it in? Is the washing machine on the blink? Replace them and pay for new ones with a payday loan.

While these loans are highly flexible in how they can be spent, lenders won’t allow you to use a loan to repay another outstanding payday loan.

Frequently asked payday cash loan questions

What repayment options will I have on my payday loan?

You can take up to one or two years to repay your quick payday cash loan, depending on how much you borrow. Loans up to $2,000 come with a term range between 16 days and one year, while larger loans enable you to stretch out your repayments over up to two years. In addition, cash loan financiers don’t charge early repayment fees if you decide to wrap your loan up before the end of your term, which can help you save a substantial amount overall.

Can I get a loan paid out on a Saturday or Sunday?

Yes – some lenders on the market offer approvals and payouts at the weekend. When you apply with Savvy, we can connect you to a lending partner who offers Saturday and Sunday payouts. However, it’s important to remember that while your funds can be released on the weekend, bank transfer speeds are generally slower outside of business hours, so there may be a delay in receiving them.

Can I get a quick cash loan with no credit check?

You won’t be able to get a loan from a reputable lender without a credit check. These credible lenders are bound by responsible lending obligations and don’t offer so-called ‘no credit check’ loans. If you’re worried a bad credit score will hold you back, don’t fret. Even a very bad credit score is unlikely to significantly impact your approval chances.

If I’m unemployed, can I still get a same-day cash loan?

Yes – you can get a loan if you’re unemployed, provided you’re still earning a steady income. Several income streams can be factored towards your loan, such as fixed Centrelink payments like aged, disability or veterans’ pensions. However, temporary measures such as JobSeeker can’t be factored in if they’re your only source of income.

Can I apply if I’m not working full-time?

Yes – you can get a loan regardless of whether you’re working full-time, part-time, casually or as a sole trader. Lenders are interested in whether you earn enough to cover your expected repayments, so as long as you can show that you’re able to afford your repayments, you can be approved.