Savvy makes instant online approval on payday loans possible.
Fact checked
Fact checked
If your credit rating has seen better days and you want a payday loan, you may think ‘no credit check loans’ are your only option, but these aren’t offered by reputable lenders. Fortunately, Savvy can help you get fast approval on loans from $2,050, even with bad credit.
Our flexible partnered lenders focus on what you can currently afford, rather than your credit score. If you’re looking for another shot at finance, apply for a payday loan with us today.
No – you won’t be able to get approval on a payday loan with no credit check when you apply through a reputable lender. Lenders are obliged to run credit checks on all applications as part of their responsible lending requirements. However, it’s important to note that a bad credit score isn’t pivotal when you’re applying for a payday loan. If you’re searching for ‘no credit check’ loans because you’re worried about not getting approved, you needn’t stress.
Our lending partners will still run a credit check, but your score doesn’t have a great deal of impact on your chances of approval compared to other types of finance, even if it's very bad. This check is designed more to give a lender a clearer picture of your wider borrowing history and see if there are any outstanding loans or recent defaults which may hinder your ability to repay a loan.
You can be granted instant approval once you’ve submitted an initial application online. This is more of a pre-approval ahead of your application undergoing some standard formal checks of your borrowing history and financials by your lender.
Keeping your documents close by, applying early and having a strong application can help speed up approval when you apply for your payday loan online. By having all the documentation you need saved on your computer or phone when commencing your application, you can potentially avoid delays caused by your lender asking for missing documents. However, you’re guaranteed to receive an instant outcome once you submit your initial application, with formal approval depending on a check of your details, documents and credit history.
While the majority of lenders allow you to apply online 24/7, they don’t operate around the clock, so it’s unlikely you’ll be able to get approved or your money paid out on a weekend. Applying early in the day and week during business hours will reduce the likelihood of the process dragging over into the next day or over a weekend. For instance, applying on a Monday morning will give you a better chance of same-day approval compared to Friday night.
However, perhaps the best way to maximise the speed of your application is by putting together a strong application. Showing your lender that you’re applying comfortably within your means will create fewer doubts in their mind about you being able to afford the repayments on your loan. Earning a stable income, having some savings and keeping on top of any other loans, such as your mortgage or car repayments, may also help.
You can borrow between $2,050 and $5,000 with a quick payday cash loan, although the amount you’re approved for is conditional on your borrowing power. Several factors come into play when determining this: earning a higher income, having fewer expenses and paying off active debts can all boost the amount you’re able to borrow. Short-term lenders will check this as part of your application, but it’s worth having a rough idea of your financial limits to avoid overreaching.
However, even if you’re capable of borrowing a large sum, applying for a smaller amount can boost your chances of approval. You may want to consider putting some of the savings you have available towards your purchase, payment or investment, which lowers your lender’s risk and reduces your overall fees. For example, if you borrowed $2,500 instead of $3,000, you’d save almost $750 throughout your 12-month agreement.
No matter the time of day or week, you can complete your small loan application with us online.
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
Disclaimer:
The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.
For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.
Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
