Online Payday Loans

The fastest, easiest way to apply for a payday loan is online, and Savvy can find the best lenders for your needs.

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Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on September 12th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

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$500
$50,000


Paid in 60 mins if approved*
Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on September 12th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Don’t miss out; get an online payday loan

Online payday loans are designed for life in the 21st century. For borrowers who need to tackle an unplanned cost fast, they utilise secure internet technology to make that happen. When you don’t want to miss that killer flash internet sale offer, online payday loans are arranged in a flash too. The fastest way to arrange one is with Savvy, and you can customise your online payday loan loan to suit your needs.

Qualify for an online payday loan with Savvy

With all borrowing, choosing the right lender for you is your ticket to an easy application, and it’s the best way to qualify for a payday loan too. At Savvy, we’ve matched thousands of Aussies with their ideal lender over the years. It’s simple – we’ll look at your needs, situation, and if you’ve had past credit problems before quickly connecting you with the best online payday loan lender.

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Why apply for a small loan with Savvy?

How online payday loans work and how to apply

Get your best online payday loan provider

Via the Savvy website, and you’ll get paired to the best lender for your situation. We’ll take things like your borrowing history, age, loan amount, and repayment preferences into account – which means you’re far more likely to qualify for a payday loan when you apply through Savvy. We’ll only ask you for a few necessary details before connecting you directly with the ideal loan provider. The whole process is pretty seamless – and painless too.

The application process is convenient

Applications happen fully online. You’ll just need one form of ID, proof of address, payslips if you’re employed, and a Centrelink Income Statement if you get benefits. You can grant access to your bank statements online or upload copies with your other documents. You’ll be able to fill out the provider’s form via the web too – which doesn’t take long – and then simply sit back and wait for your confirmation of approval.

Online payday loan fees are fixed

In Australia, establishment fees can’t exceed $400, while monthly fees cannot be higher than 48% of your loan amount over the course of 12 months. It’s shorter-term borrowing, so on a month-by-month basis, it’s more expensive than a personal loan. However, most Aussies use online payday loans when they want to pay money back more quickly – and there are no early repayment fees either.

Online payday loan funding is fast

In Australia, lenders are required by law to fulfill responsible lending rules. They’ll look at your application and documents to make sure you can afford repayments comfortably. As soon as your online payday loan gets approved, you’ll be able to sign the agreement that the loan provider sends digitally. After that, it’s just a case of waiting for funds to get paid directly into your bank account – which you’ll get asked to nominate during your application. Lenders have different policies and cut-offs for the timing of transfers – and that’s something Savvy will consider when finding you a provider.

You can use an online payday loan for almost anything

Once you’ve received your payday loan funds, there are no limits to what you can use them for. Many Australians who work casually or are self-employed use payday loans to cover gaps in their cash flow. Others use payday loans to move house and pay rental bonds. You can even use a payday loan for a holiday, the festive season, or take a trip to the zoo. Online payday loans are intended to be an option when you need flexibility and quicker repayment options. Terms can get set between just 16 days and two years.

Savvy answers your questions about online payday loans

Can anyone apply for an online payday loan?

You’ll need to be 18 or over and a resident or citizen to apply. Lenders need to say a regular form of income that doesn’t necessarily have to be wages. Payday loans for Centrelink borrowers have slightly different requirements but Savvy partners with lenders who can help.

How much can I borrow with an online payday loan?

Australian online payday loan lenders offer options for borrowing anything between $2,050 and $5,000 – making them a great short and medium-term choice. If you’re looking to borrow over more than two years, a personal loan might be a better way.

How do online payday loan providers assess applications?

Primarily, your borrowing has to be affordable. The main reason lenders look at your bank statement is to determine your income and spending. They also ask for 90 day’s worth of statements, so they know your earnings are regular. Providers will look at what’s left each week or month after you’ve paid bills, for food and rent, and existing debt like credit cards. If you can afford to repay the amount you asked to borrow, you’ll likely get a yes. Remember, though, that payday loan applicants with two or more existing forms of shorter-term borrowing will probably get a refusal.

What are the alternatives to an online payday loan?

If you have been discharged from a bankruptcy and have a clean financial record for over 18 months, you may apply.

What if I’m late with or miss an online payday loan payment?

It’s essential to contact your credit provider as soon as you realise your problem. It’s in nobody’s interest that you experience hardship, so most loan providers will do their best to help. All lenders charge fees for missed and late repayments, so it’s best to budget and avoid that if you can.

When might payday loan borrowing be a problem?

It’s important to borrow responsibly, and Savvy recommends you always think carefully about taking on debt – even when it’s a short-term online payday loan. Make sure to budget carefully and allow some contingency for emergencies. That way, payday loans can be a great resource when you need them. Don’t repeatedly borrow to cover basic daily living expenses. If you find yourself doing that and consistently struggling to keep up with repayments, it’s a good idea to get professional advice about debt – before you apply for another loan.

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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.