Payday Loan Today

Apply with Savvy and get a payday loan today from $300.

Apply in less than 10 minutes.

Last updated on August 19th, 2022 at 09:39 am by Kurtis Eichler

Get your payday loan approved today

Finding yourself short of cash can be a real headache, particularly if you have urgent costs to cover. If you’re looking for a quick payday loan today, Savvy can help.

By partnering with flexible lenders, we can help you get your loan from $300 to $5,000 approved and funded as soon as the same day you apply, so get the best chance at finance and apply for a payday loan with Savvy today.

Can I get a payday loan today?

Yes – in most cases, you can be approved and funded on the same day when you apply for a payday loan through Savvy if you need help with money urgently. This will ultimately come down to several factors, though, such as your financial circumstances and the strength of your application. Payday lenders assess applications differently from big banks, preferring to focus on your current finances than a bad credit score so you can get a fast outcome.

When you apply for a loan online, the process will be split into two phases: instant outcome and formal approval. Everyone receives an instant decision on their application during this initial stage, so you won’t have to wait around for an outcome. This will be given once you provide your lender with your initial application.

If you’re pre-approved, you could potentially be offered formal approval soon after. Your lender will run a few checks to verify the information provided in your initial application. They’ll also check to make sure you don’t have multiple cash loans on your credit file.

You’ll receive a digital loan contract if you’re formally approved. Once you sign and return the contract, your loan funds can be released. Depending on your bank’s transfer and cut-off times, your funds should hit your account within the same day. From time to time, lenders may require a few more details from applicants before giving them the green light.

If you need cash now, there are a few things you can do to potentially speed up your approval. Knowing how much you can afford to borrow before you apply is one way to hasten your approval, as lenders are more likely to approve you if they can see you’ll be able to comfortably afford the repayments.

What documents do I need to provide to get a payday loan?

When you apply for a payday loan online, you’ll be required to submit some documentation to prove your identity. These can be uploaded to a secure online portal. The minimum a direct lender will ask you to provide is a driver’s licence, a passport or a Medicare card, but this can vary from lender to lender.

It’s also important to double-check you qualify for a loan before applying. These eligibility criteria are standard across most lenders but can vary. Generally, you’ll need to meet the following:

  1. Over 18 years old and a permanent Australian resident
  2. Earning a steady income
  3. A working mobile number and email address
  4. Access to your bank accounts online
  5. No active payday loans

There’s no need to supply physical bank statements to verify your income and expenses when applying for an instant cash loan. Direct lenders will instead request access to a read-only copy of your bank statements, via a secure and encrypted portal.

What can I use my payday loan for?

One of the benefits of payday advance loans is that they can be used to cover a wide range of costs, not just those urgent bills that spring up from time to time. Some of the ways you can use your loan include:

Car repairs

Having a set of wheels to get from A to B can be a lifeline if you’re juggling getting to work as well as taking the kids to school. If you run into trouble between payslips and need to repair your vehicle to get back on the road, you can use a payday advance loan.

Home repairs

Got a leaky roof? The front window suffered another cricket ball-related breakage? These types of home repair jobs can be costly if you add them up. You can apply for a loan to cover the costs and get your home back looking shipshape.

New furniture

You can use an instant payday cash loan to purchase new furniture or appliances to take the cost pressure out of updating your living space.

Day-to-day costs

Fallen short of cash a week out from payday? Need cash now to pay for the essentials? Instant payday cash loans can be handy ways to bridge the gap between pay cycles and give your budget some breathing space.

Rental bonds

There are plenty of costs involved in relocating and coming up with a hefty bond for your new pad is one of them. You can use a loan to cover the cost of your bond and pay it off weekly, fortnightly or monthly.

Frequently asked payday loan questions

How long do I get to repay my payday loan?

You can take up to two years to repay your loan, depending on how much you borrow. Loans up to $2,000 come with term limits ranging from 16 days to one year, while those over $2,000 have a maximum repayment term of two years. You’re able to repay your loan early and make extra repayments without incurring additional costs as lenders don’t charge exit or break fees.

Can I get a payday loan with no credit check?

You won’t find ‘no credit check’ loans among reputable lenders. All licenced lenders subject loan applications to a few quick checks as part of their responsible lending obligations. As mentioned, though, your credit score isn’t as important with these types of loans, with lenders looking at your wider borrowing history such as payment track record on similar loans when considering you for approval.

Can I apply for a payday loan if I’m unemployed?

Yes – you just have to be earning some form of regular, consistent income. This can include investment income, superannuation or fixed Centrelink benefits, such as an aged pension or single parent payments. You won’t be eligible if you’re only receiving a temporary payment such as JobSeeker. However, JobSeeker can be used as a low-income subsidy.

Can I get approved for a loan if I’m under a Part IX Debt Agreement?

If you’re currently in a formal arrangement with your creditors to settle what you owe, most lenders won’t approve you for a payday loan. However, there may be lenders on the market who are willing to consider your application.