Quick Cash Payday Loans

Chasing some quick cash? Get a payday loan with Savvy today. 

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.

$2100
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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.

Do you need to get your car back on the road or pay off some expensive power or phone bills? If you’re in need of some quick, easy cash to get you through a tight spot, you can turn to Savvy. We’ve helped many Australians in need of urgent funds get approval on their payday loan application through our understanding lending partners.

Every stage of the application process is online, letting you get instant outcomes when you apply and allowing for fast depositing of your loan funds if you’re approved. Kick off your application and apply with Savvy today.

How quickly can I get a cash payday loan?

Typically, funds should hit your bank account on the same day you apply for your payday loan. If you tick all the lender’s boxes and get a formal offer for a loan, they should release your money once you sign and return your digital loan contract.

However, this will depend on when you apply online and how fast your bank processes payments. As lenders aren’t open to process applications 24/7, it’s a good idea to apply early in the day or week. This improves your chances of a same-day payday loan approval and payout and will help avoid your loan process dragging out across multiple days.

Transfer speeds also vary depending on who you bank with, with some institutions taking longer than others to process payments. In most cases, if your lender releases your funds during your bank’s business hours, they should be in your account that day. If there’s a delay, though, you have the peace of mind that your money will be in your account very soon.

How soon you get your loan funds can also depend on your financial situation. If your application is a little trickier, it could hold up the approval process as lenders may need more time to assess you or require further documents or information.

How do I apply for a quick cash payday loan?

Applying for payday loan cash with Savvy is fast and easy, as the entire application process is online. Before you get the ball rolling on your loan application, it’s important to check you’re eligible to apply for a loan. The eligibility criteria are generally the same from lender to lender and can be found on your lender’s website. These include:

Requirement Details
Age
Over 18 years old
Residency
Permanent resident or citizen of Australia
Income
Earning a steady income for at least the past 90 days
Debts
No active short-term loans
Contact
An active phone number and email address
Banking
Access to 90 days’ worth of online statements via internet banking

Once you've ticked all the boxes, you can move onto completing your application. As part of your initial application, you’ll need to supply some basic information, such as your full name, age, employment situation and income after tax.

You’ll need to provide some identification so your lender can verify your identity. Lenders will usually request your driver’s licence or passport information, as well as potentially a government-issued proof of age or Medicare card. Once these are supplied, you can submit your cash payday loan application and receive an instant outcome.

If you receive instant approval, your lender will need to confirm the information you’ve provided to give your application the formal seal of approval. This includes running a quick credit check and reviewing your online bank statements to gauge your financial circumstances.

After these checks are complete, your lender should be in a position to offer you formal approval on a fast cash loan, which can take place as soon as one hour after you apply. You'll be sent a contract to sign and return which confirms the terms of your agreement, such as the size, length and cost of your loan, after which the funds can be sent to your account.

How much will my cash payday loan cost?

Online payday loans come with several fees. However, what your loan ends up costing you will depend on several factors, such as your loan size and term. These loans come with an establishment fee and a monthly fee, which are both rolled into your loan repayments. The way these are calculated are:

  • Establishment fee: flat fee capped at $400
  • Monthly fees: ongoing charges capped at 48% of your loan amount over the span of 12 months.

While it’ll increase the value of your repayments, choosing a shorter loan term will save you money on monthly fees. For example, if you took out a $2,500 loan over nine months instead of 12, your repayments would rise by around $81 per month but you would save $300 in monthly fees overall.

Why apply for a small loan with Savvy?

Answers to your quick cash payday loan questions

Can I get an instant cash loan on the weekend?

While many lenders only approve and fund loans during the week, as per their business hours, there are some who’ll be able to pay out your loan on a weekend. However, it’s important to remember that bank transfer times are generally slower on Saturdays and Sundays, so your funds could be held up from reaching your account in some cases.

Can I get a fast cash loan if I’m unemployed?

Yes – as long as you’re earning some form of steady income, being unemployed isn’t an issue if you want a loan. You can use income through fixed Centrelink benefits (such as aged or disability pension or single parent payments), investments or superannuation towards your loan. Temporary Centrelink benefits, such as JobSeeker or Youth Allowance, won’t qualify on their own.

Can I get a cash loan with fast approval and no credit check?

‘No credit check’ loans aren’t offered among responsible lenders. Reputable financiers will ensure every applicant undergoes a credit check as part of their responsible lending obligations. If you’re worried about a credit check because you have bad credit, though, your score is unlikely to be an issue on these loans; lenders are more interested in your ability to repay your debt in the here and now.

I’m a discharged bankrupt. Can I still apply?

Yes – if you’re a discharged bankrupt, you can be considered for a loan. A lender will ensure you’re earning enough to cover your regular repayments as part of the application process.

Can I repay my payday loan on my next pay day?

Yes – so long as your next pay day is at least 16 days from when you took out your loan. Licenced lenders can’t offer shorter loan terms than this as part of their responsible lending guidelines.

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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.