Small Payday Loans

Apply for a small payday loan with Savvy today and get approved before you know it!

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
|
|
|
|
|
$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.

Small payday loans are big on convenience

Small payday loans certainly make very good financial sense for certain small cash flow requirements. Not every borrower wants to commit to a long-term personal loan for thousands of dollars – and not every purchase we need to make is huge. Sometimes, you might just need to put your hands on a few hundred dollars until you get paid. That’s where payday loans come in, and they make it easy to tailor your borrowing to suit your needs, with repayment periods as short as 16 days or as long as two years. You can use a payday loan for any purpose and arrange one in minutes.

Qualify for a small payday loan in minutes!

Savvy makes applying for a payday loan between $2,050 and $5,000 very quick and extremely straightforward. Just give us a few details, and we’ll instantly find your ideal lender based on how much you want to borrow, your circumstances, and how you’d like to repay. Then just fill out the loan provider’s form and upload any required documents from your phone or computer, nominate a bank account to receive funds, and get a fast decision. After that, the lender will send you an agreement to sign digitally. Some payday loan providers will credit your bank account on the same day.

Why apply for a small loan with Savvy?

Got a question about small payday loans?

What can I use a payday loan for?

A wide range of things. Aussies use payday loans for car repairs, unexpectedly high utility bills, and medical expenses. It doesn’t have to be an emergency to get a small payday loan; however, you can pay a rental bond or take a holiday with a small payday loan too.

Who can apply for a payday loan?

You’ll need to be a resident or citizen of Australia and over eighteen. Lenders will want to see a regular, ongoing form of income – however, some benefits are usually fine, and small payday loans for Centrelink recipients are available.

What if I need a self-employed payday loan?

It doesn’t matter how you get paid, as long as it’s into your bank account and not cash. Lenders primarily want to see you can afford repayments, so small payday loans for self-employed people are absolutely fine – and even for people with bad credit, payday loans are usually accessible.

What documents will I need?

You can apply for a payday loan with just a few documents. You’ll need a driving licence or passport to confirm your ID, proof of address, like a recent utility bill, and three months’ worth of bank statements – so the loan provider can work out your disposable income.

How long does it take to get a small payday loan?

Small payday loans are rapid to arrange. Your nominated account will be credited as soon as your application gets finalised. Most small payday loan applications get completed the same day.

What’s the easiest way to qualify for a small payday loan?

Applying for a payday loan via Savvy is a fast, convenient way to get a quick loan when you need one. We’ll instantly assess your requirements and match you with the ideal lender from our extensive range of small payday loan provider partners.

Repaying a small payday loan – your options, how fees work

Small payday loans have zero early repayment fees

Small payday loans can be paid off quickly – with no extra charges. That means lenders don’t charge any early repayment fees for a payday loan – no matter how fast you decide to clear the debt. That’s why so many Australian lenders use small cash loans when they just need to bridge a cash flow gap. As soon as you’re back on track, you can either stick with your arranged repayment schedule or opt to pay off what you owe without any financial penalty.

Scheduling your payday loan repayments

Every Australian borrower is different. These days, more and more of us work flexible hours or seasonal jobs. Small payday loans are designed to match the way you and your finances work. You can set up repayments to fit your pay schedule, choosing weekly, fortnightly, or monthly intervals. It’s easy to specify the day of the week or month that suits your income schedule too – and repaying via direct debit means you’ll never fall foul of a late payment fee.

Repay your own way with a small payday loan

With a small payday loan, faster repayment options also equate to lower borrowing costs. That’s because any form of credit costs more money when you borrow for a longer time – but small cash loans let you choose a repayment period as short as just sixteen days. If you’d rather take a bit longer, that’s fine too. You’re free to choose anything up to two years.

Small payday loans feature capped, fixed repayments

Small payday loans feature capped fees and fixed repayments. For example, the fee cap means you’ll never pay more than $400 in establishment fees. Regular repayment fees get charged per payment, and they’re also capped at 48 per year%. There are no other charges, and annual interest rates don’t apply. Over three months, a $2,200 loan will cost a total of $664.

Helpful small loan guides

Small Loans Banner - Young couple working out their finances before applying for a loan

No Questions Asked Loans

Looking for a quick cash loan? Apply with Savvy today. Borrow up to $5,000 Outcome in 60 seconds Flexible repayments...

Small Loans Banner - Middle-aged couple comparing payday loan interest rates on a laptop

Payday Loan Interest Rates

Payday loans are a different breed. Here’s your quick guide to how you compare payday loan costs. Borrow up to...

Small Loans Banner - Woman typing on her laptop while sitting in her kitchen

Need Money Now

You can apply for a cash loan online when you need money now and get funds in your bank by...

Small Loans Banner - Young woman smiling while looking at her tablet on the couch

Payday Loan Eligibility

Wondering how to qualify for a payday loan? Well, it’s pretty easy, and you’ve come to the right place. Borrow...

Small Loans Banner - Young couple assessing their financial situation before applying for a loan

No Credit Check Loans

Find out whether you can get approved for a loan with no credit check and get your application started with...

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.