Online Cash Loans

In a jam? Get unstuck with an online cash loan from Savvy.

Apply in less than 10 minutes.

Last updated on May 4th, 2022 at 02:56 pm by Bill Tsouvalas

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Need a tide over loan? We can help

When you fall short and a big purchase is urgent and important, Savvy is here to the rescue with online cash loans. Unexpected bills can strike just before pay day; medical expenses can mount up which can’t be put on the credit card; sometimes we just need to travel at the last moment and we can’t muster the cash on our own. Online cash loans are a stop-gap solution for everyday Australians who just need a hand up in a time of need.

What is an online cash loan?

An online cash loan is a small, short-term loan (3 months to 24 months) ranging from $500 to $5000. As the name suggests, the entire process can be handled using online forms without going through strenuous document checks and income assessments. Our lending portal does all the work for you and lets you know if you’re approved in minutes. You can even choose the term length in most cases. We also have friendly consultants standing by to help you through.

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How to streamline your online cash loan application

Frequently asked online cash loan questions

What is an online cash loan?

A online cash loan is a type of personal loan that is smaller than traditional personal loans. These may range from as little as $300 up to $5,000. Online Cash Loans have shorter terms than personal loans – a minimum of three months up to 24 months.

Is a online cash loan like a payday loan?

No. A payday loan usually requires the borrower to pay back the loan on their next pay period. This is deducted via direct debit or through your paycheque.

Is the interest rate double what I borrow, or more?

No; interest rates for Online Cash Loans are usually calculated via a 20% mandatory establishment fee and a monthly fee of 4% for sums up to $2,000. Other interest rates are presented up front through your repayment schedule. Savvy is an accredited broker and adheres to responsible lending practices.

How long do I have to pay a loan back?

You may choose from as quickly as 3 months up to 24 months.

What are unsecured vs secured loans?

Unsecured loans are loans that do not require an item or asset as collateral. Secured loans take an asset such as a car or appliance as collateral, in the case of non-payment.

Who can apply for an online cash loan?

Australian citizens or permanent residents over the age of 18 who have been receiving regular income for at least 90 days into a bank account and have an active email and/or mobile number can apply.

I am a single parent; can I apply for a online cash loan?

Yes. We welcome all types of applications based on our eligibility criteria.

I am on Centrelink benefits; can I apply for a online cash loan?

Yes; we can arrange Online Cash Loans for Centrelink benefits recipients. Conditions may apply.

I know I have bad credit, but I am in need of a loan. Can I apply?

Bad credit customers can apply for an online bad credit cash loan and have a reasonable expectation to gain approval. We don’t just look at your credit history; we use other factors to determine eligibility. Call one of our consultants for more information.

Your guide to online cash loans

How to get out of debt by sorting out your finances?

Despite our best intentions, life gets in the way of having our finances in the black. However you can sort out your debt by sorting out and reorganising your finances. First off, you need a snapshot of your finances. Money coming in, money going out, and how much debt you have. Work out what kind of spending can be redirected into paying off debts. Cutting off a streaming service you don’t need could save $180 a year. You should begin prioritising your most expensive debt (in terms of interest and balance) – or consider taking out a debt consolidation loan to help reduce interest altogether. You may want to work out a plan with creditors if you are in deep debt.

What is the best way to manage your personal loan?

Personal loans and online cash loans are a great way to help tide you over when times get tough. However, if you don’t manage your personal loans they can sometimes get out of hand. Managing a personal loan should be easy – you can make scheduled repayments using direct debit. You need to make sure your account has enough funds each week/fortnight/month to cover the repayment. If you are having trouble paying a loan back, honesty is your best policy. You should contact your lender or broker well in advance of your repayment date to report any difficulties. This will help you avoid fees and charges as well as defaults.

Is putting it on the credit card better than an online cash loan?

If you already have a credit card with a high enough credit limit and an unexpected bill comes through, is that the best way forward? Though it may be more convenient, credit card interest rates on major purchases (above $100) may end up costing you more. Credit cards are easy forms of credit. You don’t have to pay a set amount each month, just the minimum. The minimum might incur massive interest over time – a balance of $1,000 at 20%p.a. means you’d pay $1,164 just in interest over nine years with a minimum repayment of 2%. An online cash loan has a fixed interest period along with the loan term. That means interest won’t accumulate over time, and you’ll more than likely be better off.

What you need to consider before applying for an online cash loan?

Online cash loans are convenient and fast ways of getting cash when you need it the most. However, there are some points you must consider before making an application. You should figure out what your online cash loan is for. It should cover unexpected expenses that require urgent payment or weekend emergencies; payment you could not come up with any other way. You should also refrain from making multiple applications. Online cash loans are stopgap measures and should be treated as such. Consider taking out shorter terms if you can, as longer terms accumulate more interest. You should also read all terms and conditions before applying, to avoid surprises.