Small Personal Loans

Need a small loan to tide you over? Savvy has you covered.

Need a small loan to cover the unexpected?

Get the cash you need, fast. Savvy helps with a bit of extra cash when needed.

What is a small personal loan?

A small loan is a short-term finance option that allows people to borrow small amounts of money, usually from about $300 to $5,000. People may need to take out small loans to cover unexpected bills, pay for urgent replacements of appliances, or to ease temporary cashflow problems. Savvy works with you to provide instant small finance to help you through any emergencies, giving you a range of repayment options that won’t break the bank.

Get money fast

Sometimes life can throw unexpected bills at us – medical bills, emergency repairs & home improvements, wedding, travel; you name it. Unfortunately, we may not want to incur the high interest rates of credit cards or wait for traditional personal loans to be approved. Small personal loans can be a stop-gap solution to urgent cash needs. Plus, interest rates are not as high as you think. All fees are presented up front, giving you the power to make an informed decision.

Small loans sorted – fast and easy

Need money fast? Don’t stress. Apply online and get approved

How to qualify for quick personal loans via Savvy

Everything you need to know about finding the right quick personal loan for you, applying, and receiving your funds

Source Personal Finance via Savvy

There are a lot of factors to consider here. For a start, you need to think about the condition of the vehicle, especially if it is second-hand. You also need to consider not just the cost to buy the car, but what it will cost you to run it. This includes fuel, motor insurance, registration, roadside assistance and servicing.

How Loan Comparison Rates Work

Quick personal loans differ from lender to lender, so it’s important that borrowers have a simple way to compare their options. Comparison rates display each loan based on a specific borrowed amount over the same term – then show the overall cost as a percentage rate. That means no matter how different lenders charge – via different mixes of fees and various offered interest rates, you can compare each deal like-for-like instantly.

Get All Your Documents Together

There are a lot of factors to consider here. For a start, you need to think about the condition of the vehicle, especially if it is second-hand. You also need to consider not just the cost to buy the car, but what it will cost you to run it. This includes fuel, motor insurance, registration, roadside assistance and servicing.

How to streamline your small loan application

Follow these simple steps to help you navigate your small loan application.

We answer your small personal loan questions

Find out answers to some of the common small loan questions

What is a small loan?

A small loan is a type of personal loan that is smaller (micro loan) than traditional personal loans. These may range from as little as $300 up to $25,000. Small loans have shorter terms than personal loans – a minimum of three months up to 24 months.

What can I use a small loan for?

You may use a small loan for a variety of purchases, such as urgent replacement of appliances, computers, or electronics; sudden medical bills; emergency travel; temporary cash flow problems; unexpected utility bills; legal or administrative bills; anything that requires urgent payment which you cannot cover under normal circumstances.

Is a small 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 small 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.

Am I eligible for a small loan?

You need to be over the age of 18, an Australian citizen or permanent resident, been receiving regular income for at least 90 days into a bank account and have an active email and/or mobile number.

I am on Centrelink benefits, can I apply for a small loan?

Yes; we can arrange small loans for benefits recipients. Conditions may apply.

What if I have had bad credit in the past?

We can approve loans for people who have a bad credit history. We assess your current financial situation instead of using your credit history as the sole factor for approving or declining a loan.

How long does it take to apply?

It only takes a few minutes online; or you can talk to one of our consultants.

Your helpful guide to small loans

Get informed about small personal loans and see how it can help you

Pitfalls to avoid around small loans

Small Loans can be handy when an unexpected bill comes in, or you need to travel on short notice. With any short-term debt, you need to be careful so as not to overburden yourself with credit. Shopping around for small loans is a good idea, however you should not apply for many small loans in the hope one will come through. This will ruin your credit history. You should also consider if the small loan will tide you over in this specific emergency, or if a larger personal loan is a better fit for your situation, to prevent multiple applications.

How can you compare small loans?

Comparing small loans can take a lot of shopping around, looking at different websites and lenders. One can create a spreadsheet with all the various options; however, this may slow down your application. One of the aims of small loans is to have money come through fast to remedy an urgent situation. Comparing a small loan with a broker is a faster and easier way to compare many different loans under one roof. Brokers can tailor small loans to your specific needs and help guide you through the process.

Small loans vs credit cards

When a bill or urgent expense comes up, putting it on the plastic is an all too easy fix. Even so, credit cards often worsen your financial situation. If you do not pay off the entire sum within an interest-free period, you might pay interest rates of upwards of 25% or more. This can accumulate quickly if you only pay the minimum. A small loan has a set repayment period, so you will be out of debt within a specified time – 3 to 36 months in most cases. This will save you more money in the long run, compared with credit cards.

Why small loans are NOT payday loans

Small loans are distinct from payday loans because the interest rates can be variable and there is no obligation to enter into a paycheque “garnishing” / deduction arrangement and/or direct debit when your pay comes in. Small loans can be repaid from anywhere between 3 to 24 months and are often regulated by the usual consumer credit code. Payday loans are heavily regulated.