Need a one-hour cash loan quickly? Trust Savvy to help!
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Fact checked
Sometimes, expenses just can’t wait. If you’re looking for very quick funds through a one-hour cash loan, we’re here to help. Savvy’s quick application process means you can apply and be formally approved by one of our reputable lending partners within just one hour of submitting the application. Start the process today and get approved for a loan up to $5,000 fast.
Yes – you can apply for your cash loan and have it approved within just one hour through one of Savvy’s reputable lenders. This sets small online lenders apart from other traditional financiers, who can take as long as two to three days to provide you with an outcome in some cases. This gives you peace of mind almost immediately that your small loan funds will be available for you to use for just about any need.
Your funds can be sent to you within one hour of applying, too, as your lender will be able to fully process the loan once all your documents are signed. From there, in most cases, borrowers will receive their loan on the same day without the messy paperwork you might experience with a traditional lender. These loans are available both to those who are employed and receiving a stable Centrelink income (provided they can show they’re able to support the proposed repayments).
However, if you apply on a weekend, you may not be able to have your application formally processed in the same timeframe. Whilst applications and instant approvals are available 24/7, your lender won’t be able to formally assess your application outside of business hours.
To get your one-hour instant approval you’ll need to provide proof of your ID and some basic financial information to prove that you have the ability to repay your loan. The information you’ll be required to provide includes:
A) proof of your identity
You’ll need 100 points of ID, which is likely to be either:
You may be able to use your driver’s licence, Medicare card and credit card to get your 100 points of ID if you don’t have your passport available.
B) proof that you’re able to repay the loan.
Answer a few simple questions about your income and provide bank account information. You can get approval for your cash loan if you receive a Centrelink pension or allowance, provided you have the capacity to pay back the loan in the future on the income you have available.
Savvy’s online application process is quick, easy and available 24/7. In terms of your initial application, all you’ll have to do is fill out our form, which should only take you around ten minutes to complete. This will tell your lender about you, your financial situation, employment, income and the type of loan you’re after.
Once you’ve completed the application, it’ll be automatically assessed by our lender panel and you’ll receive an instant outcome. Your lender will conduct a credit check here to make sure no recent defaults are present. After your lender formally approves your application, you’ll receive your contract. You can sign it and, once returned, your instant payday loan will be processed and sent to be accessible on the same day.
If you want to borrow very quick funds, you have from 16 days to two years to repay the loan. There’s little point picking a shorter loan term if you’re going to struggle to repay it and put yourself at risk of default. Lenders also can’t approve a loan they believe you’re likely to default on, so you’ll stand the best chance of approval by being realistic in this process.
This depends on the size of your loan and its overall term. Fortunately, interest rates don’t apply to payday loans. All cash loans have an establishment fee of $400 and ongoing monthly fees which add up to no more than 48% of the amount borrowed over 12 months.
For example, if you wanted to borrow $2,200 and pay it off over six months, you’d need to pay $521.33 per month and you’d end up paying a total of $3,128 back. Your instalment would be made up of the principal (the original $2,200), your establishment fee ($400) and your monthly fee ($88).
However, another significant factor when it comes to the cost of your loan overall is the length of term you choose. A $2,200 loan repaid over six months compared to 12 would save you $528, albeit with higher repayments ($521.33 per month compared to $304.67). As such, it’ll benefit you to choose as short a loan term as you can comfortably manage.
No matter the time of day or week, you can complete your small loan application with us online.
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
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.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
