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One-Hour Cash Loans Very Quick Funds Australia

Need a one-hour cash loan quickly? Trust Savvy to help!

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.

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.

Can I get a cash loan within one hour?

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.

How do I apply for a quick one-hour cash loan?

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:

  • your passport and driver’s licence,
  • your birth certificate and driver’s licence, or
  • another combination of ID documents including your photograph and signature

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.

How long can I take to repay my cash loan?

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.

How much will I have to repay?

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.

Why apply for a small loan with Savvy?

Here’s more of your questions about one-hour cash loans

How old do you have to be to get a one-hour cash loan?

You’ll need to be at least 18 years of age to apply for your instant cash loan online.  You’ll also have to be either an Australian resident or citizen, and be able to provide an email address, a phone number and a bank account number.

Can I still get approved for a cash loan in one hour if I have a bad credit record?

Yes – small loan lenders are more concerned about whether you can afford to pay back your loan in the future, rather than what’s happened in the past.  Lenders always make sure their customers have the capacity to pay back the loan, so you’ll always have a credit check and bank statements assessed; there aren’t any loans that are approved for everyone. This is also why you probably won’t be able to take out another cash loan if you already have one or more small credit loans on your credit record. You probably won’t be approved for a cash loan if you need it to pay off another cash loan debt, either.

Can I pay off my cash loan early?

Yes – there aren’t any penalties or early exit fees applied if you want to pay off your loan sooner than your original loan period.  The minimum loan period for a small credit contract is 16 days, so you’ll have to wait this minimum period before you pay off your loan.  However, it’s a great idea to pay off your loan as quickly as you can, as it’ll help you pay less in monthly fees.

What can I use my one-hour cash loan for?

You can use your 60-minute cash loan to help with most unexpected expenses or emergency situations.  Common reasons for urgent cash loans include car repairs, forgotten bills, medical expenses or appliance replacement. You’ll need to specify the reason why you need an urgent cash loan during the application process.

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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.

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