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$100 Loans

Find out more about your $100 loan options right here with Savvy.

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 December 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 December 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.

Whether you need as little as $100 to cover an unexpectedly high bill or add some much-needed flexibility to your household budget, a small loan can provide the rapid financial assistance you need. While loans as small as $100 aren’t available through Savvy, it’s important to understand what your options are for rapid online cash, as well as what you can get if you apply through us for a loan. Find out all you need to know right here!

How can I get a $100 loan?

While a $100 loan isn’t available through Savvy as mentioned, there are several options available to those who need quick cash in Australia. These include:

  • Credit card cash advance: a cash advance with your credit card is essentially using your card to obtain cash, rather than paying for goods and services. This can involve things like withdrawing funds from an ATM or with cash-out and sending money to your transaction account. However, steep credit card interest rates and advance fees will likely apply.
  • Centrelink advance payment: if you receive Centrelink payments, you may also be eligible for an advance payment. This is available for a range of payments, including JobSeeker, Youth Allowance, Age Pension, Disability Support Payment and more. The small amount you receive is added to your payment and then deducted from future instalments to repay it.
  • No Interest Loans (NILs): alternatively, you may be eligible for a NIL to cover essential goods and services like household goods, education and car repair costs. This allows you to borrow up to $2,000 for these purposes or up to $3,000 for other reasons such as rent and bonds. It’s worth checking whether you meet the requirements for a NIL, however.

How do I apply for a small loan through Savvy?

The small loan application process through Savvy is a very simple, user-friendly one. Here are the simple steps to follow if you wish to apply for a small loan:

  1. Fill out our application form, including information about yourself like your credit score, income, employment and more. You’ll also select your chosen amount, which ranges from $2,050 to $5,000.
  2. Submit your application and receive an instant automatic outcome from one of our partnered lenders.
  3. f you’re conditionally approved, your application will be assessed by your matched lender. This may involve sending through further documentation if required.
  4. Once your lender is satisfied, you’ll be offered formal approval and sent through your loan documents to sign. These will outline things such as your loan term, fees, repayment schedule and more.
  5. After you sign and return this, your funds can be advanced directly into your nominated account.

What is the typical processing time for a small loan?

As previously mentioned, your small loan application could be approved, and your funds could be released as quickly as the same business day, potentially even within an hour. However, this is contingent upon your application meeting all of your lender's requirements and passing their assessments.

Several factors can impact the processing speed of your application:

  • The intricacy of your application, particularly regarding defaults and income stability.
  • Your lender's processing timeline.
  • The time of application submission, as applying outside business hours may delay formal assessment until regular hours resume.

Why apply for a small loan with Savvy?

Frequently asked questions about small loans

Can I access a small loan with bad credit?

Yes – acquiring a small loan remains possible even with a less-than-ideal credit history, provided you meet your lender's established criteria. While traditional lenders often place significant weight on credit scores, those offering small cash loans typically adopt a more flexible approach.

Can I repay my small loan early?

Yes – you can prepay your small loan and not incur any early repayment penalties. Early settlement can be a great way to save money, as it reduces the overall cost of the loan by minimising the amount of monthly fees paid.

What can I use my small loan funds for?

Yes – once you receive your small loan funds, you have the flexibility to utilise them for a variety of purposes, not limited to the stated reason on your application. You may choose to allocate them towards multiple household expenses, for instance. However, it's important to note that there are certain restrictions on their usage, such as paying off other small loans or engaging in gambling activities.

How much will my small loan cost?

The principal costs involved in obtaining a small loan include an establishment fee (limited to $400) and monthly fees (capped at 48% of the loan's total value annually). Nevertheless, the final amount you pay will depend on various factors, including the loan amount, repayment term, any additional repayments made, and potential late payment or dishonour charges.

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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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