$50 Pay Advances

Learn about your options for $50 payday advances in Australia 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.

When unexpected expenses come your way, a $50 pay advance can provide a lifeline of quick cash to help you bridge the gap between paydays or cover those urgent costs that can't wait. While Savvy doesn't offer $50 pay advances directly, we can help you understand the options available to you. Unexpected expenses can be a source of stress, and access to rapid cash can make a significant difference. Find out more about your quick cash options with Savvy today!

How can I get a $50 pay advance?

Although Savvy doesn't directly offer $50 pay advances, several options are available for those seeking quick cash in Australia. These options include:

  • Credit card cash advance: with a credit card cash advance, you essentially use your credit card to obtain cash instead of paying for goods and services. This can involve activities like withdrawing funds from an ATM, using cash-out features, or transferring money to your transaction account. However, keep in mind that credit card interest rates and cash advance fees can be steep, so it's crucial to repay any outstanding balance promptly to avoid accumulating excessive charges.
  • Bank overdrafts: some bank accounts offer the option to attach a personal overdraft. This allows you to access funds beyond your account's zero balance, up to a predetermined limit. Similar to credit card advances, overdrafts incur interest and fees, making it essential to settle any outstanding debt as quickly as possible to minimise additional expenses.
  • Centrelink advance payment: if you receive Centrelink payments, you may also be eligible for an advance payment. This option is available for a range of payments, including JobSeeker, Youth Allowance, Age Pension, and Disability Support Payment. The small amount you receive is added to your regular payment and deducted from future instalments to repay it.
  • No Interest Loans (NILs): Alternatively, you may qualify for a NIL to cover essential goods and services like household items, education expenses, and car repair costs. NILs allow 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 eligibility criteria for a NIL before applying.

These options provide alternative ways to access quick cash in Australia, offering varying terms and conditions. It's essential to carefully consider your options, assess your financial situation, and choose the solution that best suits your individual needs and circumstances.

How do I apply for a small loan through Savvy?

Accessing a small loan through Savvy is a straightforward and hassle-free process. To apply, simply follow these steps:

  1. Complete our online application form, providing details about your financial situation, including creditworthiness, income, employment, and more. Choose your preferred loan amount, ranging from $2,050 to $5,000.
  2. Submit your application and receive an immediate automated decision from one of our trusted lending partners.
  3. Upon conditional approval, your application will undergo a thorough review by your assigned lender. Additional documentation may be requested to verify your information.
  4. Once your lender is satisfied with your application, you'll receive formal approval and your loan documents for signing. These documents will clearly outline your loan terms, fees, repayment schedule, and other important details.
  5. Upon signing and returning the loan documents, your loan funds will be promptly transferred into your designated bank account.

How long does it typically take to receive funds from a small loan?

As noted earlier, you can apply for your small loan and receive formal approval, with your funds released as early as the same business day (potentially within an hour in some cases). However, approval is always dependent on your application successfully passing all of your lender's mandatory assessments and meeting their eligibility criteria.

The processing speed of your application can be influenced by several factors:

  • The complexity of your application, including the presence of defaults and income consistency.
  • Your lender's internal processing timeframes.
  • The time of day or week you apply, as applications submitted outside business hours may require waiting for regular hours to begin formal assessment.

Why apply for a small loan with Savvy?

Frequently asked questions about small loans

Can I secure a small cash loan with bad credit?

Yes – even if you have a blemished credit history, you can still explore the possibility of securing a small loan, assuming you meet your lender's other requirements. While traditional lenders often prioritise credit scores, those specialising in small cash loans tend to adopt a more accommodating stance.

Can I settle my small cash loan deal early?

Yes – accelerating your small loan repayment can be done without incurring any early repayment penalties. Settling your loan early can be a great way to reduce its overall cost, as doing so will cut down on the monthly fees you would’ve otherwise paid.

Can I utilise my small loan for various purposes?

Yes – upon receiving your small loan funds, you have the freedom to apply them to various financial needs, extending beyond the purpose indicated on your application. For example, you may choose to utilise them for covering multiple household expenses. However, bear in mind that there are limitations on how these funds can be used, such as paying off other small loans or engaging in gambling activities.

How much will my small loan cost?

The primary expenses associated with a small loan include an upfront establishment fee (capped at $400) and ongoing monthly fees (limited to 48% of the loan's total value per year). However, the overall amount you will pay will depend on several additional factors, such as the loan amount, repayment duration, any voluntary additional repayments made, and whether you incur any 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.