$500 Loan
Get approved for your small loan to cover your unexpected expenses.
- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
- 100% online
Fact checked
Fact checked
Yes – in many cases, you can successfully apply for a $500 loan with bad credit. In fact, your past borrowing history is unlikely to prevent you from qualifying for a cash loan. Lenders do look at your credit report, but that’s mainly to check existing borrowing and your record dealing with similar cash loans in the recent past.
Qualification for small loans is assessed on the basis of affordability and lenders follow responsible lending guidelines while they examine your finances. What that essentially means is if you can afford to repay a cash loan without causing yourself financial stress, you’re likely to have no issues qualifying.
Assessable income can come from a variety of sources with a $500 loan application. You can apply for a cash loan on Centrelink; you’ll just need to supply a Centrelink Income Statement, which you can download by logging into your MyGov account. Lenders will consider Centrelink income as long as it makes up no more than 50% of your total. You can also apply for a $500 loan if you’re a pensioner.
$500 instant cash loans approved
Need to borrow $500 fast? You can apply for a cash loan today and do everything you need online. Use a small cash loan for any purpose, choose a repayment option to match how you receive income and pay fixed fees.
With Savvy, you can borrow anything between $300 and $5,000 with one. All fees are capped and are represented as a simple percentage of the loan amount. Applications for small loans are conducted entirely online and approvals are quick. Borrowers can upload supporting documents via lender websites and fill out application forms online too.
Instant outcomes within 60 seconds
Get funds in 24 hours
Flexible repayments
100% online
Fixed loan repayments
Centrelink income accepted
No early termination fees
24x7 applications
Why choose Savvy for your cash loan?
Fast approvals
Savvy has partnered with reputed small loan lenders who offer instant approvals on your loan application within 60 seconds.
100% online
Our applications take less than 5 minutes to complete and bank statements can be sent online, saving you time.
Apply from anywhere
We offer cash loans Australia wide, so you can apply for your small loan without even leaving your house and get approved.
What you can use a $500 loan to pay for
Pay medical or dental costs
If you have an unexpected medical or dental issue, cash loans are quick and simple to arrange, so you don’t need to delay treatment.Cover your holiday expenses
Cash loans don’t have to be for an emergency problem; they can be used for some rest and relaxation too. If you’ve managed to grab a few days off but you’re still waiting to get paid, you can use a cash loan to bridge the gap and get away.
Study or training
Chasing that promotion or new qualification can be expensive when you need to go on a course or gain some extra know-how. You can use a cash loan to spread the cost of training and study.
Christmas cash loans
The festive period can put a financial strain on many Australians, but if you need a cash boost during December, you can use a cash loan. You can then either repay it over a couple of months or even spread the cost of Christmas across the whole year.
Still got some questions about cash loans? Find answers here
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.
