Don’t let financial setbacks slow you down. Borrow up to $5,000 for any purpose and get up to two years to repay when you find a lender online.
Qualifying for a $5,000 loan online is now faster, easier and quicker than it ever was. Apply via Savvy and target only the lenders with requirements and terms that match your own specific goals and finances.
Cash loans are built for speed. Lenders are almost exclusively based online, so they offer streamlined digital applications and fast approvals. Borrowers can do everything they need using any device like a smartphone, from filling out forms to uploading supporting documents and signing contracts.
It takes seconds to fill out our quick form, and it’s just as quick to connect with finance providers that suit your profile. Sign agreements and upload documents on the web – get approved in just sixty seconds, then get funds transferred straight to your bank account as quickly as the same day!
Cash loans don’t come with any extra fees for early repayment. That means if you decide for any reason to pay the loan off early, you’ll only owe the remaining balance of what you borrowed plus the remainder of the setup fee. You’ll save on any potential repayment fees for the rest of the term.
You don’t have to borrow $5,000 with a small loan. You can get a loan for anything from $2,050 and repay over 16 days to two years. You can choose to pay using direct debits weekly, fortnightly, or monthly to match how you get paid.
Fees for small loans are straightforward and get based on what you borrow. You pay a $400 establishment fee and monthly fees each time you make a repayment, which are capped at 48% of your loan amount over the span of a year. With a $5,000 loan, you’ll pay $200 in ongoing fees each month.
If you need money now in Australia, there are no upfront costs to worry about with a cash loan. The setup fee gets spread across your repayments during the term, so you don’t need to pay anything the day you apply. Your first small personal loan repayment is due a month, week, or fortnight after approval – depending on your repayment schedule.
The main difference between small loans and other forms of finance lies in the qualification requirements. That’s how lenders assess your application. Where other forms of lending rely a lot on your credit rating, loans for up to $5,000 are different. Your credit score isn’t a major factor, so you can qualify for this type of loan with a bad credit rating, when you’re unemployed, and you can even apply for a small loan on Centrelink. Many borrowers find that applying for a $5,000 loan when self-employed is also a lot easier than trying to get one from a bank, for instance.
We just need a few basic details to match you with appropriate lenders and products. We’ll ask what you do, earn, and how much you need to borrow, then we’ll instantly select the ideal option from dozens of lender partners digitally. It’s quick, simple, and maximises your chances of a fast, trouble-free application.
Many small personal loans get approved and funded the same day.
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.