$800 Loans

Read about your options for an $800 loan 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.

Life's unpredictable events can sometimes leave you needing access to funds quickly. $800 loans offer a convenient way to cover those sudden expenses that can disrupt your budget. While Savvy doesn't offer $800 loans directly, we can help you understand your financing options and make informed choices about your financial needs. Learn more about your options with Savvy today!

How can I get a $800 loan?

While Savvy doesn't directly offer $800 loans, there are several alternatives available for those seeking quick cash in Australia. These options include:

  • Credit card cash advance: using your credit card to receive a cash advance, such as for cash withdrawals, can be a convenient way to access funds promptly. However, it's crucial to be mindful of potentially high interest rates and associated fees that come with doing so. Because of this, paying them off quickly will help you reduce the cost of your advance.
  • Bank overdraft facility: certain banks offer accounts with personal overdrafts, allowing you to continue withdrawing funds beyond $0. While this can be helpful in a tight spot, it's important to remember that overdrafts incur interest and fees, which can be significant.
  • Centrelink advance payment: if you’re a Centrelink customer, you may be eligible for an advance payment. This option is applicable to various payments, including JobSeeker, Youth Allowance, Age Pension, and Disability Support Payment. In terms of how this works, the amount you’re receiving is added to your next instalment and taken out of future payments.
  • No Interest Loans (NILs): some people may also be eligible for a NIL. These loans permit you to borrow up to $2,000 for essential expenses like household items or education bills or up to $3,000 for rent and bonds. However, before applying for a NIL, it's important to familiarise yourself with the qualification requirements to determine whether it’s an option for you.

When considering these options, it's crucial to carefully assess your financial situation and choose the solution that best aligns with your individual needs and circumstances. Each option has varying terms and conditions, so it's essential to understand the implications before proceeding.

How do I apply for a small loan through Savvy?

Acquiring a small loan through Savvy is a simple and efficient process. Here's a step-by-step guide to applying:

  1. Fill out our online application form, providing us with details about your financial situation, including creditworthiness, income level, employment status, and other relevant information. 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 network of trusted lenders.
  3. If conditionally approved, your application will be thoroughly assessed by your matched lender. Additional documentation may be requested for further verification of your eligibility.
  4. Once your lender is satisfied with your application, you'll receive formal approval and your loan documents for review and signing. These documents will clearly outline your loan terms, fees, repayment schedule, and other essential details.
  5. Upon signing and returning the loan documents, your loan funds will be promptly transferred into your designated bank account, enabling you to access your funds quickly and easily.

How long does it take to receive funds after applying for a small loan?

As previously stated, you can apply for your small loan and receive formal approval, with the potential for having your funds released as soon as the same business day (potentially within an hour in some cases). However, it's important to note that approval is always dependent on your application meeting all of your lender's required assessments and criteria.

The processing speed of your application is subject to several factors:

  • Application complexity, specifically regarding defaults and income stability.
  • Your lender's established processing times.
  • The timing of application submission, as applying outside business hours may necessitate waiting until regular hours for formal assessment to commence.

Why apply for a small loan with Savvy?

Frequently asked questions about small loans

Can I receive a small cash loan with bad credit?

Yes – obtaining a small loan remains a viable option even for individuals with a less-than-perfect credit history, provided you comply with your lender's established criteria. While traditional lenders often prioritise credit scores, those offering small cash loans typically adopt a more accommodating stance.

Is early repayment possible for my small cash loan?

Yes – early repayment of your small loan is permitted, and there are no penalties associated with doing so. Settling your loan ahead of schedule can reduce the overall loan cost by reducing the total paid in monthly fees, which could be significant for your budget.

Am I able to use the funds from my loan for more than one purpose?

Yes – once your small loan funds are disbursed, you have the flexibility to direct them towards diverse financial objectives, not confined to the reason stated on your application. For instance, you may choose to allocate them towards multiple household expenses. However, it's crucial to acknowledge that there are restrictions on their usage, such as paying off other small loans or engaging in gambling activities.

How much will my small loan cost?

When obtaining a small loan, you will incur two primary costs: an establishment fee (capped at $400) and recurring monthly fees (limited to 48% of the loan's total value per year). However, the total amount you pay will also depend on several other factors, such as the loan amount, repayment term, any additional repayments you choose to make, and whether you are charged any late payment or dishonour fees.

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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.