Apps like Wagetap

Apply for quick and easy small loan funds through Savvy, presenting a hassle-free alternative to apps like Wagetap.

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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 January 25th, 2024       

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.

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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 January 25th, 2024       

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.

Fast money lenders and apps like Wagetap have become a go-to option for Australians in need of quick funds. However, understanding alternative options is essential. That’s where Savvy can help you out. Through us, you can gain insights into Wagetap and similar apps, allowing you to compare them with the straightforward process of applying for a fast loan through us today!

How do apps like Wagetap work?

Wagetap is a cash on demand app that offers users the convenience of obtaining pay advances, allowing them to access a portion of their earned wages before the standard payday. The maximum advance limit with Wagetap is $2,000, although this may vary based on factors like your app and the income you earn, as well as variables such as your employment status and history repaying similar debts.

Upon application approval, the requested amount is swiftly deposited into the user's bank account. From there, your repayment is structured to be seamlessly deducted from future payslips, with service fees applied in return for facilitating this smooth financial transaction.

What fees will I have to pay with apps like Wagetap?

Exploring apps like Wagetap reveals a fee arrangement characterised by simplicity. Much like other platforms in this category, these apps generally refrain from imposing interest charges and ongoing fees. Instead, users are charged a lone fee, which is typically 5% of the borrowed amount, scheduled for payment on your next payday. There are also processing fees for each loan with Wagetap, which tend to amount to less than $1 but depend on the size of the loan and your repayment frequency.

It’s worth understanding this fee structure as you evaluate different loan options. For example, a $100 loan would entail a fee of about $5, whereas opting for the maximum limit of $2,000 would translate to a fee of around $100.

What alternatives to apps like Wagetap are available?

For an uncomplicated and efficient solution alternative to apps like Wagetap, you may wish to explore the option of applying for a small loan through Savvy. We collaborate with trustworthy lenders throughout Australia, providing quick cash loans ranging from $2,050 to $5,000. The application process is user-friendly, completed online from start to finish. Upon submission, you can receive an instant outcome within just 60 seconds.

If conditionally approved, formal approval may not be far away, with funds potentially being sent in as little as one hour, depending on your lender and bank's processing times. Take the first step with us today to access the funds you need without unnecessary complications!

Why apply for a small loan with Savvy?

Common questions about small loans

Is it possible to get a small loan even if my credit score is low?

Yes – obtaining a small loan is within reach, even with a less-than-perfect credit history, as long as you meet the eligibility criteria set by the lender. In contrast to traditional lenders that heavily weigh credit scores, those offering small cash loans typically adopt a more flexible stance.

Can I repay my small loan before the agreed-upon time?

Yes – paying off your small loan before the scheduled end date is allowed, and there are no penalties for early repayment. Early settlement can be financially advantageous, as it decreases the monthly fees and, consequently, reduces the overall cost of the loan.

Can I allocate my small loan funds for various purposes?

Upon receiving your small loan funds, you have the ability to apply them to a range of needs. Whether it's covering various household expenses or managing unforeseen financial obligations, the flexibility is yours. Nonetheless, it's crucial to understand certain usage constraints, such as refraining from repaying other small loans or participating in gambling activities.

Can I expect to receive my small loan funds on Saturdays or Sundays?

The formal assessment, approval, and funding of your loan application can only take place during your lender's regular business hours. If your lender operates on Saturdays or Sundays, there's a chance you could receive your loan funds over the weekend. However, it's important to note that the actual arrival of funds is contingent on bank processing times. Therefore, even if your lender approves your application on the weekend, the funds may not be accessible straight away.

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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.