Cash Advances
Need a quick loan? Get fast cash advance approval.
- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
- 100% online
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Got an urgent purchase to make but money is a little tight? Don’t spend your valuable time scratching around for funds: Savvy can lend you a hand when it comes to getting approval on a cash advance loan.
Our online loan application is easy to complete and gives you an instant decision from one of our reputable lending partners so you can have peace of mind. Start your application now to get the wheels in motion on your cash advance.
How do I get a cash advance?
Cash advances are a type of small loan which you can apply for through Savvy. Once you choose an amount between $2,050 and $5,000, the online application process doesn’t take too long to complete.
Before you apply, remember to check if you’re eligible to take out a cash advance. These requirements are generally the same across all lenders and will be clearly laid out for you. The eligibility criteria you’ll need to satisfy include:
- At least 18 years old and a permanent Australian resident or citizen
- Earning a steady income for the past 90 days
- An active mobile phone number and email address
- No outstanding payday loans
- Access to bank accounts via internet banking
When you start your application, you’ll need to select how much you want to borrow and why you need it. The benefit of a payday loan is you can use it to cover a wide range of costs, including car repairs, medical procedures, home renovations and day-to-day expenses.
Lenders will then request some details about your circumstances, employment and income as part of the initial application. You’ll be asked to upload some identification to a secure portal to verify your identity. Lenders will generally ask for the following:
- A driver’s licence or passport
- A Medicare card
Once these details and documents have been received, you’ll get an instant decision on your application. If you’re approved, your lender will go about confirming some of the details you’ve provided. They’ll run a quick credit check and review ‘read-only’ copies of your online bank statements. If all goes according to plan, you can receive formal loan approval.
How fast can I get my cash advance funds?
One of the key advantages of a quick cash advance loan is you can get your money paid out and receive it in your account on the same day you apply in most cases. Lenders will pay out your funds once you sign and return your loan contract; however, whether they end up in your account on the same day can depend on your bank’s transfer time. Despite instant payments being pretty universal these days, banks can still take up to two business days to process payments, especially on weekends.
The timing of your application can also have an impact on how fast you receive your money. By applying earlier in the day, you’ll have a better chance of getting approved and funded that day, rather than the process running into the next day or over a weekend.
How much you want to borrow and defaults on similar loans can also impact the speed of your approval and funding. From time to time, direct money lenders may require further information or clarification to complete your application, although this shouldn’t delay the process by much time.
What will my cash advance cost?
Cash advances come with a few fixed costs which are rolled into your loan when you take it out. How much you have to pay in fees will come down to your loan amount and term length. Your fees will be spelled out in your loan contract and can also be found on your lender’s website.
Unlike other types of loans which come with a slew of fees for applying and account-keeping, payday loans attract just two kinds of charges: an establishment fee and an ongoing monthly fee. The establishment fee is capped at $400, while monthly fees are capped at 48% of your loan amount over 12 months.
Borrowing a smaller amount, making extra repayments or choosing a shorter loan term are some of the ways you can save money on fees. By simply reducing your term by three months, you can save hundreds of dollars on the overall cost of your loan. See how much you could save by using our easy-to-follow table.
| Loan size | Term length | Total fees | Monthly repayments | Total loan cost | Total saving |
|---|---|---|---|---|---|
|
$2,500 |
18 months |
$2,200 |
$261 |
$4,700 |
N/A |
|
$2,500 |
15 months |
$1,900 |
$293 |
$4,400 |
$300 |
|
$2,500 |
12 months |
$1,600 |
$341 |
$4,100 |
$600 |
Why apply for a small loan with Savvy?
Apply online, 24/7
No matter the time of day or week, you can complete your small loan application with us online.
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You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
Trusted lender panel
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
Common cash advance questions
Small loans to suit your circumstances
Helpful small loan guides
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.
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.
