Cash Loans No Credit Check Australia
Apply for your cash loan with Savvy and get approved today, even if you have bad credit.
- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
- 100% online
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Has life just thrown a hefty bill at you which will stretch your finances? Applying for a cash loan with Savvy can help you get approved for the funds you need fast. You may be searching for cash loans with no credit check if you’ve struggled with your score in the past, but this isn’t generally an option with reputable lenders. Fortunately, you can get approved for up to $5,000 today with one of Savvy’s trusted and flexible lenders and not worry about bad credit.
Is it possible to get a cash loan with no credit check in Australia?
No – there’s no such thing as a cash loan with no credit check in Australia. All reputable lenders in Australia have to carry out a credit check before approving a cash loan as per responsible lending regulations, as they’ll need to make sure the borrower is clearly comfortable repaying the amount they’re applying for. However, Savvy's lenders are highly flexible and understanding, so a poor credit history won’t prevent you from getting instant approval for a quick cash loan, which is especially helpful in the case of an emergency. What’s more important is whether you’ll be able to repay your loan comfortably.
When lenders assess your credit file, they’re not doing so to check your score. This is to gain a greater understanding of you as a borrower and see whether you have any existing payday loans on the go or recent defaults which may suggest you might be at risk of doing so again. Being able to repay your loan in the here and now is what the major approval factor is likely to be, so you won’t need to worry if your score isn’t the best.
How do I apply for a cash loan and how long will it take?
Whether you're wanting a cash loan in Sydney or applying for finance from Brisbane, Savvy’s application process is fast, only taking around ten minutes to complete as long as you have all your information handy before you start. The details you’ll need to supply as part of your internet-based loan application are:
- your full name, address, date of birth, phone number and email address
- 100 points of ID – which is easily achieved by providing your passport and driver’s licence. If you don’t have your passport to hand, you can also use your driver’s licence, Medicare card and a credit card in your name
- your bank account details, both so that your income can be verified and your loan can be transferred to you
- if you’re unemployed or part of your income comes from a Centrelink benefit, you’ll also need to provide your MyGov details so that information can be checked
Once you’ve filled out your form and sent it off, you’ll receive an instant outcome from your lender confirming whether your application was successful or not. If it was, they’ll assess it formally and, if satisfied, will offer approval. They may also request further documentation at this stage, which could delay the process slightly but is relatively common. Once formal approval is offered, your loan contract can be sent for you to sign and return.
After this has been sent back to the lender, they can arrange for your funds to be transferred. In most cases, this can take place on the same day you apply, although it ultimately depends on several factors such as your financial institution’s processing speed, the time of day you apply (the later, the less likely to be received on the same day) and whether you were required to supply any further documents.
What fees should I expect to pay for my cash loan?
Payday loan fees are capped and fixed, meaning there won’t be any hidden fees outside of your contract. This means everyone will pay fees on the same basis, regardless of whether you’re seeking out finance in Melbourne or a loan up north in Darwin.
All loans will come with an establishment fee of no more than $400, while monthly fees can't exceed 48% of your loan amount over 12 months. It’s important to note that the actual amount you’ll be required to pay will also depend largely on the term of your loan. The following table demonstrates how different term lengths can impact the overall cost of your loan, based on a $3,000 loan with monthly repayments:
| Loan amount | Loan term | Monthly repayment | Total repaid | Total saving |
|---|---|---|---|---|
|
$3,000 |
12 months |
$403.33 |
$4,840 |
N/A |
|
$3,000 |
Nine months |
$497.78 |
$4,480 |
$360 |
|
$3,000 |
Six months |
$686.67 |
$4,120 |
$720 |
Why apply for a small loan with Savvy?
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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.
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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.
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.
