Cash Loans Without Bank Statements

Need an urgent cash loan? Savvy can help you get approved with no fuss.

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 September 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
|
|
|
|
|
$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 September 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.

You may want to avoid all the messy paperwork when you need a loan fast.  Fortunately, you can sidestep sending any physical bank statements by applying for a 100% online cash loan, which you can do right here with one of Savvy's reputable lending partners.  Start the process today and receive an instant outcome when you apply.

Can I get approved for my cash loan without bank statements?

Yes – you can get approved for a loan from $2,050 to $5,000 without providing paper bank statements, as the entire application process takes place online.  However, in Australia, responsible lending guidelines stipulate that credit providers can't approve small loans that borrowers can’t comfortably afford to repay. 

Therefore, lenders have an obligation to review your bank statements, which is done via your online banking account details.  From there, they can access the required bank statements without you having to provide them. They do this to find out about your income and spending habits, which will help inform their decision on whether you’re able to repay the loan you’re applying for.  Your information will be encrypted and statements read-only, so everything is secure and unable to be altered.

As such, while you can’t get approved with no bank statements at all, the process is made much simpler for you by not requiring you to download or print the statements themselves and emailing them to your lender.  By applying for your small loan through Savvy, you can receive an instant outcome and have your funds hit your account on the same day (in most cases).

What other information do I need to provide apart from my bank statements?

You’ll need to provide proof of your identity, so you’ll need 100 points of ID.  This can include documents such as:

  • driver's licence
  • passport
  • Medicare card
  • credit card
  • citizenship certificate

You'll need to provide your home address, email address, phone number and bank account details as part of your application.  If you’re applying for a loan on Centrelink benefits, you’ll also have to provide your MyGov login details so your allowance or pension can be verified.   On top of everything else, you’ll also need to provide the reason for your loan application. 

When you complete the online form, you’ll need to prove to the lender that you satisfy the following standard lending criteria:

  • you must be at least 18 years of age
  • you must be a permanent resident or citizen of Australia
  • you must show you’ve had a consistent income for at least three months

Once you’ve established all of this, you can move on with your application and work towards getting your payday loan approved today.

How much will I need to pay in fees for my cash loan?

The fees you’ll be charged for your loan include an establishment fee and a monthly fee, with the total cost of your loan depending on its size and your chosen term length. The establishment fee is capped at $400, while the monthly fees you’ll be required to pay can't exceed a maximum of 48% of your loan amount in total over 12 months.

However, the length of your loan term will also have a bearing on its cost.  The table below demonstrates how you can save on a $4,000 loan by opting for a shorter term.

Amount Loan term Monthly payment Overall payment Saving
$4,000
24 months
$343.33
$8,240
N/A
$4,000
18 months
$404.44
$7,280
$960
$4,000
12 months
$526.67
$6,320
$1,920

As you can see from this example, the shorter terms result in more expensive repayments but a cheaper overall product. This is down solely to the monthly fees which apply to your loan: the shorter your term, the less you’ll pay in monthly fees.  This is why it’s also highly beneficial to make extra repayments wherever possible, as paying above the minimum will shorten your term and potentially save you hundreds overall.

Why apply for a small loan with Savvy?

Common questions about small loans without bank statements

Is it safe to share my bank statements and account details online?

Yes – reputable lenders, such as those partnered with Savvy, use sophisticated encryption technology to prevent your personal details from falling into the wrong hands, just the same as the major banks do.  They’ll only ever be able to view read-only copies of your bank statements, and they won’t ever have access to the money in your bank account.  

How long will I have to pay back my loan?

You can choose the time frame you have to pay back your loan. You can choose a term of between 16 days and two years to repay your debt. Of course, as mentioned, you can always repay your instant cash loan sooner than your scheduled loan end date, which will save you on monthly fees and make your loan cheaper overall.

Can I get approved for a cash loan if I have a bad credit record?

Yes – you can get approval on a loan with bad credit. Lenders are more focused on your ability to repay a loan now, rather than what’s happened in the past.  You’re unlikely to be approved for a loan if you already have another small or medium credit contract outstanding on your credit record (or if you have a history of payments to gambling sites) so you’ll probably need to pay off your existing payday loans before applying for another one.

What can I use my cash loan for?

Cash loans from direct lenders can be used for a whole variety of purposes. They usually help out people who have a sudden unexpected bill or emergency expense, such as your car breaking down and having to be towed.  Replacing essential appliances (like a fridge) can also stretch finances. Emergency medical expenses, both for humans and pets, can also pop up unexpectedly or at the wrong time of the month. Online payday loans can help in all these circumstances, which is why they continue to be a popular method of getting hassle-free short-term finance.

Helpful small loan guides

Small Loans Banner - Young couple assessing their financial situation before applying for a loan

No Credit Check Loans

Find out whether you can get approved for a loan with no credit check and get your application started with...

Small Loans Banner - Middle-aged couple comparing payday loan interest rates on a laptop

Payday Loan Interest Rates

Payday loans are a different breed. Here’s your quick guide to how you compare payday loan costs. Borrow up to...

Small Loans Banner - Young couple working out their finances before applying for a loan

No Questions Asked Loans

Looking for a quick cash loan? Apply with Savvy today. Borrow up to $5,000 Outcome in 60 seconds Flexible repayments...

Small Loans Banner - Young couple looking at their finances and needing money desperately

I Need Money Desperately

Apply for your small loan with Savvy today and get an outcome fast. Borrow up to $5,000 Outcome in 60...

Small Loans Banner - Young woman smiling while looking at her tablet on the couch

Payday Loan Eligibility

Wondering how to qualify for a payday loan? Well, it’s pretty easy, and you’ve come to the right place. Borrow...

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.