Cash Loans Without Bank Statements
Need an urgent cash loan? Savvy can help you get approved with no fuss.
- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
- 100% online
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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?
Apply online, 24/7
No matter the time of day or week, you can complete your small loan application with us online.
Instant outcomes and same-day money
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 questions about small loans without bank statements
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.
