Direct Money Lenders

Apply with Savvy and find the right direct money lender for you today.

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
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$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.

It can be hard to know where to look when you need cash today. Fortunately, when you apply with Savvy, we match you to a reliable direct money lender who can offer a loan deal which is best suited to your profile.

Our flexible lending partners have fast-tracked online processes, meaning you can apply, be approved and get your cash from the convenience of your smart device and the comfort of your own home. Don’t look any further and get your application started with Savvy today.

How do I get a loan with a direct money lender?

Getting a payday loan through a direct money lender is as simple as applying online with Savvy. When you apply with us, we connect you to one of our lending partners who can offer you a loan best suited to your financial circumstances.

Direct money lenders have eligibility criteria you must adhere to if you need money fast. These loan requirements are standard across all lenders and will usually include:

  1. Age: you must be at least 18 years old to apply for a loan.
  2. Income: lenders require you to be earning a consistent income for at least 90 days before you apply for a loan. This doesn’t have to come from alone wages but must be stable. It can be made up of fixed Centrelink benefits, investment revenue or superannuation drawdowns.
  3. Residency: you’ll need to be a permanent Australian resident or citizen to take out a loan. Temporary residents are unlikely to be considered by most lenders.
  4. Contact: you need an active mobile phone number and a working email address to apply. Your email address will come in handy when you need to sign your loan contract.
  5. Banking: a lender will ask to review 90 days’ worth of online banking statements, so having access to your bank accounts online is a must.

If you tick all the boxes, you can start your initial application. It should only take ten minutes to complete and you’ll receive an instant decision once you submit it. If you receive instant approval on your online loan, your direct money lender runs a few checks as part of the formal approval process, after which you can receive formal approval and funds in your account as soon as the same day you apply.

What documentation and details do I need to supply to my direct money lender?

If you need cash today, you’ll need to share some documentation and details so you can be considered for a loan.

First and foremost, you’ll be asked to share some personal and professional details as part of the application process so you can receive an instant decision. These details will include:

Application details
Personal details
Full name, date of birth, contact information
Residency
Address, residential status, monthly rent/board/mortgage costs
Employment
Job status, place of employment, job tenure, the industry you work in
Income
Income after tax, frequency of pay, next pay date
Centrelink benefits
Whether Centrelink benefits make up more than 50% of your income

Once you’ve provided this information, your direct lender will require you to supply some documents to prove your identity. This information can be securely uploaded to an online portal. Your lender will generally ask for the following:

  • Australian driver’s licence or passport
  • Medicare card

However, a mix of the following can also be used if you lack some of the above identification.

  • Birth or citizenship certificate
  • Proof of age card
  • Council rates notice or utility bill
  • A pension or concession card
  • Foreign driver’s license or passport

Remember that if you’re factoring in government benefits towards your online cash loan in Australia, you may also need to supply a Centrelink income statement to prove what you earn.

How long can I take to repay my loan with a direct money lender?

You can take anywhere from 16 days to two years to pay back your direct cash loan, depending on how much you’re approved to borrow. The loan term you choose will determine what you regularly repay and how much you pay in fees. Payday loans in Australia come with repayment term options of between 16 days and two years.

While your repayments will be smaller if you choose a longer term, you’ll pay more in monthly fees. If you take out a shorter term, though, your repayments will be larger but you’ll save money across your term. For example, paying off a $2,500 loan over nine months instead of 12 may increase your monthly repayments by around $81, but you’d save $300 in fees overall.

Why apply for a small loan with Savvy?

Frequently asked direct money lender loan questions

How can I spend my loan with a direct money lender?

Whether you need to do some odd jobs around the house or cover the cost of an expensive surgery, you can use a quick cash loan to cover a range of urgent and non-urgent expenses. Some of these include medical or vet bills, travel, vehicle repairs, home renovations or maintenance or simply bundling up some debts.

What fees are included in my loan?

Payday advances come with two types of fees, including:

  • An establishment fee: this fee is charged at $400, regardless of the size of your loan.
  • A monthly fee: this ongoing cost is capped at 48% of your loan amount over a year.
Can I get a loan with bad credit?

Yes – bad credit isn’t an issue if you’re applying for a payday loan. Lenders prefer to take a broader look at your credit history rather than focus on your credit score when considering you for approval. This gives them a much better idea of what type of borrower you are and whether you can afford to repay your loan right now.

How quickly can a direct lender send funds to my account?

Your lender will release your loan funds not long after your return your signed loan contract and can land in your account as soon as the same day you apply. How soon you receive them in your account will depend on when you applied and your bank’s transfer speeds. If you need money fast, it’s best to apply earlier in the day or week to improve your odds of a same-day approval and payout, as lenders can only formally process applications during business hours and some banks may delay transfers made outside of business hours.

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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.