Direct Money Lenders
Apply with Savvy and find the right direct money lender for you today.
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:
- Age: you must be at least 18 years old to apply for a loan.
- 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.
- 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.
- 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.
- 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:
Full name, date of birth, contact information
Address, residential status, monthly rent/board/mortgage costs
Job status, place of employment, job tenure, the industry you work in
Income after tax, frequency of pay, next pay date
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
Helpful small loan guides
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.