Easter Loans

Make Easter a little sweeter. Get a loan with Savvy today.  

Apply in less than 10 minutes.

Last updated on July 25th, 2022 at 05:18 pm by Kurtis Eichler

Get a small loan for Easter from $300 to $5,000

Indulging in chocolate eggs and long lunches is all part of the joy and splendour of Easter but buying gifts and preparing food can be costly. If you need a quick loan to get you through the holiday period, you can hop on over to Savvy.

We’re partnered with reputable lenders who offer fast Easter loans. Applying online is fuss-free and you’ll get an instant outcome on your loan application, leaving you more time to spoil yourself with chocolate eggs.

Apply with Savvy and get an Easter loan today.

What is an Easter loan and how do I apply?

An Easter loan is a small loan taken out to cover the many costs associated with Easter and the long weekend. You can apply online with Savvy for loans ranging from $300 up to $5,000 and use it to cover the cost of chocolate Easter eggs, gifts, food for Good Friday lunch and travel to visit family and friends.

Applying for an Easter loan with Savvy is fast and 100% online, with formal approval available on the same day in most cases. Keep in mind that applying earlier in the day and having your documents at hand will better your chances of being approved quickly.

To start your application, tell us how a bit about yourself, your finances and how much you want to borrow. You can give us your contact details such as a mobile number and email address so we can get in touch with you, as well as some information about your current employment and your income.

You’ll need to provide proof of identification through our secure portal. This can come in the form of the following documents:

  • A driver’s licence
  • An Australian or foreign passport
  • A Medicare card
  • A utility bill or bank statement
  • A government-issued proof of age card
  • A birth certificate

Once these checks are done, you’ll receive an instant outcome on your application. If you’re approved, direct lenders will run a credit check on your application as part of the formal approval process and verify your income and expenses via a ‘read-only’ copy of your bank statements.

You’ll likely receive formal loan approval a short time after these checks should everything be successful. Your lender will email a loan contract for you to sign and return so your funds can be transferred into your nominated bank account. In most cases, this money will be available on the same day you apply, although this will depend on the speed of your application, your bank’s transfer time and whether your lender will require any further information.

How long do I have to repay an Easter loan and what are the costs?

Easter loans come with repayment term options of up to two years, depending on how much you borrow. Loans up to $2,000 come with term options between 16 days and one year while you can repay loans above $2,000 over two years.

These loans don’t accrue interest but do come with capped ongoing costs calculated based on your borrowing amount. Payday lenders also don’t charge break or early discharge fees, so if you decide to pay your Easter loan earlier than expected, you won’t be penalised.

An establishment fee is charged when you take out an Easter loan. This fee is calculated at 20% of your loan amount if you borrow up to $2,000 or capped at $400 for loans above that amount.

Rolling monthly fees are also charged, calculated based on your loan amount. Loans up to $2,000 come with monthly fees capped at 4% of the total amount, while those above $2,000 have their fees capped at 48% over the course of a year.

However, there are ways to go about saving money on your loan. Opting to pay it off over a shorter term can save you important money on fees. See how repaying a $3,000 loan over a reduced period can reap bigger savings in the table below:

Loan Amount Term Period Set-up Fee Monthly Repayment Monthly Fee Total Cost
$3,000
Nine months
$400
$497.78
$120
$4,480
$3,000
One year
$400
$403.33
$120
$4,840
$3,000
Two years
$400
$261.67
$120
$6,280

Frequently asked Easter loan questions

How do I know I’m eligible for an Easter loan?

You must meet the following eligibility criteria to qualify for a loan:

  • Over 18 years old
  • A permanent Australian resident or citizen
  • Access to your funds via online banking
  • An active mobile phone number and email address
  • A steady and ongoing income
Can I get an Easter loan with bad credit?

Yes, you’ll be able to apply and be approved for an Easter loan if you have a less-than-perfect credit score. Lenders focus on checking your ability to afford a new loan rather than your credit score. They will however run a check of your credit history to see if you have any similar active loans or defaults.

How soon can I get my Easter loan?

You can get your Easter loan paid out on the same day you apply, which is handy if you need money fast. This will depend on several factors, however, such as whether your lender requests further information to complete your application (although this shouldn’t slow your application down by much). Your bank’s transfer time can also impact the speed of receiving your funds.

Can I get a loan on the weekend?

Yes – you can apply for a loan on a weekend but approvals and funding are only available during business hours. So, if you find yourself in need of a loan over the Easter long weekend, you can still apply on a public holiday and receive an instant outcome, but your loan won’t be able to be formally assessed until Tuesday in most cases. Some lenders are open on Saturdays, though, so you may be able to get approved and funded on the weekend in this situation.

Does an Easter loan have to be used for Easter purposes?

These quick online loans can be used for a variety of expenses, not just those relating to Easter. You can use a loan to pay for car repairs, new furniture or white goods, living expenses or medical procedures.

Can I apply for an Easter loan with defaults?

Reputable lenders will be hesitant to approve you for a payday loan if you have defaults for similar loans on your credit file. However, some payday lenders may be able to help you. They may consider the timing of the defaults and your wider credit history when considering you for approval.