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Emergency Cash Loans Unemployed No More Hassle Australia

An emergency cash loan is no hassle with Savvy.

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.

Keeping on top of your bills can be even more hassle when you’re out of work and looking for a job. If unexpected costs arise, though, being unemployed shouldn’t stand in the way of you getting an emergency cash loan to cover some costs.

Fortunately, applying for your cash loan with Savvy is fast and simple. By partnering with reputable Australian lenders, we can help you get approved and funded as soon as the same day you apply. Start giving your budget some breathing space and apply with Savvy today.

Can I get an emergency cash loan in Australia if I’m unemployed?

Yes – you can get instant approval on emergency finance as long as you’re earning some form of steady income which can be made up of a mix of fixed government benefits and wages. For example, if you're unemployed and need a loan for Christmas, you can apply for one. Many fixed Centrelink benefits can be counted as sources of income when you apply for a loan, including:

  • Aged pension
  • Disability pension
  • Veteran’s pension
  • Carer’s payment
  • Single parent payment
  • Family Tax Benefit Part A and B
  • Child care supplement

Bridging Centrelink benefits, such as JobSeeker and Youth Allowance, for those temporarily out of work can’t be counted towards your fast cash loan. These are temporary measures meant to support you while you’re studying or transitioning out of unemployment. Investment revenue and superannuation payments are other forms of income that can be counted towards your loan application.

In terms of what you can borrow, you can apply for between $2,050 and $5,000, but how much you’re approved for will come down to your income, expenses, spending and current liabilities. Lenders will check your payment history on other cash loans as part of a credit check, which can also impact how much you can borrow.

How do I qualify and apply for an emergency cash loan with no hassle?

You’ll have to meet some standard eligibility requirements to qualify for an urgent cash loan, for which you can apply online with Savvy. To be eligible for a cash loan, you must meet the following requirements:

  • Over 18 years of age
  • A permanent Australian resident or citizen (some lenders may work with temporary residents on relevant visas)
  • A steady income
  • Access to internet banking
  • An active mobile phone and email address

Once you’ve checked that you meet all the criteria, you can go ahead and apply for your fast and convenient online cash loan with Savvy. After choosing your small loan amount and telling us why you need it, you’ll be asked to provide the following details to receive an outcome immediately:

  • Personal details: provide your full name, date of birth, mobile phone number and email address.
  • Residential status: tell us whether you rent, own or board and how much you pay on rent/board/mortgage costs.
  • Employment: provide us with your employment status, the industry you work in, tenure with your current employer and their name.
  • Government benefits: if you’re unemployed, tell us if your Centrelink income makes up more than 50% of your total income.
  • Income: you can tell us how much you earn after tax and how often you earn your wage.

Once you submit this initial application, you’ll receive an instant outcome from a direct money lender. The lender will then go about verifying the information you’ve provided during the initial application. This includes running a check of your borrowing history and requesting a read-only copy of your bank statements. If they’re satisfied with your application, you can receive formal approval soon after.

How fast can I get my emergency cash loan paid?

Your cash loan can be paid out with no hassle and hit your account as soon as the same day you apply. This will depend on several factors, including your application and personal circumstances.

After being formally approved, lenders will send you a digital loan contract to sign so your payday cash loan funds can be released to a nominated bank account. While your money should hit your account on the same day you apply, there are some factors which can impact this. These include your bank’s transfer times, the time you apply and whether your lender needs additional information.

The earlier you apply in the day and week, the less likely your application is to run into the next day or week. For instance, a Monday morning application is better than a Friday evening one in terms of having your application formally processed. It’s also a good idea to have your documents saved on your computer or smartphone so they can be readily uploaded and speed up receiving your funds.

Why apply for a small loan with Savvy?

Frequently asked no-hassle emergency cash loan questions

How long can I take to repay my emergency cash loan?

You can take up to two years to repay your loan, with shorter options as small as 16 days also available. Choosing a shorter term can save you money on monthly fees, while opting for a longer term will reduce the size of your repayments.

Can I apply for an emergency cash loan if I have bad credit?

Yes – a poor credit rating isn’t an obstacle to getting approved for an emergency cash loan when you apply with Savvy. Unlike other types of finance, your approval for a cash loan doesn’t ride on your credit score. However, Australian lenders will still run a check of your borrowing history to look at your payment history on other cash loans and check if you have any active loans. If you have bad credit, it’s best to steer clear of ‘no credit check’ loans, as these aren’t offered by reputable lenders.

Can I pay my loan out early?

Yes – you can repay your loan sooner than planned with no additional cost. This is because lenders don’t charge early repayment or break fees on payday loans. Repaying your loan early can also save you money on monthly fees you would have otherwise incurred by sticking to the regular repayments.

What fees will I be charged on my emergency cash loan?

Cash loans come with several costs which will be rolled into your loan payments. Choosing a shorter repayment term can help lower the cost of your payday loan. These include:

  • Establishment fee: a capped $400 fee on all loans.
  • Monthly fees: an ongoing fee charged on each repayment which is capped at 48% over the course of a year.
Can I use my loan to pay off another payday loan?

No – you can’t use one cash advance loan to repay another. Cash loans are very versatile and can be used for a range of reasons, including debt consolidation, new furniture and vehicle repairs. However, lenders don’t allow you to spend your money on gambling or repaying other short-term loans.

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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.

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