Emergency Cash Loans with No Credit Check

For an emergency, are fast cash loans with no credit check really a possibility?

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.

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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.

Life can throw us curveballs sometimes which we aren’t prepared for and our finances won’t always be able to cover us. If your credit rating isn’t looking its best, though, can you still get finance to help out in an emergency? A small cash loan might be one solution to the problem.

Can I get an emergency cash loan without a credit check?

No – in Australia, no reputable lender is going to offer a loan with no credit check whatsoever. No matter how lenient or understanding a lender might be, they’re not going to process your loan application without first reviewing your credit file; there’s always some level of checking to make sure that you can pay back a loan. Bad credit won’t stop you from getting emergency financing, though, especially if you’re only looking for a small cash loan. Many smaller online lenders may still be willing to help, meaning you may still have decent cash loan options on the table.

Savvy’s instant loan application process can connect you with one of our lenders at any time of day. Our five-minute application process is fast and simple and you can get lender approval within 60 seconds of clicking submit. Once you’ve sent through your supporting information, you can expect a final loan contract the same business day (often within one hour) and you can see your emergency funds hit your account on the same day – that's very quick cash!

What are my emergency finance options if I have poor credit?

You can still get a small cash loan even if you have a bad credit score. Poor credit isn’t the end of the world when it comes to getting a small cash loan. Although larger financial institutions and big banks are cautious when it comes to credit scores, that’s not the case for every lender. Many online lenders are far more tolerant of a low credit score – they're generally more concerned with the start of your finances right now than your credit history in the past.

At Savvy, we can connect you with lenders who are willing to help out when you’re doing it tough. They can arrange cash loans of up to $5,000 for people in a variety of situations and are willing to work with applicants with bad credit or those with alternative sources of income, like Centrelink. These lenders will usually specifically have a bad credit loan product, which is a kind of loan specifically for low credit ratings, but this may not be necessary if you only need a small amount to be repaid over a short period.

Why do I need a credit check on an emergency cash loan?

Your credit rating is intended to give a general measure of how reliable you are with money, but it also serves other purposes as well. Part of the reason for a credit check is simply a matter of verifying your identity and confirming some details about who you are. Also, when it comes to small cash loans, many lenders aren’t as worried about your credit score so much as your actual financial situation. As such, a credit check is also just a matter of confirming if you have any other existing debts or recent defaults. They want to know that you can pay off a loan, and having other loans and debts currently outstanding can affect that. A credit check is just part of the process, and it doesn’t automatically prevent you from getting very quick funds in an emergency situation.

Why apply for a small loan with Savvy?

Common questions about getting an emergency cash loan

How long before I need to pay back the cash from an emergency loan?

With a cash loan from one of our lenders, you have a fair amount of flexibility when it comes to repaying the money. You can choose to pay the loan off in just 16 days and minimise what it'll cost you in fees, or stretch it out to 24 months to keep repayments low. Everyone’s needs are different, so consider what works best for you.

What will an emergency cash loan cost me in fees and interest?

Lenders can’t charge interest on a small loan like they would on a home loan or business loan. They can charge fees, but these are generally capped. You can only be charged no more than $400 for an establishment fee and 48% of the loan total each year in ongoing repayment fees.

What can I use an emergency cash loan for?

Just about anything – you're not limited to solely emergency reasons for cash loan usage. So, if you borrow $5,000, you could spend part of it on a replacement for your broken fridge, part of it clearing some imminent bills and the leftovers on groceries. There are a few restrictions (no gambling, for example). But for the most part it’s up to you what you do with the money.

Can I still get a loan if I’m on Centrelink benefits?

Yes – regardless of if you’re unemployed, on an age-pension, on a parenting payment or on any other type of Centrelink benefit, you should still be able to get a small cash loan in an emergency. This is especially the case with online lenders, who are generally more willing to work with you in difficult circumstances. Some lenders might apply some additional conditions for customers on a Centrelink income (such as a limit on how much you can borrow) but you still have options on the table.

Can I check my credit rating for free before applying for an emergency cash loan?

Yes – you’re entitled to get a report on your credit rating and history once every three months. There are a number of agencies in Australia that can provide you with your free credit report, with Equifax, Experian, and illion being three of the better-known ones.

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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.