Emergency Cash

Need emergency cash? Apply with Savvy and get an instant outcome.

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.

Some expenses just can’t wait. If you’ve been hit with an unexpected bill and need cash to help you cover your emergency immediately, a small loan can help you get out of your bind.

Fortunately, you can apply right here with Savvy today. Our 100% online application process is easy and pairs you with a flexible lender who can approve you and deliver the funds you need quickly. Start your application with us today.

How do I get emergency cash?

The simplest way for most borrowers to access the cash they need in the event of an emergency in Australia is by taking out a small loan. This is a type of finance designed to provide quick and easy solutions if you find yourself in need of extra funds, enabling you to get approved for as little as $2,050 up to a maximum of $5,000. The application process takes place online from start to finish and can be turned around rapidly.

To begin with, you’ll be required to supply a set of information and documents so your lender will be able to assess your application and adequately determine whether you can afford to take on your loan. This will include your:

  • full name
  • contact information (phone number and email address)
  • purpose for taking out your loan
  • income (how much you earn and whether you’re a Centrelink customer)
  • employment information (where you work and your period of employment)
  • identity documents (in most cases a driver’s licence, passport and/or Medicare card)
  • current living situation (whether you own your home or are renting or boarding and how much it costs you)
  • online banking details (to provide access to 90 days of read-only statements)

Once you have all of these, you can submit them alongside your application. Our automatic process allows you to receive an instant outcome almost immediately after which will confirm whether your loan will be considered for formal approval. If so, your lender will formally assess your financial situation and conduct checks on your credit file to determine whether you can be approved. After you receive formal approval, you’ll be sent a contract to sign electronically and return. From there, the funds can be transferred to your account and received as soon as the same day in most cases. Compared to most other loan types, the approval process is easy.

The speed at which you receive your funds may vary depending on several different factors, though, such as whether you apply outside of business hours, whether your lender requires further information or even your financial institution’s processing time (some banks take longer than others to process transfers). However, once you receive formal approval and sign your contract, you can be sure the funds you need won’t be far away.

How much can I borrow with an emergency cash loan?

As mentioned, cash loans are available for $2,050 up to $5,000 in the event of an emergency. However, not everyone will be able to be approved for the same amount, as lenders will determine this based on several factors. These include:

  • How much you earn
  • What your ongoing expenses are
  • The stability of your income and employment
  • Your recent history repaying other similar debts
  • Whether you’ve taken out a payday loan in the past (lenders are more likely to approve you for more if you can show you’re able to repay these loans)

However, another major factor is how long you wish to take to repay your loan debt. These loans can be repaid over as little as 16 days up to a maximum of two years.

Your lender will want to see that you’ll be able to afford to repay your debt comfortably over the term you’ve requested without any major risk of default. For example, you may be more likely to be approved for a $3,000 loan with a 12-month term ($403.33 monthly repayments) than the same loan over six months ($686.67 per month).

What can I use my emergency cash loan for?

Cash loans are highly flexible and can be used to deal with a variety of potential emergency expenses when you need money desperately. These include:

  • Covering unexpected medical expenses
  • Helping pay for urgent car repairs
  • Funding flights to see family in an emergency
  • Giving your business access to funds for immediate improvements
  • Assisting you if you find yourself short on funds for Easter or Christmas

As mentioned, part of the process of getting approved involves telling your lender what you need your funds for. This is to help make sure they’re being put towards a good and necessary cause. Although they can be used for almost anything, you can’t take out a loan if the emergency which needs covering is paying off another cash loan.

Why apply for a small loan with Savvy?

More emergency cash loan questions answered

Am I able to get approved for an emergency cash loan with no credit check?

No – all cash loans are required to come with a credit check, as per responsible lending obligations in place for financiers in Australia. They must check your credit file to ensure you’re capable of repaying your loan and don’t have any defaults or anything else which may suggest you’re at risk of being unable to support your payments. However, it’s important to note that a bad credit score won’t stand in the way of approval: lenders are more focused on what you can afford here and now. As such, loans with an instant decision and no credit check don’t exist amongst reputable lenders.

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

Yes – you can take out a cash loan in an emergency even if you’re unemployed. As long as your income is stable and ongoing and you can afford your repayments, your application can be considered for approval. This means that loans for Centrelink customers are available, even if 100% of your income comes from benefits. Some of the eligible payments include:

  • Aged pension
  • Disability pension
  • Veterans’ pension
  • Single parent payments
  • Carer payments
What fees are charged on cash loans?

There are two fees which apply to cash loans. Your establishment fee is capped at $400 and ongoing monthly fees are capped at no more than 48% of your loan amount per year. By opting for a shorter loan term and making extra repayments, you can save much-needed funds once your emergency is covered.

Can I apply for an emergency cash loan 24/7?

Yes – you can apply for your cash loan at any time of day or night and receive an instant outcome. However, you won’t be able to have your loan formally approved 24/7. This must be done within your lender’s business hours, rather than being an automatic process. However, if you apply during the evening, you could have your loan processed, approved and funded as soon as the next day.

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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.