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Emergency Loans Australia

Need cash immediately? Get an emergency loan 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.

Life’s full of surprises and sometimes they hit your back pocket. Whether an urgent bill pops up out of the blue or your car needs fixing, you can turn to Savvy in an emergency to help you get a loan to give your budget a boost.

We partner with flexible Australian lenders who specialise in rapid turnarounds and instant decisions on applications. Get yourself out of a bind and apply with Savvy today.

How do I get an emergency loan in Australia?

If you find yourself in an emergency, getting the wheels in motion on your urgent cash loan is as easy as applying with Savvy. Our 24/7 application process is quick and straightforward, which you can complete online using your smartphone or computer.

Lenders will require you to meet a series of eligibility conditions before applying for an emergency loan. Ensure you double-check these with your particular lender, as they can occasionally vary. Eligibility requirements will generally include:

  • Age: at least 18 years old. You’ll be required to submit documents to verify your age and identity which can come in the form of a driver’s licence, passport and Medicare card.
  • Income: earning a steady income for the past three months. Lenders can factor in multiple forms of income when assessing your application. If your work is a little inconsistent, you can still be considered but may have to meet additional criteria.
  • Residency: a permanent Australian resident or a citizen.
  • Easily contactable: have a working mobile number and easy-to-access email address.
  • Access to online accounts: you’ll need to provide your lender with ‘read-only’ access to your online bank statements, so you must have access to internet banking.
  • No similar debt: it’s highly unlikely you’ll be approved if you have another unpaid payday loan in your name.

After you choose your loan amount (between $2,050 and $5,000) and how you intend to spend it, you can start your application, which shouldn’t take too long to finish. Some of the information you’ll be asked to supply include:

  • Personal details (name, date of birth, address)
  • Contact information
  • Employment status, who you work for, your job title and workplace tenure
  • Earnings after tax and how often you’re paid
  • Rent/mortgage/bond costs

You’ll receive a decision immediately after you submit your initial application, after which your lender can start cross-checking the information you’ve provided (assuming the outcome is positive). They’ll review your income and expenses and conduct a quick credit check. If this runs smoothly, lenders should be able to offer you formal approval on your emergency loan.

How quickly can I get my emergency loan?

In most cases, you’ll receive your money on the same day you apply, which is handy if you need emergency cash. You can have peace of mind that your loan funds will be in your account very soon after your approval and available for you to use.

Lenders will release your funds once you sign and return your loan contract. While your money will be paid out quickly, getting it on the same day you apply will depend on how fast your bank processes payments. Different financial institutions have different transfer times, with some taking up to one or two days to process transfers.

In some cases, lenders may require additional information or documents to complete your application. However, this is unlikely to delay the processing of your loan application by much.

If you find yourself strapped for cash on a Saturday or Sunday, there are some lenders who offer weekend loan approvals and funding. However, getting your loan funds on the weekend will still depend on your lender’s business hours, as no formal applications can be conducted when they aren’t open.

What can I use an emergency loan for?

It can be frustrating when life doesn’t go as planned and you’re forced to stump up for costs you weren’t expecting. Fortunately, you can use a payday loan for a variety of emergency costs, including:

Home repairs

If a pipe in your bathroom has sprung a leak or a cricket ball has ended up through your front window, you won’t have to scrape around for money for it to be fixed if you take out a loan.

Vehicle maintenance

When your car breaks down, the cost of getting back on the road can be eye-watering. You can apply for a cash loan 24/7 and pay off the cost of getting your car fixed over time.

Medical procedures

Whether you need to get some urgent dental work done or undergo some emergency surgery, you can use a payday loan to cover the costs.

New appliances

Fridges, washing machines and other electrical household appliances are very much a part of our everyday life, so if your white goods are on the blink and need replacing, you can apply for cash today to replace them.

Vet bills

An emergency trip to the vet to treat your beloved pet can be an expensive one. Take out a small loan and don’t fret about the bill. You can stop worrying about the cost and get back to focusing on your four-legged friend.

Why apply for a small loan with Savvy?

Frequently asked emergency loan questions

How long can I take to repay my emergency loan?

You get between 16 days and two years to repay your loan, with longer loan terms resulting in more affordable monthly payments but greater overall costs.

How much do emergency loans cost?

These types of same-day loans come with several fees, but how much these will cost you depends on how much you borrow. Choosing a shorter loan size or term, as well as making additional repayments, can help you save money on the fees you pay.

  • Loans come with an establishment fee capped at $400.
  • Monthly fees are capped at a fixed rate of no more than 48% of your loan amount over 12 months.
Can I get an emergency loan with no credit check?

You won’t be able to get a ‘no credit check’ loan through a credible lender. Australia has responsible lending laws in place which require reputable lenders to run credit checks on all applicants. This ensures the borrower can afford their repayments. If you’re concerned a bad credit score may hold you back, don’t fret: these credit checks focus on your wider borrowing history and are less concerned with your score.

If I’m unemployed, can I get an emergency loan?

Yes – you can be approved for a loan if you’re unemployed. Lenders don’t just accept wages when considering you for approval. They can also factor fixed Centrelink benefits, investment revenue or superannuation drawdowns as forms of income when assessing your application. As long as your income is stable and ongoing, you can count it on your application.

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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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