Express Loans

Apply for express loans up to $5,000 through Savvy today and enjoy a rapid approval and funding process.

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 November 29th, 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 November 29th, 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.

Urgency demands swift solutions, so express loans available through Savvy are designed precisely for that purpose. By utilising our platform which connects you with an appropriate trusted lender, you not only gain access to instant outcomes but also the potential for formal approval and funding on the same day you apply. Take control of your financial situation with confidence and apply for a small, fast loan through us today!

What are express loans and how do they work?

Express loans, or small loans, provide a fast and simple solution when you need extra cash in a hurry. These short-term loans are popular among those looking to cover unexpected expenses, such as rising bills or car repairs. In terms of how they work, you borrow a small amount and pay it back in instalments over a specific period, which may vary from 16 days to two years. You get to choose how often you make these payments: weekly, fortnightly, or monthly.

However, it’s important to understand the costs associated with express loans. The fees depend on how much you borrow and how long it takes you to pay it back. There are two main fees to consider: the monthly fee, which is capped at 48% of your loan amount over a year, and the establishment fee, capped at $400. Having an idea of what these fees are can help you work out the overall cost of your loan.

How much can I borrow with an express loan?

Express loans and quick payday advances through Savvy offer the flexibility to borrow amounts ranging from $2,050 to $5,000, provided you meet the necessary lender eligibility criteria. This broad range caters to various financial needs, allowing applicants to choose an amount relevant to their specific requirements. However, it's important to understand that each applicant's borrowing capacity is influenced by a range of variables. These include credit score, income, existing liabilities, savings, and other key considerations. As a result, your borrowing amount may differ from another applicant with distinct financial circumstances.

Ultimately, your loan amount is contingent on what you can comfortably afford to repay on an ongoing basis. Your income, which will be sourced from stable employment (one or more jobs) with consistent pay and hours and/or eligible Centrelink payments, will play a major role in determining your eligibility. For instance, if you're seeking a loan with fortnightly repayments of $600 but only earn $500 per fortnight, your application won’t be accepted.

How do I apply for an express loan with Savvy?

Applying for express loans through Savvy is a quick, straightforward and user-friendly process. Our application form takes just a few minutes to complete, allowing you to provide essential information about yourself, your income, employment, and more online. Once you submit it, you’ll get an automatic instant outcome within 60 seconds. If you’ve been conditionally approved, your lender will conduct a formal assessment, possibly requiring additional documentation.

If they’re satisfied with everything, your lender will offer formal approval. This will involve sending you loan documentation outlining all terms and conditions, including the repayment schedule, term, fees, and more. After reviewing and signing the documents, return them to your lender, and the funds can be advanced to your nominated account. You'll then begin repaying the loan according to the schedule selected in your loan contract.

Why apply for a small loan with Savvy?

Frequently asked questions about express loans

How fast can I access express loans?

Express loans prioritise rapid access. If your express loan application aligns with the lender's criteria and you provide the necessary documentation promptly, formal approval and funding may occur on the same day of application. Factors like application complexity, the lender's processing speed, and submission during business hours can impact the overall speed of approval.

Is it possible to get an express loan with bad credit?

Yes – obtaining an express loan with bad credit is still possible. Unlike traditional lenders that may prioritise credit scores, providers of express loans are often more flexible. They tend to be more willing to overlook past credit challenges, focusing on your current financial situation during the assessment of your application and profile.

Can I clear my express loan before the scheduled time?

Yes – paying off your express loan ahead of schedule can be a great way to reduce your overall costs. Express loans don’t impose penalties for early repayment, so the quicker you settle your debt, the less you'll pay in monthly fees overall.

What can I use an express loan for?

Express loans offer versatility in accomplishing financial goals. Whether it's handling immediate bills, covering week-to-week expenses, or helping you cover the cost of your brand-new phone, the flexibility of express loans allows you to utilise the funds as needed for prompt financial relief.

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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.