Need a fast and easy loan? Apply online with us today.
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Fact checked
When you need a quick loan but can’t wait until pay day, Savvy can lend a hand. Our online loan process is fast and easy, allowing you to get a decision instantly once you apply for your loan.
Every step of your loan application is online, allowing you to apply, be approved and get funded from the convenience of your smartphone or computer. Don’t wait until your next pay comes in: apply with Savvy today.
If you’re chasing some quick cash, you can apply for a fast loan with Savvy. Our online application process is streamlined to save you time when you need some fast and easy cash. That means you can get approved and funded as soon as the same day you apply in most cases.
The initial online loan application takes about ten minutes to complete, after which you’ll receive an instant decision. If you get the green light, your lender will verify your income and borrowing history while considering you for formal approval.
If they’re happy with everything and offer final loan approval, lenders can release the funds to your nominated bank account once you sign and return your contracts. Your money should hit your account on the same day you apply, although this can be dependent on your bank’s payment transfer speeds.
There are a few things you can do before you apply to reduce hiccups and ensure you get your loan fast and easy. Some of these include:
It’s also a good idea to double-check you meet your lender’s eligibility requirements for applying for a quick loan. There’s nothing more heartbreaking than completing your application and finding out you aren’t eligible. The standard requirements include:
The cost of your loan will depend on how much you borrow and how long you take to repay it. Quick cash payday loans come with a few fixed fees, and there are ways to save money on these over your loan term. The way these are applied to your loan are as follows:
The less time you take to pay off your loan, the more money you’ll save on fees. This is because monthly fees accrue over the time you take to repay your loan. For example, if you took out a $2,500 loan over nine months instead of 12, you’d save $300 in monthly fees.
Making extra contributions can also fast-track the repayment of your loan. Lenders don’t charge early repayment or exit fees, so you won’t have to fork out for additional charges if you want to wrap up your loan ahead of schedule.
Yes – bad credit won’t matter when you’re applying for a quick loan. Payday lenders assess loan applications differently from the big banks, choosing to look at your wider borrowing history rather than focus on your credit score.
While bad credit is unlikely to impact your chances of approval, lenders will still conduct a quick credit check when considering you for formal approval. This gives them a more complete picture of your borrowing history, including your repayment track record on similar loans, any credit products in your name (such as credit cards and their limits) and hard enquiries made to lenders over the last few years.
It can be tempting to look for ‘no credit check’ loans if you have a less-than-perfect credit history. However, responsible lenders don’t offer ‘no credit check’ loans. Under Australia’s lending laws, licensed lenders must run a credit check to ensure the repayments are easy to manage and affordable for the borrower. Lenders are unlikely to approve you if they think your loan will cause undue financial stress, but a bad credit score is unlikely to be the main deciding factor. As such, there’s no need to look for loans without a credit check.
Aside from a credit check, lenders review your borrowing power when assessing you for a loan between $2,050 and $5,000. There are many factors which are taken into account when lenders review your borrowing capacity, including your income, regular expenses, level of debt and how much you have saved in the bank.
No matter the time of day or week, you can complete your small loan application with us online.
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
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.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
