Furniture Loans

Furniture Loans via Savvy give you the freedom to shop where you want, and it won’t cost you the earth.

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.

Flexible furniture loans

Shopping for furniture can put a real strain on your finances, right at a time when you’ve got lots of other expenses. If you’re in the middle of moving home, there’s a lot to buy and pay for. Settling for finance at the furniture store isn’t always the cheapest way to set up a home. What looks like a great deal can often harbour a host of hidden fees – plus, it’s harder to shop around for the items you really want. Luckily, you can access flexible, cost-effective furniture loans via Savvy. What’s more, they’re multi-purpose, so you can cover a range of moving expenses with one fixed, affordable monthly repayment.

Fast, affordable finance

Savvy helps thousands of Australians when they move home, refurnish their existing place, or even need to set up a guest room. We partner with a diverse selection of lenders to bring you a range of easy to access, versatile solutions for purchasing all kinds of home items – such as white goods like washing machines, furniture like sofas and dining tables, and even flooring, carpets, or kitchen appliances. At Savvy, we know that when you’re on the move or making a home, you need fast, effective finance options, so we streamline our application process, and everything gets done online in a matter of minutes or hours.

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Why apply for a small loan with Savvy?

All your frequently asked furniture loan questions answered

What can I use a furniture loan to pay for?

Furniture loans are in a family of products called cash loans. These loans get regulated by the government in Australia, and they’re designed to be a multi-purpose way to borrow. That means, unlike with a car loan, where you need to tell the lender exactly what you’re buying, with a cash loan, you can pay for pretty much anything. For instance, you can use one loan to pay for furniture, a couple of utility bills, and removalist fees – with one monthly repayment to cover all the different costs.

Can I pay off furniture loans early?

You definitely can. One of the things about cash loans is they’re supposed to provide a convenient, cost-effective way to spread repayments for larger purchases over time. They’re a flexible finance solution, which means if you discover you no longer need the facility during the loan term, you can repay without paying any extra fees whatsoever. You can also make extra repayments during the loan.

Can I extend my furniture loan during the term?

You won’t be able to make any adjustments to the amount or term of the loan while it’s running, so it’s essential to think carefully before you apply and cover all the items and expenses you’re going to need. Lenders need you to repay your existing loan before you take out another one, so it’s worth giving things some thought before you borrow.

Do I need to provide security with a cash loan?

Cash loans for furniture are unsecured loans, which means you don’t have to use your new items as collateral when you borrow. Unlike most car loans, the lender won’t hold a claim over your furniture during the finance term.

Can I get furniture loans if I’m retired or self-employed?

You absolutely can. Cash loan qualification requirements are different from many other forms of finance. The lender is primarily interested in making sure you can pay your loan back without hardship. Pensioner loan repayments can be made using age pension income, and similarly, loans for the self-employed get assessed by what goes through your bank account each month – not so much by what you do for a living or how long you’ve been with an employer.

Why is it better to apply via a marketplace like Savvy?

Furniture stores offer a very limited choice of finance products – they usually only work with one credit provider. When you apply for furniture finance via Savvy, you’ll see a wider choice of cash loan lenders – and they offer finance specifically designed for purchases like furniture.

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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.