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Guaranteed Payday Loans in Australia, No Matter What

Need a small loan to tide you over? Savvy has you covered.

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.

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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.

Cash loans allow borrowers access to funds for a variety of purposes, with the minimum of fuss. They’re a quick-to-arrange solution and repayments are extremely flexible, so they’re ideal for coping with unexpected events and costs, or even for taking advantage of sudden opportunities – like in impromptu weekend away, for example.

The good news is you absolutely can get funds easily and quickly with just a short online application with Savvy. Cash loan lenders offer a fast experience. Borrowing isn’t guaranteed, but it’s certainly quick and convenient. 

Can I get a guaranteed payday loan in Australia, no matter what?

No – there’s no such thing as guaranteed approval for payday loans in Australia. You’ll need to qualify and prove you can afford to repay your borrowing, no matter what. That doesn’t mean you can’t get access to fast, convenient short-term borrowing when you need it most, though. Online lenders offer a couple of distinct advantages for borrowers.

Firstly, they operate within strict responsible lending guidelines, so they can assess payday loan applications very quickly. While you won’t qualify if your loan isn’t affordable, it means that things are black and white. That allows lenders to automate many parts of the process and turn around decisions in minutes. Lenders check your credit report and bank statements to make sure you don’t have too much existing credit and also compare your income and spending to ensure you can afford to repay what you’ve applied to borrow without difficulty.

Secondly, payday lenders offer entirely digital application portals. That means you can fill out any online forms and upload ID and documentation via the web, further speeding up the process. When it comes to settling your loan, lenders transfer money directly to your bank account, so all-in-all, it’s a speedy process.

How do I apply for a payday loan and am I guaranteed to qualify?

Whether you are successful will depend on meeting the lender’s qualification requirements, but you can guarantee you’ll have a quick application process by being careful with the application and providing everything the lender needs to make a decision.

To begin, you’ll just need to tell Savvy a little bit about yourself – like where you live, how you earn your income and what you spend – as well as what you need to borrow and why. We’ll then match your details with the best loan provider from our extensive partner panel, which increases your chance of a trouble-free application.

Once we’ve done that, we’ll put you straight in touch with the lender, and you can begin your application. Lenders will need a few basic documents as well as getting you to fill out a quick form on their end to ensure that you have the means to comfortably manage the loan that you’re applying for.

From there, your lender can approve your application and transfer funds within one business day, with many offering to turn these around within just an hour or two. If you’re looking to maximise the speed of your application, apply earlier in the day so that you’re given the best chance to receive your funds fast.

Why apply for a small loan with Savvy?

What documents do I need to apply for a payday loan?

Frequently asked questions about payday loans

How much can I borrow with a payday loan?

You can borrow anything between $2,050 and $5,000 with a payday loan, subject to the lender’s assessment of your income and spending.

How much interest will I pay on a payday loan?

Payday loans don’t use an annual percentage rate like with traditional personal loans. Fees are fixed and based on a percentage of how much you borrow. You pay a maximum of $400 in establishment costs, while you'll be charged no more than 48% of your loan amount per year in monthly fees.

How long do I get to repay a payday loan?

Loans can be repaid as quickly as just sixteen days or as long as two years.

What can I use a payday loan for?

Payday loans can be used for pretty much any purpose you need. Many borrowers use cash loans for rental bonds, take out small loans for veterinary bills, and even pay for urgent car repairs.

How do I repay a payday loan?

Payday borrowers can set up a direct debit to repay their loan. You can also choose to specify either weekly, fortnightly, or monthly repayment schedules to match how your income comes in. You can even choose the dates to match that, too.

Can I get a payday loan with bad credit?

Yes – depending on how recent your credit problems were and how severe, lenders will still consider applications for a payday loan with bad credit. You can get approved if you’ve had a Part 9 Credit Agreement in the past, and it’s now finished. You can also apply for a payday loan if you’ve been discharged from bankruptcy for more than eighteen months.

Are there any fees for paying down a payday loan early?

There are absolutely no early repayment fees for a payday loan – or for making voluntary extra payments during the term. You can usually do either using BPAY, so if you’re ready to pay off what you borrowed, you can get in touch with your lender. They’ll provide the relevant details for making a final repayment.

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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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