fbpx

I Need Money ASAP

Need money ASAP? Get a small loan with Savvy today. 

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
|
|
|
|
|
$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.

If you find yourself in an emergency situation and need money ASAP, Savvy can help you get a small loan in a flash. We partner with flexible online lenders who specialise in quick processes and rapid outcomes, so you won’t have to hang about long for a decision on your application.

You can apply, get approval and have your money transferred all from the convenience of your smartphone or laptop with our straightforward online applications. Apply with Savvy and get yourself out of a tricky financial situation ASAP.  

How do I get the money I need ASAP?

Applying with Savvy is one of the best ways to get an instant loan as soon as possible if you need to borrow money. Our application process is quick and simple to complete and, in most cases, you can be approved and receive your money on the same day you apply.

When you’re ready to start your application, you’ll need to choose a loan amount between $2,050 and $5,000 and tell your lender why you need it. It’s also a good idea to check your lender’s eligibility requirements, which should be easy to find on their website. Generally, to apply for a loan in Australia you must be:

  • Over 18 years old
  • A permanent Australian resident
  • Earning a steady income
  • No active payday loans
  • Active phone number and email
  • Access to 90 days of digital bank statements 

When you need to borrow money, lenders require you to submit some identification to prove your identity. Valid forms of ID include:

  • Australian driver’s licence
  • Australian passport
  • A Medicare card 
  • A proof of age card

Once you’ve double-checked that you tick all the boxes, you can start providing some personal details as part of the initial application. Lenders will want to know a bit about you, including how often you work, what you earn after tax and whether more than half of your income is made up of Centrelink benefits. After you’ve shared these details and more, you can submit your application and get an instant decision.

If you’re instantly approved, your lender goes about verifying the information provided as part of your application. This includes running quick credit and income checks to ensure you can comfortably afford the loan you want. If your lender is satisfied that you’re able to manage your repayments, you’ll be offered formal loan approval. Once you sign and email back your loan contract, your funds can be released.

If you need money fast, applying earlier in the day or week may increase your chances of same-day approval. Lenders won’t be able to formally process applications 24/7, so getting your application in early will help avoid it becoming a multi-day process. Whether you receive your funds on the same day you’re approved may also come down to your bank’s transfer speeds, which can vary depending on when a payment is made. For example, transfer times tend to be faster earlier in the day and slower overnight or on weekends.

How much will my loan cost when I need money ASAP?

These types of quick cash loans come with fixed fees calculated based on the amount of money you borrow, so the amount your loan will cost you depends on the size and term you choose.

When you take out a loan, your lender will lay out the fees which will apply in your loan contract. There are two fixed fees which are standard across lenders, including:

  • An establishment fee capped at $400.
  • A monthly fee calculated based on a cap of 48% of your loan amount over the course of 12 months.

You’ll get between 16 days and two years to repay your loan. How much you pay in monthly fees will depend on the loan term you choose; for example, if you took out a loan of $3,000 over six months instead of nine, you’d save $360 overall on monthly fees.

Making extra repayments across your loan term is another way of reducing the costs of your loan. For instance, by making an extra $100 repayment per month on a $3,000 loan with a term of two years, you’d pay your loan off in fewer than 14 months, saving you well over $1,000.

What can I spend my loan money on?

When you need money in a hurry, these types of emergency loans in Australia are handy, as you can use them for a range of urgent and not-so-urgent costs. Some of these include:

Medical procedures

Incurring a hefty bill after you’ve visited the doctor or the dentist for an urgent procedure can be a hassle you’d rather not deal with. You can take some pressure off your budget and use a loan to pay for it.

Car repairs

In the hustle and bustle of modern life, a car can help you juggle school drop-off and getting to work with ease. However, when your vehicle breaks down, the costs can start to add up when you need to repair it. You can get back on the road with ease by covering the costs with a cash loan.

Rent bonds or arrears

Whether you’re moving house and need to fork out for a bond or you’re behind on your rent, you can pay these expenses with a small loan today.

Overdue bills

If you’ve opened your mail and experienced a case of bill shock, don’t worry. If you need money now to pay for outstanding and costly utility bills or other expenses, a cash loan can help you cover them now and pay for them at a pace which suits you.

Why apply for a small loan with Savvy?

Answers to important questions when you need money ASAP

Do I need employment verification to get a loan?

Lenders typically won’t need to run a check of your employment if you're earning a steady income. However, if your work is a little inconsistent or you’ve just started a new job, your lender may need to check your employment to make sure you’ll be earning enough consistently to cover your loan repayments.

Can I apply for a loan if I’m a pensioner?

Yes – you can get a loan if you’re a pensioner or retiree, so long as you receive some form of steady income. This can be from a stable Centrelink payment, such as the aged, disability or veteran’s pension, but can also come from other sources such as investment revenue or superannuation withdrawals.

Can I apply for a loan if I have bad credit?

Yes – bad credit won’t be a problem if you need cash today. Lenders prefer to look at your wider borrowing history when considering you for a loan, rather than concentrate on your credit score. They’ll weigh up factors such as your repayment history on similar loans and any active loans you’re paying off.

Is it better to use my credit card than take out a loan?

If you can repay any purchase during your credit card’s interest-free period, it may be worth considering using your card. However, if you can’t, you may end up paying costly interest which builds each month you’re unable to pay it off in full. Payday loans come with fixed fees and repayments, making it more manageable to repay your purchase without worrying about ballooning interest. The option which is best for you will depend on your preferences and financial capabilities.

Helpful small loan guides

Small Loans Banner - Young couple looking at their finances and needing money desperately

I Need Money Desperately

Apply for your small loan with Savvy today and get an outcome fast. Borrow up to $5,000 Outcome in 60...

Small Loans Banner - Young couple assessing their financial situation before applying for a loan

No Credit Check Loans

Find out whether you can get approved for a loan with no credit check and get your application started with...

Small Loans Banner - Young couple working out their finances before applying for a loan

No Questions Asked Loans

Looking for a quick cash loan? Apply with Savvy today. Borrow up to $5,000 Outcome in 60 seconds Flexible repayments...

Small Loans Banner - Woman typing on her laptop while sitting in her kitchen

Need Money Now

You can apply for a cash loan online when you need money now and get funds in your bank by...

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.

We'd love to chat, how can we help?

By clicking "Submit", you agree to be contacted by a Savvy Agency Owner and to receive communications from Savvy which you can unsubscribe from at any time. Read our Privacy Policy.