Instant Approval Loans Need Cash Today

How to get an instant approval loan to get the cash you need 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
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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.

In Australia, you generally have a range of options on the table when it comes to getting a loan, but what about when unexpected expenses leave you needing cash urgently? Find out more about instant approval cash loans and how they work here.

Can I get instant approval for a loan if I need cash today?

Yes – while getting approval for loans used to be a fairly slow process, it's now possible to get an instant loan with approval in minutes and money transferred on the same day thanks to the rise in popularity of online lenders. This means that if you have sudden unexpected expenses, you can get the extra cash you need to sort them out fast.

If you need an instant approval loan today to get some fast cash, Savvy can help you get approved quickly. Our simple application process takes the work out of comparing options and we can connect you with one of our lenders within moments of you clicking submit.

You can get a quick cash loan for up to $5,000 with instant approval (within 60 seconds), and you can receive the funds the same day. As the entire process happens online, you never need to leave the comfort of your own home, making for a quick, easy and convenient loan process.

What do I need to get instant approval for a quick cash loan today?

There are a few things you’ll need in place to be able to get an instant cash loan.

  • Firstly, there are a few basic criteria to be eligible for any loan. You need to be aged 18 and over, and you’ll need to be an Australian citizen or permanent resident. You’ll need to have earned an income for at least 90 days and you’ll need a way for the lender to contact you, namely via an email address or mobile number.
  • Secondly, you’ll want to know that you can afford to repay the loan. The amount each loan repayment will cost you depends on how much you borrow (and how quickly you plan to pay it off). So work out what you’re realistically able to repay, and only borrow what you can comfortably afford to pay off.
  • Thirdly, you’ll need some supporting documents so the lender can confirm the details of your application. You’ll need 100 points of ID (driver's licence, passport, birth certificate or Medicare card, for example) to confirm your identity and details. You’ll also need payslips and bank statements so the lender can verify your income and financial situation. These are submitted electronically, so you can either scan or take a picture of your documents to send to your lender. You should be able to get bank statements in digital format from your bank’s website.

Why apply for a small loan with Savvy?

How do I get instant approval for my cash loan?

Frequently asked questions about instant approval cash loans

Can I use the cash from an instant approval loan for anything I need?

Pretty much – one of the great advantages of an instant payday loan is the flexibility in what you can use it for. Travel expenses, bills, new appliances, household repairs, family holidays – all of them are perfectly good uses for an instant loan. There are a few basic restrictions, such as not borrowing to pay off other personal loan debts, but other than that the cash is available for whatever you need it for.

What fees should I expect on an instant approval cash loan?

Small cash loan fees are capped at $400 at setup, and a maximum of 48% of the total per year. These caps are put in place by the Australian Government, so they’re heavily regulated.

I need the cash today, but how long will I have to pay the loan back?

With a loan through one of Savvy’s suite of lenders, the choice is actually in your hands as to how quickly you want to pay it back. If money is tight, you might extend the loan out to 24 months to keep repayments low and affordable. Alternatively, you might choose to have everything paid off within three months, which increases your repayments but reduces the amount you’ll pay in fees overall.

What if I only need a loan to borrow a small amount of cash?

In Australia, an instant cash loan can be as little as $2,050. A loan that small can be a fast and easy short-term boost to your finances in a tight spot and because the fees are capped, if you pay the debt off quickly, you may save a significant amount compared to repaying over a longer loan term.

Is it possible to get instant approval for a cash loan with no credit check?

No – credit checks are just part of the process of approving a loan in Australia. In addition to showing your credit score, they’re also used to verify your identity. As such, you’re not going to find a reputable lender that will approve a loan with no credit check. However, it’s important to note that online lenders – like those available through Savvy – are generally very tolerant of bad credit ratings, so they don’t have to stop you from getting a loan.

What if my job doesn't come with a payslip?

While payslips are a pretty normal part of a loan application process, that doesn’t mean someone who’s self-employed, seasonal or who earns money through assets are automatically excluded. Payslips are used to confirm that you have enough income to pay off an instant online cash advance loan. Most online lenders are willing to work with alternative sources of income – provided you can show other evidence of that income (such as invoices for freelance work, or records of royalty payments).

Is it still possible to get instant approval for a cash loan if I'm on Centrelink?

Yes – many online lenders (including those Savvy partners with) are able to help someone on Centrelink benefits, as long as your income is enough to reasonably make your repayments.

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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.