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Internet Loans Australia

Chasing a quick loan over the internet? Apply with Savvy 24/7.

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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$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.

With the small loan application process being 100% internet-based, fast funds are just a few clicks away no matter where in Australia you call home. You can apply online with Savvy using your computer or mobile whether you live in the Red Centre, along the coast or in a capital city.

By applying with us online, you can take advantage of our efficient and fast loan application processes which allow you to get approved as soon as the same day you apply, without even leaving the comfort of your home.

Apply with Savvy and get no-fuss finance today.

How do I apply for a loan on the internet in Australia?

It’s easy to apply for a personal loan on the spot with Savvy. The entire process from application to approval is 100% online, allowing you to apply 24/7 from either your computer or smartphone. Any personal documents can be uploaded electronically to our secure portal. Familiarise yourself with our step-by-step process below:

Submit your initial application

Select how much you want to borrow and what you want to spend it on. You can apply to borrow between $2,050 and $5,000, with available repayment terms ranging from 16 days to two years.

Provide your details including your full name, date of birth, email and phone number. Tell us a bit more about your living arrangements, and estimate how much you pay each month in rent, board or towards your mortgage.

You’ll need to be earning a steady income to apply. If you’re working, you can provide:

  • the name of your employer
  • how long you’ve worked for them
  • your job status
  • the type of industry you’re in

You can also declare your after-tax income and how often you get paid, including if you’re a Centrelink customer whose benefits make up more than half of your income.

Verify your details

Online money lenders will need to verify a few details before giving you an instant outcome. Firstly, you’ll have to provide 100 points of identification, which can include any of the following:

  • Driver’s licence
  • Australian or foreign passport
  • Medicare card
  • Government-issued proof of age card
  • Utility bill or bank statement
  • Birth certificate

You’ll need to provide access to a read-only copy of your bank statements over the last 90 days so your lender can double-check your income and expenditure. Once you’ve submitted all of these, you’ll receive an instant outcome on your application. From there, your lender will formally assess your application and details. They’ll run a credit check to determine whether you have any similar active loans or defaults.

If you’re formally approved, you’ll receive a digital copy of your loan contract which you’ll need to sign electronically and return to your lender. They can then transfer your loan funds into a nominated bank account. You’ll receive your loan funds on the same day in most cases, but this can depend on your bank’s transfer times. In some situations, you may receive your loan overnight or the next day. Lenders may also ask you for additional documents or further clarification before they grant formal approval.

What do internet loans cost in Australia?

You’ll be charged an establishment fee for taking out a cash loan and monthly ongoing fees while you’re repaying it. The establishment fee on a small loan is $400, while monthly fees are capped at 48% of your loan amount over the span of a year. For example, if you took out a $2,000 loan, you'd be charged no more than $80 per month in ongoing fees.

When choosing how long you pay off your loan, keep in mind you can save on fees if you choose to repay over a short term. For instance, if you borrowed $3,000 over six months instead of nine months, you’d save $360 on monthly costs. Making extra repayments can also save you money on fees, as you’ll be paying down your loan sooner and shortening your term.

What can I use an internet loan for?

Small loans can be helpful when you need some emergency cash to pay for a wide range of expenses. Some of the ways you can use your money include:

  • Living expenses
  • Medical or veterinary costs
  • Vehicle repairs or related costs
  • Debt consolidation
  • Furniture and white good purchases
  • Travel costs such as flights or accommodation
  • Home renovations or repairs

However, there are some minor restrictions on how you spend your money. For example, you won’t be able to use it for gambling or to pay off another small loan.

Why apply for a small loan with Savvy?

Frequently asked loan questions

What are the eligibility requirements?

To apply for a cash loan online in Australia, you must:

  • Be over 18 years old
  • Be a permanent Australian resident or citizen. In some cases, you can apply if you’re on a temporary visa
  • Be earning a regular income
  • Have access to your bank accounts online
  • Have an active mobile phone number and email address
Are pensioners eligible for small internet loans?

Yes – if you’re a Centrelink customer who collects a fixed and ongoing government pension, you can be approved for a quick loan. These payments can make up a portion, or all, of your assessable income. Eligible payments include aged, veterans’ or disability pensions.

Can I apply for a loan if I have no borrowing history?

Yes – past borrowing isn’t a necessity when applying for a small loan. After all, everyone’s credit journey has to start somewhere. Lenders will assess your financial situation as it stands now when determining whether to approve your application. This may impact your borrowing power, but you can still be approved.

I have a bad credit history. Can I still apply for a loan?

Yes – a poor credit rating isn’t a barrier to approval when you apply with Savvy. Our partnered lenders won’t rely on your credit score when weighing up your approval. They’ll consider your current earnings, payment history and other financial information when assessing your application.

Can I apply for a loan if I am self-employed?

Yes – you can get a loan if you’re self-employed. Lenders want to see you’re earning a steady and stable income, so this will serve as part of the key eligibility criteria if you’re self-employed. If you’re a freelancer or a sole trader who needs a small payday loan to tide you over, you can apply with Savvy. However, a lender may ask for more documents to verify your income in some cases.

Are small loans listed on my credit report?

Yes – any payday loans you take out are listed on your credit file. Your credit report provides lenders with a complete picture of your borrowing history. As such, every time you apply for new credit it will be listed on your report.

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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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