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Lifestyle Loans

Craft your ideal lifestyle by applying for a small loan through Savvy today, with fast approvals up to $5,000.

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 December 11th, 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 December 11th, 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.

Sometimes, life calls for a little extra financial support to maintain or improve your lifestyle. Fortunately, lifestyle loans through Savvy provide that extra boost. You can apply for a lifestyle loan through us and gain the flexibility to use your funds however you like, with instant outcomes and approval and funding as soon as the same day. Don't let financial constraints limit your aspirations; get started with Savvy today!

How do I get a lifestyle loan?

You can acquire a swift and hassle-free small loan to cover the expenses of your lifestyle financing or enhancements, which can be done through Savvy. Designed for rapid application, approval, and fund transfer, these loans are ideal for urgent needs or unexpected situations.

Savvy simplifies the application process for a lifestyle loan, ensuring a user-friendly experience. Follow these straightforward steps to apply for a speedy lifestyle loan:

  1. Complete our application form, providing details about yourself, including credit score, income, employment, and more.
  2. Submit your application and swiftly receive an instant, automated outcome from our network of lenders.
  3. If conditionally approved, your application undergoes assessment by your designated lender, potentially requiring additional documentation.
  4. Upon the lender's satisfaction, you'll receive formal approval and loan documents outlining terms, fees, repayment schedule, and other relevant details.
  5. After signing and returning the documents, your funds will be promptly transferred to your nominated account.

How much can I borrow with a lifestyle loan through Savvy?

For lifestyle loans, Savvy provides a flexible borrowing range, allowing you to secure any medium loan amount between $2,050 and $5,000, subject to meeting the required private lending eligibility criteria. This versatile spectrum caters to diverse financial needs, empowering individuals to choose an amount aligned with their specific lifestyle requirements.

It's important to recognise that the amount you can borrow may vary based on your unique financial situation, ensuring a tailored approach tailored to individual circumstances. Your borrowing capacity is influenced by factors such as credit score, income, existing liabilities, savings, and other relevant financial considerations. Remember that your income must come from one or more jobs with stable pay and hours and/or eligible Centrelink payments.

How long will it take to receive my lifestyle loan funds?

When it comes to your lifestyle loan, the application process is designed for efficiency, offering the possibility of formal approval and fund release on the same day. However, approval hinges on your application successfully meeting all lender criteria and passing required assessments. Consider that the speed of your application's approval can be influenced by various factors:

  • The complexity of your application, which may include considerations such as defaults and the consistency of your income.
  • Your lender's processing time, affecting the duration of the assessment process.
  • The timing of your application submission, with those outside business hours waiting until your lender opens for formal assessment.

Why apply for a small loan with Savvy?

Frequently asked questions about lifestyle loans

Are lifestyle loans available for those with bad credit?

Yes – lifestyle loans are available for individuals with bad credit, assuming you meet your lender’s other criteria. Conventional lenders may place significant emphasis on credit history, but lenders offering lifestyle loans understand that financial situations can vary. They consider your present circumstances, making these loans accessible even with a less-than-perfect credit score.

Is early repayment an option for lifestyle loans?

Yes – early repayment is an option for lifestyle loans. These loans offer plenty of flexibility, allowing borrowers to pay off their balance ahead of schedule without incurring any additional charges. Because of this, settling your loan debt early can be a financially savvy move.

Can I use my lifestyle loan for multiple different purposes?

Yes – lifestyle loans are versatile, allowing you to apply the funds for various purposes beyond what's initially specified in your application. Whether you have extra funds after covering your intended expenses or want to address additional needs such as covering your legal costs before settlement, the choice is yours. However, be aware that there are certain limitations on how the funds can be used, such as for activities like gambling.

How much will my lifestyle loan cost?

Your lifestyle loan costs mainly comprise the establishment fee (capped at $400) and monthly fees (capped at 48% of your loan’s total value per year). The specific amount you'll pay is influenced by factors like:

  • The loan amount
  • Your loan duration (between 16 days and two years)
  • Chosen repayment plan (weekly, fortnightly or monthly)
  • Occurrence of additional repayments
  • Applicable conditional fees, such as late repayment or dishonour fees

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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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