Apply with Savvy and get an instant outcome on your small loan.
Instant cash loans can be a handy way of covering unexpected and expensive costs that crop up as part of the hustle and bustle of everyday life. If you’ve struggled in the past and are looking for a ‘no credit check’ loan, which aren’t offered by reputable lenders, there are still options available to you.
At Savvy, we’re partnered with trusted financiers willing to look past your score and enable you to access the funds you need fast with rapid online application processes. Apply ASAP and get instant approval on your loan today.
Responsible lenders will always assess the credit histories of all applicants via a standard credit check. However, while credit checks are a necessary part of the loan process, being approved for an instant cash loan ASAP won’t hinge on a bad credit score. Direct lenders run credit checks because they provide an indication of your payment track record, borrowing history and number of ‘hard’ enquiries. However, they’ll be more interested in assessing your current financial situation than your credit score itself. They’ll want to ensure you’re earning enough to comfortably manage your repayments, which is often the most important thing.
It’s a good idea to steer clear of lenders who spruik ‘no credit check’ loans, as these deals often come with inflexible loan terms and high costs. Credit checks are required as part of the government’s responsible lending regulations.
You’ll receive an instant outcome on your cash loan application when you apply online with Savvy and, in most cases, you can have formal loan approval in as little as one hour.
Before you start an online application, it’s important you double-check you meet the eligibility criteria. To apply for a fast and easy loan online, you must:
It should take about ten minutes to fill out our online application form. This is where you tell us a bit about yourself. You’ll need to provide:
You’ll also need to provide 100 points of identification to back up your personal details. This can include:
Your lender will need access to your online bank statements to verify your income. This information is secured with high-level encryption and your lender will only get a ‘read only’ version of your accounts. Once you’ve completed this, you’ll receive an instant outcome, which comes in handy if you need an urgent cash loan.
If everything’s looking good, you can be offered formal loan approval within the hour. Once you return your signed contract, your lender can transfer your funds. In most cases, you’ll receive your cash in hand on the same day, although this depends on circumstances such as the speed of your bank’s transfer processing. While assessing your application, your lender may also get in contact if they require any further information or documentation.
You can be approved for loans ranging from $2,050 to $5,000, depending on your financial and personal circumstances as well as the direct cash lenders you apply to. You can repay it over any period from 16 days to two years. You can choose to pay this off weekly, fortnightly or monthly, whichever best falls into line with your pay cycle.
These loans come with several fees which are laid out by your lender and in your loan contract. They make these easy to understand so these costs can be seamlessly worked into your budget when you’re estimating what you can afford. Small loans come with a capped $400 establishment fee, while they also charge a monthly fee capped at 48% of your loan's cost over 12 months.
Additionally, the cost of your loan directly correlates to the period over which you choose to pay it off. While opting for a longer term can help reduce the size of your repayments, a shorter term can save you money on fees because they have less time to compound. For instance, a $2,500 loan would come with $100 monthly fees, meaning opting for a six-month term instead of nine would save you $300.
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.