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Loans like Wallet Wizard

Apply for a swift and easy loan through Savvy, serving as an effective alternative to loans like Wallet Wizard.

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 January 25th, 2024       

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 January 25th, 2024       

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.

The popularity of loans similar to Wallet Wizard, which offer a quick and easy way for Australians to secure necessary funds, continues to grow. While Wallet Wizard and similar loans have their place, it's essential to explore other options, and Savvy is here to assist. Delve into the details of Wallet Wizard and similar loans, comparing them to the ease of applying for a fast loan through us today!

How do loans like Wallet Wizard work?

Wallet Wizard is a lender which offers lines of credit designed to offer fast and flexible funding. The way this works is that you’ll have a credit limit set on your account and will have ongoing access to funds up to this limit, provided you meet the criteria set in place. In the case of Wallet Wizard, this limit maxes out at $8,000, but the actual limit set for you will depend on which lender you use and factors specific to your profile such as your income, employment stability and repayment history.

Once you apply for your loan, you can be approved promptly and gain access to the funds in your account. The amount you borrow can be repaid over a flexible schedule designed to cater your specific needs as a borrower.

What fees will I have to pay with loans like Wallet Wizard?

When it comes to line of credit loans like Wallet Wizard, the main cost to worry about is interest. As of 22 January, 2024, this rate sits at 47.8% p.a. However, while this isn’t always the case, this lender doesn’t charge any annual or service fees, with the only one in place being a $10 late payment fee.

Before you select your loan, it’s important to understand how much it’ll cost you both each month and overall. For instance, taking out a $2,000 line with Wallet Wizard and repaying it in three monthly instalments would result in the total interest paid being $160, but increasing this to $6,000 over 12 months would see your interest increase to $1,668.

What alternatives to loans like Wallet Wizard are available?

If you're seeking an uncomplicated and efficient alternative to loans like Wallet Wizard, think about exploring small loans through Savvy. We work with trusted lenders across the country to provide quick cash loans ranging from $2,050 to $5,000 to people from all walks of life. The online application process is straightforward, and upon submission, you can expect an instant outcome in just 60 seconds.

If conditionally approved, your formal approval may not be far behind, and funds may be disbursed within as little as one hour, depending on your lender and bank's processing times. Take the first step with us today and access the funds you need without unnecessary complexity!

Why apply for a small loan with Savvy?

Common questions about small loans

Is there an option for obtaining a small loan with unfavourable credit?

Yes – getting a small loan is still possible even if your credit history is not perfect, as long as you satisfy the eligibility criteria set by the lender. Unlike traditional lenders who place significant emphasis on credit scores, providers of small cash loans tend to have a more flexible approach.

Can I settle my small loan earlier than the agreed-upon term?

Yes – repaying your small loan early is a valid option, and there are no penalties for settling it ahead of schedule. Early repayment can be very beneficial in that it reduces monthly fees and, consequently, lowers the overall cost of the loan.

What are the allowable purposes for my small loan funds?

After obtaining your small loan funds, you have the freedom to allocate them to various purposes. Whether it's covering household expenses or managing unforeseen financial challenges, the decision is yours. Nevertheless, it's vital to be mindful of certain usage restrictions, like refraining from repaying other small loans or engaging in gambling activities.

Can I access my small loan funds on weekends?

Your application can only be officially evaluated, approved, and funded within your lender's regular business hours. If your lender is open on Saturdays or Sundays, it might be possible to receive your loan funds over the weekend. Bear in mind that the actual availability of funds is subject to bank processing times. Therefore, even if your lender approves your application during the weekend, the funds may not be accessible immediately.

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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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