Loans Similar to Cigno Loans

Secure fast and convenient small loan funds by applying through Savvy, presenting an efficient alternative to loans similar to Cigno Loans.

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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       

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$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.

Loans similar to those on offer through Cigno Loans have become a notable choice for Australians seeking quick funds. However, it's essential to recognise the importance of exploring other alternatives, which is why Savvy is here to help you out. We can assist you in understanding loans similar to the ones you may get through Cigno, allowing you to compare them with the simplicity of applying for a fast loan through us today!

How do loans similar to Cigno Loans work?

Cigno Loans is an online loan broker which specialises in providing small loans through its network to offer rapid and straightforward access to funds. These loans range from as little as $500 up to as much as $10,000, meaning you as a borrower will have access to SACC loans (up to $2,000), MACC loans ($2,001 to $5,000) and standard personal loans ($5,001 to $10,000). However, the actual borrowing limit set for you is dependent on factors like income, financial history, and outstanding debts, as well as which lender you choose to go with.

The application process is streamlined for efficiency, potentially resulting in same-day approval, and funds may be accessible within the hour. Borrowers benefit from flexibility in choosing repayment terms, which may range from as little as 16 days for SACC loans up to as much as one year (SACC) or two years (MACC).

What fees will I have to pay with loans similar to Cigno Loans?

In the case of loans similar to those offered through Cigno Loans, the fee structure and interest rates are contingent on the chosen loan amount. Loans up to $2,000 come with an initial establishment fee, which may go up to 20% of the loan amount, and ongoing monthly fees, potentially reaching 4% of the loan. Loans falling within the range of $2,001 to $5,000, have a capped establishment fee of $400 and an annual interest rate that might reach up to 48% p.a. However, personal loans of $5,000 or more come without restrictions on fees and interest, so the amount you’re charged will depend on the lender you connect with and your borrowing profile.

Understanding the implications of these fees is vital for assessing the overall cost of your loan. For instance, borrowing $500 and repaying it over four fortnights could result in total fees of $140, while opting for a $2,000 loan extended over 13 fortnights would incur increased fees, totalling $880. On the other hand, a $3,000 loan paid fortnightly over 12 months may result in costs adding up to $1,432.

What alternatives to loans similar to Cigno Loans are available?

If you're seeking an uncomplicated and accessible alternative to loans similar to Cigno Loans, consider exploring small loans through Savvy. Our platform can connect you with reputable lenders offering fast cash loans ranging from $2,050 to $5,000. The application process is straightforward, with the entire form able to be completed on your phone or computer.

Upon submission, you can expect an instant outcome in just 60 seconds. If that outcome is a conditional approval, formal approval may not be far behind if you tick all your lender’s boxes, 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 get the cash you need fast!

Why apply for a small loan with Savvy?

Common questions about small loans

Can I obtain a small loan with a less-than-ideal credit background?

Yes – it is entirely possible to obtain a small loan even if your credit history is less than ideal, as long as you fulfill the eligibility requirements outlined by the lender. Unlike conventional lenders that prioritise credit scores, those providing small cash loans generally take a more adaptable approach.

Is it acceptable to repay my small loan before the agreed-upon period?

Yes – settling your small loan before the scheduled time is entirely acceptable, and there are no penalties for early repayment. Opting for early repayment is a prudent financial decision, decreasing monthly fees and lowering the overall cost of the loan.

What are the approved uses for my small loan funds?

Once you acquire your small loan funds, you gain the flexibility to use them for different purposes. Whether it's addressing household expenses or handling unexpected financial requirements, the choice is yours. However, it's important to recognise specific usage limitations, such as avoiding the repayment of other small loans or participating in gambling activities.

Can I anticipate receiving my small loan funds over the weekend?

Your loan application can only undergo formal assessment, approval, and funding during your lender's standard business hours. If your lender operates on Saturdays or Sundays, there's a possibility that you could receive your loan funds over the weekend. However, keep in mind that the actual disbursement of funds is also contingent on bank processing times, so even if your lender approves your application on the weekend, the funds may not be available as soon as on a weekday.

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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.