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If you’re chasing a quick loan, the process should be easy and hassle-free. While reputable lenders won’t guarantee that they approve everyone, getting your hands on a payday loan with Savvy is simpler than other types of finance.
By applying online with us, you can be approved and receive your money as soon as the same day you apply. Let Savvy help you get fast approval and apply with us today.
Reputable lenders don’t approve everyone who applies for a small loan, with all applications undergoing a few quick checks. If you’re looking for loans where everyone is approved because you have bad credit, though, this won’t be a barrier to getting approval.
While you won't be able to get a loan ASAP with no credit check, Savvy partners with flexible short-term lenders in Australia who focus more on what you can currently afford to repay, rather than your score itself, when assessing your application. They’ll still run a credit check as part of their responsible lending obligations, but this focuses on your wider loan history.
Lenders will be looking at your payment track record on similar loans and whether you have any outstanding defaults. If you’ve taken out online payday loans in the past and kept on top of your payments, this can help you gain approval on a bad credit loan.
Aside from your borrowing history, approval for a loan will come down to factors such as your income, spending and employment status. Lenders will review your bank statements to verify your income, which can come from multiple sources. Most lenders will allow your assessable income to be made up of a mix of wages, fixed Centrelink payments, investments and superannuation.
Everyone who applies for an instant cash payday loan will need to satisfy a few eligibility requirements, which are standard among payday lenders. Once you double-check you meet the conditions, you can start your loan application. These requirements include:
There are a few fixed ongoing costs associated with taking out an online loan, as lenders don’t charge interest. These costs apply to everyone who is approved and vary depending on the size of your loan and how long you take to repay it. These costs include:
Payday loans come with the option to take between 16 days and 24 months to repay. Opting to repay your loan over a shorter term can potentially save you hundreds of dollars each year on fees. For example, if you chose to repay your $3,000 loan over nine months rather than 12, you’d save $360 overall.
It’s important to note that while choosing a shorter term will save you money on fees, the value of your repayments will be higher. In the above example, the nine-month term would cost you $497.78 per month compared to $403.33 over 12 months.
No matter the time of day or week, you can complete your small loan application with us online.
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
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.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
