Loans with No Credit Checks Australia
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- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
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Worried about bad credit standing between you and loan approval? If you’re searching for no credit check loans because you think bad credit may hold you back, you don’t need to worry. Savvy is partnered with credible Australian lenders to help you get another shot at loan approval.
Our flexible partners focus on your present, rather than your past, when considering you for approval. Enjoy a fast application process and a quick outcome and apply right here to get a second chance at a loan today.
Can I get a loan with no credit check in Australia?
The short answer is no – responsible lenders don’t offer ‘no credit check’ cash loans or guaranteed approvals on loans, no matter what. Licensed lenders in Australia have responsible lending obligations, so they’ll always make sure a loan is manageable and won't just approve you for a loan with no questions asked.
If you're searching for guaranteed approval or ‘no credit check’ loans because you have bad credit, though, the good news is that a poor credit score won't be a major issue standing in the way of approval with this type of loan. Direct money lenders prefer to review your wider borrowing history, rather than focus solely on your score, when you apply for a payday loan. They’ll do this when considering your application for formal approval after you receive an instant outcome.
To be considered for instant approval, you’ll also need to satisfy several eligibility criteria. These are generally the same from lender to lender and include:
- Over 18 years old
- Earning a steady wage
- A permanent Australian resident or citizen
- Working mobile number and email address
- Easy access to 90 days’ worth of online bank statements
- No active payday loans or similar debts
How much can I borrow with a small loan?
If you need some emergency cash, you can borrow between $2,050 and $5,000 depending on how much you can afford to repay.
The core reason credible lenders don’t offer ‘no credit check’ loans is that they want to know you can easily manage your repayments. As such, they’ll review your borrowing power to make sure you can comfortably afford the loan you want. Your borrowing power is what your lender deems you able to afford. It’s made up of a variety of factors, including:
- What you earn and spend
- Any outstanding loans or other liabilities
- How much money you have saved
- Any dependents you have
- Your wider borrowing history
Along with a credit check, your lender will request read-only access to your online bank statements to verify your income and expenses. If this runs smoothly, you should be able to receive formal loan approval soon after.
How long can I take to repay my small loan?
You can take up to two years to repay your fast payday loan, with terms as short as 16 days available. The value of your regular repayments will vary depending on the term you choose. For example, if you choose to repay your $3,000 loan over 15 months instead of 12, your repayments would drop by $57 each month.
On the flip side, while choosing a shorter term will increase your small loan repayments, it’ll save you money on monthly fees. Loans come with monthly charges calculated at no more than 48% of your loan amount over 12 months. The table below shows how much you can save on your repayments by taking out a $3,000 loan over a shorter term (with monthly repayments).
| Term length | Establishment fee | Monthly fee | Repayments | Total cost | Total overall saving |
|---|---|---|---|---|---|
|
18 months |
$400 |
18 x $120 |
$308.89 |
$5,560 |
N/A |
|
15 months |
$400 |
15 x $120 |
$346.67 |
$5,200 |
$360 |
|
12 months |
$400 |
12 x $120 |
$403.33 |
$4,840 |
$720 |
Why apply for a small loan with Savvy?
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No matter the time of day or week, you can complete your small loan application with us online.
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You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
Trusted lender panel
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
Frequently asked small loan questions
Small loans to suit your circumstances
Helpful small loan guides
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.
