Need $50 Now

If you’re in need of a quick $50 now, learn about your options with Savvy today.

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 December 12th, 2023       

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 December 12th, 2023       

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.

Facing unexpected expenses can be challenging, especially when you need immediate access to funds. Looking for a rapid $50 loan now offer a convenient way to cover those urgent costs that can pop up. While Savvy doesn't offer $50 loans directly, we can provide you with the guidance and support you need to explore your financing options. Find out more about your quick cash options with Savvy today!

How can I get a loan when I need $50 now?

While there aren't any $50 loans accessible through Savvy for those who need cash now, there are a number of other options in Australia that can provide you with access to quick cash. Among these choices are:

  • Credit card cash advance: taking out cash with your credit card can be a handy way to get access to funds right away. However, it’s vital to acknowledge the potentially steep interest rates and related costs that come with these advances. As a result, paying out your outstanding balance as soon as possible is necessary to prevent accruing excessive fees.
  • Bank overdraft facility: you can access money above your current balance with some bank accounts by using a personal overdraft. Although this could be useful in short-term financial circumstances, it's crucial to keep in mind that overdrafts can also come with substantial fees and interest.
  • Centrelink advance payment: you might qualify for an advance payment if you’re on Centrelink. This option can be used for a number of payments, such as Disability Support Payment, JobSeeker, Youth Allowance, and Age Pension. The advance is applied to your regular payment and then subtracted from the amount provided in subsequent instalments.
  • No Interest Loans (NILs): a NIL may also be available to certain people. With these loans, you can borrow up to $2,000 for necessary costs like education bills and household goods, or up to $3,000 for rent and bonds. It's crucial to confirm that you meet the requirements before applying for a NIL.

It's important to consider your financial situation and select the choice that best suits your unique needs and circumstances when weighing these options. Before moving ahead with your loan, it's important to think about each option carefully and thoroughly.

How do I apply for a small loan through Savvy?

Applying for a small loan through Savvy is a thoroughly streamlined process to help you access the funds you need when you need them if you're approved. Follow these simple steps to get started:

  1. Fill out our online application form, providing us with personal and financial information, including credit score, income, and employment details. Choose your preferred loan amount, ranging from $2,050 to $5,000.
  2. Submit your application and receive an instant automated decision from one of our vast network of lenders.
  3. Upon conditional approval, your application will be carefully assessed by your matched lender. Additional documentation may be requested for further verification.
  4. Once your lender is satisfied, you'll receive formal approval and your loan documents for review and signing. These documents will clearly outline your loan terms, fees, repayment schedule, and other relevant details.
  5. Upon signing and returning the loan documents, your loan funds will be swiftly transferred into your nominated bank account.

What is the typical turnaround time for receiving small loan funds?

As previously stated, you can apply for your small loan and receive formal approval, with the possibility of having your funds released as soon as the same business day (potentially within an hour in some cases). However, it's important to remember that approval is always dependent on your application meeting all of your lender's required assessments and criteria.

Several factors can affect how quickly your application is processed:

  • The complexity of your application, including whether you have any defaults or if your income is steady.
  • Your lender's internal processing times.
  • The time of day or week you apply, as applications submitted outside of regular business hours may require waiting until regular hours for formal assessment to begin.

Why apply for a small loan with Savvy?

Frequently asked questions about small loans

Can I qualify for a small cash loan if I have a bad credit history?

Yes – obtaining a small loan remains a viable option even for individuals with a less-than-perfect credit history, provided you adhere to your lender's established criteria. While traditional lenders often prioritise credit scores, those offering small cash loans typically adopt a more accommodating stance.

Can I pay off my small cash loan early?

Yes – accelerating your small loan repayment is an option without incurring any early repayment penalties. Settling your loan early can be a wise move, as it cuts down the overall loan cost by reducing the accumulated monthly fees.

Can I apply the funds from my small loan for more than one use?

Yes – while you specify a particular reason for your small loan application, you have the autonomy to direct the funds towards diverse financial needs. You may choose to apply them towards covering multiple household expenses, for example. However, it's crucial to recognise that there are limitations on how these funds can be used, such as paying off other small loans or engaging in gambling activities.

How much will my small loan cost?

The primary expenses related to a small loan consist of an initial establishment fee (capped at $400) and recurring monthly fees (limited to 48% of the loan's total value per year). However, the overall cost you bear will be dependent on several additional factors, such as the loan amount, repayment duration, whether you make early repayments, and whether you incur any late payment or dishonour charges.

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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.