Need Money Now Australia

Need money now? Get a quick cash loan with Savvy today.

Apply in less than 10 minutes.

Last updated on August 1st, 2022 at 12:50 pm by Kurtis Eichler

Apply with Savvy if you need money now

Life isn’t always smooth sailing, so when you hit choppy waters with your finances and unexpected bills pop up, Savvy can lend a hand. We help make getting out of a tricky situation simpler by connecting you to an Australian lender who can get you the money you need now.

Whether you have to do some urgent repairs around the house or get your car back on the road, you can use a cash loan for just about anything. Our online processes are fast-tracked, so you’ll get a quick turnaround on your application. Apply with Savvy to get the process started now.

How do I get the money I need now in Australia?

Applying for a loan with Savvy is one of the best ways to get a quick cash loan if you need money now. Our online application is straightforward, offering instant outcomes and, in most cases, you can get the money you need on the same day you’re approved.

Once you’re offered formal approval on a quick cash advance, your lender will send your loan contract across for you to sign. Once these have been signed and returned, your funds will be released to your nominated bank account.

Whether you receive these funds on the same day will depend on several factors, however. Applying earlier in the day or week will improve your chances of getting a same-day payout. Lenders in Australia don’t approve and fund applications outside of business hours, so getting your application in early will help prevent it from becoming a multi-day process.

Bank transfer speeds vary depending on who you bank with. Most banks take a few hours to process payments, which is faster during business hours and slower overnight and on weekends. Usually, if your funds are released before the end of business during the week, they should be accessible in your bank account that day.

What information do I need to provide to get money now?

If you need cash now, you’ll need to share some details and documents with your lender, which can be done securely online. It takes about ten minutes to complete an initial application with Savvy and receive an instant outcome on a loan. If this is an instant approval, your lender will proceed with the application and conduct checks of your finances and credit file before ultimately deciding whether to formally approve you.

After you choose your loan amount and why you need it, you’ll need to share some details with your lender to be considered for instant approval. These include:

Personal details
  • Full name
  • Date of birth
Contact details
  • Mobile number
  • Residential status and address
  • Monthly rent/mortgage/board costs
Employment details
  • Employment status
  • Industry you work in
  • Time with employer
  • Employer’s name
Income
  • Your income after tax
  • Pay frequency
  • Next pay date
  • Whether government benefits make up half, or more, of your income

You’ll need to confirm your identity by providing some digital copies of your ID, which can be securely uploaded to your lender’s portal. Your lender will usually request a copy of your Australian driver’s licence or passport and a proof-of-age or Medicare card.

While the eligibility criteria for a small loan are generally the same from lender to lender, it’s worth double-checking these with your lender to save you time. Generally, the requirements you need to meet will include:

Age

You must be at least 18 years old to apply for a quick cash advance.

Residency

You’ll need to be a permanent Australian resident or citizen. Temporary Australian residents are unlikely to be considered for a loan.

Income

You need to have been earning a stable income for at least three months.

Debts

If you’re already repaying a short-term cash loan, it’s unlikely you’ll be approved for another.

Contact

To get cash today, you need a working mobile phone number and email address.

Banking

You must have access to your bank accounts via internet banking so lenders can review 90 days’ worth of statements.

How long can I take to repay my loan?

You can take up to two years to pay back your loan, depending on how much money you borrow. The length of time you take to repay your loan correlates directly to the value of your repayments and how much you pay in fees.

When you take out a quick loan, you’ll get some flexible options on how long you need to repay it. These include:

Loan size Term option
$300 to $2,000

16 days to 12 months

$2,001 to $5,000

16 days to 24 months

Loans come with some fixed fees, namely an establishment fee and rolling monthly fees. Choosing a shorter term means you’ll pay less in monthly fees over the life of your loan. Monthly fees are calculated at 4% on loan amounts up to $2,000 and capped at 48% over 12 months on larger borrowing amounts. For example, if you took out a $5,000 loan over 18 months instead of 24, you would save $1,200 overall in monthly fees.

Answers to common questions about needing money now

Can I get a fast loan 24/7?

You can apply for a fast loan around-the-clock; however, lenders won’t be able to approve or fund you outside of standard business hours. If you apply with Savvy, we can help connect you to a lender who offers weekend payouts if you need a loan on a Saturday or Sunday.

Am I still able to apply if I need money now but have bad credit?

Yes – you can get a loan even if you have a very bad credit score. Lenders don’t tend to concentrate on your score when they check your credit history, preferring to review your broader borrowing track record and current ability to repay your loan. This allows them to look at factors such as your repayment history and how often you’ve applied for new credit.

Can I get an emergency cash loan to pay off another small loan?

No – you won’t be able to use an emergency cash loan to repay similar short-term finance. It’s important to focus on repaying the loan you have and once that’s wrapped up, you can apply for a new one.

If I’m unemployed, can I still get a quick loan when I need money now?

Yes – you can get a quick loan if you’re currently out of work, as long as you can afford the repayments. You’ll be able to factor other forms of income towards your loan, including ongoing Centrelink benefits such as aged and disability pension

I was just knocked back for a loan, can I still apply?

Yes – you can apply with us if you’ve been knocked back elsewhere. However, it’s a good idea to keep ‘hard’ enquiries to a minimum as too many loan requests in a short period can impact your credit score and make it harder to get approval down the track.