No Paperwork Loans

Want quick loan approvals with no paperwork? Apply with Savvy

Apply in less than 10 minutes.

Last updated on July 26th, 2022 at 09:14 am by Kurtis Eichler

Fast and easy loan approvals from $300 with no paperwork

Forget gathering hard copies of your bank statements, payslips and other documents. You can get fast and easy loan approval with no messy paperwork by simply applying with Savvy.

Our completely online process is straightforward and no-fuss, allowing you to apply day or night from a smartphone or computer. The sooner you apply, the faster you can be approved, so apply with Savvy now.

Can I get a loan with no paperwork?

Yes – there’s no need for physical paperwork when you’re applying for a loan with Savvy. Our fully online application process saves you the hassle of gathering paper copies of your relevant documents. You can save them on whichever device you’re applying from so they can be uploaded to the secure portal with ease.

It’s important to note, though, that you will be required to supply documentation as part of your application. However, getting approved for a short-term loan requires less paperwork than other types of finance, such as car loans or mortgages. Lenders will request a handful of documents to verify your identity and income, including a copy of your online bank statements

What details will I need to provide for my no paperwork loan application?

During different stages of the fast loan approval process, you’ll be required to provide details to your lender. This allows them to get a complete picture of your current financial situation when considering your application for approval. Once you have chosen your desired short-term loan amount and why you need it, you’ll need to provide your lender with the following details:

  • Basic details: Provide your full name, date of birth and email address.
  • Contact: Supply your mobile phone number, address, residential status (rent, own or boarding) and rent/board/mortgage costs.
  • Employment: Tell your lender more about work by providing your job status, industry, tenure and employer name.
  • Income: Declare your income after tax, how often you receive it and whether government benefits make up more than half of your income.

You’ll then be asked to supply 100 points of identification to verify your identity. This can be made up of any of the following:

Photo ID:

  • A driver’s licence
  • An Australian or foreign-issued passport
  • A government-issued proof of age card

Concession Cards:

  • A Medicare card
  • A Centrelink concession or health card

Official Documents:

  • A citizenship certificate
  • A birth certificate
  • A utility bill or recent bank statement

You’ll need to provide an encrypted copy of your internet bank statements to your lender, who can then gain safe, read-only access to view your accounts. This allows them to verify your income and expenses.

If you’re pre-approved, your direct money lender will go about conducting formal checks of the information provided in the initial application. Pending these checks, you could be approved within the same day you applied.

How much do small loans cost?

Unlike other forms of financing, same-day cash loans don’t accumulate interest over time, instead coming with capped fees. These charges depend on how much you borrow and how long you choose to take to repay your loan. Lenders roll these charges into the cost of your repayments and factor them in when determining how much you can be approved to borrow.

The first of these is the establishment fee, which is charged at 20% of your amount on all loans up to $2,000. For loans above $2,000, this comes in the form of a capped $400 fee. Monthly fees are also charged, coming in at 4% of your loan amount on finance up to $2,000. Loans above $2,000 have their fees capped at 48% annually.

Repaying your loan over a shorter term can help you save hundreds of dollars on fees. Follow our easy-to-use table to see just how much you can save at different repayment timeframes.

Loan Amount Term Length Establishment Fee Monthly Fee Monthly Repayment Total Cost
$2,400
Nine Months
$400
$96
$407.11
$3,664
$2,400
12 Months
$400
$96
$329.33
$3,952
$2,400
15 Months
$400
$96
$251.55
$4,240

Frequently asked small, no paperwork loan questions

Who is eligible for a payday loan?

To apply for a payday cash loan, you must satisfy a handful of eligibility criteria. These include:

  • Being 18 years of age or older
  • An Australian permanent resident or citizen
  • Earning a stable and consistent income
  • A working mobile number and email address
  • Access to your bank accounts online

Some lenders may be able to help you if you’re a temporary visa holder looking for a loan. If you’re working inconsistent hours, such as if you’re casual or self-employed, you may have to meet further criteria if you’re looking for a loan.

Can I get a loan if I have bad credit?

Yes – bad credit doesn’t really matter when you’re applying for a direct cash loan. Your lender will run a credit check to go over your wider borrowing history, not just your score, as part of your application. This will include checking for any other loans, defaults or payment history on past payday loans. Responsible lenders are bound by strict regulations and won’t offer ‘no credit check’ loans. Therefore, if you do have bad credit, there’s no need to look for ‘no credit check’ lenders.

Can I get a small loan if I’m unemployed?

Yes – you can get a payday loan if you’re unemployed so long as you’re earning some form of ongoing income. Several eligible benefits can count towards your loan, including aged and disability pensions, single parent payments and the child care subsidy. Temporary measures such as JobSeeker and Youth Allowance won’t count on their own because they are subject to change at any time.

I have unpaid defaults on my file. Can I still be approved?

It’s unlikely lenders will approve you if you’ve got unresolved defaults for other payday loans. However, there may be lenders willing to work with you to look at the timing of the defaults, what they’re for and your wider borrowing history.

Can I repay my small loan early?

Yes – repaying your loan early can save you hundreds of dollars on fees. Small loan lenders don’t charge early repayment fees when you repay your loan faster than expected, so you’ll be spared the additional cost too.

Can I use my small loan for medical procedures?

Yes – you can use your loan for medical procedures, including cosmetic or urgent operations, as well as veterinary fees. However, these loans can essentially be used in any way you wish. You can also use your loan for rental bonds, home and vehicle repairs and general living costs. You won’t be able to use your funds for gambling or to pay off other active payday loans.