One Hour Loans

Up against the clock and need money fast? Apply for a rapid one hour loan 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 September 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 September 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.

Life happens fast, and it’s not predictable. Every day, we juggle different responsibilities and expenses. Things go well, things go wrong, but we need to be able to keep on moving. Here and there, it’s normal to find yourself a bit short on funds. It’s easy to be a slave to your cash flow, but sometimes you just can’t afford to miss out. Often, when something needs fixing, it needs fixing right now. Other times, an excellent opportunity or bargain isn’t going to hang around. That’s why, when you need access to cash in a hurry, one hour loans are your friend.

How can I get a one hour loan?

Getting a one hour loan is quick and convenient. The whole application process is carried out online. That means you can apply for a loan from anywhere – at any time of the day or night. When something comes up, and you want to take advantage of a bargain – or, if you wake up in the night to a leaking roof – just get on your smartphone, laptop, or tablet and funds can be available fast.

What can I use an instant loan to pay for?

You can use an unsecured instant loan to pay for any unexpected or planned expense. Providers don’t place limits on usage, and you’re free to buy whatever you need. Many Australians use cash loans to cover emergency repairs to their car or home. Others use cash loans to spread the cost of many different types of purchases. The need for a one hour loan doesn’t always arise in a crisis, however. Sometimes, that holiday bargain, dream household item, or the latest outfit just won’t be around forever. In today’s always-on, rapidly moving world, being able to access funds as soon as you need them is essential. When your pay cycle isn’t playing ball, you can turn to a cash loan to pay for:

Will I pay higher interest rates for a quicker loan?

The great news about one hour loans is they’re very cost-effective. You can use them wisely to spread the cost of expenses without breaking the bank. Specialist lenders provide one hour loans with affordability in mind. Fees on one hour loans get capped. For some consumers, longer-term loans offered by banks don’t fit the bill – whereas, repayment periods on one hour loans can be tailored to suit their needs:

  • Banks don’t offer borrowers products under $5,000, and repayment options range from one to seven years
  • One hour loan providers offer the option to borrow between $2,050 and $5,000. You can pay back as quickly as sixteen days, or spread repayments over two full years

Perhaps the most significant advantage of one hour loans isn’t even the quick availability. What sets them apart from traditional personal loans is flexibility. You get to set repayments to suit your circumstances. You can choose to pay your loan back as quickly as you can afford. Nothing is rigid, and that results in products that don’t tie you down to expensive, drawn-out repayment periods.

Personal loans versus one hour loans

  • One hour loans are ideal for borrowers who want to spread the cost of a purchase over a couple of monthly paychecks
  • With a one hour loan, you commit for just as long as you need to. With a personal bank loan, you get tied in for a year or two minimum (unless you make early repayments)
  • Bank loans can be more challenging to arrange, while one hour loan lenders are based online and offer fast, streamlined applications with rapid access to cash
  • One hour loan providers assess your application primarily on the basis of your ability to pay back the loan. They do check your credit report, but it’s mainly to make sure you’re not over-extending with current borrowing. Banks base lending decisions primarily on your credit history. That means, any problems on your report, no matter how minor, make it less likely you’ll be able to borrow

What will my lender check?

One hour loan providers work to responsible lending guidelines. They assess borrowers based on their ability to pay back a loan without incurring hardship. Specialist lenders don’t base decisions on your credit history. They’re far more interested in your situation right now and during the last few months.

Lenders will look at your monthly income and at what you pay out each month too. They’ll try to develop a picture of how much disposable income you have. Disposable income is just the sum of what’s left from your pay or benefits after you’ve deducted all your regular expenses. You’ll also need to meet some fundamental eligibility requirements. The next section of this article deals with making sure you qualify.

How can I make sure I qualify for a one hour loan?

Getting approved for a one hour loan is very straightforward and fast. Meeting basic eligibility requirements means being:

  • An Australian resident or citizen
  • 18 years old or over
  • Able to demonstrate some form of regular income for the last three months – which can be from full-time, part-time, or self-employment. You can also apply if you receive benefits
  • Free from more than two other commitments to cash loans in the past ninety days

When you apply for a one hour loan, it’s essential to supply all the documents and information your lender needs. So long as you meet the basic criteria above, and include everything you get asked for, the process should be swift. Most one hour loan applicants receive their funds as soon as the lender approves them. Making sure you include everything just speeds up the process. Before you submit your application, use the following document checklist:

  • Proof of ID – such as your driving licence, passport, or government-issued ID card
  • Proof of address – like a utility or mobile phone bill
  • Previous three months of bank statements
  • Payslips, if you’re employed
  • Centrelink Income Statement, if some or all of your income is from benefits
  • Your Medicare card

Why apply for a small loan with Savvy?

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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.