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One-Off Emergency Payment

Apply for a one-off emergency payment from $2,050 through Savvy today and receive an instant outcome.

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 November 29th, 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 November 29th, 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 an unexpected crisis can be challenging, but the relief provided by a one-off emergency payment through Savvy can make a significant difference. Partnered with reputable lenders, our platform connects borrowers, helping you not only gain access to an instant outcome on your application but also the potential for formal approval and funding as soon as the same day you apply. Take the first steps towards financial ease and managing your debts with us today!

What is a one-off emergency payment and how does it work?

You can receive a one-off emergency payment by taking out a small cash loan. These are popular among borrowers for those times when you need extra cash urgently, such as unexpected expenses or when you're waiting for your next paycheque. In terms of how they work, you borrow a small amount and pay it back in instalments over a specific period, which can be from 16 days to two years. You get to choose how often you make payments: weekly, fortnightly, or monthly.

The actual cost of the fees depends on how much you borrow and how long it takes you to pay it back. There are two main fees to consider: the monthly fee, which is capped at 48% of your loan amount per year, and the establishment fee, capped at $400. Knowing these fees helps you make informed decisions about your repayments.

How much can I borrow with a one-off emergency payment loan?

To access emergency cash immediately with a loan through Savvy, you have the flexibility to borrow between $2,050 and $5,000, which is dependent on meeting the eligibility criteria set by your lender. This adaptable range allows you to choose an amount tailored to your specific requirements. However, it’s important to note that each applicant's borrowing capacity is shaped by factors like credit score (whether you have fair credit or have struggled in the past), income, existing liabilities, savings, and other pertinent financial considerations. Consequently, your borrowing power may differ from another applicant with different financial circumstances.

Ultimately, what you can be approved for is determined by what you can afford to repay. Your income will need to be sourced from stable employment with consistent pay and hours, whether that’s one or more positions, and/or eligible Centrelink payments. For instance, if you're seeking a loan with fortnightly repayments of $500 but only earn $400 per fortnight, approval may not be feasible.

How do I apply for a one-off emergency payment with Savvy loan?

When applying for a one-off emergency payment loan through Savvy, the process is straightforward and user-friendly. Our form allows you to provide necessary information about yourself, your income, employment, and more. After submitting your application in a matter of minutes, you'll receive an instant outcome within 60 seconds. If approved, the lender you’re matched with will conduct a formal assessment of the application, potentially requiring additional documentation.

Upon the completion of the necessary checks and after formal approval, your lender will send you loan documents outlining all terms and conditions, including the repayment schedule, term, fees, and more. After reviewing and signing the documents, return them to your lender, and the funds can be advanced to your nominated account. Subsequently, you'll begin repaying your loan in line with the schedule you’ve chosen on your loan.

Why apply for a small loan with Savvy?

Frequently asked questions about one-off emergency payments

What is the speed of approval for a one-off emergency payment?

Small loan applications are built with swift approval in mind. If your application for a one-off emergency payment aligns with the lender's criteria and you provide the necessary documentation promptly, formal approval and funding could occur as soon as the same day. Variables such as application complexity, the lender's processing speed, and the time of day you submit it may influence the overall speed of approval, however.

Can I receive a one-off emergency payment with bad credit?

Yes – receiving an emergency loan with bad credit is still possible with many lenders. Unlike traditional lenders whose criteria may hinge on your credit history, providers of one-off emergency payments tend to be more flexible. They are often willing to look beyond credit issues, prioritising your current financial status during the application evaluation.

Is early repayment possible for a one-off emergency payment?

Yes – opting for early repayment on your emergency loan will help you save. These payments don’t come with penalties for settling your loan ahead of schedule, so clearing your debt sooner means you'll incur fewer monthly fees.

How can I use a one-off emergency payment?

A one-off emergency loan provides versatile assistance for unforeseen circumstances. Whether it's addressing urgent bills, covering essential expenses, or covering the cost of your new phone, this payment offers the flexibility to adapt to your specific needs.

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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.

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