Online Instant Cash Loans

Apply online and get an instant outcome on your cash loan.

Apply in less than 10 minutes.

Last updated on July 26th, 2022 at 10:38 am by Kurtis Eichler

Get an instant cash loan outcome online with Savvy

Browsing for an instant cash loan online? You can apply, be approved and get your money without fiddly paperwork or complicated forms when you submit your application through Savvy and one of our reputable lending partners.

Our 24/7 online application process means you can apply from the comfort of your own home and the convenience of your smart device or laptop whenever you like. Stop searching and apply with Savvy today to get the wheels in motion on your cash loan application.

How do I get an online instant cash loan?

Getting a fast cash loan is as easy as completing an online application with Savvy. Our web-based process allows you to get an instant decision on your application and, in most cases, a same-day payout if you gain approval on your quick loan.

Before you dive into the application process, double-check you meet the standard eligibility criteria. These requirements can vary slightly between lenders, so it pays to check before you apply. The criteria will usually include:

  1. Age: At least 18 years old.
  2. Income: Earning a steady income. This can come in a combination of forms, including fixed Centrelink benefits (such as pensions or parent payments). You can still apply if you have inconsistent income, but you may need to satisfy more criteria.
  3. Residency: A permanent resident or citizen of Australia. Lenders are unlikely to consider your application if you’re a temporary resident, such as student visa holders.
  4. Active loans: No active payday loans. You won’t be approved if you’re still repaying similar loan debts, as lenders will deem you to be at high risk of defaulting.
  5. Contact details: A working Australian mobile number and email address. Your lender will email your contracts and important documents, so having easy access to vital.
  6. Online banking: Easy access to your bank accounts online. Hard-copy bank statements aren’t needed with a cash loan, as lenders review your income and spending using ‘read-only’ access to your past 90 days of banking statements.

Once you choose your loan amount (between $300 and $5,000) and select why you need it, you can proceed with your application and supply the information you need. Once you complete your initial application, you’ll receive an instant outcome in 60 seconds.

If you’re approved, your lender will go about confirming the details you’ve provided through a credit check and review of your internet banking statements. You can be granted official loan approval if these checks go smoothly and have your loan funds released as soon as you sign your contracts.

These funds should hit your account on the same day you’re approved, but this can hinge on your bank’s cut-off times and when you apply. Most banks have a payment cut-off time of about 6pm, so if you apply early, there’s a better chance your money will be paid that day. Lenders can also only process applications during business hours, so a late-night application is unlikely to be seen until the next morning.

What details and documents do I need to provide to get an instant cash loan?

When you apply for a quick loan in Australia, you’ll be asked to provide a handful of details and documents so you can be considered for approval. The beauty of online cash loans is that you can simply upload digital documents with no need to deal with messy physical paperwork.

You’ll need to share some personal details as part of your initial application, covering some basic information such as:

  1. Personal information: Full name, date of birth and email
  2. Contact: Mobile number, residential status and address
  3. Employment: Job status, industry, length of time with employer and who you work for
  4. Earnings: Income after tax, pay frequency, next pay date and any government benefits you earn
  5. Expenses: rent/mortgage/board costs

Lenders will then request some personal ID to verify your identity. Most of the time, you’ll be asked to supply a mixture of these:

  1. Australian driver’s licence or passport
  2. Medicare card

If you don’t have one or a mix of these, the following may also be accepted as valid forms of identification:

  1. Council rates notice or utility bill
  2. Foreign driver’s licence or passport
  3. Birth or citizenship certificate
  4. A tax office notice of assessment

Other documents you’ll need to submit include a Centrelink income statement if you earn government benefits, access to 90 days of online bank statements and your signed loan contract once you’re formally approved.

How can I save money on my cash loan?

Making extra repayments and choosing a shorter term are some of the key ways you can save money on your loan or quick cash advance. These fast loans come with a series of fixed fees which will vary in cost depending on how much you borrow and how long you take to repay it.

These loans come with two main fixed fees:

  • Establishment fee: Calculated at 20% of your amount on loans up to $2,000. Larger loans come with a flat fee of $400.
  • Monthly fees: Calculated at 4% per month on loans up to $2,000 and capped at 48% over 12 months on loans up to $5,000.

Loans come with minimum repayment terms of 16 days up to two years depending on how much you borrow. Loans up to $2,000 come with a maximum term of 12 months and larger loans allow you to repay over 24 months.

Your repayment values will rise if you choose a shorter term, but you’ll save money on your monthly fees. For example, if you take out a $2,000 loan over 12 months instead of 15, your repayments would rise by $40 per month but you’d save $240 overall on monthly fees.

Paying extra money on your loan can also speed up your repayment. Payday lenders don’t charge early repayment fees so you’ll be spared the extra cost if you repay early. Making additional contributions can help shorten your term and reduce the number of times you have to pay your monthly fee.

Frequently asked cash loan questions

What are my repayment options on my online cash loan?

You’ll get to choose between weekly, fortnightly or monthly repayment options for your loan in Australia. You’ll be able to set up a direct debit from your nominated bank account that will deduct your repayments as per your choice.

What can I spend my loan funds on?

Cash loans are incredibly convenient because they can be used for a raft of costs, including medical expenses, vehicle repairs, home maintenance and overdue utility bills. You can even get loans for Christmas or Easter expenses.

Can I apply if all of my income is derived from Centrelink?

Yes – so long as the Centrelink payments you receive are stable, fixed and ongoing. Benefits such as the aged or disability pension, carer and single parent payments can be used towards your loan. This means you can apply for a loan if you’re a single parent on Centrelink.

Can I apply over the weekend?

Yes – you can apply for a loan 24/7 with most lenders. However, you won’t be able to get approved and funded outside of business hours. Some lenders can pay out applications over a weekend, though, as they’re open on Saturdays and Sundays.

If I have unpaid defaults, can I still get a loan?

It’s likely to be difficult to get a loan if you have unpaid defaults on your credit file, as most lenders probably won’t approve you. However, there may be some on the market willing to work with you.