Personal Loans on the Spot

Access instant small personal loans up to $5,000 with Savvy.

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.

Most of us would’ve experienced a situation where an unexpected expense pops up that you don’t quite have the money to pay for. Fortunately, you can access cash loans virtually on the spot and cover just about any cost up to $5,000 when you apply for financing through Savvy.

We’re partnered with reputable lenders who understand that life isn’t always straightforward and can work with a diverse range of financial backgrounds. Get started with your small personal loan by applying with Savvy and we’ll find a lender suited to your needs.

The features and benefits of an on the spot small personal loan

60-second outcomes and same-day funds

Small personal loan applications are highly automated and efficient, so you’ll receive an outcome in as little as 60 seconds and funds potentially within the hour.

Borrow from $2,050 to $5,000

With possible amounts spanning a wide range, small loans are versatile and able to be used for just about anything you like from as little as $2,050.

24/7 applications

Because the process is online, you can submit your application to your lender at any time and receive an immediate outcome, so that you know the funds will be there.

Diverse accepted income streams

Whether you’re working full-time, part-time, casually, earning income through Centrelink or a mixture, you’ll be able to be approved for financing with a small loan financier.

Repay over 16 days to two years

You’re also afforded a great deal of flexibility when it comes to how you repay your loan, with repayments taking as little time to repay as 16 days and as much as two years.

Capped fees

Fees form the sole cost of your loan and are capped so that you’ll know what they’ll add up to before you even sign onto the loan.

Why apply for a small loan with Savvy?

How to save time on the small personal loan application process

Frequently asked questions about personal loans on the spot

Will my lender conduct a credit check as part of my application?

Yes – just because they don’t mind bad credit scores doesn’t mean they won’t check your credit report. This is a simple, routine assessment to review your residential history and ascertain whether you’ve had any recent defaults on your file that might give cause to believe you’re more at risk of defaulting again. Provided that your living situation is relatively consistent, and your history is clear of similar defaults, you can be approved swiftly.

What will the fees be on my small personal loan?

The fees that you’ll face on your loan are as follows:

  • Establishment fee: up to $400
  • Ongoing fees: up to 48% of your loan amount annually
Which Centrelink benefits aren’t acceptable income on my loan?

When it comes to Centrelink benefits, your payment may not be accepted due to the fact that it’s less permanent and can change at any time. These include:

  • JobSeeker
  • Youth Allowance
  • Austudy and ABSTUDY

 

Other payments, such as age, disability and veterans’ pensions and carer and single parent payments, can be counted as income towards the loan, but may only be accepted as supplementary to your employment income.

Can I pay my small personal loan off early?

Yes – there are no fees associated with paying off your small loan early. This gives you the freedom to not stick to the schedule established at the beginning of your loan and potentially save hundreds of dollars overall. For instance, paying a $3,000, 12-month loan over nine months would save you $360 in monthly fees. You’ll be required to pay your establishment fee in full at the conclusion of your loan, however.

Do I need to provide security for my small personal loan?

No – all small loans are unsecured in nature, which means you won’t need to put any assets up as collateral against the loan. This is part of the reason why small personal loans are so fast to process in Australia: assessing the suitability of an asset as collateral takes valuable time, so sidestepping this requirement entirely is beneficial for you in several ways.

Can I apply with bad credit?

Yes – when it comes to small personal loans, lenders are more interested in your ability to repay the loan than your current credit score. This is what makes these loans an appealing prospect for borrowers who have struggled with credit in the past and are looking for a small to medium cash injection. As long as you show that you can comfortably afford your loan, you can be approved fast.

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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.