Personal Loans without Bank Statements

Avoid the hassle of messy paperwork and apply for a small cash loan today through Savvy.

Apply in less than 10 minutes.

Last updated on April 27th, 2022 at 11:11 am by Thomas Perrotta

Personal loans without bank statements

Perhaps the most difficult and time-consuming aspect of the loan process is gathering up the required documentation. You may not know where they all are, which can cause delays in the processing of your application. There are, however, easy loans with no bank statements which you can apply for.

Small loans are a highly flexible source of funding, which can be obtained right here through Savvy. Our simple application form will take you straight to your lender’s page, where you can have your loan approved and funds sent through entirely online. Start the process now and have the money from your instant loan without a bank statement in Australia by day’s end.

Pensioner Small Loan

The features and benefits of personal loans without bank statements in Australia

100% online process

You don’t need to supply physical copies of any documents involved in the financing process, with the application conducted via online portals from start to finish.

Borrow up to $5,000

You’ll be able to choose the amount you need to borrow, with loans available as small as $300 and larger finance deals up to $5,000 on offer to be utilised in any way you need.

Set your repayment term

You can shape your loan repayments to suit your individual needs, with short terms available from 16 days or slightly longer-term loans up to two years in length open to borrowers.

No asset security needed

This type of personal finance is wholly unsecured, meaning your lender won’t ask for any assets like your car or other valuable property to act as collateral for the loan.

Instant outcomes

You can find out whether your loan application was successful as soon as 60 seconds after submission, enabling you to proceed with your application without any further delays.

Fixed payments each month

Because small loans come with fixed fees, your repayments will remain consistent across your loan agreement, enabling you to budget more effectively around them.

Why so many Australians find their small loan with Savvy

Top tips for speeding up the small loan application process

Only ask for what you can afford to repay

You should only ever apply to borrow an amount you can comfortably afford to repay. Your lender won’t approve your application if they’re not sure whether you’ll be able to comfortably repay your loan, so you should take stock of your disposable income (your available funds after expenses) to determine what monthly contribution you can feasibly afford to take on. By doing so, you can minimise the chances of loan rejection.

Gather the required documents ahead of time

Instant loans don’t require extensive documentation: digital copies of personal ID, bank statements, proof of address and contact information. However, taking care to have all of these ready, and ensuring they’re correct and up to date, will save on potential back-and-forths with your lender. Having your loan delayed because of mistakes with your documents is an entirely avoidable occurrence, so you should take the time to get everything right from the outset.

Complete any other loan payments

Although you can still be approved for financing if you already have another personal loan on the go, having your slate as clear of debts as possible will help advance your loan application. This is because your monthly disposable income will increase, providing you with greater breathing room for your repayments and instilling greater confidence in your lender that you’ll be able to manage your repayments without any trouble.

Apply early in the day

Applying as early in the day as possible will reduce your application’s chances of moving into a second day. If you apply at 9:00am on a Monday, for instance, the chances of swift funding are considerably higher than what you’d see on the same loan submitted at 8:00pm on a Saturday. Getting in early will help ensure your application moves to the front of the queue and can be fully approved and processed quickly.

The step-by-step process of applying for your cash loan

The application process for small loans is uncomplicated and a simple one to follow for any type of borrower, but that doesn’t mean you should enter your application blindly.

With loan funding taking as little as one hour (or less, in some cases), it’s important to be across each of these steps and understand how they work before you take the plunge.

Familiarise yourself with the application process so you can set yourself up for swift approval and funding today.

Apply with Savvy and get an instant outcome

Filling out our instant personal loan application will take minutes and instantly match you with your lender, from whom you’ll receive an outcome.

Complete your application with your lender

Once you’ve been pre-approved for financing, you can send through all the required documentation so they can confirm who you are.

Finalise your agreement and use your funds

You’ll receive a contract to sign and return electronically, and from there you’ll have access to the funds you need straight from your account.

Frequently asked questions about small personal loans without bank statements

Can I get a loan without any form of bank statement?

No – all lenders will require online access to your bank account information and statements as part of the process of greenlighting your application. They’re subject to responsible lending guidelines which ensure you won’t be approved for a loan your lender doesn’t feel you’re capable of repaying, which could lead to a debt spiral. As such, 90 days of bank statements will be assessed by your lender as part of your application, which you can provide access to straight from our website.

Who’s eligible to take out a loan?

The primary eligibility criteria you’ll find on small personal loans aren’t as stringent as what you’d find on a larger personal or car loan. You’ll be required to tick the following boxes:

  • You must be at least 18 years old
  • You must hold Australian citizenship or permanent residency
  • You must be receiving a stable, consistent income into your bank account
  • You must be able to support your loan repayments
Am I able to apply for a small loan if I’m self-employed?

Yes – self-employed borrowers are just as eligible to apply for a loan as any other applicant. The standard of qualification is the same: you’ll need to show three months’ worth of bank statements which display a consistent income stream over that period. You may find it difficult to be approved if your income throughout this period is inconsistent, but our lenders are prepared to try and work with you to find a financial solution.

Is it possible to pay out my loan early?

Yes – all cash loans come without penalty for early repayments, meaning there’s an incentive for you to pay above the minimum wherever possible. You’ll only be required to pay out your establishment fee in full at the conclusion of your loan, so completing it a month or more early will avoid the monthly fee of 4% of your loan amount. For instance, if you completed your $2,000, 12-month loan three months early, you’d save $240 in fees despite only paying less than $70 extra per month.

Is my information safe with an online application?

Yes – lenders are required to have advanced systems in place to protect your private information from being accessed by anyone else. Our online lending partners dealing in small personal loans possess the same level of encryption when it comes to receiving and storing your personal details. They also won’t share your information with any third parties unless you grant permission for them to do so.

Should I use my credit card instead of a cash loan?

Not always – while credit cards are an incredibly useful and convenient source of money on an everyday basis which avoids the rigmarole of applying each time you need further funds, they’re not the most suitable type of financing for every situation. They come with very high interest rates, which will apply to any remaining balance left over after rolling over into the next month (after the conclusion of its interest-free period). Therefore, if you’re looking for an amount you wouldn’t feel comfortable paying off in a month, you’re probably better off with a loan.