Got bad credit? Get a quick same-day loan with Savvy.
Fact checked
Fact checked
A bad credit score shouldn’t hold you back if you need a quick or urgent same-day loan. That’s why, if you’re looking for a second chance at finance, Savvy can help you secure a loan, even with a less-than-perfect score.
When you apply with us, you’ll be matched to a partner lender with a loan best suited to your circumstances. Our processes are fast and easy to save you valuable time. Don’t let bad credit stand in your way; apply with Savvy today.
Yes – you can get a loan paid out as soon as on the same day you apply, even if you have a bad credit score. The reality is that bad credit doesn’t really matter when you apply for a short-term loan, as payday lenders have more flexible lending requirements compared to the big banks and larger lenders.
Any time you apply for a loan, a lender will run a few easy checks to ensure you can afford the proposed repayments. A credit check is part of this process and gives your lender an impression of what type of borrower you are. You won’t find a ‘no credit check loan’ among reputable Australian payday lenders, as responsible lending obligations ensure financiers won’t be able to approve you for a loan you’re unable to comfortably repay.
If you’re searching for ‘no credit check payday loans’ because you have a less-than-stellar credit score, though, there’s no need to worry. When a lender runs a credit check, they tend to look at your broader borrowing track record and current ability to repay your loan rather than concentrate on your score. This includes assessing factors such as your repayment history, defaults, active debt and how often you’ve applied for credit.
If you need your money on the same day you apply, it’s a good idea to do so as soon as possible. Lenders don’t process applications around the clock or outside business hours, so getting your application in earlier in the day or week will improve your chances of a same-day payout. It’s a good idea to remember that many banks can take a few hours to process certain transfers, which may take longer outside of business hours.
You can apply to borrow between $2,050 and $5,000 with a same-day loan, dependent on how much your lender deems you can afford. Lenders will review factors such as your income, to estimate how much you can comfortably afford.
When you apply for a same-day loan, your lender will ask you to share some details about your income, including how often you get paid and how much you earn after tax. They then review a read-only copy of your internet banking statements over the past 90 days to double-check you can afford a new loan, looking at your income, expenses and recent spending.
It’s a good idea to have a rough idea of your own borrowing power if you need a loan today. Applying to borrow too much money can hold up the approval process on your loan as lenders will often need more proof you can afford your repayments or simply result in a loan rejection.
Wages aren’t the only form of income that can be factored towards your loan, though. You can also include fixed Centrelink benefits, provided that they’re stable, ongoing and reliable. Including these payments in your loan application will likely enable you to borrow more than if you left them out.
Taking out a quick loan comes with a few fixed fees attached; however, the real cost of your loan will depend on how much you borrow and how long you take to pay it back.
If you need cash today and want to apply for finance, your loan will come with two standard costs:
Opting for a shorter term will save you money on monthly fees. Loans come with repayment terms of up to two years and while choosing a longer term will mean paying more in regular repayments, you’ll end up paying fewer fees. For example, if you chose to repay your $3,000 loan over 12 months instead of 15, your regular repayments would increase by $57, but you’d save $360 in total on monthly fees.
No matter the time of day or week, you can complete your small loan application with us online.
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
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.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
