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Quick Loans Online Same Day

Get quick outcomes now on same-day loans online 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.

When you need a loan as quickly as possible, it can be hard to know where to look, with countless online lenders offering a wide range of deals in Australia. If you’re searching for same-day approval, Savvy can help.

By partnering with flexible lenders who offer fast and straightforward online processes, Savvy can help you receive an instant outcome on finance from $2,050. Apply with us and receive your funds as soon as today.

How can I get a quick online same-day loan?

You can get same-day approval on your quick loan by applying with Savvy. After submitting a quick online form, you’ll receive an instant outcome on your loan. From there, your application is formally assessed and, if approved, your funds can be paid out as soon as the same day you apply in most cases.

The time at which you apply, the strength of your application and whether your lender needs further information can impact the speed of your application. Applying earlier in the day can avoid your application running overnight or into a weekend. Even if all of these factors work in your favour, your bank’s processing time may also impact the speed of receiving your funds.

How much can I borrow with a same-day loan?

You can apply to borrow between $2,050 and $5,000 with a same-day loan, depending on your circumstances. It’s important to have a rough idea of what you can comfortably afford to repay weekly, fortnightly or monthly when you start looking around for an online payday loan. This will give you a better indication of how much a lender may be willing to loan you. Several factors can impact this, including:

  • Income: the more you earn, the more you may be able to borrow. One of the key conditions of applying for a loan is earning a steady income which can come from several sources including paid work or fixed Centrelink benefits.
  • Expenses: lenders will assess your ongoing living costs, such as rent or mortgage payments as well as regular bills and food costs, when approving you for a loan amount. Fewer outgoings will increase a lender’s confidence in you to make your repayments.
  • Spending: your borrowing capacity can be boosted if you can demonstrate frugal spending and steady savings. Showing you’re living within your means and putting some money aside will demonstrate strong financial habits to a lender.
  • Payment history: while you can be approved for a small loan with bad credit, keeping on top of your due dates on bills and other loans can improve your borrowing power. Late payments or defaults on similar payday loans add bad credit to your file and will likely impact how much a lender will be willing to loan you, if anything at all.

How can I save money on my quick same-day loan?

Finding ways to save money on your payday loan can leave more money in your pocket. There are little things you can do to help curb costs and save money when you take out a loan. Some of these include:

Choosing a shorter term

Your loan term is a contributing factor when it comes to how much you pay in fees. While it can be tempting to pay your loan off over a longer period to reduce the size of your repayments, choosing a shorter term can slash the overall cost of your loan. For instance, if you paid off your $2,500 loan over nine months instead of 12, you could save $300 throughout the agreement.

Take out a smaller loan

Borrowing a smaller amount can reduce how much you pay in fees. If you have some savings behind you, it can be worth using this towards the cost you want to cover and borrowing a lesser amount. For example, if you borrowed $2,200 and used $300 of your own money instead of applying for a $2,500 loan, you could save over $200 on fees over a one-year term.

Making extra repayments

Paying a little bit more off your payday loan is a good way of speeding up its repayment. Because fees are charged every month, you could save on costs you would otherwise incur if you can wrap up your loan sooner than originally intended. Direct lenders don’t charge break or early repayment fees, meaning paying off your loan early won’t come at an extra cost.

Why apply for a small loan with Savvy?

Common questions about same-day loans

Can I get a same-day loan with no credit check?

No – you can't get a same-day loan in Australia without a credit check. Reputable lenders always run credit checks on loan applicants. Same-day loan approvals don’t hinge on having a good credit score, though, so if you’ve got bad credit and you’ve struggled with approval in the past, there’s no need to worry. Lenders will run a check to view your credit history and payment track record, so you can get approved even if you have bad credit. Less credible lenders offering ‘no credit check’ loans should be avoided as their loans tend to be quite costly.

How much do same-day loans cost?

The fees charged on same-day loans are:

  • Establishment fee: this is a fixed one-off fee which is rolled into your loan repayments and capped at $400.
  • Monthly fees: this is a rolling charge calculated on your loan amount. This is capped at 48% annually.
Should I use my credit card instead of taking out a same-day loan?

If you’re able to repay your debt within your credit card’s interest-free period, it may be the better option for you. However, if you can’t, loans allow you to pay at your own pace with fixed repayments and fees, without ballooning interest which has the potential to continue growing each month.

Can I apply if I am unemployed?

Yes – you can get a loan if you’re unemployed so long as you’re earning a consistent income of some form. Several fixed Centrelink benefits can be assessed as part of your application including the aged pension, carer’s payments or single parent payments.

What documentation will I need to provide?

You will need to provide 100 points of ID when applying for a loan. This can come in the form of:

  • A driver’s licence
  • A Medicare card
  • An Australian passport
  • A utility bill or bank statement
  • A government-issued proof of age card
How do I know if I’m eligible for a quick online loan?

To qualify, you must meet several payday loan eligibility criteria including:

  • Aged over 18 years old
  • Being a permanent Australian resident or citizen
  • Earning a regular steady income
  • Having an active mobile number and email address
  • Access to your bank accounts online

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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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