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 $300. Apply with us and receive your funds as soon as today.
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.
You can apply to borrow between $300 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:
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 $2,000 loan over eight months instead of 12, you could save $320 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.