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Quick Payday Advance

Apply for a quick payday advance of up to $5,000 through Savvy today and receive an instant outcome.

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 November 29th, 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 November 29th, 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.

If you’re in a situation where you need money fast, such as to catch up on bills or simply add extra funds to your household budget, it’s important to know that a quick payday advance can help you out. That’s where Savvy can help.

We’re partnered with lenders who understand your situation and can offer not only instant outcomes but also formal approval and funding as soon as the same day you apply. Get the ball rolling through us today!

What are quick payday advances and how do they work?

Quick payday advances, also known as payday or small loans, are short-term financial solutions designed to provide immediate cash for individuals facing unexpected expenses or cash flow gaps between paycheques. These loans typically offer a small amount to be repaid in instalments over a set period, which can range from as little as 16 days to two years in some cases (12 months is another common loan term).

Borrowers can choose from weekly, fortnightly, or monthly repayments. The cost of its fees are also dependent on the size of your loan and the amount of time you take to repay it. The two main fees to consider are the monthly fee (which is capped at 48% of your loan’s value over 12 months) and the establishment fee (capped at $400).

How much can I borrow with a quick payday advance?

Through Savvy, you can borrow any amount from $2,050 up to $5,000 (subject to meeting the required lender eligibility criteria). This flexible range can accommodate a range of financial needs and provides individuals with the ability to choose an amount tailored to their specific needs.

However, it’s important to note that the borrowing capacity for each applicant is determined by a range of factors, including credit score, income, existing liabilities, savings and other relevant financial considerations. This means that you may not be able to borrow the same amount as another applicant if your financial situations are very different.

Ultimately, what you can borrow will come down to what you can afford to comfortably repay. Your income can come from multiple sources, such as one or more jobs with stable pay and hours and eligible Centrelink payments. If you’re applying to take out a loan with fortnightly repayments of $500 and you only earn $400 per fortnight, for instance, you wouldn’t be approved.

How do I apply for a quick payday advance with Savvy?

Applying for a quick cash advance loan through Savvy is a user-friendly and efficient process. Our straightforward online application form can be completed in just a few minutes, where you can provide information about yourself, your income and employment and more.
Once you submit your application, you’ll be matched with a lender whose criteria you automatically meet receive an instant outcome in 60 seconds. If approved, your lender will formally assess the application. From there, you can be formally approved if you pass all the required checks (which may include providing further documentation in some cases).

Your lender will send through loan documents for you to review and sign. These will outline all the terms and conditions of your agreement, including your repayment schedule and term, fees and more. After you sign this and return it to your lender, the funds can be advanced to your nominated account as soon as the same day and you’ll begin repaying it the following week, fortnight or month (depending on what you chose).

Why apply for a small loan with Savvy?

Frequently asked questions about quick payday advances

How fast can I get a quick payday advance?

When seeking a quick payday advance, the application and approval processes prioritise speed. If your application satisfies the lender's criteria and promptly provide necessary documentation, you could receive formal approval and funding on the same day you apply. However, factors like your application's complexity, the lender's processing time, and whether your application is within business hours may influence the overall approval timeline.

Can I access a quick payday advance with bad credit?

Yes – you can still acquire a quick payday advance with bad credit. Unlike conventional lenders that place a great deal of importance on credit scores, those offering quick payday advances tend to adopt a more flexible approach. They can look beyond credit histories, focusing on your current financial situation when evaluating your application.

Can I repay my quick payday advance early?

Yes – repaying your pay advance ahead of schedule is a great way to save you money on fees. All loans of this type come without early repayment penalties, so the sooner you pay it off, the less you’ll pay in monthly fees.

What can I spend my quick payday advance funds on?

Quick payday advance funds are versatile and can be used for a wide range of purposes. Whether you need to cover unexpected expenses, handle bills or even help fund your next holiday, the flexibility of small cash loans allows you to use the funds as needed, providing fast financial relief.

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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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