A little extra cash can make life a lot easier if you find yourself scraping money together to pay an unexpected bill or are simply strapped for funds. If you need a short-term, same-day loan to tide you over, Savvy can help, even if you have bad credit.
By partnering with credible lenders who look beyond your credit score, Savvy can help you get same-day approval on loans from $300. Apply online and have money in your account before you know it.
Yes – our lenders across Australia are more focused on your ability to repay a new loan rather than your credit score. Savvy partners with understanding lenders who’ll consider what you’re currently earning when assessing your short-term loan application, even if your credit is very bad. By applying with Savvy, you can get same-day loans between $300 and $5,000. After you receive instant approval after submitting your short-term loan application, you can be formally approved and funded on the same day in most cases.
These loans come with term options ranging from 16 days to two years depending on how much you borrow. For example, you can take up to one year to repay your loan of $2,000 or less and up to two years for any amount more than that.
Credit checks are conducted largely to get a clear picture of your payment and borrowing history. Lenders will pay close attention to recent defaults on similar financing, which can hinder your chances of approval on a new same-day loan. Getting a free copy of your credit report from a reporting agency can allow you to check your history and spot any mistakes which may be listed on your file.
If you have very bad credit, it may be tempting to search for lenders offering ‘no credit check’ or ‘guaranteed approvals’ on same day loans. However, reputable lenders won’t offer these products in line with responsible lending regulations. Rather than opting for a lender spruiking ‘no credit checks’ or other guarantees, you can apply with us regardless of your credit score
Applying with Savvy is an efficient and straightforward process to help you get approved and funded as quickly as possible. Before you apply for a short-term loan, double-check you satisfy the eligibility criteria. To qualify, you must:
Applying for a loan online with Savvy takes about ten minutes. As part of this process, you’ll be asked to provide your personal information, contact details and a reason for needing a loan via our secure portal. You’ll also need to provide your employment history and what you earn. You must also provide 100 points of identification, which can include:
Once you’ve submitted your application, you’ll receive an instant outcome. From there, lenders will assess your application to ensure you can afford the repayments. You’ll be required to supply access to your online bank statements to verify your income and expenses. To give you peace of mind, your banking information is protected using high-level encryption and the lender will only be able to view your account statements, not change them.
If satisfied, lenders can provide you with formal loan approval in as little as one hour. A loan contract will be emailed to you to digitally sign. Once returned, your payday loan funds will be transferred directly to your bank account. In most cases, your funds will hit your account on the same day. Some lenders may ask for additional information, which could delay the process, but this won’t always be the case.
Life can occasionally throw you a curveball. If you need money fast, short-term loans can be used to help cover a range of these types of costs including: