Small Cash Advance Loans

If you need a loan, apply for a small cash advance with Savvy.

Apply in less than 10 minutes.

Last updated on August 2nd, 2022 at 09:32 am by Kurtis Eichler

Apply for a small cash advance loan with Savvy

A small cash advance loan can be handy when you need some money to tide you over until payday. If you require some fast cash, Savvy can help you get out of a pickle.

We partner with flexible lenders who make applying fast and easy, allowing you to get a decision sooner rather than later on your application. Don’t wait around; apply with Savvy today.

What is a small cash advance loan?

A small cash advance is a type of short-term loan which allows you to borrow between $300 and $5,000. Depending on how much you’re approved to borrow, you can choose to repay your loan over up to two years or as little as 16 days if you just need some funds to bridge the gap until your next payday. You get the option of weekly, fortnightly or monthly repayment cycles.

Applying for a small loan is a breeze when you choose Savvy, as the entire application process is online and you can receive an instant outcome. Once you select your desired loan amount and why you need it, you can start your initial application. You’ll be required to share some information with your lender, including:


  1. Full name, date of birth, phone number and email address


  1. Home address, residential status, rent/board/mortgage costs


  1. Job status and title, industry you work in and the name of your employer


  1. Wages after tax, pay frequency, next pay date and whether Centrelink benefits make up more than 50% of your income

Your lender will require you to supply some digital copies of your personal ID to verify your identity. This information can be uploaded to a secure portal online. Your lender will generally request either one or a combination of:

  1. Australian driver’s licence or passport
  2. Proof of age or Medicare card

Once all these documents and details are provided, you’ll receive an instant decision on your application. If your application is initially rubber-stamped, your lender will run a credit and bank statement check to assess your borrowing and financial history. If these all run smoothly, you should be offered formal loan approval very soon after. Your lender will send across your loan contract which you can electronically sign so your funds can be released.

You should receive your funds on the same day; however, this depends on the timing of your application and your bank’s transfer speeds, as lenders don’t approve and fund payday loan applications 24/7, nor can all banks process transfers at all hours.

How much will my small cash advance loan cost?

The cost of your cash advance will come down to how long you take to repay your loan and how much money you borrow. Loans come with several fixed fees which are dependent on these two variables.

Cash advances come with two types of fees which are rolled into your repayments. These are:

Loan amount Establishment fee Monthly fee
$300 to $2,000
20% of your loan amount
4% of your loan amount every month
$2,001 to $5,000
Flat $400 fee
Fees capped at 48% over 12 months

In the same way choosing a smaller borrowing amount will mean paying a lesser establishment fee, reducing the repayment term on your loan will save you money on monthly fees. Short-term lenders in Australia don’t charge early repayment or exit fees, meaning you won’t be charged extra fees if you pay off your loan before the end of your term.

The following table shows you how much you could save by repaying a $1,000 loan over a shorter term.

Loan term Establishment fee Monthly fees Monthly payment Total loan cost Total saving
12 months
1 x $200
12 x $40
12 x $140
Nine months
1 x $200
9 x $40
9 x $173
Six months
1 x $200
6 x $40
6 x $240
Three months
1 x $200
3 x $40
3 x $440

What can I use my small cash advance loan for?

Whether you’re in dire need of some new home appliances or want to take the pain out of a hefty dentist bill, you can use cash payday loans for a variety of urgent and not-so-urgent expenses.

When you apply for a same-day loan, your lender will ask you to specify why you need it and gives you a handful of valid reasons. Some common purposes for taking out a small loan include:

  1. Groceries, petrol and other general living expenses
  2. Medical procedures, such as trips to the dentist
  3. Child-related costs such as school uniforms or clothes
  4. Repairs to your home or general maintenance
  5. Travel expenses such as flights and accommodation
  6. Vehicle upkeep such as servicing, registration and repairs
  7. New furniture or white goods

There are some restrictions in terms of how you spend your loan. You won’t be able to your loan funds to gamble or repay a similar type of finance, such as another payday loan.

Got a small cash advance loan question? We have the answers

What eligibility requirements do I need to meet to apply for a small cash advance loan?

To qualify for a loan, you’ll need to meet the following eligibility requirements:

  • At least 18 years old
  • A permanent Australian resident
  • Earning a steady income
  • No active payday loans
  • Working phone number and email address
  • Access to bank accounts online
How often can I make repayments on my cash advance loan?

You can schedule repayments weekly, fortnightly or monthly so they fall in line with when you get paid. You can also choose to make payments via direct debit or BPay.

Can I apply for a cash advance if I have bad credit?

Yes – bad credit is unlikely to significantly impact your chances of approval on a cash advance loan. When lenders run a credit check, they prefer to look at your wider borrowing history and your current ability to repay the loan rather than focus on your score. This allows them to get a fuller picture of your borrowing history and look at factors such as:

  • Repayment history
  • Credit products in your name
  • How often you apply for new credit
  • Court judgements
  • Unpaid or paid defaults
I’m collecting government benefits. Can I still apply for a loan?

Yes – you can get a loan if you’re earning government benefits, as long as the payment you receive is ongoing. For example, single parents collecting Centrelink benefits can get a loan if they receive a single parent payment or Family Tax Benefit Part A or B. Other eligible benefits include:

  • Aged pension
  • Carers payment
  • Child care subsidy
  • Disability pension
  • Veterans’ pension
Will my employment be checked when I apply for a loan?

If you’re earning a consistent stream of income, a lender won’t need to run a check of your employment or contact your employer. Lenders will be able to see from the read-only access to your internet banking statements how much you’re regularly earning and if it’s enough to cover your proposed loan repayments.