Wagepay Alternatives

Apply through Savvy for a swift and hassle-free alternative to Wagepay, securing quick and convenient small loan funds.

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 January 25th, 2024       

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 January 25th, 2024       

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.

Wagepay and alternative lenders and apps have become popular among Australians seeking quick and convenient financial solutions. However, it's crucial to consider other options, which is where Savvy comes in handy. We can guide you through Wagepay and its alternatives and how they work, allowing you to compare them with the straightforward process of applying for a fast loan through us today!

How do Wagepay alternatives work?

Wagepay is a pay on demand app which offers an alternative avenue for individuals seeking pay advances. These alternatives enable users to access a predetermined portion of their anticipated earnings before the regular payday. The specific advance limit with Wagepay sits at 25% or $2,000, but this will vary among providers and is influenced by your income, repayment history and other factors related to your individual profile.

Upon a successful application, users can expect rapid approval and the direct deposit of the approved amount into their bank accounts. Repayment is then orchestrated through automatic deductions from upcoming paychecks, accompanied by service fees to facilitate the process.

What fees will I have to pay with Wagepay alternatives?

When considering alternatives to Wagepay, the fee model tends to prioritise simplicity. Unlike other platforms in this category, Wagepay does charge interest on their loans in addition to fees, which is capped at 24% p.a. Borrowers will also encounter a singular fee, typically fixed at around 5% of the borrowed sum and due on the forthcoming payday. However, depending on your borrowing profile, you may be charged less in interest and fees.

Having a clear understanding of this cost structure is essential when exploring various loan options. For instance, a $100 loan would result in a fee of about $5, while opting for the maximum amount of $2,000 would incur a fee of around $100.

What alternatives to Wagepay are available?

In search of a simple and accessible alternative to Wagepay and similar services? Consider applying for a small loan through Savvy. We've partnered with reputable lenders across Australia offering fast cash loans ranging from $2,050 to $5,000. Our online application process is streamlined and efficient, delivering an instant outcome in just 60 seconds after you submit it. If conditionally approved, you can swiftly secure formal approval if you satisfy the required criteria, and funds can be released by your lender within as little as one hour, depending on your lender and bank's processing times. Get started today to access the financial support you need with ease!

Why apply for a small loan with Savvy?

Common questions about small loans

Can I qualify for a small loan with bad credit?

Yes – you can secure a small loan despite having a less-than-ideal credit history, provided you meet the eligibility criteria set by the lender. While traditional lenders may heavily consider credit scores, those offering small cash loans generally take a more flexible approach.

Is there an option to clear my small loan before the specified date?

Yes – settling your small loan ahead of schedule is allowed by law, and there are no penalties for doing so. Opting for early repayment is often a good choice, minimising monthly fees and ultimately lowering the total cost of the loan.

Are there specific guidelines on the usage of my small loan funds?

Once you acquire your small loan funds, you gain the flexibility to use them for different purposes. Whether it's addressing household expenses or handling unexpected financial requirements, the choice is yours. However, it's important to recognise specific usage limitations, such as avoiding the repayment of other small loans or participating in gambling activities.

Are weekend disbursements an option for my small loan funds?

Your loan application can only undergo formal assessment, approval, and funding during your lender's standard business hours. If your lender operates on Saturdays or Sundays, there's a possibility that you could receive your loan funds over the weekend. However, keep in mind that the actual disbursement of funds is also contingent on bank processing times, so even if your lender approves your application on the weekend, the funds may not be available straight away.

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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.