$1,000 Loan

Qualify for a $1,000 loan today and use the funds for anything you need. Fees get capped, repayments are flexible.

  • Borrow up to $5,000
  • Outcome in 60 seconds
  • Flexible repayments
  • 100% online
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 September 12th, 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.

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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 September 12th, 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.

When you need short-term finance that’s fast to arrange, you can apply and qualify for a $1,000 loan the same day via Savvy. No matter what you need funds for, smaller cash loans come with clear-cut qualification requirements, fixed and capped fees and applications happen 100% on the web – so they’re lightning fast. 

How does a $1,000 work?

$1,000 loans are part of a family of finance products that are designed to provide quick and relatively simple approvals and take advantage of the internet, technology, and rapid money transfers.

$1,000 loans also come with a straightforward structure of fees and repayment options are designed for convenience. Repayments can be set for any period between 16 days and one year and borrowers can also request weekly, monthly, or fortnightly repayment terms to match their income frequency. There’s no requirement for the borrower to supply any type of security for their loan either.

Fees for $1,000 loans are easy to understand and budget-friendly. There are two main types: setup and repayment fees. The first of those is based on a maximum of 20% of your loan amount – and can’t be higher. The second is based on 4% of what you borrow and that’s strictly capped too. Setup fees don’t need to be paid up front: they’re incorporated into your loan amount and you tackle them as part of your repayments during the agreed term.

That means that smaller cash loans become more expensive the longer they run and the more you borrow, so it’s essential to plan applications carefully and repay as quickly as you can comfortably afford. Here are some examples of how loan lengths and borrowed amounts affect costs:

Loan amount Loan term Monthly repayment Total fees Total to repay
$1,000
2 months
$640
$280
$1,280
$1,000
4 months
$340
$360
$1,360
$1,000
8 months
$190
$520
$1,520
$1,000
12 months
$140
$680
$1,680

What can I use a $1,000 loan for?

Start a business

Many Australians use cash loans to get a business idea off the ground. You can get a $1,000 cash loan to start a side gig, buy equipment to launch a startup with a small loan or even fund an eCommerce website.

Complete a training course

You may need to produce some upfront funds when aiming to complete a training course. This may be required as part of your employment, something you’ll have to do to qualify for your desired employment into the future or it simply may be a course you wish to complete for your own personal benefit. Whether it be a barista course or first-aid, $1,000 is a versatile amount that can cover you when you can’t quite afford your training.

Pay unexpected bills

All of us have those weeks or days when expenses all come at once – and it’s usually right in between paydays. Pet owners have vet bills, electricity and gas costs skyrocket in winter, vehicles break down and more. When the unexpected happens, a small loan can provide some breathing space and you can pay it back as soon as you get back on an even financial keel.

Cover a rental bond

Moving house can be expensive, but you can use a shorter-term loan for a rental bond and spread the cost over a few pay dates. Many borrowers also incorporate costs like steam cleaning and movers into a single cash loan.

Purchase a vehicle

You can use a $1,000 loan for a car deposit or even to buy a second-hand vehicle. Some borrowers use cash loans to lessen the impact of annual registration costs, and then repay the expense gradually over a few pay cycles.

Got more questions about $1,000 loans? Get some answers here

Who can apply to borrow $1,000?

Most borrowers can apply for a $1,000 as long as they can afford repayments. You can use a small cash loan on Centrelink, as long as more than half your income doesn’t come from benefits. $1,000 loan applications are appraised on the basis of responsible lending guidelines, so the majority of issues with credit in the past won’t affect your chances. You can get a loan if you’re self-employed and some lenders consider applications for unemployed cash loans, too.

Why do $1,000 loan lenders check my credit report?

Cash loan providers are primarily looking to see what existing borrowing you have. They also check to see you’ve not had problems paying off similar small loans before or have some recent defaults on your file. They’re not really looking at your actual credit score, so borrowers can still apply for a $1,000 loan with bad credit.

Can I apply for a $1,000 loan if I’m repaying a Part 9 debt agreement?

No – however, you can apply for a $1,000 loan after you’ve finished repaying one. Also, borrowers who have been declared bankrupt will need to have been discharged for at least 18 months before they can apply for a $1,000 loan.

What hours can I apply for a $1,000 loan?

You can apply for a cash loan at any time of the day or night, 24/7. If you need $1,000 the same day, it’s best to submit an application early in the morning so the lender has ample time to assess and approve it.

What do I need to apply for a $1,000 loan?

Applicants need to be permanent residents or citizens and over eighteen. You’ll need ID (driver’s licence, passport, or similar), proof of address (like a utility bill), payslips or Centrelink Income Statements, your Medicare card, and online banking. You can grant lenders read-only access to your bank statements like that.

Can I get a $1,000 loan if I’m not an Australian permanent resident?

In some cases, yes. Lenders will consider cash loan applications from non-residents when they hold a qualifying temporary visa, but your loan term will need to end at least a couple of months before the visa expires.

I’m paid in cash. Can I still apply for a $1,000 loan?

Some lenders will consider loan applications on the basis of just payslips, but you’ll still need to have online banking activated and pay your wages into that account so the loan provider can assess your regular spending for loan affordability checks.