Three-Month Payday Loans
Need a short loan? Apply for a three-month payday loan with Savvy.
- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
- 100% online
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Short-term payday loans can be handy when you need money for home or vehicle maintenance, have to pay a few urgent bills or anything in between. When you turn to Savvy, we can help you get a loan for just three months to help you cover a range of costs.
By applying with us, you’ll be connected to one of our lending partners who offer flexible loan repayment options. It’s super easy to apply, so get the process started with Savvy today.
Can I get a payday loan over three months?
Yes – you can get a payday loan with a repayment term of three months. When you apply for a payday loan online, you’ll be given the option of borrowing anywhere from $2,050 to $5,000. You’ll then be given the choice of repaying your loan over a term of just 16 days to two years in length.
Once you’ve chosen your loan amount and selected the reason you need it, you can start the initial application. This doesn’t take long to complete and involves sharing some personal information and employment details, such as how long you’ve had your current job and how much you earn after tax. After these have been supplied, you’ll receive an instant outcome on your quick cash loan application.
If you’re instantly approved, your lender will proceed to the next stage of the process. This involves confirming the information you’ve provided in the initial application through a no-fuss credit check. They’ll also review 90 days of online bank statements to confirm your income, recent spending and regular expenses. If all of these checks go smoothly, you should receive formal loan approval very soon after.
How much will my three-month loan cost me?
These types of finance come with fixed fees, but how much your three-month loan ends up costing you will come down to how much money you intend to borrow.
These short-term loans come with two types of fees: an establishment fee and a monthly fee. The ways these apply to your loan are as follows:
- Establishment fee: one-off fee built into your repayments, charged at no more than $400
- Monthly fee: charged for each month of your loan and split among your repayments, capped at 48% of your loan sum over 12 months.
The size of your loan will ultimately decide how these apply. Lenders will take into account the size of your loan repayments when considering you for approval to ensure they are manageable on your current income. Read our table to see how these fees apply to loans of different sizes:
| Loan size | Loan term | Set-up cost | Monthly fees | Monthly repayment | Total cost |
|---|---|---|---|---|---|
|
$2,050 |
3 months |
1 x $400 |
3 x $82 |
3 x $898.67 |
$2,696 |
|
$3,000 |
3 months |
1 x $400 |
3 x $120 |
3 x $1,253.33 |
$3,760 |
|
$4,000 |
3 months |
1 x $400 |
3 x $160 |
3 x $1,626.67 |
$4,880 |
|
$5,000 |
3 months |
1 x $400 |
3 x $200 |
3 x $2,000 |
$6,000 |
How quickly can I receive my payday loan funds?
In the majority of cases, you should receive your payday loan funds on the same day you’re approved. However, this will depend on when you apply and how fast your bank processes payments.
Direct lenders will release your funds soon after your loan contract is signed and returned. While your money should be available in your account on the same day in most cases, this may ultimately depend on your bank’s transfer speeds. These vary from bank to bank, although most will process payments made before 6pm on the same day. If there is a delay, though, you’ll have the peace of mind that you’ll receive your money very soon after.
Direct lenders won’t approve and fund applications 24/7, so applying early can improve your chances of getting same-day approval. By applying earlier in the day and week, there’s less of a chance of the application process running overnight or into a weekend.
If you do find yourself in need of some emergency cash over the weekend, though, some lenders offer weekend payouts in Australia. You can apply for a loan on the weekend with Savvy and connect with one of our lenders who are open on Saturdays and Sundays.
Why apply for a small loan with Savvy?
Apply online, 24/7
No matter the time of day or week, you can complete your small loan application with us online.
Instant outcomes and same-day money
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
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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.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
