Get fast and fuss-free payday loans 24/7 by applying with Savvy.
Fact checked
Fact checked
If you’re chasing a quick loan to get you out of a jam, it can be tricky to know where to turn. Choosing Savvy will save you the hassle of searching the internet for lending options. We’ll find you a suitable payday loan by matching you to one of our responsible direct lenders.
Applying is straightforward and fuss-free with our fully online process, which gives you an instant decision on your loan application. Save yourself the run-around and apply with Savvy today.
Applying for a payday loan through Savvy will connect you to a direct lender with finance suited to you. We partner with a panel of flexible lenders with fast-tracked and straightforward online processes, so you have a shot at getting rapid approval and funding.
Each lender has a set of eligibility requirements you’ll need to meet to qualify for a loan. These are typically very similar from financier to financier but may vary. They generally include:
You’ll also be asked to provide several documents to verify your identity. Lenders will usually request the following:
Once you’ve checked off that you qualify for a short-term cash loan, you can start your application. Take your time filling out your initial application, as you risk holding up your approval if you miss any sections or make simple errors.
The initial online application requires you to provide some basic personal, income and employment information. This includes how much money you’re taking home after tax and what you pay in rent/mortgage/board costs.
When you submit your application, you’ll receive an instant decision direct from your lender. If you’re approved, your lender will run checks of your borrowing history and income to confirm the information you provided is accurate. You won't be able to get a short-term loan with no credit check or paperwork through reputable lenders. Once these checks are complete, your lender may be able to offer you formal loan approval soon after.
You can apply to borrow between $2,050 and $5,000 with a payday loan. However, direct lenders will assess your borrowing power when considering you for approval so they can be assured you’ll be able to manage your repayments comfortably.
Lenders determine how much you can borrow by looking at your income, expenses and wider financial and borrowing history. The greater the amount of money left over after expenses are deducted, the more you’ll likely be approved to borrow. It’s important to have a rough idea of how much you can afford to borrow before you apply to avoid overreaching.
One of the benefits of a cash loan is that you can count multiple income streams toward your loan. This can include not only your wages but fixed Centrelink benefits, investment revenue or income generated from superannuation.
Having a steady history of savings and paying off any outstanding debts before you apply can also help increase your borrowing power. Additionally, having paid off similar loans in the past can also boost your borrowing capacity, as lenders want to see you’re disciplined enough to pay off your debt.
Taking out a payday loan comes with a few fixed fees which are rolled into your loan repayments. These charges are the same across most lenders and are spelled out clearly on their website and in your loan contract so they can be easily factored into your budget. They include:
Establishment fee:
Monthly fee:
Choosing a shorter term will help you save money on fees and repay your loan faster. These loans come with term options from 16 days to 24 months. See the table below to show much you could save on a loan of $4,000 by opting for a shorter term length.
| Term Length | Establishment Fee | Monthly Fee | Monthly Repayment | Total Cost | Total Saving |
|---|---|---|---|---|---|
|
18 months |
$400 |
$160 |
$404.44 |
$7,280 |
N/A |
|
15 months |
$400 |
$160 |
$453.33 |
$6,800 |
$480 |
|
12 months |
$400 |
$160 |
$526.67 |
$6,320 |
$960 |
|
Nine months |
$400 |
$160 |
$648.89 |
$5,840 |
$1,440 |
No matter the time of day or week, you can complete your small loan application with us online.
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
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.
