Need Cash Fast? Get Approved in 60 Seconds!
Unexpected expenses can derail your finances in a heartbeat. Whether it’s car troubles, surprise medical bills or household needs, the simple fact is that the cash isn’t always money in your bank account when you need it. That’s where Savvy can help you.
You can apply for a hassle-free instant cash loan with us to help you bridge the gap. We’re partnered with a range of trusted lenders and offer a streamlined online application that takes minutes to complete. When you apply through us, you'll know your approval decision from one of our lenders in as little as 60 seconds.
Cash loans are designed to help you cover those urgent costs quickly and conveniently. Get the money you need quickly and easily, so you can get back on track with your finances.
WHAT IS A CASH LOAN?
A cash loan is a type of fast, small loan that ranges from hundreds of dollars up to $5,000. They also come with short repayment terms, allowing you to take as long as 24 months or as little as 16 days for smaller amounts. When you’re approved for one of these loans, you’ll receive the lump sum upfront and repay it over your agreed term with fees and, for loans above $2,001, interest.
Instant cash loans are the quickest form of loan available, with the shortest application process, minimal documentation requirements and the shortest turnaround times for payment. Some lenders transfer funds within an hour, while others can do so as soon as the same day.
How instant is “instant” when it comes to cash loan approval?
With Savvy, your application can be assessed and an outcome can be provided in as little as 60 seconds from the time of submission. You’ll only need to enter your desired loan amount, what the loan is for, personal details and current income, which can be completed in just a few minutes!
From there, we’ll run your initial application past our marketplace of partners to match you with a suitable lender based on your profile. If your information passes their initial checks, you’ll receive a conditional approval in 60 seconds and, once you complete the remainder of your application with them, formal approval and funding as soon as within the hour or the same day.
What are the fees and charges for cash loans?
Fees and charges differ slightly depending on the amount borrowed. For amounts over $2,001 up to $5,000 the cost of instant loans is calculated via a $400 mandatory establishment fee and a monthly fee of up to 48% per year. For loan amounts $2,000 and under, there is a 20% establishment fee and a flat ongoing monthly fee of 4%.
However, the true cost will come down to factors like the size of the loan and the length of the term you choose. For instance, consider the following example:
Sarah’s dog swallowed something he shouldn’t have and now needs an emergency trip to the 24-hour veterinary clinic! The problem is, she doesn’t have pet insurance, nor enough available cash to cover the bill, and it’s going to be a steep one. What to do?
She considers her options and decides to apply online for a $4,000, 12-month cash loan with Savvy. She’s matched with a lender and has her application approved within an hour!
Sarah’s fortnightly repayments will be $215. Setting up direct debits ensures she never misses a payment and helps with budgeting. Over the course of the loan, she’ll repay a total of $5,626, which includes a $400 establishment fee and $1,167 in interest overall.
By taking advantage of a cash loan, she has helped her beloved four-legged friend and is able to pay off her vet bills at her own pace!
Why apply for a small loan with Savvy?
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.
How to navigate your instant loan application
Eligibility Criteria
You need to be over the age of 18, an Australian citizen or permanent resident, been receiving regular income for at least 90 days into a bank account and have an active email and/or mobile number.
Give Us Some Information
We don’t need bank statements or payslips; but estimates of your current earnings, assets, and liabilities will help us decide if an instant loan is right for you. We will also need information such as your Drivers Licence number.
Apply Once
Don’t apply more than once! Applying multiple times can hurt your credit history.
Await Approval
Apply for an instant loan using our secure online portal. Get confirmation of approval instantly, with cash transferred within the hour (in some cases.) Check your phone or email for acceptance.
Get Your Funds
We’ll forward the approved funds to your nominated bank account.
Instant Cash Loan - Frequently Asked Questions
What can’t an instant loan be used for?
Several purposes for which they can’t be used include gambling, repaying another debt, or daily living expenses, such as groceries.
Should I apply for multiple loans at one time to save time?
No, you shouldn’t! Making many applications for cash loans can damage your credit history, as a record of each failed application is visible to new lenders. It may also impact your chances of approval for cash loans and other loans, as lenders may see you as more of a risk. You can check your credit history once per year for free using one of the credit reporting companies to learn where you stand.
How do I pay a loan back?
Setting up a direct debit facility will ensure you never miss a payment. The repayment frequency can be matched to your pay cycle – weekly, fortnightly or, in some cases, monthly repayments are all possible. Decide what works for you when applying.
If receive government benefits, can I apply?
Yes, we can arrange instant loans for those on a regular government benefit payment. The main criteria is whether the payment is ongoing and not liable to change.
Can apply:
- Aged pension
- Disability pension
- Any regular ongoing payment
Can’t apply:
- JobSeeker
- Youth Allowance
- ABSTUDY
- Austudy
Can I apply as a single parent?
Single parents can apply; nor is there any restriction based on relationship or marital status. The only relevant criteria is regular income, either through employment, work or a combination of the two.
What if I have bad credit?
You can still be approved for a cash loan even if you have bad credit. Providers focus more on your ability to repay than your credit score. We’ve helped many people access the loans they need when they have bad credit over the years through our trusted and flexible lending partners, as we understand life isn’t always smooth sailing.
Can I pay off my loan early for free?
Yes! Cash loans don’t charge a fee for early repayment. In fact, paying off the loan ahead of schedule shows you are a reliable and committed borrower, which may make borrowing money the next time even easier. Better still, early repayment will save you more money, as fewer fees and interest will accrue.
Small loans to suit your circumstances
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.
