Furniture finance can cover the cost of essential household items like furnishings and white goods. These small loans can offer up to $5,000, providing quick access to cash if you need to buy or replace items in a hurry. Whether you’re moving into a new home or replacing faulty appliances, a furniture loan can make these larger purchases more manageable.
With Savvy's simple, streamlined application process, you could be approved in 60 seconds and have funds for your new furniture in your account in as little as an hour. As long as you meet basic eligibility criteria for age, residency, employment and income, you can get started right away.
How much will my furniture and white goods loan cost?
When it comes to cash loans, there are two main factors that influence your total loan cost: how much you borrow and how long you take to repay it.
In Australia, loans up to $2,000 have an establishment fee up to 20% of the loan amount and a monthly fee of up to 4% of the loan amount, with a repayment period ranging from 16 days to 12 months. Loans from $2,001 to $5,000 have a different fee structure, with a maximum $400 establishment fee and an annual interest rate of up to 48% to be paid back over as long as 24 months.
Let’s look at an example to see how this works in action:
Stan wakes up to find his fridge-freezer has broken down. Without an immediate replacement, the food inside will thaw and spoil. He finds a store offering same-day delivery for a new fridge-freezer if he places his order by 1:00 pm – however, a new model will set him back $1,000, money he doesn’t have to hand.
Stan decides to apply for a quick loan. The loan is approved and funded within a couple of hours, allowing him to get his new fridge that day. He then pays back the loan back in instalments. This is how much the loan would cost him in total depending on whether he paid it back over six months or the maximum trm of a year:
| Loan amount | Loan term | Establishment fee | Monthly fee | Fortnightly repayment | Total cost |
| $1,000 | 6 months | $200 | $40 | $111 | $1,440 |
| $1,000 | 12 months | $200 | $40 | $65 | $1,680 |
If Stan chooses the shorter repayment period, he will have higher fortnightly repayments but pay less in total. This option could be ideal if Stan’s budget allows for higher payments, as it would save him money in the long run. However, if his finances are tighter, the larger repayments may put a strain on his cash flow.
On the other hand, if Stan opts for the longer repayment period, he will have smaller, more manageable fortnightly payments, but he will end up paying more overall. This could be a better option if he needs to prioritise affordability in the short term. Ultimately, the best option depends on Stan’s ability to repay the loan comfortably.
Buy now pay later and interest-free furniture finance
A small loan isn’t your only option when it comes to buying furniture and white goods. Many retailers in Australia, including Harvey Norman, JB Hi-Fi and IKEA, also offer flexible finance options at checkout. Often promoted as “pay later” or “interest-free” deals, these can be appealing if you want to spread the cost – but it’s important to understand how they work and what they could end up costing you:
- Buy now, pay later (BNPL): platforms like Afterpay, Zip and humm let you split your furniture purchase into smaller instalments repaid over several weeks or months. You won’t pay interest if you make every repayment on time, but late fees can add up quickly. For example, Afterpay can charge up to 25% of the purchase price or $68 (whichever is lower) in late fees. Though you won’t pay interest if you meet every repayment, late fees can apply. Furthermore, as of June 2025, BNPL providers are also required by law to check your credit when you apply, so if you have a bad credit history, approval may be harder.
- Interest-free credit cards: cards like Latitude GO or humm90 provide long-term interest-free periods (e.g. 12, 36 or 60 months) for purchases above a minimum spend. However, these are not once-off payment plans, but ongoing lines of credit. They usually charge monthly account-keeping fees regardless of your balance, and if you miss a payment or the interest-free term expires, charges will apply. As of June 2025, Latitude charges a $10.95 monthly account fee, a $45 late payment fee and a high interest rate of 29.99% p.a. on any outstanding balance once the interest-free period ends.
Although these options can help you pay for big-ticket items, they are still forms of credit and will be assessed like a regular credit application. This means that if you’ve had credit problems in the past, it may be harder to get approval.
Why apply for a small loan with Savvy?
How to apply for fast furniture finance
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Fill out our quick online application form
Let us know how much you want to borrow, what the funds are for and provide some information about you, your employment and income. It only takes a couple of minutes.
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Connect with a lender
We’ll match you with a suitable small loan provider. From there, you’ll confirm your details and securely share your banking information.
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Get assessed and approved
The lender will review your application and assess your eligibility (which may include a credit check). If approved, they’ll issue you a loan contract to review and accept.
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Receive your funds
Once you sign the contract, your funds can be transferred within the hour – so you can go ahead and buy your furniture without delay.
