The popularity of loans similar to Wallet Wizard, which offer a quick and easy way for Australians to secure necessary funds, continues to grow. While Wallet Wizard and similar loans have their place, it's essential to explore other options, and Savvy is here to assist. Delve into the details of Wallet Wizard and similar loans, comparing them to the ease of applying for a fast loan through us today!
How do loans like Wallet Wizard work?
Wallet Wizard is a lender which offers lines of credit designed to offer fast and flexible funding. The way this works is that you’ll have a credit limit set on your account and will have ongoing access to funds up to this limit, provided you meet the criteria set in place. In the case of Wallet Wizard, this limit maxes out at $8,000, but the actual limit set for you will depend on which lender you use and factors specific to your profile such as your income, employment stability and repayment history.
Once you apply for your loan, you can be approved promptly and gain access to the funds in your account. The amount you borrow can be repaid over a flexible schedule designed to cater your specific needs as a borrower.
What fees will I have to pay with loans like Wallet Wizard?
When it comes to line of credit loans like Wallet Wizard, the main cost to worry about is interest. As of 22 January, 2024, this rate sits at 47.8% p.a. However, while this isn’t always the case, this lender doesn’t charge any annual or service fees, with the only one in place being a $10 late payment fee.
Before you select your loan, it’s important to understand how much it’ll cost you both each month and overall. For instance, taking out a $2,000 line with Wallet Wizard and repaying it in three monthly instalments would result in the total interest paid being $160, but increasing this to $6,000 over 12 months would see your interest increase to $1,668.
What alternatives to loans like Wallet Wizard are available?
If you're seeking an uncomplicated and efficient alternative to loans like Wallet Wizard, think about exploring small loans through Savvy. We work with trusted lenders across the country to provide quick cash loans ranging from $2,050 to $5,000 to people from all walks of life. The online application process is straightforward, and upon submission, you can expect an instant outcome in just 60 seconds.
If conditionally approved, your formal approval may not be far behind, and funds may be disbursed within as little as one hour, depending on your lender and bank's processing times. Take the first step with us today and access the funds you need without unnecessary complexity!
