Written by Need money now? Life isn’t always smooth sailing, so when you hit choppy waters with your finances and unexpected bills pop up, Savvy can lend a hand. We help by connecting you with an Australian lender who can provide the cash boost you need.
Whether you need some urgent repairs around the house or to get your car back on the road, you can use a fast and easy cash loan for just about anything. Through Savvy, you’ll be matched with a reputable lender suited to your profile and receive an instant outcome in 60 seconds and cash as soon as the same day. Apply with Savvy today to get started!
How can I get money when I need it now in Australia?
One of the fastest and easiest ways to access the cash you need in Australia is by applying for a small loan through Savvy. These loans are designed to be flexible and available to a wide range of people, with amounts up to $5,000 able to be borrowed and repaid over as many as two years.
When it comes to getting your loan through Savvy, our online application process is straightforward, offering instant outcomes from our marketplace of trusted lenders and, in many cases, the money you need as soon as the same day you’re approved.
Once you’re offered formal approval on a quick cash advance, your lender will send your loan contract across for you to sign. Once these have been signed and returned, your funds will be released to your nominated bank account and you can use them to cover your urgent costs.
How quickly can I receive my cash loan funds?
When you apply with Savvy, you’ll receive an instant outcome in just 60 seconds. If approved, your application can be formally assessed, approved and funded as soon as the same day you apply.
However, whether you receive these funds on the same day will depend on several factors. These include:
- The time of day or week: applying earlier in the day and week will improve your chances of getting a same-day payout. Lenders in Australia don’t approve and fund applications outside of business hours, so getting your application in early will help prevent it from becoming a multi-day process.
- The complexity of your profile: lenders may take more time to assess profiles that present more risk. For example, if you’ve defaulted on a similar loan in the last few years but are in a better place financially now, your lender will want to be extra careful to ensure you’re in a position to take on a new loan.
- The speed of your bank: bank transfer speeds vary depending on who you bank with. Most banks take a few hours to process payments, which is faster during business hours and slower overnight and on weekends. Usually, if your funds are released before the end of business during the week, they should be accessible in your bank account that day.
- Your lender’s internal processes: it may simply come down to how quickly your lender is able to assess your application. Different lenders have different processes in place, while the number of applications on their plates at the time may also mean yours takes longer to formally assess.
What information do I need to provide to get money now?
You’ll need to share some details and documents with your lender, which can be done securely online. The initial Savvy application form will require you to fill out the following information:
Personal details |
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Contact details |
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Employment details |
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Income |
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If your initial application is conditionally approved, your lender will proceed and conduct checks of your finances and credit file before ultimately deciding whether to formally approve you. You’ll also need to provide some documentation, which we'll get into in a little while.
How long can I take to repay my loan?
You can take up to two years to pay back your loan, depending on how much money you borrow. The length of time you take to repay your loan correlates directly to the value of your repayments and how much you pay in fees.
When you take out a quick loan, you’ll get some flexible options on how long you need to repay it. You can take as few as 16 days up to a maximum of two years to pay off your loan debt.
Loans come with some fixed fees, namely an establishment fee and rolling monthly fees. Choosing a shorter term means you’ll pay less in monthly fees over the life of your loan. Monthly fees are capped at 48% over 12 months. For example, if you took out a $5,000 loan over 18 months instead of 24, you would save $1,200 overall in monthly fees.
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.
Cash loan eligibility and information
Common cash loan questions answered
You can apply for a fast loan around-the-clock; however, lenders won’t be able to approve or fund you outside of standard business hours. If you apply with Savvy, we can help connect you to a lender who offers weekend payouts if you need an emergency loan on a Saturday or Sunday.
Yes – you can get a quick loan even with a bad credit score. Lenders don’t tend to concentrate on your score when they check your credit history, preferring to review your broader borrowing track record and current ability to repay your loan. This allows them to look at factors such as your repayment history and how often you’ve applied for new credit.
Yes – you can get a loan if you’re currently out of work, as long as you can afford the repayments. You’ll be able to factor other forms of income towards your loan, including ongoing Centrelink benefits such as aged and disability pension.
Yes – you can apply with us if you’ve been knocked back elsewhere. However, it’s a good idea to keep applications to a minimum wherever you can, as too many loan requests in a short period can impact your credit score and make it harder to get approval down the track.
Certain visas can be accepted by cash loan providers. You’ll need to ensure your visa ends after your cash loan term, as well as meet all your lender’s criteria, to be approved.
Small loans to suit your circumstances
Cash loan cost table
| Small (SACC) loans | Medium (MACC) loans | |
|---|---|---|
| Minimum loan amount | $100 | $2,001 |
| Maximum loan amount | $2,000 | $5,000 |
| Minimum loan term | 16 days | 16 days |
| Maximum loan term | 12 months | 24 months |
| Repayment schedule | Weekly, fortnightly or monthly | Weekly, fortnightly or monthly |
| Establishment fee | Up to 20% of your loan amount | Up to $400 |
| Interest | N/A | Up to 48.00% p.a. |
| Monthly fee | Up to 4% of your loan amount | Included in the 48.00% p.a. maximum |
| Example loan | $1,500 loan over six months repaid fortnightly
Costs: $1,500 (loan amount) + $300 (establishment fee) + $360 (4% fees over six months) Total cost: $2,160, repayable in instalments of $167 per fortnight | $3,000 loan over 12 months repaid fortnightly
Costs: $3,000 (loan amount) + $400 (establishment fee) + $912 (total interest over 12 months) Total costs: $4,312, repayable in instalments of $166 per fortnight |
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.
