Short Term Personal Loans
Need money fast? Don’t stress. Apply online and get approved.
- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
- 100% online
Fact checked
Fact checked
Small, fast loans approved online
Small loans, usually between $2,050 and $5,000, are a source of finance to help you smooth over cash flow shortfalls. We can help you secure a small term loan – with flexible terms from as little as a couple of weeks up to a year – using our simple and secure online application system. Our consultants are specialists in getting your loan to you in as little time as possible. This means your much-needed funding is accessible to you quickly.
Pay your emergency expenses
Bills, bonds or moving expenses, car repairs, school fees or excursions, sporting fees, emergency purchases, cash flow gaps and general unexpected expenses. Short term loans can help you when other types of credit aren’t available or accepted. Short term loans are a convenient alternative to other types of finance that require lots of documentation and have long waiting periods. Get funds fast by applying online.
Why apply for a small loan with Savvy?
Apply online, 24/7
No matter the time of day or week, you can complete your small loan application with us online.
Instant outcomes and same-day money
You can receive an outcome in 60 seconds and, if successful, have your money sent in just one hour.
Trusted lender panel
We're partnered with reputable Australian lenders to bring you greater peace of mind when applying for your small loan.
How to navigate your short term loan application
Do You Need a Short Term Loan?
This is the first question to ask is whether a short term loan is right for you. Urgent needs might be unexpected travel expenses, unexpected bills, medical expenses, or out-of-the-blue bonds.
Are You Eligible?
All applicants must be over the age of 18, be an Australian citizen or permanent resident, received income in the last 90 days from any source, and have an active email address and mobile phone number. If you tick all those boxes, you can apply.
Choose Your Amount and Terms
How much do you need to cover your short fall? This is the first question the online form or your consultant will ask. You can also choose a term length from a couple of weeks to a year. Remember: longer terms mean paying more back in interest.
Apply Online
Apply online using our secure application system. Want to talk to a consultant? Call us and we’ll help you through the process.
Get Your Funds
In some cases, we will call, email, or text you to gain more information to help get approval. Once approved, await transfer of the funds into your account within the day – or sooner. Conditions may apply.
Find out more about short term loans
Get to know more about short term loans
What is good debt? What is bad debt?
Not all debt is bad, despite what some people say. Getting in to debt for the right reason can actually help you in the long-term. The difference between good and bad debts is that good debts help you accumulate value over time, while bad debts are like throwing money away. A good debt may be buying a home or a car. A car may depreciate, but you can use the car to get you to work and seize other opportunities. Bad debt is putting meals or nights out on a credit card. You’re paying interest for no reason other than “to have it.” If you need to go into debt, make sure it’s for a “good” debt.
Why short-term loans are for short term fixes
Though individuals aren’t businesses, they can get into the same trouble as businesses short on cash flow. Businesses run into cash flow problems because they spend long-term loans on short-term fixes and vice versa. Short term loans should be spent on short-term fixes – urgent bill payments, surprise expenditures, medical treatments, etc. Though the fees and interest may be high, you will pay less overall than if you took out a major loan. Major loans should be reserved for big, long-term purchases like cars or houses – the good debt as described above.. Make sure your loan is fit for the purpose before applying.
Getting your credit report
To know where you stand with banks and lenders, you should get a copy of your credit report. Individuals are entitled to a free credit report each year from the major credit reporting agencies. Your credit report lists your last seven years of credit applications and defaults. Defaults are failures to pay a bill or loan repayment after 60 days. You should always check your credit report regularly to fix any mistakes – this is up to you to fix! A credit report will show you what the banks or lenders see before they do a check; it could help you with your application for credit so you know where you stand.
Is a short-term loan better than credit cards?
A credit card is a convenient and handy way to pay urgent bills – but is it a good idea to use it for urgent and sudden expenses? First off, “maxing” out your credit card hampers your ability to cover smaller expenses if they occur. It also means you’ll be paying back more in interest over time if you only pay back the minimum each month (around 2% of the balance). A short-term loan means your interest and fees are fixed to the term of the loan. You won’t be paying back more interest as time goes on. You make set repayments which clears the debt in full.
Small loans to suit your circumstances
Helpful small loan guides
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.
