Safe Financial Small Loan

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Borrow up to $5,000 and get your funds the same day.

If you need quick access to finance, Safe Financial offers short term loans that can be approved and funded on the same day. You can apply online or via phone and the loans are available to those with bad credit history. See if it's right for you below

$5,000

Maximum loan amount

Same day

Turnaround time

conditions apply

$396

Fortnightly repayment
for $1,500 loan

22 - 52 weeks

Term of loan

Details

Product NameSafe Financial Small Loan
Minimum Loan Amount$1,000
Maximum Loan Amount$5,000
Arrears Fee$35
Loan Term22 - 52 weeks
Turnaround timeSame day - conditions apply
CostsUp to 2K - 20% establishment fee + 4% monthly. Above 2K - $400 + from 8.7% to 48% APR
Available to Centrelink Borrowers?No

Main points to consider about the Safe Financial Small Loan

You can borrow from $1,000 to $5,000, and you can pay off the loan early without penalty. You will need to be employed and have a minimum weekly income of at least $500. You can still apply if you're currently receiving Centrelink, but you will also need to have another source of income.

If you borrow up to $2,000, you do not pay interest, but you will pay an establishment fee and an ongoing monthly fee, which will vary based on the size of your loan. Your loan term will also vary based on how much you borrow, with a term between 22 and 31 weeks for loans of $1,000, between 31 and 40 weeks for $1,500 loans and a term of 44 to 52 weeks for loans of $2,000.

For loans between $2,000 and $5,000, you will pay an establishment fee and management fee, and you will get an interest rate starting at 8.7%, with a comparison rate of 66.25%. Loans between $2,000 and $5,000 also have a set term of 40 weeks.

Features of the Safe Financial Small Loan

  • Loan amounts. You can borrow from $1,000 to $5,000.
  • Flexible loan terms. The length of your loan will vary based on how much you borrow, with a minimum term of 22 weeks up to 52 weeks for loans between $1,000 and $2,000. For loans over $2,000, you will have a set 40-week term.
  • Early repayment option. You can repay the loan early without penalty.
  • Fast application. You can apply online or via phone.
  • Same day funding. You can be approved within hours and then receive your money on the same day.

Fees and charges

You will pay different fees and charges depending on the size of your loan:

$1,000 loan. You will need to pay a $200 establishment fee and a $40 monthly fee.

$1,500 loan. You will need to pay a $300 establishment fee and a $60 monthly fee.

$2,000 loan. You will need to pay a $400 establishment fee and an $80 monthly fee.

$2,001-$5,000 loan. You will need to pay a $400 establishment fee and a loan management fee of up to $399. You will also pay interest at a rate from 8.7% with an APR of up to 48%.

You may also need to pay additional fees including late payment fees.

How to apply

You can begin your application by clicking "Go to site" above. You will need to meet the following criteria to be eligible for a loan:

  • Be at least 18 years old
  • Be an Australian citizen or permanent resident
  • Have a minimum weekly income of $500
  • Not have Centrelink as your only source of income

You will also need to provide the following as part of your application:

  • Your bank details and phone number
  • 100 points of ID
  • Read-only copy of your transaction history

A Safe Financial Small Loan can get you fast access to up to $5,000, with no early repayment penalty. As with any short term loan product, you should compare a range of options and make sure the loan is right for your circumstance before applying.

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