How Our Short Term Loan Works

Our Simple Five Step Process

Step 1: Check

Step 2: Apply

Step 3: Approve

Step 4: Funds

Step 5: Repay

Step 1 - Check

Loan Requirements:

To qualify for a Save My Bacon short-term loan, you need to meet the following requirements:

Use our online loan calculator to decide exactly how much cash you wish to borrow and how many days you require it for.

You are required to enter how often you are paid, your net pay per pay period, and when your next pay day falls.

You can then select your preferred loan amount ($100-$1000). The maximum preferred loan amount available to you is dependent upon a number of variables, including the total cost of credit (interest and fees), your pay frequency (weekly, fortnightly or monthly), your net pay, and the number of repayments you select. Please note first time applications are limited to borrowing $500 subject to affordability.

Step 2 - Apply

You need to complete and submit our quick and simple online loan application.

Apply now for a Save My Bacon short-term loan through our online loan calculator and you could have cash in your account within 60mins of approval!*

Step 3 - Approve

Once you have completed your application, you will be asked to sign your Loan Documents online. Save My Bacon's trusted technology partner, Secured Signing Ltd uses proven, encrypted SSL technology to ensure the security of your information and protect the integrity of your data. Once electronically signed, a copy of your Loan Documents will be sent to your email account.

If your application is pre-approved, Save My Bacon will then make its own enquiries to verify your application details and financial situation.

Please see our Most Commonly Asked Questions for more information.

Step 4 - Funds

The funds are transferred directly into your bank account. Once your loan is approved Save My Bacon then transfers the money to your bank within 60 minutes of approval (during business hours). Depending on your bank, you could have the cash in hand within minutes after the transfer. Please check our Same Day Payment Guarantee for further information.

Step 5 - Repay

That’s it! The total due will then be deducted from your bank account automatically through a Direct Debit on the repayment date/s. You'll then be welcome to apply again whenever you need an instant cash loan. Please remember to always use our service responsibly.

Please note, if you fail to pay as agreed then your costs will change from our initial calculations. This will occur if you don’t ensure enough funds are available on your agreed repayment date/s, or if you ask us to change your chosen repayment date/s. The Loan Documents clearly identify default fees.

For further details, please see "What happens if I fail to stick to my arrangement?" on our Charges page.

* Some banks do not have systems in place to enable fast cash transfers within 60mins. For a list of participating banks and more information on our cash transfers, please see our Same Day Payment Guarantee section. Same day loans are also subject to you meeting all of our loan requirements and completing the signed Loan Documents. You will need to have contacted your Employer/Payroll Officer and Save My Bacon will also need to have verified your information and have contacted your Employer/Payroll Officer.

The type of credit is not intended to meet your long-term financial needs or to be used for dealing with existing ongoing financial problems.
This loan should only be used to meet short-term cash needs and not be used as a continual source of credit.
If you are concerned that you are falling into a bad debt situation, then please do not apply for a Save My Bacon loan as our loan will only worsen your situation.