Viva Loans


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Short Term Loans In Australia

Do Viva Payday Loans Offer Short Term Loans?

Get a quick estimate for loan
How much cash?


How long for?
Your Loan Summary
Borrowing:
$300
*APR:
728.9%*
Interest:
$7.72
Repayment by:
23.1.2014
In your account by: 10:28pm
Total to repay:
$107.72
*Warning: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different rate.

Short Term Loans: What are they?

“Short Term Loans” are defined in the NCCP as being for 15 days or less and no licensed credit provider in Australia can offer these to consumers.

Viva Payday Loans provide services for Small Amount Credit Contract loans, for 16 days up to 1 year.

Small Amount Credit Contract Cash Loans vs Bank Loans

SACC Loans Bank Loans
Loan Amount Up to $2,000 Varies but usually more than $2,000
Loan Term Up to 1 year (can vary) Varies but usually longer than 1 year
Interest Rates No interest but credit charges of 20% establishment fee and 4 % monthly fee will produce a much higher comparison interest rate than 48% per annum. Cannot be higher than 48% per annum
Regulator ASIC ASIC, RBA, APRA
Eligibility Criteria More flexible than banks Stringent, difficult to be eligible
Collateral/Securities Not required Often Required
Availability Quicker than banks, often the same or next business day Takes weeks for the funds to be available

Common Situations that People Need SACC Loans In

There are many situations that short term loans are ‘tailor made’ for. Some of these have been listed below:

Things to Keep in Mind before applying for a SACC loan

SACC loans are best treated as temporary solutions as well as reminders to make enough provisions to avoid having to confront similar situations again.

Payday loans

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