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$4,000 Loan – Options for good and bad credit borrowers

You can use a personal loan or payday loan to borrow $4,000.


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Name Product Mobile details underline Interest Rate (p.a.) Comp. Rate (p.a.) Rate Type Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket Personal Loan Fixed, 1 - 7 Years, $2,001 - $75,000
OurMoneyMarket Personal Loan
1 - 7 Years, $2,001 - $75,000
to 20.99%
to 23.83%
1.50% - 6%
min. $250
You'll receive a fixed rate from 5.65% p.a. to 20.99% p.a. based on your risk profile.
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

Finder Exclusive: Apply before 30th of June 2022 to secure a 0.20% p.a. discount for the full term of your loan.
Harmoney Unsecured Personal Loan Fixed, 3 - 7 Years, $2,000 - $70,000
Harmoney Unsecured Personal Loan
3 - 7 Years, $2,000 - $70,000
to 19.09%
to 19.99%
$275 - $575
You'll receive a fixed rate between 5.35% p.a. and 19.09% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3, 5 or 7 years terms.

Compare up to 4 providers

What loan types of $4,000 loans are available?

  • Short term loans

While most short term lenders only offer small loans up to $2,000 there are a number of lenders on the market offering "medium loans" of up to $4,000 or higher. Lenders have been increasing their maximum loan amounts in accordance with demand, so customers looking for a $4,000 loan short term loan have more options now than previously. Loans up to $4,000 from short term lenders operate under an ASIC cap, so successful applicants won't be charged more than a $400 establishment fee and a 48% p.a. rate that includes all other fees and charges if repayments are made on time. Loan terms generally vary between 16 days and two years.

  • Unsecured personal loans

Customers will be able to take advantage of longer loan terms with an unsecured personal loan from a bank or similar lender, as well as lower interest rates. Most unsecured personal loans come with rates between 8-17% p.a. and have terms of one to seven years.

  • Secured personal loans

If someone opts for a secured personal loan, they will be able to take advantage of lower rates, usually between 4-12% p.a. Terms and fees are normally the same as unsecured personal loans.

  • Overdraft or line of credit

These types of loans let customers withdraw up to and including a limit, with the overdraft being attached to the borrower's transaction account while the line of credit comes as a separate account. For both, customers only repay what they borrow and as long as they meet the minimum repayments, the account remains in good standing. Overdraft funds can only be accessed when someone's transaction account goes into the negative, but a line of credit can be accessed whenever someone needs it.

Are you struggling financially?

If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support.

⚠️ Warning about Borrowing

payday-warningDo you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

Compare $4,000 loans for bad credit borrowers

Swoosh Finance

Swoosh Finance


47 %p.a.

variable rate


66.03 %p.a.

comparison rate

  • Borrow up to $4,584
  • Loan term up to 1 years
  • Instant online decision
Security Logo

100% confidential application

Swoosh Finance

Swoosh Finance offer fast, reliable, and hassle-free secured loans up to $4,584 for when you are in need of money.

  • Loan amount: $4,584
  • Loan term: 60 days -12 months
  • Turnaround time: Next business day
  • Fees: $416 + 47% p.a. of borrowed amount
Go to site
1 - 3 of 3
Name Product Maximum loan amount Term of Loan Turnaround time Costs Fortnightly Repayment (for $5000 Loan)
Swoosh Finance
60 days -12 months
Next business day
$416 + 47% p.a. of borrowed amount
A secured loan up to $4,584 you can apply for in 10 minutes. Have up to 1 years to repay what you borrow.
Jacaranda Finance Personal Loan
9 to 24 months
Under 1 hour - conditions apply
$249 - $990 depending on credit
Borrow up to $15,000 and get access to your funds in as little as 1 hour.
Nimble Medium Size Loan
62 days to 48 months
1 hour - conditions apply*
Application fee of $400 + 47.62% p.a. for $2,050 to $5,000
A larger loan up to $25,000 you can apply for even with bad credit. Your loan can be funded within 1 hour.

Compare up to 4 providers

What to consider when comparing $4,000 loans

Once someone has decided on the best type of loan that will suit their needs, the next step for them should be comparing their loan options from different lenders. Here are some things to keep in mind when comparing:

  • What is the interest rate going to be?

    Interest rates can vary considerably even with the same kind of loans, and this is especially true of bad credit loans. An advertised interest rate can be a good indication of how competitive a loan is, so it is an important aspect to take interest rates into account. Please also be aware that interest rates are usually personalised to the borrower depending on their circumstances, so prospective applicants should also account for their credit rating when considering their potential interest rate offering.

  • What fees and charges are in the contract?

    When someone takes on a $4,000 loan, they will always end up paying back more than that and the interest it attracts. This is because of the fees and charges that loan customers have to repay over the course of the loan. These can include application fees, establishment fees, monthly service fees, and settlement fees. If someone misses any of their repayments, they can also expect to pay late payment penalties.

  • What kind of repayment options are available?

    Many lenders allow customers to choose between making weekly, fortnightly, and monthly repayments so they're able to schedule their repayments according to when they get paid. Some lenders allow customers to make extra repayments without charging any penalties, and some allow customers to pay the entire balance ahead of time without penalising them in any form (this can be a good way of saving money over the life of the loan, if it's possible to do). In some cases, loan customers might have to pay a fee for early or extra repayments, so they ought to check all the charges that apply before doing so.

  • Can the borrower get access to redrawing funds?

    If a lender allows someone to make extra repayments on their loan, they should find out if they can access these funds through a redraw facility. This facility, if available, may attract a fee and come with set withdrawal limits.

How to increase the chances of being approved

While there is no telling for certain if a lender will approve an application or not, a little caution on the part of the borrower can increase the possibility of a successful application. Applicants should ensure the following before submitting an application:

  • Check the eligibility criteria

Customers can check the minimum eligibility criteria for any loan by looking at the review page of that particular lender on finder.com.au. Applicants will usually need to be over the age of 18 and receiving an income, but certain lenders may also require them to have good credit or to be employed (that is, not receiving Centrelink income).

  • Check their credit file

Errors can creep into a person's credit file and it may affect the sort of finance that they are able to qualify for. It can help for applicants to go through their credit file before applying for any type of credit by ordering a free copy online. People can correct mistakes where found, but they cannot change accurate listings. If someone finds negative listings, they need to take these into account before applying for a loan.

  • Limit their applications

A person's credit file will show just how often that they apply for credit, and if they apply for credit often, prospective lenders may view this in a negative light. Prospective applicants should compare their options well before they apply and keep their applications to a minimum.

Is there anything to consider?

People who wish to apply for loans should think about how they'll go about making their repayments before they apply for a $4,000 loan. When they don't make timely repayments their credit file can be adversely affected, and they'll also have to deal with late payment charges. Besides, the longer someone takes to repay a loan, the more they will have to pay in the form of interest.

A simple way of establishing what someone's repayments will look like is to use a loan repayment calculator. Applicants should start by identifying whether they want to make weekly, fortnightly, or monthly repayments, and then enter details such as the loan amount, loan term, and interest rate.

Calculate repayments on a $4,000 loan

The pros and cons of applying for a $4,000 loan:


  • They offer varied loan terms.
    With loan terms varying between 16 days and seven years, applicants can opt for one as per their financial needs and situation.
  • Apply online with ease.
    The online presence of most lenders helps simplify the entire process of submitting an application. Customers can apply online and keep track of their loan repayment schedule online, as well.
  • Bad credit applications considered. For medium loans like $4,000 loans, having bad credit is not a deal breaker for many lenders. Due to the smaller size of these loans, there are a number of lenders who are willing to lend to bad credit applicants.


  • Steep costs.
    Certain loan types, like bad credit loans, attract higher interest rates, so think twice before applying for such a loan. Unsecured loans also traditionally charge higher interest rates when compared to their secured counterparts.
  • Higher repayments.
    When you combine higher interest rates with shorter loan terms, the result is increased repayments. Prospective applicants should consider whether or not these repayments will be affordable before they take the loan on.
  • Dubious lending.
    The number of online lenders in Australia is on the rise, and this field is not devoid of its share of disreputable lenders. Certain lenders may exploit people with poor creditworthiness through exorbitant fees and rates, so loan customers should ensure that any loan that they take on is competitive and that the lender holds a reputable place in the market.

What to avoid with $4,000 loans

Taking on any kind of a loan can come with its share of pitfalls, so it’s best to avoid the following:

  • Applicants should be never apply for a loan that they can’t repay. They should ensure that you have a plan in place when it comes to making repayments.
  • Loan customers should avoid taking out a bad credit loan if they have access to other loan options. High fees and inflexibility are two reasons ASIC cites when warning borrowers against such loans.
  • Applicants should avoid taking the first loan that comes their way. They should remember to compare their options to ensure that they only take on a loan that is the best for them, and that it is the most competitive loan possible for their circumstances.

Questions prospective applicants might have about $4,000 loans

How do I go about applying for a $4,000 loan?

To apply for a $4,000 loan, prospective applicants can start by comparing their options on this page. Once they find a loan they want to apply for, they can click the ‘Go to Site’ button to find out more about applying from the lender or to fill out an application form.

What options do I have when it comes to repayment methods?

In some instances, customers will have to set up direct debits via their salary or a bank account. Other repayment methods offered by some lenders include making payments via online funds transfer, Australia Post, BPAY, and via cheque.

Do such loans offer loan protection insurance?

Certain personal loans give customers the choice of getting loan protection insurance as an optional extra.

Can unemployed individuals get $4,000 loans?

Lenders look for some form of guarantee that their customers will be able to repay the loan, and unemployed applicants don't have employment to offer as this guarantee. However, some lenders will consider customers if they still receive an income.

Picture: Shutterstock

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    2 Responses

    1. Default Gravatar
      stormJune 19, 2015

      Can I make a loan of 4000 dollars

      • Avatarfinder Customer Care
        MattJune 22, 2015Staff

        Hi Storm,

        Thanks for your comment, but you’ve left it on finder.com.au – an online comparison service, not a lender.

        If you’d like to compare loan options, use the table above and then when you’ve found a lender, click through to their site with the green button.

        I hope this helps you.


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