Swift Small Loans Review

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Do you want a simple online loan? Apply with Swift Loans and secure a lower-than-normal payday loan interest rate.

You can use the proceeds from a Swift Loans short-term loan for just about any worthwhile purpose. Swift Loans is an online lender specialising in fast cash loans, so while the processing of applications is quick, upon approval you can also expect quick access to your funds.


Maximum loan amount

Within 60 minutes

Turnaround time

10 - 52 Weeks

Term of loan

How does a loan from Swift Loans work?

You begin by submitting an online application, and this process doesn’t take much time. If you meet the required eligibility criteria Swift Loans goes on to verify your income details by referring to your bank transactions for the last three months. Upon approval, make sure you check that all the details are correct.

If you find the terms and conditions satisfactory you have to confirm that you want the loan. Once you do this, you can expect Swift Loans to transfer the funds to the nominated bank account within one hour. Just how long it takes for the money to get to you can vary depending on the financial institution you bank with.

Repayments come in the form of direct debits, so you don’t have to keep track of your repayment dates.

Comparison of Payday Loans

Whilst we don't compare loans from Swift directly, use the table below to see how they compare against other short term loans

Updated October 17th, 2019
Name Product Maximum Loan Amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
62 days to 9 months
1 hour - conditions apply
10% of loan amount + 2% of loan amount each month
Finder Exclusive: 50% discount on the establishment fee (now 10% of the loan amount) and monthly fee (now 2% of the loan amount)
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
9-12 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-12 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Up to 2 years
3 hours - conditions apply
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
3-12 months
1 business day
Establishment fee from 10% of loan amount + monthly fee from 2%
A small loan between $500 and $2,000 that can be funded in 24 hours.
3 to 12 months
1 business day
10% of loan amount + 2% of loan amount each month
A small loan up to $2,000 from a lender backed by NAB. Transparent eligibility criteria and competitive costs.

Compare up to 4 providers

Features to know about

  • Interest. As most payday lenders who offer loans up to $2,000 will charge you the maximum they are able to by the Government – a 20% establishment fee and 4% monthly fee. Swift Loans also charges you the same 4% per month and a 20% establishment fee.
  • Loan amount. You can borrow any amount in between $200 and $2,000, in increments of $50.
  • Loan term. These short-term personal loans come with 10 - 52 Weeks.
  • Repayment flexibility. Your repayments coincide with your salary cycle, so the repayment date will fall on the day you get paid. You can even expect a reminder email one day before the auto debit.
  • No early repayment penalty. You can make as many additional payments as you like, at any time, and you don’t have to pay any penalties. Early terminations of contracts don’t attract penalties either.
  • Defaulters can apply. If you have some defaults in your file you can still apply for a short-term loan from Swift Loans, as long as you have the ability to repay. Swift Loans will decline your application if you’ve defaulted on a small amount loan in the last 90 days or if you’re bankrupt.
  • Quicker processing for subsequent loans. After you repay your loan completely you become a Swift VIP member, and by accessing the private member's area you can apply for a subsequent loan faster. Upon approval, you can expect access to funds sooner as well.

Fees and charges

Fees you will have to pay

  • Loan establishment fee: 20% of loan amount
  • Monthly account maintenance fee: 4%
  • Direct debit set-up fee: $2.20 (one-time)
  • Direct debit fee: $1.10 (for every direct debit)

Fees you might have to pay

  • Direct debit dishonour fee: $14.50 (for each instance)
  • Follow-up phone call for missed payment: $7.00 (for every such call)
  • Follow-up SMS text for missed payment: $7.00 (for every such text)
  • Follow-up email for missed payment: $7.00 (for every such email)
  • Follow-up letter for missed payment: $7.00 (for every such letter)
  • Debt recovery: If your account goes into debt recovery, you have to pay all costs associated with recovery of the debt.

How to apply for a personal loan from Swift Loans

Applying for a Swift Loans personal loan is rather straightforward and the process takes no more than a few minutes. To apply now, simply click on the ‘Go to Site’ button. Before applying, ensure that you meet the following eligibility criteria.

  • You’re at least 18 years old
  • You’re a permanent Australian resident
  • You have a regular source of income

The application requires you to part with certain information to check if you qualify, so prepare to provide the following.

  • Loan purpose. Choose from a drop-down menu with options like home repairs, purchase of appliances, medical bills, wedding expenses, and so on.
  • Income details. This section requires details of how much you get paid and how often. Provide your next pay date as well.
  • Spending details. These include rental or home loan repayments, living expenses, and details about existing debts.

If you need money in a hurry, applying for a Swift Loans short-term loan can help, but since you have other options, make sure take some time to compare a few.

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  1. Default Gravatar
    May 14, 2016

    Hi is there a way I can track my application to see how its progressing

    • AvatarStaff
      May 16, 2016

      Hi Ktisty,

      You can check the VIP Member area on the Swift Loans website for updates and additional information. However, you will be sent direct information via email and over the phone.

      Hope this has helped,


  2. Default Gravatar
    April 25, 2016

    could I apply for a loan today.

    • AvatarStaff
      April 26, 2016

      Hi Reginald,

      You’re able to apply if you meet the eligibility criteria outlined above. To submit your application, just head over to the Swift Loans website.

      Hope this has helped,


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