Swift Small Loans

Borrow from $300 up to $4,500 with terms up to 52 weeks. High fees and charges apply.

Swift Loans is an online lender specialising in short term cash loans. Swift offers medium term loans from $300 up to $4,500 with terms up to 52 weeks. Applications are online, through Swift’s sister company Oz Cash Loans. The cost of the loan will depend on how much you borrow. This loan is expensive and features high fees and charges. For loans up to $2,000, there is an establishment fee of 20% of the total loan amount, and a monthly fee of 4%. For loans up to $4,500, there is an establishment fee of $400, and interest up to 35% p.a., with a comparison rate of 46% p.a., and a $7 monthly fee. Payday loans are not a long-term financial solution and can lead to further debt. You should only borrow in case of an emergency.


Maximum loan amount

Within 60 minutes

Turnaround time

10 - 52 Weeks

Term of loan

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Product NameSwift Small Loans
Minimum loan amount$300
Maximum loan amount$4,500
Arrears Fee$15
Loan term10 - 52 Weeks
Turnaround timeWithin 60 minutes
Costs20% of the loan amount & 4% monthly service fee.
RequirementsYou must be 18+, be an Australian resident and have a steady job.
Available to Centrelink Borrowers?Yes

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.

How does a loan from Swift Loans work?

Eligible applicants can request short term loans up to $4,500 for repayment terms between 10 - 52 Weeks. Borrowers will be charged an establishment fee and monthly fees. They are required to make regular repayments that will coincide with when they are paid (for example, weekly, fortnightly or monthly) and are direct debited from their account.

If applicants have checked the fees and eligibility criteria, they can apply online in a few minutes. Swift may conduct a credit check and if approved, they may receive their funds within 60 minutes. Before applicants sign their contract, make sure they can afford the regular repayments, fees and check what charges apply if they default on the loan.

Features to compare

  • Fees. For loans up to $4,500, Swift Loans charges a monthly fee of 4% and a one-off 20% establishment fee.
  • Loan amount. Applicants can request to borrow between $300 and $4,500, in increments of $50.
  • Loan term. Borrowers can apply for loan repayment terms of 10 - 52 Weeks. While a longer term will give them more time to pay off their loan amount, they will also pay more in monthly fees overall.
  • Repayments. The repayments coincide with their salary cycle, so the repayment date will fall on the day they get paid. They can expect a reminder via email one day before the automatic debit.
  • Early repayments allowed. They can make additional payments or repay their loan before the end of the loan term without being charged any penalty fees.
  • Bad credit applicants considered. If they have a low credit score or defaults on their credit report, they can still apply as long as they meet the other eligibility criteria and can demonstrate their ability to make payments. If they have defaulted on a small loan in the last 90 days or are currently bankrupt, they won't be approved and shouldn't apply.

Fees and charges

  • Loan establishment fee: 20% of loan amount.
  • Monthly account maintenance fee: 4%.
  • Direct debit fee: $1.10 (for every direct debit).

If customers miss a repayment or default on the loan, they may be charged the following fees:

  • Direct debit dishonour fee: $15 (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

Borrowers can apply for a Swift Loan online but it's important to check if they meet the eligibility criteria before they do:

Eligibility criteria

  • You’re at least 18 years old
  • You’re a permanent Australian resident
  • You have a regular source of income (this can include Centrelink benefits)

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

  • Loan purpose. Applicants can use the drop-down menu to confirm how they are using the loan. Some of the options include home repairs, purchase of appliances, medical bills and wedding expenses.
  • Income details. Confirm their employment status, annual gross income and the frequency of their pay.
  • Finances. Include information regarding expenses including living costs, mortgage repayments and details of any existing debts.

As short term loans can be an expensive type of credit and aren't designed as a long-term financial solution, make sure to compare the options and ensure you can afford to repay it before you apply.

Compare other 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

Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
9-14 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 9-14 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Nimble Short Term Loan
62 days to 9 months
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + loan management fee of up to $399 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
1 to 12 months
24 to 48 hours
Establishment Fee of $18 – $400
A small loan between $300 and $2,000 that can be funded in 24 hours.
Jacaranda Finance Personal Loan
9 to 24 months
Under 1 hour - conditions apply
$0 - $1,000 depending on credit
Borrow up to $10,000 and get access to your funds in as little as 1 hour.

Compare up to 4 providers

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    Default Gravatar
    May 14, 2016

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

      Avatarfinder Customer Care
      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,


    Default Gravatar
    April 25, 2016

    could I apply for a loan today.

      Avatarfinder Customer Care
      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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