Swoosh Finance Personal Loan

Information verified correct on December 10th, 2016

Swoosh Finance provide loans with terms up to 12 months for a longer term solution to your financial shortfalls.

When you’re in need of quick financing you may think your only loan options have short repayment terms, where your entire loan amount is repaid within a couple of weeks. Swoosh Finance offers an alternative solution where you can apply for between $400 and $5,000, and if you’re approved you’ll have up to 12 months to repay your loan.

Product NameSwoosh Finance
Min Loan Amount$400
Max. Loan Amount$5,000
Initial Maximum Loan Amount$2,000
Loan Term1-12 months
Arrears Fee$25
Turnaround TimeNext Business Day
Total Cost of Borrowing $10020% of borrowed amount + 4% of borrowed amount each month
RequirementsYou must be 18+, been employed for at least 3 months and be a Permanent Australian Resident
Available to Centrelink borrowersNo

How does borrowing from Swoosh Finance work?

After you apply for a loan from Swoosh Finance, which you can do online, you may receive conditional approval. You will then need to submit additional documents which Swoosh Finance will use to approve you. Once you're approved your money will be transferred to your account, usually within one hour.

Swoosh Finance offers terms of 12 months with repayments tailored to your financial situation. Your repayments are automatically direct debited from your account according to your loan schedule.

Features of a Personal Loan from Swoosh Finance

Swoosh Finance offers various features with its loans, including:

  • Easy application.
    You can apply online or over the phone and won’t be required to fax over any documentation.
  • Fast turnaround time.
    Swoosh Finance can usually have your loan approved and sent to you on the same day, sometimes within the hour. This depends on when you apply, as applications made on weekends, public holidays or later in the day will see your loan processed on the following business day.
  • Automatic repayments.
    You won’t have to remember to make your own repayments as these will be direct debited from your account on the agreed upon dates.
  • Longer repayment period.
    Swoosh Finance offers terms up to 12 months on its loans, which is considerably longer than many other payday lenders.

How much will the loan cost?

Understanding the cost of any financial product, both what you will pay in fees and interest and what you might pay if you are late with your repayments, is important. The fees for this loan are as follows:

What you will pay:

  • Establishment fee that is 20% of the loan amount
  • Monthly fee that is 4% of the loan amount

What you might pay:

  • Direct debit dishonour fee of $25
  • Default notice/letter fee of $10

Ready to apply? Here’s how.

You can apply for a loan by submitting your application online or over the phone. In order to be eligible for a loan you need to:

  • Have an active mobile phone number and email address
  • Have a driver’s licence number or Medicare card number
  • Be permanently employed and have been in your job for at least three months
  • If you receive Centrelink payments, your debts cannot be more than 20% of your Centrelink income. Centrelink applicants will only be eligible for up to $1,200
  • You can apply if you have bad credit, are currently bankrupt or in a Part 9 Debt Agreement.

You’ll also need the following details to complete your application:

  • Name and date of birth
  • Address, email address and mobile number
  • Details of your employer or the Centrelink payments you receive
  • Your driver’s licence or Medicare card number
  • Information regarding your income and expenses
  • Your bank account details

If you’re interested in a loan up to $5,000 where you’ll have a little longer to repay, Swoosh Finance is an option for you to consider.

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40 Responses to Swoosh Finance Personal Loan

  1. Default Gravatar
    David | December 1, 2016

    I have a full time job I don’t receive payslips! Can you still get a small personal loan ? It shows my pay going in on weekly basis!

    • Staff
      Harold | December 1, 2016

      Hello David,

      Thank you for your inquiry.

      There are providers who offers 3-60 months term deposit. You may want to consider this options.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    Iotua | November 11, 2016

    I already have a loan through swoosh. Just inquiring, would I be able to get another loan?

    • Staff
      Harold | November 11, 2016

      Hello Moetaua

      Thanks for your question.

      Our company, finder.com.au is a comparison website and general information service. We are designed to help consumers to make a better decisions and we don’t actually represent any other company. With regards to your concern, you may need to contact the provider directly to inquire what are the possible circumstances based on your current loan status. Additionally.please note that your eligibility will depend on the information your personal financial situation.

      I hope this has helped.

      Cheers,
      Harold

  3. Default Gravatar
    edwin | November 7, 2016

    How do apply

    • Staff
      Anndy | November 7, 2016

      Hi Edwin,

      Thanks for your question.

      You can apply for Swoosh Finance Personal Loan through their website.

      You may also want to consider other personal loans on this page.

      Cheers,
      Anndy

  4. Default Gravatar
    | November 3, 2016

    If i apply for the loan, how many days will it be to be approved?

    • Staff
      Anndy | November 3, 2016

      Hi Lilian,

      Thanks for your question

      Normally, Swoosh will be able to provide a sameday loan approval. However, if you are unable to provide all the information they need and the supporting documentation, assessment of your loan application may be longer.

      Cheers,
      Anndy

  5. Default Gravatar
    lillian | November 3, 2016

    hi swoosh finance do you allowed person in student visa to have a loan for 2000?

    • Staff
      Harold | November 3, 2016

      Hello Lillian,

      Thanks for your question.

      Your eligibility will depend on the information of your personal financial situation. But basically these are the basic requirements (please see list below).

      In order to be eligible for a loan you need to:
      - Have an active mobile phone number and email address
      - Have a driver’s licence number or Medicare card number
      - Be permanently employed and have been in your job for at least three months
      - If you receive Centrelink payments, your debts cannot be more than 20% of your Centrelink income. Centrelink applicants will only be eligible for up to $1,200
      - You can apply if you have bad credit, are currently bankrupt or in a Part 9 Debt Agreement.

      To complete your application you will also need the following:
      - Name and date of birth
      - Address, email address and mobile number
      - Details of your employer or the Centrelink payments you receive
      - Your driver’s licence or Medicare card number
      - Information regarding your income and expenses
      - Your bank account details

      I hope that helps.

      Cheers,
      Harold

  6. Default Gravatar
    Jeremy | October 24, 2016

    Good afternoon. Just making an inquiry about your 12 month $5000 personal loan. I’m wondering if it can be used to refinance(pay out some existing bills)I’d like to payout 2 micro lenders and some new utility bills and swap for 1 weekly payment with swoosh

    • Staff
      Elizabeth | October 24, 2016

      Hi Jeremy,

      Swoosh will consider you for a loan if you currently hold loans with other providers. However, your eligibility will come down to your ability to afford the loan.

      Hope this information helps,

      Elizabeth

  7. Default Gravatar
    adriana | October 14, 2016

    Hi I’ve nearly finished paying my loan and want to apply for another do I have to provide my drivers licence and medicare number again or what

    • Staff
      Elizabeth | October 14, 2016

      Hi Adriana,

      Yes, you’ll need to provide your ID docs again and complete the application form as normal.

      Hope this helps,

      Elizabeth

  8. Default Gravatar
    Ian | October 7, 2016

    Can I make repayments monthly as I get paid monthly

    • Staff
      Anndy | October 7, 2016

      Hi Ian,

      Thanks for your question.
      With Swoosh loan, the repayments are scheduled to align with your current pay frequency.

      Cheers,
      Anndy

  9. Default Gravatar
    louiese | October 4, 2016

    Hello, can you pay your loan out early if you with to do so?

    • Staff
      Elizabeth | October 4, 2016

      Hi Louiese,

      Thanks for your question.

      There are no fees for early repayment listed on Swoosh Finance’s website, but you may want to confirm with Swoosh itself if you’re able to repay early.

      Thanks,

      Elizabeth

  10. Default Gravatar
    adriana | October 2, 2016

    Hi can I get another loan while still paying off a loan if yes how do I do it

    • Staff
      Elizabeth | October 4, 2016

      Hi Adriana,

      You may be eligible for a Swoosh loan, it will depend on the information your personal financial situation. If you can show you’ll be able to afford the new loan you can apply.

      Hope this helps,

      Elizabeth

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