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 Name||Swoosh Finance|
|Min Loan Amount||$400|
|Max. Loan Amount||$5,000|
|Initial Maximum Loan Amount||$2,000|
|Loan Term||1-12 months|
|Turnaround Time||Next Business Day|
|Total Cost of Borrowing $100||20% of borrowed amount + 4% of borrowed amount each month|
|Requirements||You must be 18+, been employed for at least 3 months and be a Permanent Australian Resident|
|Available to Centrelink borrowers||No|
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.