Swoosh Finance

This loan has fast online applications and quick turnarounds, but comes with high fees and interest rates.

Swoosh Finance offers an alternative, longer credit solution to standard short term loans. You can borrow between $2,000 and $4,584 and receive repayment terms from 60 days to 1 year. The loan features an establishment fee of $416 and interest rates of 47% p.a. The application should take less than five minutes and you can expect a response in 60 seconds, with another 24 to 48 hours to receive the funds.

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Maximum loan amount

Next business day

Turnaround time

60 days -12 months

Term of loan

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Product NameSwoosh Finance
Minimum loan amount$2,000
Maximum loan amount$4,584
Initial Maximium Loan Amount$2,000
Arrears Fee$35
Loan term60 days -12 months
Turnaround timeNext business day
Costs$416 + 47% p.a. of borrowed amount
RequirementsYou must be 18+, been employed for at least 3 months and be a Permanent Australian Resident
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 borrowing from Swoosh Finance work?

Prospective applicants can apply for a loan from Swoosh Finance online and find out if they've been conditionally approved within 60 minutes if they apply during business hours. Once a contract is signed, funds will be transferred directly to the applicant in as little as one hour. Depending on the customer's bank, this process could take between 24-48 hours.

Swoosh Finance offers terms of 1 year with repayments tailored to an individual's financial situation. Customer repayments are automatically debited directly from a nominated bank account according to a loan schedule as agreed upon by Swoosh and the approved applicant.

Keep reading to see a breakdown of costs and other features offered by Swoosh Finance.

Features of a Personal Loan from Swoosh Finance

Swoosh Finance offers various features with its loans, including:
  • Application.Customers can apply online and complete the application in some instances within five minutes, provided they have the right information to hand. Swoosh uses BankStatements.com.au to securely retrieve the last 90 days of an applicant's statement history in order to process their application.
  • Turnaround time. Swoosh Finance can usually have a loan approved and sent to their customers on the same day, depending on who they bank with. Applications made on weekends, public holidays or later in the day will see a loan processed on the following business day.
  • Repayments.Repayments will be direct debited from a nominated bank account automatically on the agreed upon dates.
  • Longer repayment period. Swoosh Finance offers terms up to 1 year on its loans, which is considerably longer than many other payday lenders.

What are the risks of personal loans?

  • Unaffordable repayments. Consider the size of the regular repayments and ensure the loan is able to be repaid during the loan term. If not, extra fees apply to extend it. Be careful, since repayment periods for these kinds of loans tend to be shorter than regular loans.
  • Multiple applications. Every loan application shows up on credit reports. While lenders might not consider credit history, several applications within a short period can have a negative impact on your credit score moving forward.
  • Check rates and fees. Establishment and monthly fees are capped, so be wary of lenders quoting prices beyond the legal maximum amounts. Be crystal clear on what will be charged for late payments or a default on the loan. The total cost of the loan matters here - lenders can charge interest rates on top of everything else.
  • Long-term repercussions and legal issues. Once the loan agreement is signed, the customer is bound to its conditions until the loan and any associated rates and fees have been paid. Typically these loans are unsecured, which means that the lender can initiate legal proceedings against the customer if they can't repay.

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:

Mandatory fees and charges:

  • Establishment fee: $416
  • Annual Percentage Rate (APR): 47% p.a.

Applicable fees and charges:

  • Direct debit dishonour fee of $35

How to apply:

Loan customers can apply for a loan by submitting their application online or over the phone. In order to be eligible for a loan prospective applicants must satisfy the following requirements.

  • Age. Be 18 years or older.
  • Residency. Be a permanent Australian resident.
  • Employment. Need to be employed and have been in their job for at least three months.
  • Income. Earn at least $300 from employment. Customers can earn income from Centrelink but this cannot be their main source of income.
  • Vehicle. Own a vehicle registered in their name with no finance owing on it or encumbrances.
  • Credit rating. Customers can apply if they have bad credit history, are currently bankrupt, or are in a Part 9 Debt Agreement.

Applicants will also need the following details to complete their application:

  • Online banking details including their BSB and account number to receive their loan
  • Personal details such as their name and address
  • Information relating to their vehicle
  • Details of their employer or the Centrelink payments they receive
  • Their driver’s licence or Medicare card number
  • Information regarding their income and expenses

The application should take less than five minutes and customers can receive a response in 60 minutes if they apply during business hours. Approved funds will arrive into the nominated bank account within 24-48 hours.

If you're interested in a loan up to $4,584 where you'll have a little longer to repay, Swoosh Finance is an option for you to consider. However, consider all other avenues of financing first before considering something as potentially costly as this kind of loan.

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    Default Gravatar
    April 13, 2018

    Im Winner from Nigeria, can I apply for the loan?

      Avatarfinder Customer Care
      April 13, 2018

      Hello Winner,

      Thank you for your comment.

      Swoosh Finance personal loan is offered to permanent Australian residents or citizens only. So if you do not meet this criteria, you would be best to check with the local lenders in your country that might be able to condider you for a loan.


    Default Gravatar
    March 14, 2018

    Is it fast approval

      Avatarfinder Customer Care
      March 14, 2018

      Hi Wants,

      Thanks for getting in touch with finder. If you apply for a loan from Swoosh Finance Personal Loan, it says that you can apply for a loan from Swoosh Finance online and find out if you’ve been conditionally approved within 60 minutes if you apply during business hours. Once the document is signed your funds will be transferred to you in as little as one hour, but depending on who you bank with it can take between 24-48 hours. You are actually in the right page, you just need to click the Application criteria tab to get further information about the application requirements.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


    Default Gravatar
    June 23, 2017

    Hi, I’m interested to apply but have part 9 debt agreement.
    I have an old car registered under my name worth about $5k.
    Am I still qualified to apply?


      Default Gravatar
      June 24, 2017

      Hi Divi,

      Thanks for reaching out. Just to confirm, you have reached finder.com.au, not actually Swoosh Finance neither do we represent them.

      Yes, those who are in a Part 9 Debt Agreement may apply for this loan provided you meet all the eligibility criteria enumerated above. Also, your car must have no finance owing or encumbrances.


    Default Gravatar
    June 14, 2017

    With that $400 fee do u have to pay that up front or do you pay that off with the loan?

      Default Gravatar
      June 14, 2017

      Hi Daryl!

      Thanks for the comment.

      Fees and interest charges will be part of your loan amortization.

      Hope this clarifies.


    Default Gravatar
    May 9, 2017

    Do you have a line I can call to speak to someone? My emails aren’t getting replied to…

      Default Gravatar
      May 9, 2017


      Thanks for your inquiry.

      You can open a live conversation with an agent by clicking the Want to chat link on the bottom right corner of Finder.com.au.
      Please see the image belowWant to chat link

      Hope this information helped.


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