At Swoosh, we make things easy.

We offer flexible loan repayment schedules aligned with your paydays.

And we can send SMS texts to you as a reminder if you wish.

Easy steps

Before you sign a contract, you’ll review the details, repayment schedule and loan costs.

Once you’re approved for a loan:

  1. You’ll set up a repayment schedule based on your paydays
  2. You can choose weekly, fortnightly, or monthly repayments.
  3. Repayments are direct debited from your bank account overnight

Yes, it’s that easy!

Inability to make payments

Loan repayments will be direct debited from your account on the agreed repayment dates.

Ensure the required cash is available in your bank account to avoid penalties.

Missing a repayment

If you miss a repayment or have insufficient funds in your bank account, Swoosh will contact you prior to making subsequent direct debit attempts.

At this time, you’ll incur a direct debit dishonour fee ($25.00) and your repayment will be rescheduled.

Stopping repayments

We realise things can happen.

If you encounter issues, contact our Customer Care team — and they’ll be happy to assist you.

If we don’t hear from you, and you stop repaying your loan, we may pass your account to an external debt collection agency. Please note this is a last resort and we’ll be legally entitled to register a default on your credit file. This default will not be removed from your credit file for 5 years.

Most importantly, contact us as soon as possible if a payment declines.

Repayment schedule

Your repayment schedule can be reviewed by contacting us directly.

Additional borrowing

As you build a trust rating with Swoosh, you may benefit from a faster borrowing process in the future.

You might also be able to borrow more on subsequent loans.

However, if you default on your loan repayment, your trust rating will be affected and we may be unable to offer you further loans.

Questions or concerns

If you have any concerns or questions with your repayments, please contact our Customer care team today.

What it Costs?

Swoosh offer Secured Medium Loans from $2,000 to $5,000 and are subject to APR and a comparison rate. View an example below;

Secured Medium Loan – $2,100 over 12 months

Establishment Fee$400
Annual Percentage Rate (APR)48%
Average Weekly Repayment$61
Total fees and charges$1,079.33
Total Repaid$3,179.33

Our Secured Medium Loan fee structure is:

Establishment fee: $400, APR 48%, Term: 12-24 months.
For more information about the allowable fees and charges for MACCs visit the MoneySmart website.

Comparison Rate: 66.0347% p.a. This comparison rate is based on the Swoosh Medium Loan for an amount of $2,500 over 2 years and a $400 establishment fee. Fees and charges are payable.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Still have questions?