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While paydays are fairly predictable, life is not. And the gap between receiving an unexpected bill and your pay hitting your bank account can create a huge amount of stress. Emergency and unplanned expenses can happen day or night and you could find yourself needing a quick cash loan in between paydays.
This is where the online Payday Loans from Swoosh can help.
What are Payday Loans?
A Payday Loan is a short-term loan that can spot you in between pay cheques. It lets you continue on with your life while having enough money to pay for any unexpected expenses. You can use payday cash loans to pay for anything – car repairs, household repairs, childcare fees or emergency medical bills.
In Australia, Payday Loans don’t have the greatest reputation. You might have heard horror stories about impossible repayments, damaged credit scores and hidden fees. In fact, the reality today is that there are plenty of payday loan providers out there for you to choose from and, by law, they must act responsibly.
When comparing payday loan providers, look out for the following:
- Transparent rates and fees
- Responsible screening process
- Achievable payment plans
- Good reviews and reputation
Discover the ins and outs of how payday loans work in the video below, check out the FAQs at the bottom of this page and find even more answers to questions about our loans here.
Swoosh payday loan fees and interest rates
How much can I borrow?
You can borrow between $2,000 and $5,000 in between paydays for urgent, unplanned expenses. Swoosh Payday Loans are an easy and 100% online way of getting access to money fast.
What will I pay?
Our Payday Loans can be paid back over 12 months. There are no hidden monthly fees and charges, and no penalties for paying back your loan quicker, so you can pay it back as soon as you are ready.
- $0 application fee (even if your application is not approved)
- Establishment Fee – $400 (included in the loan)
- PPSR and Security Check – $16 (included in loan)
Keep in mind that you may incur additional fees each time you miss a payment, and this may affect the length of your loan.
Interest is calculated daily based on the outstanding balance and is applied monthly to your account. Interest rates are fixed for the loan term — so you know exactly what to expect.
If a scheduled payment is returned unpaid, we may issue a $35.00 debit dishonour fee. This fee is not subject to interest, though you’ll continue to pay usual interest charges as described. Find out more: Payday Loans Rates and Fees.
How to apply
When you’re looking for an instant payday loan, we understand that it’s urgent. So we’ve made it super-fast and easy to apply for our online loans.
1. Complete an online application on your mobile phone, computer or tablet. Applications only take minutes.
2. Approval of your loan is provided within 60 minutes of you providing required information (during business hours)*. The decision will arrive promptly – right in your inbox.
3. After approval, an offer is sent to you via email. Once you’ve signed the contract, we’ll send the money directly to your bank account.
There’s no need to sign-up for an account and it’s free to apply. To make life stress-free and easy, we align your repayments with your payday so you don’t miss a repayment. We also only approve your loan application if we believe you can repay it.
Am I eligible to get a Same Day Payday Loan?
To be eligible to borrow money with Swoosh, you only need to meet the following simple criteria:
Be at least 18 years old
Be employed for at least 3 months
Be a permanent resident or valid visa holder of Australia
Own a vehicle registered in your name
Why choose Swoosh
- Responsible Lender
- Trustpilot Approved
- 100% Online
- Fast Approvals
FAQs
Are payday loans legal?
Yes, payday loans are legal–and by law, payday loan lenders must lend responsibly. That means payday loan providers must assess your financial position and make sure you can afford to repay the loan without substantial hardship.
Do payday loans show on your credit report?
If a payday loan provider conducts a credit check when you apply for the loan, it will show up on your credit report. This is not necessarily a bad thing, however if you fail to meet your repayments on the payday loan, it will show up in your credit history as a default, which could negatively impact your credit score.
Are payday loans easy to pay back?
As a responsible lender, Swoosh will only approve your loan application if we believe you’re capable of repaying the loan. Not only that, we’ll align your repayments with your payday so you never miss a repayment.
How quickly can I get a payday loan?
Our 100% online application only takes minutes to fill out. Once received, we can get you the money you need on the same day.
For more information: How to Apply for Payday Loan Online
Can I still get a payday loan even if I have bad credit?
Yes, it is possible. Your credit history is exactly that – history. We believe in responsible lending and consider every payday loan application on its individual merit.
Can I apply for a payday loan with Swoosh if I already have a loan with another company?
Yes, if you have other loans you can still apply for a loan with Swoosh. As responsible lenders, Swoosh will only approve your application if we believe you can afford to repay your loan.
What interest rate will I get?
All our fees and rates are clearly displayed on our Payday Loan Rates and Fees page.
What will my repayments be?
You can calculate your repayments up front by using the calculator on the right hand side of this page.
When will I receive the money?
Within an hour of receiving the required information from you for your application, you should receive an offer email, which you will need to sign. Once you have signed, most applicants receive the money in their bank account the same day.
What happens if I don’t pay my payday loan?
Our payday loans are secured loans, which means your vehicle is used as security for the loan. In the unlikely event that you do not pay your loan repayments, the lender is entitled to repossess your vehicle. However, at Swoosh this is very unlikely to happen, as we make every effort to ensure your repayments remain affordable should your financial situation change. If you need assistance making repayments or need to discuss your current financial situation, we have a dedicated team that can help you explore your options. You can contact them directly by sending an email to assistance@swoosh.com.au.
Testimonials
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The Swoosh difference
Our Cash Loans are available when you’re in a pinch — and we work hard to make it happen fast.
We put you first, ensuring you have all of the information upfront.
Swoosh Cash Loans give you the funds you need now from a lender you can trust.
Want to chat to someone?
Use our live chat or fill out the contact form to get in touch with a Swoosh Finance specialist
