A secured personal loan is a type of loan guaranteed by an asset, like a car. This asset is used as security over the term of the loan so that you have a simple way to get some much-needed cash.
If you’re in need of fast cash today, even if you’ve got bad credit, let us do the heavy lifting. Swoosh is a local secured loan lender. With our simple online loan application and speedy approvals, you can get a personal collateral loan in a matter of hours!*
Guide to instant approval personal loans
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What is a secured loan?
A secured loan is a loan where an asset that you own, like a car or motorbike, is used to guarantee the loan. They are called “secured loans” or ”collateral loans” because of the security they provide for the lender. If the borrower doesn’t make their repayments, the asset can be possessed by the lender and sold to pay back the loan.
Find out more: What is a Secured Loan?
How to get a secured loan
It’s easy and fast to get a secured loan using your car as collateral with Swoosh. Because of our fast and highly secure systems, our process is hassle-free, free to apply, and entirely online. You could be getting the decision you need in an instant. We follow 3 simple steps:
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Complete an online application on your mobile phone, computer or tablet. Applications only take minutes.
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Approval of your loan is provided within 60 minutes of receiving your information (during business hours)*. The decision will arrive promptly — right in your inbox.
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After approval, an offer is sent to you via email. Once you’ve electronically signed the contract, we’ll send the money directly to your bank account!
Apply for a small secured loan today
Since we’re 100% online, everything can be done from your tablet, computer, or mobile phone.
*Approval speed is conditional upon receipt of all requested relevant documents/information & usually comes within 1 hour during normal business hours/banking days. If you return your contract by 3:30pm AEST, your funds will be transferred overnight.
Are secured loans easier to get?
Loans with collateral are generally easier to get than unsecured loans, you may also be eligible to borrow more money.
We strive to make our loans as accessible as possible, so all Swoosh personal collateral loans are secured either by your car or another vehicle in your name.
When to get a secured loan
At Swoosh we know that life can give us all sorts of unexpected challenges, and we want to help. You may want to apply for a secured loan for situations like:
Quick cash loan eligibility
We only have 4 criteria for you to be eligible to apply for a fast cash loan:
- Unexpected bills (like car repairs or medical expenses)
- Car rego pagement
- Educational or training courses
- Holidays and flights
- Debt Consolidation
- Travel and social plans that require extra cash
No matter the situation, we’re here to help provide you the best Secured Loans for your circumstance.
How much can I borrow?
We offer secured loans from $2,300 to $5,000. Simply enter the amount you need on your application, and we’ll handle the rest.
Eligibility for secured loans Australia
Getting a small cash loan with Swoosh is easy. If you meet these simple secured personal loan requirements, you’re ready to apply today.
- Be 18 years or older
- Be a permanent resident or valid visa holder of Australia
- Employed 3 months or longer
- Own a vehicle registered in your name
Applications come with no obligation — they can be paused or stopped at any time.
Secured personal loan rates & fees
At Swoosh, we’re different to other lenders, we’re upfront and honest about our cost structure and process.
| Loan amount | $2,300 – $5,000* |
| Fees: |
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| Annual Interest | 47% (Comparison Rate 66.0347%)** |
| Term length | 12 Months |
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Debit dishonour fee (if a scheduled payment is returned unpaid) | $39.95 debit dishonour fee may be issued if a scheduled payment is missed or returned unpaid |
| Repayment options | Weekly, fortnightly or monthly (based on your pay schedule) |
Learn more: Rates & Fees
Loan interest rates and dishonour fee
Swoosh interest charges are calculated daily on your outstanding balance. Your interest rate is fixed for the loan term and determined based on the outstanding balance.
If a scheduled payment is returned unpaid, a $39.95 direct debit dishonour fee may be issued.
Secured loans with bad credit
Swoosh offers secured personal loans for people with bad credit history. We want you to receive the assistance you need, so we look at more than just your credit history. We look at the ‘here and now’ of your financial situation so we can help as many people as possible, including those rejected by the big banks.
Can I get guaranteed approval on a secured personal loan with bad credit?
While we cannot offer 100% guaranteed approval, we offer guaranteed approval on bad and very bad credit loan applications for Australians who meet our eligibility & lending criteria.
Collateral loans, bad credit, & responsible lending
At Swoosh, we believe in responsible lending, because we want the best for you.
We practise responsible and trustworthy lending, only approving your application if we believe you can repay the loan.
Repayment options
At Swoosh, we like to make things stress-free. That’s why we offer flexible repayment schedules that align with your paydays. Repayments can be automatically set for weekly, fortnightly, or monthly payments.
Why choose Swoosh for secured lending?
We pride ourselves on having one of the fastest, easiest, most straightforward process. Rather than navigating through tons of paperwork and dodging hidden costs, Swoosh partners with you every step of the way to offer the best possible secured loans for your circumstance, quickly.
Swoosh will:
- Help you get back on track
- Provide the cash you need, when you need it
- Make the application as easy as possible
- Approve your loan within one business day
- Provide the funds on-time
- Keep all of your information safe through our secure online system
What Swoosh customers love about our secured personal loans
With our quick approval process and friendly service, Swoosh customers appreciate:
- Our simple online application
- Fast approval with direct deposit
- 100% online service
- Our secure systems
- Flexible repayment schedules
- Transparent communication with no nasty surprises
Got questions?
Contact us to get your questions answered, or to discuss your individual case.
**WARNING: 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. Different terms, fees or other loan amounts might result in a different comparison rate.
FAQs
Got questions? We’ve got answers. Find find out more about applying, repayment, eligibility, credit & more.
It’s simple, fast, and easy to apply and get approved for a secured loan with us. As long as we have all the information we need, you could be approved the same day you apply.
A secured loan uses an asset, often a car, as collateral for your loan. Whereas an unsecured loan does not use any type of asset as security. The increased risk to the lender means unsecured loans tend to come with higher interest rates.
Read more on the difference between secured and unsecured loans.
Yes, a secured cash loan can help you build credit. Making repayments and settling your loan will help build a good credit score.
Secured loans can be an easy way to get cash quickly and often have lower interest rates than unsecured loans. Whether it is the right financial choice for you will depend on your unique situation. It is always good practice to see what your options are and weigh the pros and cons before deciding to apply.
Yes! You can pay off your secured loan early when you are with Swoosh and we won’t charge you any early repayment fees.
