Swoosh Finance Personal Loan Review

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Get a personal loan from Swoosh Finance with terms of up to 5 years.

If you’re in need of quick funding, you can apply for a Swoosh Finance Personal Loan from $3,000 to $100,000. If approved, you can receive your cash deposit on the same day. You’ll have 5 years to repay your loan.

Pros and cons

Pros

  • Long repayment terms
  • High maximum loan amount
  • Same-day loan approval
  • Automated repayments

Cons

  • $240 establishment fee, $10 monthly administration fee
  • High interest rate

Application criteria

  • Aged 22+
  • Permanent New Zealand resident
  • Employed for at least 3 months
  • Own a registered vehicle, boat, motorbike or home in your name with no finance owing or encumbrances
  • Minimum credit score of 300

How does borrowing from Swoosh Finance work?

You can apply for a loan from Swoosh Finance online in just five minutes and receive conditional loan approval within 60 minutes during business hours. After you sign the contract electronically, you’ll receive your deposit directly into your bank account on the same day (depending on your bank, it might take 24-48 hours for you to receive the transferred funds). If you return your contract after 3:30pm NZDT, funds will be transferred to you on the next day.

Swoosh Finance offers terms up to 5 years, with repayments made weekly, fortnightly or monthly, depending on your pay schedule. Repayments will be automatically direct debited from your bank account.

Features of a personal loan from Swoosh Finance

Swoosh Finance offers a range of features for personal loans, including:

  • Quick application. You can easily submit an application online in less than 5 minutes. Swoosh accesses your last 90 days of statement history via BankStatements.com.nz to process your loan.
  • Same-day turnaround. Loan approval will usually happen within 60 minutes if you apply during normal business hours. Return your contract before 3:30pm NZDT and you’ll get transferred the funds overnight. Applications submitted during public holidays, weekends or after COB will be processed the next business day.
  • Auto repayments. Repayments will be direct debited from your bank account on an agreed regular basis.
  • Longer repayment terms. Swoosh Finance offers terms up to 5 years, which is significantly longer than other provider loans available.

How much will the loan cost?

You need to understand exactly how much you will pay in fees and interest, and what you might pay if you’re late with repayments.

The following fees may apply to your loan:

  • Establishment fee of $240
  • Valuation Fee of $0 per month
  • PPSR Search & Registration Fee of $9.60

Ready to apply? Here’s how

You can apply for a loan by completing the application form online. To be eligible for a loan, check these requirements:

  • Age. Be 22 years or older.
  • Residency. Be a permanent New Zealand resident.
  • Employment. Be employed for 3 months or more.
  • Security. Own a vehicle, boat, motorbike or home registered in your name.
  • Credit rating. You need a minimum credit score of 300.

To submit your application, you will need to provide the following details:

  • Online banking details, including your BSB and account number
  • Personal details, including your name, address and phone number
  • Information on your vehicle, boat, motorbike or home
  • Employment details or Social Security payment details
  • Your driver’s licence
  • Information regarding your income and expenses

 
You can complete your application in less than 5 minutes and it will be processed within 60 minutes if you apply during business hours. If your loan is approved, your funds will be deposited into your account in 24 to 48 hours.

If you’re interested in a loan up to $100,000 with longer repayment terms over 5 years, consider a personal loan from Swoosh Finance.

Compare alternative personal loans in New Zealand

Updated April 8th, 2020
Name Product Interest Rate (p.a.) Min. Loan Amount Max. Loan Amount Loan Term Monthly Service Fee Application Fee
Harmoney Unsecured Personal Loan
6.99% - 29.99%
$2,000
$50,000
Up to 60 months
N/A
$200-$450 depending on loan size
Apply for an unsecured personal loan up to $50,000 with no early repayment fees. Eligibility: Be a NZ resident/citizen and have a good credit score.
Pronto Secured Personal Loan
11.97% - 29.97%
$200
$20,000
Up to 60 months
N/A
N/A
Secured personal loans of up to $20,000 with approvals in under 10 minutes. Eligibility: Be an 18+ and a resident of New Zealand.
Nectar Personal Loan
8.95% - 29.95%
$1,000
$20,000
Up to 4 years
N/A
240
Unsecured loans from $1,000 with payouts made within one day of approval. Applications entirely online. Eligibility: Must be 18+, an NZ citizen or permanent resident, and have an income of $350 per week or more (after tax).
NZCU South Personal Loan (Unsecured)
10.90% – 28.90%
$2,000
$60,000
Up to 7 years
N/A
$250
An unsecured personal loan up to $60,000 with personalised repayment options. Eligibility: Be an 18+ permanent NZ resident or non-resident on a working visa, earn $500+ weekly.
Lending Crowd Personal Loan
6.49%-16.78%
$2,000
$200,000
3 or 5 years
N/A
$250-$1,450 depending on the amount borrowed
A secured personal loan from $2,000 to $200,000 with repayment instalment options. Eligibility: Be an 18+ NZ permanent resident, earn $30,000 or more, have a good credit history and collateral/security.
NZCU South Personal Loan (Secured)
8.90% - 27.90%
$2,000
$60,000
Up to 7 years
N/A
$250
A secured personal loan up to $60,000 with personalised repayment options. Eligibility: Be an 18+ permanent NZ resident or non-resident on a working visa, earn $500+ weekly.
Admiral Finance Secured Personal Loan
13.95% - 23.95%
$1,000
$50,000
Up to 60 months
N/A
$125-$595 depending on loan size
A secured loan from $1,000 to $50,000 with a quick online application process. Eligibility: Be an 18+ permanent NZ resident, have collateral/security, earn at least $450 per week.
QuickLoans Personal Loan
9.95% - 23.95%
$1,000
$20,000
Up to 36 months
$12
$95-$595 depending on loan size
Borrow up to $20,000 and apply online within 5 minutes. Eligibility: Be over 18, hold permanent NZ residency, have collateral/security, earn at least $450 per week.
Stadium Finance Personal Loan
9.95% - 19.95%
$3,000
$100,000
Up to 60 months
N/A
Varies with lender
Stadium Finance negotiates loan terms with a network of lenders. Borrow between $3,000 to $100,000 and funds paid within one day of approval. Eligibility: Must be 18+. Other requirements depend specific lender.
ANZ Personal Loan
13.90%
$3,000
$40,000
Up to 7 years
N/A
$115
BNZ Advanced Personal Loan
12.65% (students/graduates) - 17.85% (standard)
$1,000
$30,000
Up to 5 years
N/A
$50
Kiwibank Personal Loan
13.95% - 18.95%
$2,000
N/A
Up to 7 years
N/A
$240, $0 for Graduate Pack customers
Loan Spot Personal Loan
9.95% - 24.95%
$3,000
N/A
1-5 years
N/A
$276
Personal loans at fixed interest rates starting from 9.95% p.a and get funded within 48 hours.
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