Rating based on 27 reviews


  • Payday loans up to $800
  • Low-interest starting from 48%
  • Repayment up to 32 days

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Author Kwoom. Screenshot of Kwoom website.
[Accessed May 3, 2023]

Kwoom - The best payday loan option

Kwoom is an online credit advance lender. They are not interested in giving clients money in exchange for earning bigger interest, they are more concerned about helping their customers during a difficult time.

They aim to give their clients peace of mind during a time when they probably don’t even know how they going to survive till their next payday.

Fully online

Being a fully online lender, they aim to make the personal loan application process fast, convenient and of great service. It is also a great benefit for people who don’t have time to go to the branch and make the loan manually. Therefore, with everything being electronic, it is a lot faster and you as the customer will have the money in no time.

Regular income and good credit history

Kwoom is a financial services provider that only lends money to clients who have a regular income and a good credit record.

Although this may seem a bit biased for other customers, these are their rules and procedures. The last thing they want is to have their clients that pay their payday loans to pay for the repercussions of the customers that don’t fulfil their financial obligations.

Further to that, people with bad credit are not bad people, everyone has faced a difficult time in their financial life. They just prefer working with people who have a positive credit record instead. This minimises them doing the bad work – the one that requires them to involve credit bureaus and extensive court cases of employees failing to pay their debts.

Quick 5-minute loan application

Clients are required to fill in an online loan application that takes less than 5 minutes to complete. In this form, they will be asked for personal details such as credentials, place of employment and salary dates.

After accessing your payday loan application, they will then send you an approval message by email and SMS.

The money will be deposited into your bank account by the end of the business.


In order to apply for a loan at Kwoom you must:

  • Be over the age of 18 years
  • Be employed or self-employed with an excess of over $500 excluding Centrelink benefits
  • Have an active bank account

Credit checks

Credit checks normally scare clients but this shouldn’t be the case.

The only reason they do credit checks is so they can determine if the customer in question will be able to pay for the short-term loan.

Should they decide to not proceed with your loan application, they will give you all the necessary reasons as to how they came about such a decision.

However, nothing stops you from going to correct the slight glitches identified and trying to apply them again in future.

Kwoom – Payday loan

  • Loan Type Payday loans
  • Interest Rate from 48%
  • Loan Amount up to $800
  • Repayment 16 days to 32 days

Benefits of Kwoom

  • Get the best loan rates
  • Affordable payday loans
  • Flexible repayment periods

Payday loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This payday loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Kwoom - They beat any rate

Unless a client wants to pay back the loan earlier than the agreed date, they have a maximum of 60 days to repay back the loan.

Insufficient funds

Clients will incur a dishonest fee of $30 in the event of funds being unavailable on the day of payment.

A loan extension

Due to unforeseen circumstances, clients may request their emergency loan to be extended. Being the considerate people that they are, they will allow customers for such a request on a special condition. The condition may be beyond the customer’s control. However, this is not to say that they will always be agreeing to a frequent loan extension. This is why they always tell their clients to be certain that they will be able to pay the loan they are applying for.

Applying for another loan

Depending on the manner in which you repay your fast loan, you might be eligible to apply for another one after a day or two of settling the previous one. There is generally not much time that you have to wait. All they require is confirmation that you have settled the old one and you are good to go!

A default fee

Although they try their best to sympathise with their clients, they are trying to run a successful business after all. That said, there are only so many “second chances” they can give. Clients incur an amount of $5 per day for an account that is in arrears. Therefore, the longer you take the account, the more arrears you have to pay.

Kwoom blog

They have a variety of articles in their blog section. These articles are strictly financed related and by the time you finish reading a certain segment, you will know how to handle your money better.

They beat any rate

Since they are so sure that they have affordable payday loan rates, they also encourage their clients to find other lenders and if their rates are lower than theirs, they will beat it! They have remained one of the lowest lenders in Australia and they don’t think any other financial services provider will take their prestigious place.

man holding thumbs up

Kwoom is a trusted & reliable provider of payday loans

In our review, Kwoom adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, where the granting the loan will not cause financial distress to the consumer.

✅ Kwoom is a registered credit provider in Australia: ACL 412952

Customer Reviews & Testimonials

I am so grateful to my app on my phone it's super cool and I can get a loan whenever I need one that is a great feeling.

Christine M
— Perth —

Thank you for the great service that I have received from the company and its super cheap and that has made me even happier I recommend them.

James M
— Brisbane —

I got my loan and it was the first time I had ever applied I am super amped to use the company again in the future.

Mel C
— Sydney —

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