Swimming Pool Loans
Dive into a great personal loan deal for your swimming pool by comparing a range of options here with Savvy.
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The features and benefits of swimming pool loans
Competitive rates
You can secure a low rate for your profile and save on your personal loan by comparing a wide range of deals through us today.
Repay your loan over up to seven years
A personal loan gives you the freedom to pay at your own pace, with terms available as short as one year all the way up to a maximum of seven to shape your repayments.
Get approved for up to $75,000
Whether you’re buying a smaller above-ground pool or a fancier below-ground installation, you can borrow ample funds to help you pay for it.
Choose your own repayment schedule
Borrowers also get to decide whether to make their repayments on a monthly, fortnightly or weekly basis, in line with what suits their income.
Fixed or variable interest rates
There are plenty of factors to decide on with a personal loan, one of which is whether to fix your rate at the beginning of your loan or leave it variable across your term.
Fast approval and money transfer
Another key benefit of a personal loan to fund your pool purchase is that you can receive an outcome within 60 seconds and funds within 24 hours of applying.
Types of personal loan
Why compare personal loans through Savvy?
100% free
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Paperless applications
You won't need to worry about sifting through documents and visiting the post office, as they can all be submitted online.
Reputable lending partners
We've partnered with personal loan companies you can trust to ensure your comparison is a high-quality one.
A checklist for before you apply for pool finance in Australia
Ensure you’re eligible
First and foremost, before you apply, you should always review your lender’s criteria to determine whether you qualify for pool financing. The main points you’ll need to meet as part of this process include:
- You must be at least 18 years of age
- You must be earning at least $20,000 p.a. from stable income source/s
- You must be working full-time, permanent part-time or have held the same casual job with consistent hours for six months or more
- If self-employed, you’ll likely need to have been trading for two or more years
- You mustn’t have a history of defaults or bankruptcy
Work out what you can afford
Once you’ve determined your eligibility, it’s important to gain an idea of the amount you can afford to borrow. One way to do this is by using your disposable income (income left over after paying for your expenses) as a measure of your borrowing power, as lenders tend to allow a maximum of 25% to 30% of your monthly disposable funds for loan payments. You can run the numbers on different loan amounts and rates by using our online personal loan calculator, which gives you an idea of what you might pay each month and overall.
Review your credit report
If you haven’t already, you should always find out about your credit file before submitting your application. This tells you and, more importantly, your lender how well you’ve done in the past at servicing debt, such as making prompt and full loan payments and paying off other debts and bills. The better your credit rating, the lower your interest rate will be and the more you’ll be eligible to borrow. Knowing this in advance gives you the chance to improve it, which you can do by lowering your credit card limits and paying off outstanding debts.
Assess your loan’s fees
One of the most important factors in the personal loan comparison process is determining the fees you stand to pay in addition to your interest. This is partially indicated by your comparison rate, but this doesn’t include all fees. The fees you can pay are likely to include:
- Application fee: $0 to $595
- Ongoing service fee: $0 to $10 per month
- Early repayment fee: dependant on length of loan left, but often not charged
- Late payment fees: $15 to $35
Prepare your documents for submission
Finally, the process can be expedited by ensuring you have all of the required documentation on hand prior to submitting your initial application. While lenders may differ on the specific documents they need, you’ll likely be required to submit the following:
- Your last two payslips (proof of employment may also be required)
- 90 days of bank statements may be required
- If self-employed, at least the most recent year’s tax return
- Online banking account details
- Information on current assets and liabilities
Common swimming pool loan queries
Helpful personal loan guides
Still looking for the right personal loan?
Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.