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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, updated on October 4th, 2023       

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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?

A checklist for before you apply for pool finance in Australia

Common swimming pool loan queries

What other expenses do I have to budget for when building a pool?

The cost of having a pool doesn’t lie solely in the installation, but the upkeep also. Before you buy your pool, you should first consider whether the following factors are within your budget:

  • Pool water pump: installation can cost from $500 to $1,500 or more, with the pump costing over $100 each month to run in summer
  • Pool heating: solar heating costs between $100 and $200 annually, while alternatives can set you back up to $1,500
  • Pool fencing: anywhere from $200 to $600 per linear metre
  • Pool evaporation: for an 8m x 4m pool, more than 160 litres of water can evaporate per day
Do I need to provide security for my swimming pool loan?

No – personal loans are available without the need for security, which means you don’t need to put an asset as collateral against the loan. This opens up the possibility for more borrowers to take out loans who either can’t or prefer not to utilise security. Secured personal loans are offered by some lenders, however, and can be a great way to increase your borrowing power beyond $50,000 and lower your interest rate.

Can I use my loan for other, non-pool purposes?

Yes – just because it’s a swimming pool loan doesn’t mean that the funds are exclusively used for the installation and maintenance of the pool. You can use your personal loan funds how you wish, whether you want to use part of your loan to pay for educational or medical expenses, consolidate outstanding debts or even to fund your honeymoon

Am I able to be approved for pool financing if I’m on Centrelink?

Yes – personal loan financiers can accept Centrelink income as part of your overall annual earnings, provided that they’re supplementary in nature and are a more stable income source. Payments such as JobSeeker, Youth Allowance and Austudy are contingent on the recipient being a certain age or holding a particular employment or study status, so they can’t be accepted.

How much will the pool increase the value of my home by?

Below-ground pools can increase the value of a home by up to 7% on average, but that is highly dependent upon a number of external factors. The rest of your house, the amount of remaining garden space and the location of the property must all be appealing for homeowners to see any increase in value after installing their pool.

Is it better to take out pool financing with my partner?

It can be – submitting a joint application can substantially increase your borrowing power, as the reliance to repay the loan shifts from one income stream to two. This is also likely to result in a lower interest rate on your loan, which can help your family save money that can be dedicated elsewhere. If you’ve recently bought a new place, paying for the pool as a couple can add to the shared financial responsibility that paying a mortgage brings and strengthen your shared sense of achievement.

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.