Westpac Personal Loans

Westpac offers a range of personal loans for a variety of purposes. You can opt for a unsecured personal loan with interest rates starting from 7.99% p.a., or use the flexi loan like a line of credit. Interest rates for flexi loans are higher, starting from 16.99% p.a.

Compare Westpac products below

• Westpac Personal Loans
• Westpac Car Loans

{"visibility":"visibilityTable","ctaLabel":"Calculate","tableCode":"AUFPL_COMPARISON_V2_TABLE","nicheCode":"AUFPL","fields":[{"name":"LOAN_AMOUNT","value":"30000","options":"","label":"Loan amount","suffix":"$","useSuffixAsPrefix":true,"useDropDownOption":false,"tooltip":""},{"name":"PERIOD","value":"3","options":"","label":"Loan term","suffix":"years","useSuffixAsPrefix":true,"useDropDownOption":false,"tooltip":""}]}

1 - 2 of 2

Updated regularly

Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
Westpac Unsecured Personal Loan Fixed1 - 7 Years $4,000 - $50,000	Interest Rate (p.a.) 7.99% to 20.49%	Comp. Rate (p.a.) 9.18% to 21.61%	Application Fee $250	Monthly Fee $12	Monthly Repayment $959.79	More Info Compare
Westpac Flexi Loan Variable1 - 5 Years $4,000 - $50,000	Interest Rate (p.a.) 16.99%		Application Fee $150	Monthly Fee $12	Monthly Repayment $1,086.78	More Info Compare

loading

Load More

Showing 2 of 2 results

1 - 1 of 1

Updated regularly

Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
Westpac Car Loan Fixed1 - 7 Years $10,000 - $100,000	Interest Rate (p.a.) 6.49% to 12.99%	Comp. Rate (p.a.) 7.69% to 14.14%	Application Fee $250	Monthly Fee $12	Monthly Repayment	More Info Compare	You'll receive a fixed rate of 6.49% p.a. Finance a new or used car and benefit from convenient features for car buyers including a car search tool and the option to borrow extra for on-road costs.

loading

Load More

Showing 1 of 1 results

• Flexi Loan. This loan allows you to withdraw funds up to an agreed-upon limit without reapplying, working like a line of credit rather than a traditional personal loan. This is an option for borrowers looking for flexibility. The Flexi Loan has a credit limit of between $4,000 and $50,000 so it is useful for a variety of purposes. Westpac charges no fee for additional withdrawals and there is no early repayment fee.
• Personal Loan. This is designed for individuals who want to have a fixed interest rate loan. It is an unsecured loan that can be used for a variety of reasons such as home renovations, education expenses or a car purchase. Terms of between 1 year and 7 years are available, and you can apply for between $4,000 and $50,000. It's also possible to repay your loan faster, but if you have loan terms of longer than two years and pay back the loan within those two years, a $175 fee applies. This fee is waived if you refinance to another personal loan from Westpac.
• Car Loan. Looking to buy a new or used car? This loan features fixed interest rates and repayment terms of between 1 year and 7 years. You can borrow between $10,000 and $100,000 to buy a car which will be used as the security for the loan. Keep in mind there's a set-up fee of $250 and a monthly service fee of $12.

Features and benefits of a Westpac personal loan

• Flexible repayment terms. You have the choice of paying weekly, fortnightly or monthly to suit your budget.
• Revolving credit. This Flexi Loan feature essentially acts as a line of credit, allowing you to borrow up to the and including credit limit.
• Competitive rates. Westpac's personal loan products feature competitive rates to help customers save money on interest.

Westpac personal loan repayment calculator: How much will a Westpac personal loan cost?

Westpac offers a personal loan calculator on its website to help you determine the cost of using its personal loan. You start by selecting whether you want to calculate the costs of a car loan or an unsecured personal loan, and then you input the following information:

• How much you want to borrow
• Your preferred loan term
• The interest rate and comparison rate of Westpac's personal loan will be entered for you
• Select the state you live in

After you enter the required information you will be shown the estimated repayments for your loan. You can select weekly, fortnightly or monthly repayments. The loan amount, estimated interest cost and estimated total cost of your loan will be displayed. To adjust these, simply scroll back up and select a different loan amount or terms.

You can also use a personal loan calculator to get an estimate of your loan repayments.

Loan Repayment Calculator

*Whilst every effort has been made to ensure the accuracy of this calculator, the results should only be used as an indication. They are neither a recommendation nor an eligibility test for any product and should not be construed as financial advice, investment advice or any other sort of advice.

What other products does Westpac offer?

• Bank accounts. Westpac offers a comprehensive range of bank accounts which includes transaction accounts, savings accounts and term deposits.
• Credit cards. Whether you want a low rate credit card, a low annual fee credit card or a rewards card, Westpac has cards to suit a range of customers.
• Home loans. The bank has loans for first-time homeowners, investors and people who want to move up the property ladder. You are able to choose from fixed rate, variable rate or combination loans.

How you can apply for a personal loan from Westpac

Applying for a personal loan from Westpac is a straightforward process, and you can get started by clicking "Go to Site" on any of the loans above. The eligibility criteria is as follows:

• Be over the age of 18
• Have a regular, permanent income
• Be a permanent resident of Australia or;
• Hold an acceptable Visa and have confirmed employment in Australia
• Have a regular, permanent pre-tax income that is over $35,000 p.a.

If you meet the above criteria, the following details will be required to complete your application:

• Personal details such as your name, proof of your identity and your contact information
• Details about your finances and your employment
• A list of your assets and liabilities, if you're self-employed

You need to meet set eligibility requirements which include being a permanent Australian resident, being at least 18 years old and earning a regular income. Some of the documents that should be included with your application are details of your finances, contact details including your residential address, and proof of identity. If you are a Westpac customer, the bank will ask you to verify your records.

These Westpac loans are worthwhile options for prospective borrowers to consider, but make sure to compare your options before deciding on one particular loan.

Written by

Richard Fairbairn

Assistant publisher

Richard Fairbairn is Finder’s associate publisher for personal loans. He has been helping people make better financial decisions for over five years. Away from his desk, Richard enjoys all things musical and camping, preferably both at once. See full bio