Boat loan
Essentials
-
From 13.39% p.a. fixed for the life of your loan
Comparison rates from 13.71% p.a.
- $250 establishment fee 1
- $7.50 monthly service fee 1
- Borrow up to $70,000 to buy a new or used boat, up to 4 years old, directly from a marine dealer
- You could receive a conditional approval within minutes of applying over the phone
- Reduce your monthly repayments by extending the term of the loan for up to 7 years.
View our comparison rate schedules (also available at our branches).
All applications are subject to loan security guidelines and subject to the Bank's normal lending criteria.
Information current as at 04 December 2009.
Things you should know
- 1. Other fees and charges may be payable. Full Terms and Conditions are available on request. These may be varied, or new Terms and Conditions introduced in the future.
- 2.WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. View our comparison rate schedules (also available at our branches).
- 3. This fee will be added to your loan amount.
- 4. Our boat personal loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than two years, there is a prepayment fee of $175. This fee is waived if you take additional finance with Westpac within 2 years of the original loan.
Features
Fast approval decisions
- Online - we will aim to give you a decision within 24 hours of receiving your application
- By telephone - we can provide you with a conditional approval within minutes and a formal approval once you provide all the necessary information.
Borrowing details
- Borrow between $4,000 and $70,000 with this low interest personal loan to buy a new or used boat up to 4 years old, directly from a marine dealer
- Benefit from a low, fixed interest rate, using the boat as security.
Discounts
- If you meet the eligibility criteria, you may receive a discount of 0.5% p.a. interest rate discount on student loans when you have the Westpac Choice Student package, Westpac Choice Youth package or the Westpac Plus account
- If your employer is part of our Corporate Connections program, you may be eligible for a discounted rate. Ask about this offer when you call.
Repayments you can control
- Choose how much to repay each month, as long as it results in your loan being repaid within 1 to 7 years
- Make extra repayments when you have additional funds to reduce the term of your loan faster 4
- There is one simple monthly repayment so you know exactly how much you need to pay.
Things you should know
- 1. Other fees and charges may be payable. Full Terms and Conditions are available on request. These may be varied, or new Terms and Conditions introduced in the future.
- 2.WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. View our comparison rate schedules (also available at our branches).
- 3. This fee will be added to your loan amount.
- 4. Our boat personal loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than two years, there is a prepayment fee of $175. This fee is waived if you take additional finance with Westpac within 2 years of the original loan.
Fees
| Fee | Amount |
|---|---|
| Establishment fee 3 | $250 |
| Monthly service fee | $7.50 |
| Prepayment fee 4 | $175 |
Things you should know
- 1. Other fees and charges may be payable. Full Terms and Conditions are available on request. These may be varied, or new Terms and Conditions introduced in the future.
- 2.WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. View our comparison rate schedules (also available at our branches).
- 3. This fee will be added to your loan amount.
- 4. Our boat personal loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than two years, there is a prepayment fee of $175. This fee is waived if you take additional finance with Westpac within 2 years of the original loan.
Rates
| Loan | Annual rate | Comparison rate 2 |
|---|---|---|
| Boat loan | From 13.39% p.a. to 14.29% p.a. | Show comparison rates |
| Amount of loan | Term | Annual interest rate | Comparison rate 2 |
|---|---|---|---|
| $5,000 | 2 years | 14.29% p.a. | 22.78% p.a. |
| $10,000 | 3 years | 13.79% p.a. | 17.13% p.a. |
| $15,000 | 4 years | 13.79% p.a. | 15.51% p.a. |
| $20,000 | 4 years | 13.79% p.a. | 15.23% p.a. |
| $25,000 | 5 years | 13.79% p.a. | 14.82% p.a. |
| $30,000 | 5 years | 13.79% p.a. | 14.65% p.a. |
| $50,000 | 7 years | 13.79% p.a. | 14.23% p.a. |
| $70,000 | 7 years | 13.39% p.a. | 13.71% p.a. |
Rates are current as at 04 December 2009 and are subject to change.
View Boat Loan essentials.
Things you should know
- 1. Other fees and charges may be payable. Full Terms and Conditions are available on request. These may be varied, or new Terms and Conditions introduced in the future.
- 2.WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. View our comparison rate schedules (also available at our branches).
- 3. This fee will be added to your loan amount.
- 4. Our boat personal loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than two years, there is a prepayment fee of $175. This fee is waived if you take additional finance with Westpac within 2 years of the original loan.
Did you know?
Westpac offers a range of repayment options, including Direct Debit which is an easy and convenient way to repay your loan, so why not set one up today?
