Personal loans

A personal loan can help you to get what you've always wanted. Get a car, get a holiday or better manage your debts and get ahead.
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What is the purpose of your loan?

Do you want to offer the car you’re buying as security for the loan to get a lower interest rate?

Do you need to use the loan all at once or in several smaller amounts?

How would you like to repay your loan?

Unsecured Personal Loan

With a Westpac Unsecured Personal Loan, you could:

  • Borrow between $4,000 and $50,000 (conditions apply)
  • Lock in a fixed interest rate of 12.99% p.a. (comparison rate of 14.14% p.a.1) available for new loans only
  • Pay your loan off between 1 and 7 years2
  • Refinance Australian, non-Westpac Personal Loans, credit cards or store cards
  • Access your funds in a Westpac account, within 60 minutes of final approval, 24/7.^
       
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Car Loan

Your dream car could be closer than you think with a Westpac Car Loan. With a Westpac Car Loan, you could:

  • Offer your car as security and get a fixed interest rate of 8.49%1 p.a. (comparison rate 9.67% p.a.2).
  • Borrow between $10,000 and $100,000 to purchase a new or used car.
  • Set a loan term that works for you from 1 to 7 years.
  • Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly.
  • Include up to an additional 10% of the car’s value in the total loan amount to use for on-road costs, such as insurance, registration and transfer costs.
     
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Westpac Flexi Loan

Only existing Westpac customers can apply for a Flexi Loan online – please call us on 1300 720 697 or visit a branch if you’re not a Westpac customer.

Westpac Flexi Loan lets you withdraw funds up to an agreed limit without replying. This makes the loan useful if you need to cover several costs at different stages over the course of a long-term project, such as home renovation or wedding planning. With a Flexi Loan, you could:

  • Pay interest only on your outstanding balance, not the assigned credit limit – variable interest rate of 14.99% p.a.
  • Repay what you like when you like, above the minimum repayment amount.
  • Use what you need up to a credit limit of between $4,000 and $50,000
  • Pay no additional withdrawal, early repayment fee or exit fees. Withdrawals may need to be authorised.

Line of credit loans require a high level of discipline in order to pay off the loan principle.
Other fees include a $150 establishment fee and $12 monthly service fee.

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Tools and calculators

Interactive online services to help you choose your loan and understand how it works.  

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1300 720 697

8am - 8pm, 7 days a week

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Things you should know

Credit criteria, fees, charges, terms and conditions apply.

^ If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan.

Comparison rate information
1. The comparison rate for the Westpac Car Loan is based on a secured loan of $30,000 for a term of 5 years. *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.

The comparison rate for the Westpac Unsecured Personal Loan is based on a loan amount of $30,000 for a term of 5 years. *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.

For secured personal loans, any motor vehicle offered as security must not be more than 12 years old upon loan expiry. The vehicle used as security must be registered under the applicant's name. If the vehicle is registered in joint names, the loan application must be under joint names. Initial rate indications quoted prior to full loan-to-valuation ratio being completed may change depending on the valuation of security offered.

Whether purchasing new or refinancing a used car, the vehicle has to have been imported to Australia by the manufacturer, and all the lending criteria met.