Personal loans
4.99% p.a.~ fixed rate (comparison rate 6.21% p.a.^)
In the market for a new or used car? Looking to reduce emissions as well as running costs?
Tools and calculators for personal loans
Unsecured Personal Loan
Use this loan for a large purchase or consolidating debt.
Key Numbers
| Interest rate range | 7.99% p.a. to 17.49% p.a fixed |
| Comparison rate range | 9.18% p.a. to 18.62% p.a.^ |
| Flexible loan term | 1-7 years |
| Borrow: | $4,000 to $50,000 |
Key Features
- A fixed rate helps you plan ahead, as you know what your repayments will be
- Weekly, fortnightly or monthly repayments
Car Loan
Use this loan to buy a new or used car (less than 7 years old). Preferential rates for eligible electric and hybrid cars.
Key Numbers
| Petrol/diesel/LPG Fixed interest rate | 6.49% p.a. |
| Comparison rate | 7.69% p.a.^ |
| Electric/hybrid Fixed interest rate | 4.99% p.a.~ |
| Comparison rate | 6.21% p.a.^ |
| Flexible loan term | 1-7 years |
| Borrow: | $10,000 to $100,000 |
Key Features
- Get a lower rate by using your car as security^^
- With preferential rates for eligible electric and hybrid cars
- A fixed rate helps you plan ahead, as you know what your repayments will be
- Weekly, fortnightly or monthly repayments
Flexi Loan
A flexible way to access funds. Pay interest only on the funds you use.
Key Numbers
| Variable interest rate | 16.49% p.a. |
| Comparison rate | Not applicable |
| Flexible loan term | No maximum |
| Line of credit between | $4,000 to $50,000 |
Key Features
- A reusable 'line of credit' facility, to cover multiple expenses without needing to reapply
- No early repayment, exit or redraw fees
Note: These loans need a high level of discipline in order to pay off the principal.
Get a personalised rate for an Unsecured Personal Loan
We give you a personalised rate and estimated repayments based on your credit score and the loan details you provide to us.
Get your personalised rate and an estimate of your repayments by answering a few questions. If you already bank with us, sign in to save time.
The details
Our Unsecured Personal Loan comes with a fixed rate, meaning that you have the certainty of a set repayment amount throughout the life of the loan. You can also make extra repayments to pay off your loan faster, giving you the best of both worlds (prepayment fee may apply#).
Get your personalised rate before you apply.
Key rates and fees
| Rate or fee | Amount |
|---|---|
| Annual fixed rate range | 7.99% p.a. to 17.49% p.a. |
| Comparison rate range | 9.18% p.a. to 18.62% p.a.^ |
| Lending establishment fee |
$250 |
| Monthly loan account fee | $12 |
Other fees and charges may be payable.
Fees that may apply
| Fee | Amount |
|---|---|
| Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan). | $175 |
| Missed payment fee | $15 |
| Bank cheque fee | $10 |
Before you apply
Follow this section to improve the likelihood your application is approved.
- You’re aged 18 or over
- You have permanent residency in Australia/NZ OR;
- You’re a non-resident or migrant and hold an acceptable Visa (PDF 34KB), with a minimum 1 year before expiry
- You have a regular, verifiable Australian taxable income
- You have a fixed, verifiable residential address in Australia.
Understanding personal loans
Everything you need to know about the features and potential uses of the basic personal loan types.
Thinking of consolidating debt?
Take control with a personal loan for debt consolidation.
After something else?
More to help you choose
Manage your personal loan
Things you should know
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice. Please consider your individual circumstances before applying for a Westpac Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information correct as of 4 July 2022.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan 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.
- Unsecured Personal Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years with the interest rate of 7.99% p.a. (comparison rate 9.18% p.a.), the estimated total amount payable including fees is $37,513. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 7.99% p.a. to 17.49% p.a. (comparison rate from 9.18% p.a. to 18.62% p.a.)
- Car Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a personal loan of $30,000 borrowed for 5 years with the interest rate of 6.49% p.a. (comparison rate 7.69% p.a.), the estimated total amount payable including fees is $36,224.
#Prepayment fee: If you choose a term greater than 2 years for a Westpac Personal Loan, 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.
*Access to funds within 60 minutes: Available for existing customers who are approved for an Unsecured Personal Loan. Loan funds will be disbursed into an existing Westpac transaction account 60 minutes from when e-contract acceptance has been received. Funds requested to be transferred to a non-Westpac account will take up to 3 days.
1. Ongoing access to credit: Withdrawals are subject to authorisation. Interest rates subject to change.
##The lending establishment fee will be added to your loan amount. Please read full terms and conditions before making a decision to apply for a Westpac Personal Loan.
^^To qualify for a Car Loan, applicant must meet all credit criteria and the car offered as security must meet all criteria - either new or if used, cannot be older than 7 years at time of application, registered under the applicant’s name, has been made locally or imported by the manufacturer, has never been written off (even if it was repaired), has a paid, fully comprehensive insurance policy with Westpac noted as the financier and is for personal use only. If you’re using a Westpac Car Loan to buy an electric or hybrid car, check our list of eligible vehicles.
~4.99% p.a. (comparison rate 6.21% p.a.) available for eligible electric and hybrid car models only. Offer available for customers who apply, are approved and accept their contract by 29 August 2022. Offer may be varied or withdrawn at any time. Interest rates are subject to change.
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.