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Why choose a Westpac Unsecured Personal Loan?

  • Multiple borrowing and repayment options to keep you firmly in control.
  • Lock in your rate and know what your repayments will be for the life of the loan.
  • Choose your loan term of 1 - 7 years.
  • Apply for between $4,000 and $50,000 (conditions apply).
  • Choose your repayment frequency to suit when you get paid - weekly, fortnightly or monthly.
  • You could access your funds in a Westpac transaction account within 60 minutes of final approval, 24/7. 2
  • Make extra repayments to pay off your loan sooner (a prepayment fee may apply). 3

The rate you see is the rate you’ll get.

11.99% p.a. (comparison rate 13.15% p.a.^) for new Unsecured Personal Loans.

Yes, you will actually get our new, lowered rate once you’re approved. And it’s fixed, whether you choose to repay it over 1 year, 7 or somewhere in-between.

Credit criteria and T&Cs apply.

Common questions about debt consolidation

What is debt consolidation?

It’s the process of combining all of your existing debts (loans, credit cards etc.) into one new debt – such as a personal loan. When used as a debt consolidation loan, our Unsecured Personal Loan could help you better manage your loan repayments. That’s because the debts are all in one place, with one fixed interest rate, one set of fees and charges, one set of repayments and a clear end date to paying off that debt.

How does debt consolidation work?

It works by using the funds from the new loan to pay off all the other outstanding forms of debt you have in one go.

How to get a debt consolidation loan?

The first step is to understand how much you owe. You may want to bring together statements for all the debts you want paid off so you can factor in:

  • Amount owed on each
  • Estimate your total monthly repayment
  • Interest rate on each (or comparison rate if available)
  • Monthly (and other) fees on each
  • Any break costs

Then, head to our repayment calculator below to get an estimate of what the repayments might be.

Repayment calculator

This calculator helps you estimate how much your personal loan repayments could be. 4

You can borrow between $4,000 - $50,000

You can select a loan term between 1 and 7 years

The details

Fees that sometimes 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
Duplicate statement fee $2
Bank cheque fee $10
Information fee $10

Other fees and charges may be payable. Find out how you can minimise fees and charges on your loan.

How do I know if I'm eligible?

To be eligible to apply, you must:

  • Be aged 18 years or over
  • Have regular permanent income
  • Be a permanent resident of Australia or,
  • Hold an acceptable visa (PDF 38KB) and have confirmed employment in Australia, if you're a non-resident.


If you’re ready to apply or want to find out whether you hold an acceptable migrant visa (PDF 38KB), call our Personal Lending Centre on 1300 720 697.

This loan is for personal purposes.  If you’d like to learn more about our business loans, call Westpac Business on 132 142 (8am-8pm, Mon-Fri).

What information do I need to provide?

Please review our Identification Checklist for Individual Customers (PDF 768KB) before applying.

You will need to provide details of your current financial situation, including your:

  • Current employer’s name, address and phone number
  • Recent tax information, if you're self-employed
  • Weekly after-tax income for each person applying for the loan
  • Asset, savings and investment details
  • Other debts, such as credit cards, store accounts, etc.
  • Everyday expense details.


We may contact you using the details you provide to help you complete your application. If you’re already a Westpac customer, check that the details we have on record are up to date before proceeding. You can confirm these details in Westpac Online Banking or by calling 132 032. Allow 24 hours for records to update.

How can I apply?


Apply online in less than 10 minutes. You can use any device and return to complete your application within 14 days.

Over the phone

Apply over the phone by calling 132 651 (8am - 8pm, 7 days a week).

In person

Apply at your nearest branch.

What happens after I apply?

  • You can track the status of your loan application with our Online Status Tracker.
  • If we require further information to progress your application, we will contact you via phone or email.
  • If conditionally approved you may need to email documents to us for verification.
  • Once documentation is received and verified, you will be sent an email within 2 business days to view your contract and accept online. Note: Non-Westpac customers will be required to come into a branch to be identified after accepting their contract.
  • Tell us which account you would like the funds to be sent to. Allow 1 business day for the funds to be transferred to a Westpac account and up to 3 business days for a non-Westpac account.
Things you should know

Personal Loan Contract Terms and Conditions (PDF 127KB)

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

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 11.99% p.a. (comparison rate 13.15% p.a.), the estimated total amount payable including fees is $41,085.

^ Comparison rate information

Comparison rates help you understand the true cost of a loan. The comparison rate is based on an Unsecured Personal Loan with a loan amount of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given and may not include all fees and charges. 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.

Access to funds within 60 minutes

2. Access to Unsecured Personal Loan funds within 60 minutes from final approval is only available for existing Westpac customers, who apply as a single applicant online, with funds being disbursed into their own Westpac account.

More about choosing your loan term

3. Our Unsecured 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 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.

Repayment calculator disclaimer

4. Any calculation made by you using this calculator is intended as a guide only.  It is for illustrative purposes only and is based on the accuracy of the information provided.  The calculator does not take stamp duty or other government charges into account.  The calculation does not constitute an offer of finance from Westpac. Your borrowing power amount may be different when you complete a loan application and all the details relevant to our lending criteria are captured and verified.  The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan.

Westpac personal loans include St.George, Bank of Melbourne and BankSA.