What you're applying for
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Flexi Loan
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Summary
Let's recap on your choice of a Flexi Loan.
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Overview
  • Access to credit on an ongoing basis without needing to reapply, to help manage cashflow[#]
  • Flexible repayment options (with a monthly minimum) rather than a set repayment schedule[#]
  • Access funds by transferring to a Westpac transaction account, or pay bills directly using BPAY®
  • Pay interest only on the amount you’ve used (and not your whole credit limit).
The important numbers
  • Credit Limit: $4,000 to $50,000
  • Fixed introductory interest rate: 10.49% p.a.[#]on the funds you use from contract activation and reverts to the standard variable rate of 18.99% p.a. after 6 months
  • Fees include a $150[#]establishment fee and a $12 monthly loan account fee (only charged on the months you use your account, or have a balance owing)
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Eligibility and what you'll need
You'll need to
  • Have a regular income
  • Be up-to-date with your regular repayments (rent or home loan, phone, credit cards and other loans etc.)
  • Be able to cover your expenses

Considerations

  • To apply online you must be an existing customer and have paid your regular income into a Westpac transaction or savings account for more than six months, or have a Westpac Home Loan
  • While you only need to make the minimum repayment, it can take longer to pay off loan balances unless you choose to make higher or additional repayments
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Confirm to continue with your application
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Yes, this is what I'm looking for
No, I want to look at something else
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Apply now
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Other options

A final check that this is the right credit option for you. A Flexi Loan can help with short-term cashflow shortfalls. However, there are instances where it’s worth considering another form of credit:

  • You need a payment tool to access funds for everyday purchases on an ongoing basis. In this case, view our Credit Cards.
  • You have a longer-term or specific borrowing need, like a car or home renovations. In this case, view our Personal Loans.
  • You want a fixed repayment schedule with a defined loan end-date. In this case, view our Personal Loans.
  • You're doing home renovations that will cost more than $70,000. In this case look at increasing your home loan, or a construction option.
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Things you should know
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