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Why choose a Flexi Loan?

With a Westpac Flexi Loan, you can:

  • Withdraw funds whenever you need them, without reapplying 1
  • Pay interest only on what you've used – not your whole credit limit
  • Repay what you like each month, over the monthly minimum repayment
  • Transfer funds from your Flexi Loan account to a transaction account or pay bills directly using BPAY®.

How does Flexi Loan work?

A Westpac Flexi Loan is a line of credit that gives you:

  • A dedicated account with a credit limit of $4,000-$50,000
  • An interest rate of 16.49% p.a. on the funds you use
  • Term plans to help you plan to repay what you borrow
  • A flexible way to access credit that’s ready when you are.

Please note: You need a higher level of discipline to pay off the loan principal on a Flexi Loan than with other loan types. Use our Personal Loan selector to check that Westpac Flexi Loan suits your needs.

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

How could you use this loan?


Fund several smaller purchases to support large or ongoing projects, such as home renovations.


Cover large expenses, such as flights and accommodation, or daily expenses while you’re away.



Planning your big day? Be ready when you find the ring, the dress, the venue and the florist.


A mix of things

If you’re working on a number of projects, you could use a Flexi Loan to cover costs for any or all of them.



You can withdraw funds from your Flexi Loan as many times as you like, up to your available credit limit, as long as you are up to date with your repayments.

The details

Key rates and fees

Rate or fee Amount
Annual variable rate 16.49% p.a.
Lending establishment fee $150##
Monthly loan account fee (only charged once you start using the loan) $12

Fees that may apply

Fee Amount
Missed payment fee $15
Redraw $0
Bank cheque fee $10
Overlimit fee $15

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.
Things you should know

Flexi Loans Conditions of Use (PDF 173KB)

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 19 May 2022. 

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.

BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.