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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 I 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.

The details

Key rates and fees

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


Fees that sometimes apply

Fee Amount
Missed payment fee $15
Redraw NIL
Bank cheque fee $10
Over limit fee $15

COVID-19 has impacted the time it takes to process and follow up on incomplete applications. To ensure we assess your application in a timely manner, please read the following sections carefully before applying.

How do I know if I'm eligible?

Applicants 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 they are a non-resident.


If you're applying online, you also need to have used a Westpac transaction account to receive your salary for the past 2 years or be a Westpac Home Loan customer.

If you’d like to find out whether your visa qualifies you or want to apply for a personal loan under an acceptable migrant visa (PDF 38KB), please call our Personal Lending Centre on 1300 720 697 to discuss.

This loan must be mainly for personal use. Call Westpac Business on 132 142 (8am-8pm, Mon-Fri) to find out more about business loans.


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. This will include your:

  • Current employer’s name, address and main switchboard 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
  • Amounts owing on your credit cards, store accounts, etc.
  • Details of other expenses.


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 by calling 132 032 or in Westpac Online Banking. Allow 24 hours for records to update.


How can I apply?


Customers who hold a Westpac Home Loan or have had their salary deposited into a Westpac account for the past 2 years can apply online in less than 10 minutes.

Over the phone

Apply over the phone by calling 1300 720 697 (8am - 8pm, 7 days a week).

In person

Apply at your nearest branch.


What happens after I apply?

If you meet the credit criteria and are approved for a Flexi Loan, you will receive your contract by email and could have access to funds within 15 minutes of acceptance (provided you're registered for online banking). If you are not registered for online banking, you will need to go to your nearest branch to access the funds.

Things you should know

Flexi Loans Conditions of Use (PDF 167KB)

Any advice on this website is general in nature and has been prepared without considering your objectives, financial situation or needs. Please consider your individual circumstances before applying for a Westpac Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information correct as of 16 July 2020.

1. Redraw Facility is available on Flexi Loan only. Withdrawals subject to authorisation. Interest rates subject to change.

##The establishment fee will be added to your loan amount. Other fees and charges may be payable. 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.