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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.



The easiest way to make a withdrawal is to transfer funds into your Westpac transaction or savings bank account. You can still withdraw funds if you don't have an account – simply choose from the available Westpac Flexi Loan Withdrawal Options (PDF 28KB).

Each Flexi Loan has a set credit limit but no fixed term or end date. You can withdraw from your Flexi account up to your credit limit and repay in your own time, provided you make the minimum monthly repayment.

This makes the loan more flexible than loans with a fixed term. If your approved credit limit is more than you need, simply withdraw the amounts you want to use as required. You’ll then have further funds available to draw on at a future date, up to your credit limit.

Alternatively, you can reduce the approved credit limit to an amount that suits you above the minimum of $4,000.

For each withdrawal, you can choose one of 2 repayment options:

Term Plan

Choose a time-frame (or term) between 1 and 5 years, in which you aim to repay the amount you've withdrawn in full.

Base Plan

Choose a different amount to repay each month depending on your budget, provided you meet that month's minimum monthly repayment. These payments continue until you have paid back the loan funds used.

Whichever option you choose, you can change the repayment amount at any time, provided you meet the minimum monthly repayment.

The minimum monthly repayment on your Flexi Loan is equal to:

  • 2% of the closing monthly unpaid balance (rounded up to the nearest dollar) or $10 – whichever is greater, plus
  • The greater of any unpaid past due amounts from previous statements, or any amount that exceeds the credit limit.

Reduce the hassle of remembering to make monthly repayments by setting up a Westpac Flexi Loan Direct Debit (PDF 60KB). You can also make repayments using:

  • Westpac Online Banking
  • Westpac Telephone Banking
  • BPAY®
  • In person at any Westpac branch.

The details

How can I apply?


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. Otherwise, call 1300 720 697 or visit a branch.

Over the phone

Apply over the phone by calling 1300 720 697 (8am – 8pm Sydney Time, Monday to Friday.  9am – 6pm Sydney Time, Saturday & Sunday).

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.

Before you apply

Follow this section to improve the likelihood your application is approved. 


You’ll be assessed on your ability to repay the money you borrow. Three things you can do to help:

  1. Make sure you’re meeting your current repayment obligations for
    • other credit cards or loans (including lenders such as afterpay and zip pay)
    • rent as well as utilities such as your phone, internet and electricity.
  2. Check the details on your credit report are correct before applying. Head to and follow the links to a free credit report. More about credit reports.
  3. Don’t make multiple applications (with us or any other lender). Every application is listed as an enquiry on your credit report. Too many can be seen as a red flag and reduce your chances of approval.

Make sure you have everything in the list below:

  • Current debts in your name (e.g. home loan, personal loans, other credit or store cards as well as instalment purchases such as zip pay) 
  • Proof of income. If your pay doesn’t already go into a Westpac account, you’ll need to show at least one of the following:
    • Two payslips from your main employer from the last two months
    • A Government Authority statement from the last two months confirming your pension or allowance 
    • Rental income proof covering the last three months
    • Self-employed? You’ll need to show you’ve been in business for at least 18 months, the last two months’ business bank statements and last year’s Notice of Assessment.
  • All your regular monthly expenses (including phone bills, insurances etc.)


If you’re already a Westpac customer, you’ll also need to:

  • Sign into online banking to double-check your personal details (name, address etc) are up-to-date
  • Apply as an existing customer in the application form
  • We will have answered some of the basic questions such as personal details (name, address etc) on your application for you. Check that they’re correct.


Additional eligibility criteria or documentation may be required.

Things you should know

Flexi Loans Conditions of Use (PDF 244KB)

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 20 September 2021. 

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.