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Why choose a Westpac Unsecured Personal Loan?

The basics
  • Borrow $4,000 - $50,000 with no need to offer a car as security
  • Fixed interest rate range from 7.99% p.a. to 17.49% p.a. (comparison rate range from 9.18% p.a. to 18.62% p.a.^)
  • We can give you your personalised rate and estimated repayments before you apply, that's based on your credit score and the loan details you provide to us. Get my rate.
Extra benefits
  • Weekly, fortnightly or monthly repayments – to align with when you’re paid 
  • Set up a direct debit so you never miss a repayment.
  • A fixed rate means you’ll know what your repayments and loan end date will be
  • Already with Westpac? Once approved, sign your contract online and the funds will go to your account straight away.*

Get a personalised rate

without impacting your credit score

We give you a personalised rate and estimated repayments based on your credit score and the loan details you provide to us.

Get your personalised rate and an estimate of your repayments for an Unsecured Personal Loan by answering a few questions. If you already bank with us, sign in to save time.

Common questions about funding your home renovation

To an extent this will depend on the type of home renovations or improvements you’re planning (and how much you expect to spend).

If you’re asking ‘should I get a personal loan for home improvements?’, and by home improvements you mean upgrading furniture or appliances, repainting, working on the garden or even a new kitchen renovation or DIY project – and your borrowing costs are expected to come in between $4k and $50k, a personal loan such as our Unsecured Personal Loan could be an option.

But for larger upgrades like adding rooms or an entire floor, where the costs will be much higher than $50k, you might also want to consider increasing your home loan amount or a new loan with our construction option.

Repayment calculator

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

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

You can select a loan term between 1 and 7 years

Fixed rate from 7.99% p.a. to 17.49% p.a.

From 9.18% p.a. to 18.62% p.a.

The details

Our Unsecured Personal Loan comes with a fixed rate, meaning that you have the certainty of a set repayment amount throughout the life of the loan. You can also make extra repayments to pay off your loan faster, giving you the best of both worlds (prepayment fee may apply#).

Get your personalised rate before you apply.

Key rates and fees

Rate or fee Amount
Annual fixed rate range 7.99% p.a. to 17.49% p.a.
Comparison rate range 9.18% p.a. to 18.62% p.a.^
Lending establishment fee
Monthly loan account fee $12

Other fees and charges may be payable. 

Before you apply

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.


  • Be aged 18 years or over
  • Have a regular permanent income before tax of at least $35,000 p.a.
  • Be a citizen or permanent resident of Australia, or hold an acceptable visa (PDF 34KB)
  • If you’re a non-resident, have confirmed employment in Australia.

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).

Things you should know

Online Banking Terms and Conditions (PDF 236KB)

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. 

^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan 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.

  • 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 7.99% p.a. (comparison rate 9.18% p.a.), the estimated total amount payable including fees is $37,513. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 7.99% p.a. to 17.49% p.a. (comparison rate from 9.18% p.a. to 18.62% p.a.)

#Prepayment fee: If you choose a term greater than 2 years for a Westpac Personal Loan, 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.

*Access to funds within 60 minutes: Available for existing customers who are approved for an Unsecured Personal Loan. Loan funds will be disbursed into an existing Westpac transaction account 60 minutes from when e-contract acceptance has been received. Funds requested to be transferred to a non-Westpac account will take up to 3 days.

**Repayment calculator: Any calculations 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 into account a lending establishment fee that maybe charged for a personal loan application.  The calculation is not an offer of credit. The amount you can borrow may vary once 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.

##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.

Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.