Personal loan interest rates
Looking for a personal loan with a low interest rate? Our personal loan rates are competitive and come with flexible options to help you achieve your dreams.
| Loan | Interest rate | Comparison rate | Rate Type |
|---|---|---|---|
| Car Loan | 5.99% p.a. to 12.99% p.a. | 7.20% p.a. to 14.14% p.a.^ | Fixed |
| Electric or Hybrid Car Loan | 5.49% p.a. to 12.49% p.a.~ | 6.70% p.a. to 13.65% p.a.^ | Fixed |
| Westpac Flexi Loan | 16.99% p.a. | N/A | Variable |
| Unsecured Personal Loan | 7.99% p.a. to 20.49% p.a. | 9.18% p.a. to 21.61% p.a.^ | Fixed |
Get your personalised rate before you apply.
Save more with free charging and a discounted rate~
Our Car Loan offers a discounted rate and up to $750 of free charging on eligible electric vehicles for up to 12 months.3
That's enough for over 7,000km of driving. Or, from Melbourne to Cairns and back.
Personal loan comparison rates
The comparison rate is a tool that may help you compare the true cost of a loan.
While the interest rate is a major component, it’s not the only cost. There are other fees and charges that affect the true cost of the loan. The comparison rate includes in its calculation the interest rate and some of the fees and charges that may be payable with a loan reduced to a single rate.
You should be aware that different 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.
Fees and charges are not the only factors to consider when deciding on the best loan for you. The features that each personal loan offers may also be important when making your decision.
Looking for overdraft interest rates?
Personal and Temporary Overdrafts are linked to a transaction account and you only pay interest on funds used (when fees and charges are paid on time). Please note Personal Overdraft and Temporary Overdraft are no longer for sale.
The Unarranged Lending Rate (ULR) is charged to a transaction account if it becomes overdrawn without arrangement. It will be calculated daily on the debit balance (and deducted on the last business day of each month) using the then current ULR until the account balance is positive again.
Rates are current as at 11 August 2015 and are subject to change.
| Loan | Overdraft amount | Rate (variable) |
|---|---|---|
| Personal Overdraft | $250 to $25,000 | 12.09% p.a. |
| Temporary Overdraft | $250 to $50,000 | 14.09% p.a. |
Things you should know
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 is correct as of 1 November 2023.
3. Electric car charging offer: Receive 1,250-kWh charging limit to use for up to 12 months across the Australian Chargefox public charging network. After 12 months from offer activation or when the 1,250-kWh charging limit has been reached, charging costs will apply. This offer is available on a Westpac Car Loan that has been approved for a verified eligible electric car and e-contract acceptance confirmed. Within 30 days of e-contract acceptance, a unique voucher will be sent to the email address on the approved Car Loan application with activation instructions and expiry date. Offer is subject to change or be withdrawn at any time.
Example kilometres of over 7,000kms is based on average 15-20-kWhs per 100 kms and should be used as an example only. Car battery size, driver behaviour, temperature and other variables will affect the distance performance. Up to $750 of free charging value is based on $0.60 cost per kWhs for Ultra-rapid charging stations. kWh pricing may be higher or lower depending on the type of charger used. For more information visit https://www.chargefox.com/announcing-a-price-change-to-20-fast-charging-chargefox-stations/
^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 20.49% p.a. (comparison rate from 9.18% p.a. to 21.61% p.a.)
- Car Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a personal loan of $30,000 borrowed for 5 years with the interest rate of 5.99% p.a. (comparison rate 7.20% p.a.), the estimated total amount payable including fees is $35,801. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 5.99% p.a. to 12.99% p.a. (comparison rate from 7.20% p.a. to 14.14% p.a.)
~Car Loan for eligible Electric or Hybrid engine types is subject to a 0.5% discount on your personalised interest rate, applied at the time of application. Electric and Hybrid Car Loan interest rates range from 5.49% p.a. to 12.49% p.a. (comparison rate 6.70% p.a. to 13.65% p.a.^)
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.