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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 Annual rate Comparison rate Rate Type
Car Loan 7.49% p.a. 8.68% p.a.^ Fixed
Westpac Flexi Loan 16.49% p.a. N/A Variable
Unsecured Personal Loan 9.99% p.a.~ 11.16% p.a.^ Fixed

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).
 

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.

 

Unarranged Lending Rate

Things you should know

Overdraft Terms and Conditions (PDF 1MB)


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 23 March 2021.


~2% interest rate discount: Important information current as at 23 March 2021. This offer is only available to a customer who applies for a Westpac Unsecured Personal Loan, is approved and accepts their loan contract by 18 May 2021. Loan application can be submitted via the ‘apply online’ application link, by calling 1300 720 697 or by visiting a branch. Offer is not available when refinancing an existing Westpac Personal Loan. Eligible customers will receive a discounted fixed interest rate of 9.99% p.a. (comparison rate 11.16% p.a.) on a new Westpac Unsecured Personal Loan, which represents a 2% p.a. discount on the current advertised rate of 11.99% p.a. (comparison rate 13.15% p.a.). This offer is open to single applicants only. This offer cannot be used in conjunction with any other offer and may be varied or withdrawn at any time. All other fees are outlined on Westpac Unsecured Personal Loan. Please read the Terms and Conditions (PDF 127KB), including the Internet and Phone Banking Terms and Conditions (PDF 277KB), before making a decision and consider whether the product is appropriate for you. If you need help, please call 1300 720 697.


^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 9.99% p.a. (comparison rate 11.16% p.a.), the estimated total amount payable including fees is $39,274.
  • 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 7.49% p.a. (comparison rate 8.68% p.a.), the estimated total amount payable including fees is $37,080. 

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