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Never miss a loan repayment

If you haven't already set up automated repayments, or want to adjust them at a later date, here's how to do it.

Whichever option you choose, check either your loan contract, or check in Account details in Online Banking or the Westpac App, to make sure the repayment amount is paid in full by each due date.


In Online Banking

  1. Select Transfer funds > All options > Recurring payment
  2. Complete all fields as indicated
  3. Select Continue
  4. After checking your repayment schedule, select Confirm

In the Westpac App

Before starting, make sure you are using the latest version of the app.

  1. Tap $ then Transfer between accounts
  2. Tap your From account, then your To (personal loan) account
  3. Enter the repayment amount and (optional) description
  4. Tap Schedule for (Start date and how often), then Done
  5. After checking, tap Transfer

Direct Debit (for monthly repayments only)

Complete the Personal Loan direct debit form (PDF 46KB) and email it to:

Complete the Flexi Loan direct debit form (PDF 642KB) and email it to:

If you’re amending payment details from a Direct Debit you’ve already set up, simply call us through the mobile app. It’s the fastest way. Tap Contact us Your loans > Personal loan.

Three quick repayment tips

These tips could help make sure you keep your loan - and your credit score - in good order.

 Make your repayments on time

Nobody wants to miss a repayment – especially when it comes with a $15 missed payment fee and could impact your credit rating. If you’re not automating repayments for your loan, it’s worth adding a reminder in your calendar to make sure you never miss a beat.

 Have enough in the account you’re paying from

It might sound obvious, but it’s worth checking the balance of the account you’re transferring from before each repayment is due. That way you won’t either overdraw the account the funds are coming from, or have a repayment withheld due to lack of funds. One option is to add a note to a repayment reminder on your calendar.

 Adjust automated payments when things change

If your pay frequency, or the day you’re paid changes, be sure to adjust accordingly in your automated payments (or reminders). Being up-to-date is an easy way to stay in complete control. 

Top FAQs

Your loan offer document will advise you what your monthly repayment amount is and what date it’s due each month.

Even though months don’t have an equal number of days and don’t align perfectly with weeks and fortnights, that monthly repayment amount and due date doesn’t change.

So whether you’re planning monthly, fortnightly or weekly repayments, the easiest way to be sure you make those monthly repayments on time, is to use simple division, rounding up the cents if you need to. i.e:

Fortnightly repayments = Monthly repayment amount divided by 2

Weekly repayments = Monthly repayment amount divided by 4

Things you should know

Personal Loan Contract Terms and Conditions (PDF 394KB) - for customers approved before 18 March 2024.
Personal Loan Contract Terms and Conditions (PDF 210KB) - ​for customers who apply, or are approved, on or after 18 March 2024.​

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 20 March 2024.

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

Flexi Loan customers: You're required to pay a minimum monthly repayment which is 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.