Skip to main content Skip to main navigation
Skip to access and inclusion page Skip to search input

From Friday 20th August 2021, we will no longer be offering a Temporary Overdraft for personal bank accounts. 

If you’d like a Temporary Overdraft, you’ll need to have completed an application either in-branch or via our call centre before 20th August 2021. You will still be able to call 1300 720 697 to track your application progress after this date. 


14.09% p.a. variable interest rate

A temporary personal overdraft is an unsecured loan (up to an agreed limit) that forms part of your everyday Westpac Choice bank account balance to help cover short-term financial shortfalls for up to 45 days.

  • Temporary overdrafts – from $250 to $50,000
  • Only pay interest on funds used (when fees and charges are paid on time)
  • Being linked to your Westpac Choice bank account means you have multiple ways to access funds, even with a Westpac Debit Mastercard®
  • Temporary overdraft interest rate - 14.09% p.a. variable
  • Pay interest only on the money you use, when fees and charges are paid on time
  • No security required for a temporary overdraft
  • $0 service fee when you spend within the agreed temporary overdraft limits and repay on time (other fees may apply).

A temporary overdraft cannot be used for:

To be eligible for a temporary overdraft, you need to:

  • Be at least 18 years old and
  • Be a permanent resident of Australia
  • Have proof of regular income and have banked with us for at least 6 months
  • Have a Westpac Choice bank account, have made regular deposits (like a salary) for at least 6 months, and abided by its Terms and Conditions
  • Have a good credit history with no defaults or bankruptcies.

How to apply

Conditional approval could be given on the spot. However, we’ll also need to establish your ability to repay the temporary overdraft in full at the end of the term.

Things you should know

See our full terms and conditions (PDF 450KB). Terms and conditions may be varied or new terms and conditions introduced in the future.

Variable rate may change without notice. Conditions, fees and lending criteria apply. Details available on request.

Other fees and charges apply as set out in the terms and conditions for your linked account. These fees may be related to the way you access your funds through your linked account or because of the impact on that account of your not meeting the overdraft terms and conditions. Fees may change.

BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.