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Accessing extra funds

I want to make a purchase. We have a range of lending options to suit your needs.

Credit cards

Your credit card is a convenient option to use for small purchases. And don’t forget to time your purchase so you take advantage of the interest free period that’s available on most of our cards when you pay the closing balance in full by the statement due date each month. If you would like  to increase your credit limit , you can make a request and apply using Westpac Online Banking or over the phone.

Personal overdrafts

A Personal Overdraft allows you to control your expenditure while giving you financial flexibility. It’s a convenient way of making sure you have enough money in your account at all times.

Personal loans

If you’re buying a new or used car or a boat, you have the option of applying for a car loan or a boat loan. For other personal items for your personal use, consider a secured personal loan. For each of these secured loans, we register our interest in the asset you’re buying as security for your loan, and this keeps the interest rate down.

Alternatively, you also have the option to  apply for an unsecured personal loan. With an unsecured personal loan, your assets are not used as security, so the amount you are able to borrow is less and the interest rate is higher.

Unsecured loan amounts range from $4,000 to $50,000; secured loan and car loan amounts range from $4,000 to $100,000 while boat loan amounts range up to a maximum of $70,000.

Home loan customers

If you have a home loan with us, we may be able to help you fund your purchases even more cost effectively, at the home loan interest rate.

If you’ve built up extra funds in your home loan, you may be able to redraw those funds at your convenience. You could also apply to increase the credit limit on your existing home loan, subject to our normal lending criteria. This feature is available on all of our variable rate home loans.

If you need a larger amount, over $25,000, you can apply to increase your existing home loan and, if approved, use the equity in your property as a source of funds. You’ll be able to access up to 80% of the value of your property to renovate, make investments or do whatever is important to you.

If you’re looking to buy a property, read up on Buying Property.

Review your options


Things you should know

Important: Applications for credit are subject to Westpac's normal lending criteria.