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Why choose a Westpac Unsecured Personal Loan?

  • Pay no establishment fee when you apply for a new unsecured personal loan (usually $250)*, available to single applicants only. Offer ends 14th June 2018.
  • Plan ahead with a flexible loan term of between 1 and 7 years.
  • Apply for between $4,000 and $50,000 (conditions apply).
  • Make extra repayments to pay your loan off sooner (prepayment fee may apply). 2
  • Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly.
  • You could access your funds in a Westpac bank account within 60 minutes of final approval, 24/7. ^

$0 Establishment Fee

Apply for a new Unsecured Personal Loan and we’ll waive the establishment fee (normally $250)*. Offer ends 14 June 2018, available to single applicants only.

Apply now


How could you use this loan?

Simplify your finances
Consolidate debts to a single loan, with one regular repayment, rate and set of fees.

Travel
Turn your plans into an itinerary and get to where you’ve always dreamt of going.

Renovate
Secure the funds you need to help bring your grand designs to life.

Do something else
Whether it's your big day, school fees or a dream purchase, our Unsecured Personal Loan could help.

 


Repayment calculator

This calculator helps you estimate how much your personal loan repayments could be. 3

You can borrow between $4,000 - $50,000

You can select a loan term between 1 and 7 years

Fees that sometimes apply

Fee Amount
Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan). $175
Declined direct debit fee $9
Missed payment fee $9
Duplicate statement fee $2
Bank cheque fee $10
Information fee $10

Other fees and charges may be payable. Find out how you can minimise fees and charges on your loan.

Optional Personal Loan Protection insurance

What happens if you suddenly lose your job or become unfit for work through illness or injury? Financial commitments continue even if your income doesn’t. That’s where Westpac Personal Loan Protection can help.

  • Depending on individual circumstances, it can cover personal loan repayments until you recover and get back to work.
  • It also helps cover repayments in the event of your death.
  • Premiums are included as part of the amount you borrow and so are covered in your personal loan repayments.
  • You can apply for Westpac Personal Loan Protection when you apply for your Unsecured Personal Loan.


Conditions, limits and exclusions apply. These are explained in the policy wording Personal Loan Protection Product Disclosure Statement (PDF 204KB). Please read the detail before deciding.

How do I know if I'm eligible?

To be eligible to apply, you must:

  • Be aged 18 years or over
  • Have regular permanent income
  • Be a permanent resident of Australia or,
  • Hold an acceptable visa (PDF 181KB) and have confirmed employment in Australia, if you're a non-resident.

 

If you’re ready to apply or want to find out whether you hold an acceptable migrant visa (PDF 181KB), call our Personal Lending Centre on 1300 720 697.

This loan is for personal purposes.  If you’d like to learn more about our business loans, call Westpac Business on 132 142 (8am-8pm, Mon-Fri).
 

What information do I need to provide?

Please review our Identification Checklist for Individual Customers (PDF 768KB) before applying.

You will need to provide details of your current financial situation, including your:

  • Current employer’s name, address and phone number
  • Recent tax information, if you're self-employed
  • Weekly after-tax income for each person applying for the loan
  • Asset, savings and investment details
  • Other debts, such as credit cards, store accounts, etc.
  • Everyday expense details.

 

We may contact you using the details you provide to help you complete your application. If you’re already a Westpac customer, check that the details we have on record are up to date before proceeding. You can confirm these details in Westpac Online Banking or by calling 132 032. Allow 24 hours for records to update.
 

How can I apply?

Online

Apply online in less than 10 minutes. You can use any device and return to complete your application within 14 days.

Over the phone

Apply over the phone by calling 132 651 (8am - 8pm, 7 days a week).

In person

Apply at your nearest branch.
 

What happens after I apply?

  • You can track the status of your loan application with our Online Status Tracker.
  • If we require further information to progress your application, we will contact you via phone or email.
  • If conditionally approved you may need to email documents to us for verification.
  • Once documentation is received and verified, you will be sent an email within 2 business days to view your contract and accept online. Note: Non-Westpac customers will be required to come into a branch to be identified after accepting their contract.
  • Tell us which account you would like the funds to be sent to. Allow 1 business day for the funds to be transferred to a Westpac account and up to 3 business days for a non-Westpac account.
Things you should know


Personal Loan Contract Terms and Conditions (PDF 128KB)

Personal Loan Protection Product Disclosure Statement (PDF 204KB)

Credit criteria, fees, charges, terms and conditions apply.

Access to funds within 60 minutes

^ Access to Unsecured Personal Loan funds within 60 minutes from final approval is only available for existing Westpac customers, who apply as a single applicant online, with funds being disbursed into their own Westpac account.

Comparison rate information

1. The comparison rate of 14.14% p.a. is based on an Unsecured Personal Loan with a loan amount of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. 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.

Westpac personal loans are part of the Westpac group, including St.George, Bank of Melbourne, BankSA and Westpac.

More about choosing your loan term

2. Our Unsecured Personal Loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan.

More about Personal Loan Protection

Personal Loan Protection is issued by the insurers who are Westpac General Insurance Limited ABN 99 003 719 319 (WGIL) and Westpac Life Insurance Services Limited ABN 31 003 149 157 (WLIS) each of which is liable for separate risks under the terms of the policy. This insurance product is distributed by Westpac Banking Corporation ABN 33 007 457 141 (the Bank). The policy is not an investment in or deposit with the Bank. No Westpac Group company (other than the Bank as policy distributor and WGIL and WLIS as the product issuers) has any liability in connection with the policy or this document. The Bank does not guarantee payments under the policy.

Example Loan repayment

Unsecured personal loan repayment terms range from 1 to 7 years. As an example, based on an unsecured loan of $30,000 borrowed for 5 years with the minimum interest rate of 12.99% p.a. (14.01% p.a. comparison rate), the estimated total amount payable including fees is $41,888. WARNING: This comparison rate applies only to the example or examples given and may not include all fees and charges. 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.

Repayment calculator

3. Any calculation made by you using this calculator is intended as a guide only.  It is for illustrative purposes only and is based on the accuracy of the information provided.  The calculator does not take stamp duty or other government charges into account.  The calculation does not constitute an offer of finance from Westpac.

* $0 Establishment fee offer: The offer is open to all customers who complete an application for a new Westpac Unsecured Personal Loan between 1 May 2018 to 14 June 2018. If approved, the Establishment fee will be waived. This offer is open to single applications only. Joint applications are excluded from this offer. This offer cannot be used in conjunction with any other offer and may be varied or withdrawn at any time. All other fees outlined on the product page and in the product disclosure statement apply.