Unsecured Personal Loan
Looking to consolidate debt, renovate your home or go travelling? A personal loan could get you there sooner^.
- Applying online usually takes less than 10 minutes to complete
- Get a response in 60 seconds
- Borrow between $4,000 and $50,000 (conditions apply)
- A fixed interest rate of 12.99% p.a. (comparison rate of 14.01% p.a.1) available for new loans only
- Flexible loan terms from 1 to 7 years^
- You can refinance an Australian, non-Westpac Personal Loan, credit card or store card.
Borrowing Power Calculator
Find out how much you can afford to borrow before you apply with our Borrowing Power Calculator.
Apply from any device
You can start and complete your Personal Loan application on any device. You can return to and complete unfinished applications made online within 14 days.
|Loan||Annual rate||Comparison rate|
|Unsecured personal loan||12.99% p.a.||14.01% p.a.1|
Fees and charges
|Establishment fee (added to your loan amount)||
|Monthly service fee||$10|
|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||$7.50|
|Bank cheque fee||$10|
Other fees and charges may be payable. Find out how you can minimise fees and charges on your loan.
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.
An Unsecured Personal Loan could be used for:
- Consolidating debt
- Refinancing an Australian non-Westpac loan, credit card or store card
- Home renovations
- Other personal aspirations.
Westpac Unsecured Personal Loan - eligibility
- Aged 18 years or over
- Have regular permanent income
- You need to be a permanent resident of Australia or,
- Non-residents: need to hold an and have confirmed employment in Australia.
What information do I need to provide?
- Details of your current financial situation
- We may use the contact information that you give us to contact you to help 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 by calling 132 032 or in Westpac Online Banking. Allow 24 hours for records to update.
Ways to apply?
- Online - usually takes less than 10 minutes. You can use any device and can come back to your application within 14 days to complete
- Over the phone by calling 132 651 (8am - 8pm, 7 days a week)
We give conditional approval immediately and a final decision as soon as we receive all required information
- In person - at your nearest branch.
What happens after you’ve applied?
- 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
Credit criteria, fees, charges, terms and conditions apply.
Comparison rate information
1. The comparison rate of 14.01% 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.
More about choosing your loan term
^ 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.