The important numbers
|Borrow:||$4,000 to $50,000|
|Interest rate:||8.99% p.a fixed|
|Comparison rate:||10.17% p.a.^|
|Loan term:||1-7 years|
|Monthly service fee:||$12|
What you'll get
Funds for a range of personal uses e.g. buying a car, travel, debt consolidation or home improvements
No need to offer your car as security
A structured repayment schedule with a fixed interest rate and defined end date
Fast answer on conditional approval
Get your funds quickly after final approval*.
If you’re buying a car that’s less than 7 years old and are willing to offer it as security, our Car Loan could offer a lower interest rate^^
If you choose a loan term of more than two years, and fully repay that loan in less than two years, you’ll be charged a $175 prepayment (or early repayment) fee. Unless you’re refinancing the loan with another Westpac personal loan
Other fees and charges may apply#.
A final check that this is the right credit option for you. Personal loans can be a good way to secure a lump sum of money for a specific need. However, there are instances where it’s worth considering another form of credit:
You need a payment tool to access funds for everyday purchases on an ongoing basis. In this case, view our Credit Cards
You need ongoing help with short-term cashflow (and if applying online, already have a Westpac Home Loan, or paid your income into one of our transaction or savings accounts for over six months). In this case, view our Flexi Loan
Things you should know
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 correct as of 20 September 2021.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan 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.
- Unsecured Personal Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years with the interest rate of 8.99% p.a. (comparison rate 10.17% p.a.), the estimated total amount payable including fees is $38,388.
##The establishment fee will be added to your loan amount. Please read full terms and conditions before making a decision to apply for a Westpac Personal Loan.
#Other fees and charges may apply. Refer to Personal Loans for details.
*Access to funds within 60 minutes: Available for existing customers who are approved for an Unsecured Personal Loan. Loan funds will be disbursed into an existing Westpac account 60 minutes from final approval. Funds transferred to a non-Westpac account will take up to 3 days.
^^To qualify for a Car Loan, the car offered as security must meet all criteria - either new or if used, cannot be older than 7 years at time of application, registered under the applicant’s name, has been made locally or imported by the manufacturer, has never been written off (even if it was repaired), has a paid, fully comprehensive insurance policy with Westpac noted as the financier and is for personal use only.
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.