Personal Overdraft
Essentials
12.09% p.a. variable interest rate
A personal overdraft is an unsecured loan (up to an agreed limit) that forms part of your everyday Westpac Choice bank account that can help cover some of life’s unexpected financial emergencies.
- Overdraft loans - from $250 to $25,000
- 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 including with a Westpac Debit Mastercard®
- Overdraft interest rate – 12.09% p.a. variable1
- No security required for a personal overdraft
- $0 lending establishment fee; and $6 monthly loan account fee (other fees may apply).
Access your personal overdraft funds through your Westpac Choice bank account using:
- Online, Mobile, Telephone and Tablet Banking
- EFTPOS
- Debit Mastercard
- Cheque
- BPAY®
- In branch
Westpac Debit Mastercard
A Debit Mastercard linked to your Westpac Choice account will let you shop online, over the phone in Australia and overseas using your own money. You can also withdraw cash at millions of locations worldwide where Mastercard is accepted.
Debit Mastercard holders need to be at least 18 years of age, and have an Australian residential address.
Things you should know
See our full terms and conditions (PDF 650KB) or contact us. Terms and conditions may be varied or new terms and conditions introduced in the future.
1. Interest is charged daily and is charged on the balance owing on your account for the end of that day if it is a debit balance. If the balance owing on your account exceeds the overdraft limit (or if a transaction would cause this to happen) we may, without notice, decline, stop or reverse the transaction or we may choose to honour the transaction. You will be charged a fee when we exercise our discretion to honour the transaction. If the overdraft limit is exceeded, you must immediately repay the excess. Higher interest charges (referred to as the “annual interest rate for excess amount” on your statement) may apply until you do so.
Variable rate may change without notice. Conditions, fees and normal lending criteria apply. More product details are available on request.
Debit Mastercard holders need to be at least 18 years of age, and have an Australian residential address.
World Mastercard®, Mastercard® and the Mastercard brand mark are registered trademarks, and PayPass is a trademark of Mastercard International Incorporated.
BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.