Personal loans
Why choose our personal loans?
Loan terms to fit your budget
Choose a term so repayments fit your budget with our fixed rate loans, or keep it completely open with our Flexi Loan.
Know your rates and repayments
With our fixed rate loans you can get your rate quote in 5 mins and lock it in, without affecting your credit score. Get my rate
Fast funds
Approved funds are sent within the hour for our fixed rate loans*, or 15 minutes with our Flexi Loan.
Apply with confidence
Calculators
Quickly estimate your repayments and find out how much you could borrow.
Quick quote
Get your personalised rate and repayments in under 5 minutes without impacting your credit score.
Apply online
Calculate your personalised quote and repayments before you apply, then get a response in under 60 seconds.
Use our Borrowing Power Calculator to estimate the maximum amount you could borrow on a Personal Loan.
Borrow better with our Borrowing Power Calculator:
- Budget better - Find out how much you could borrow by answering a few simple questions.
- Plan better - Check the estimated repayments you'll need to make to repay your loan.
- Manage better - Whether you're covering an unexpected expense or a planned purchase, find out how a loan could impact your finances.
Tools & calculators
Choose a personal loan
No surprises
Fixed rate for the whole period of the loan.
Fast response
Apply now and you will get a response in 60 seconds.
Pay your way
Match your pay day with weekly, fortnightly and monthly repayments.
The details
Our Unsecured Personal Loan comes with a fixed rate, meaning that you have the certainty of a set repayment amount throughout the life of the loan. You can also make extra repayments to pay off your loan faster, giving you the best of both worlds (prepayment fee may apply#).
Review your personalised rate before you submit your application.
Key rates and fees
| Rate or fee | Amount |
|---|---|
| Annual fixed rate range | 7.99% p.a. to 20.49% p.a. |
| Comparison rate range | 9.18% p.a. to 21.61% p.a.^ |
| Lending establishment fee |
$250## |
| Monthly loan account fee | $12 |
Other fees and charges may be payable.
Fees that may 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 |
| Missed payment fee | $15 |
| Bank cheque fee | $10 |
Review your credit history
Check your ability to make loan repayments by completing a free credit report. To improve your credit history, make sure you're up to date with any obligations like credit cards, loans, rent or utilities, and avoid submitting multiple applications.
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 is correct as of 17 October 2024.
>>Repayment amount examples: help you understand the estimated weekly cost of a personal loan. All repayment amount examples are shown for a loan term of 7 years with a weekly repayment schedule using the average customer loan amount over the last 12 months. Information as of 20 March 2024.
- For an Unsecured Personal Loan based on a borrowing amount of $15,000 and term of 7 years with an interest rate of 16.99% p.a. (comparison rate of 18.12% p.a.), the weekly repayment amount including fees is $81.
- For a Car Loan based on a borrowing amount of $35,000 and a term of 7 years with an interest rate of 8.49% p.a. (comparison rate 9.67% p.a.), the weekly repayment amount including fees is $143.
- For an Electric Car Loan based on a borrowing amount of $50,000 and a term of 7 years with an interest rate of 5.99% p.a. (comparison rate 7.20% p.a.), the weekly repayment amount including fees is $187.
^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 7.99% p.a. (comparison rate 9.18% p.a.), the estimated total amount payable including fees is $37,513. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 7.99% p.a. to 20.49% p.a. (comparison rate from 9.18% p.a. to 21.61% p.a.)
- Car Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a personal loan of $30,000 borrowed for 5 years with the interest rate of 6.49% p.a. (comparison rate 7.69% p.a.), the estimated total amount payable including fees is $36,224. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 6.49% p.a. to 12.99% p.a. (comparison rate from 7.69% p.a. to 14.14% p.a.)
#Prepayment fee: If you choose a term greater than 2 years for a Westpac Personal Loan, 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.
##The lending 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.
*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 transaction account 60 minutes from when e-contract acceptance has been received. Funds requested to be transferred to a non-Westpac account will take up to 3 days.
1. Ongoing access to credit: Withdrawals are subject to authorisation. A $500 minimum applies.
2. The minimum monthly payment is the minimum amount you need to pay each month, which includes;
- The monthly loan account fee
- 2% of the statement's closing balance (excluding the monthly loan account fee) or the full closing balance if under $10, whichever is greater
- Any overdue amount owing, or the amount of your closing balance which exceeds your credit limit, whichever is greater.
^^To qualify for a Car Loan, applicant must meet all credit criteria and 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. The loan amount may exceed the vehicle's market value, as reported by Redbook, to cover the purchase price of the vehicle and other expenses. If you're using a Westpac Car Loan to buy an electric or hybrid car, check our list of eligible vehicles. (PDF 364KB)
~Car Loan for eligible Electric or Hybrid engine types is subject to an interest rate discount of 0.5% p.a., applied at the time of application. Electric and Hybrid Car Loan interest rate, inclusive of 0.5% p.a. discount, is 5.99% p.a (comparison rate 7.20% p.a.^)
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.