Summary

Enjoy a competitive fixed rate with the Bankwest Unsecured Personal Loan.

Bankwest does not offer personal loans

Bankwest no longer accepts applications for personal loans. Bankwest stopped accepting new personal loan applications in November 2024. The information on this page is no longer updated.

Planning for that dream holiday can be easier with the Unsecured Personal Loan from Bankwest, which offers a competitive fixed interest rate for loans of $3,000 or more. As this is an unsecured loan, you will not be required to put any of your assets up as security.

This loan is suitable to finance home improvements, buy a new boat, pay off existing debt or simply pay for a holiday. This loan offers a fixed repayment schedule, so you can choose how often your repayments are and how much you can afford to pay.

Pros

Unsecured loan - no risk of asset loss
Borrow money for any purpose within reason
Ability to make extra repayments

Cons

Ongoing monthly service fee of $5
Minimum loan amount of $3,000

Details

Product details

Product Name	Bankwest Unsecured Personal Loan
Interest Rate (p.a.)	10.99%
Comp. Rate (p.a.)	11.32%
Interest Rate Type	Fixed
Min Loan Amount	$3,000
Max. Loan Amount	$50,000
Loan Security	Unsecured

How does the Bankwest Unsecured Personal Loan works?

You can apply for any amount between $3,000 and $50,000 and have between 3 to 7 years to repay. This lets you choose the payment schedule so you know exactly what you're paying and how often you're paying it, with the opportunity to make additional repayments and redraw on those payments.

Bankwest also offers a Flexible Personal Loan to borrowers, so make sure to weigh the pros and cons of different loans to find the one that will bring you the most benefit.

How to apply

When you apply online with Bankwest you can get conditional approval within minutes. Click "Go to Site" to complete the loan application form.

So that you are approved for the loan that you want, you must:

Be over 18 years of age and in full-time employment
Be an Australian citizen or permanent resident
Have a regular permanent income
Not have an active personal loan application that has been conditionally approved.

In order to prove that you meet the requirements, be prepared to provide the following documentation:

Personal details. Your name, address and contact details will be needed.
Identification. You'll also need at least two documents to identify yourself, your driver's licence, passport, Medicare card or Australian birth certificate
Employment details. Ensure that you have your employer's name, number and other contact details. You will also be asked to provide information about the length of your employment.
Financial details. You will be asked to provide evidence regarding your current income, assets and expenses.

An Unsecured Personal Loan from Bankwest can offer you the freedom to get the funding you need. Remember to compare the interest rates, fees, eligibility requirements and other features of various lending options to find the best loan for you.

Features of this Loan

Fixed interest rate. The Bankwest Unsecured Personal Loan offers a fixed interest rate of 10.99% p.a., with a comparison rate of 11.32% p.a. calculated on a $10,000 loan over a period of 3 years.
Fees. This loan has a one-time application fee of $0 and an $5 monthly account-keeping fee for the life of your loan.
Additional repayments. You are able to make additional repayments at any time without penalty. An early repayment fee does apply if the loan is paid off in the first 24 months.
Repayment options. You can choose to make repayments on a weekly, fortnightly or monthly basis to suit your budget.
Redraw facility. You can redraw on any additional payments you make during the loan online.
Loan amount. Choose an amount anywhere from $3,000 to $50,000.
Loan terms. You can borrow funds for a terms of between 3 to 7 years.
Loan insurance. Bankwest also offers credit protection insurance to cover you if you are unable to make your repayments on time.
Same-day approval for existing customers. Existing Bankwest customers with at least three months salary deposited in their account can qualify for same-day funding approval. You will need to apply by midday on a business day, have submitted a complete application and not be applying for a secured loan with a guarantor attached.

Compare other personal loans

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan Finder award winner Fixed18 Months - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.75% to 26.95%	Comp. Rate (p.a.) 6.75% to 26.95%	Application Fee $0	Monthly Fee $0	Monthly Repayment $922.89	Go to site More Info Compare
OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$75,000) Finder award winner Fixed1 - 7 Years $5,000 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee 1.50% - 6% min. $250	Monthly Fee $0	Monthly Repayment $934.23	Go to site More Info Compare
Harmoney Unsecured Personal Loan Finder award winner Fixed3 - 7 Years $2,000 - $70,000	Interest Rate (p.a.) 5.76% to 24.03%	Comp. Rate (p.a.) 6.55% to 24.98%	Application Fee $275 - $575	Monthly Fee $0	Monthly Repayment $926.83	Go to site More Info Compare
Latitude Variable Rate Personal Loan Variable2 - 7 Years $5,000 - $70,000	Interest Rate (p.a.) 9.49% to 29.99%	Comp. Rate (p.a.) 10.37% to 30.69%	Application Fee $0	Monthly Fee $13	Monthly Repayment $973.85	Go to site More Info Compare	Special Finder offer: $395 establishment fee waived for approved personal loan applications submitted through Finder. Latitude may withdraw offer at any time. T&Cs apply.
NAB Personal Loan Unsecured Fixed Fixed1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.88% to 21.78%	Application Fee $250	Monthly Fee $15	Monthly Repayment $969.78	Go to site More Info Compare
NAB Personal Loan Unsecured Variable Rate Variable1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.88% to 21.78%	Application Fee $250	Monthly Fee $15	Monthly Repayment $969.78	Go to site More Info Compare