Westpac offers a range of personal loans for a variety of purposes. You can opt for a unsecured personal loan with interest rates starting from 7.99% p.a., or use the flexi loan like a line of credit. Interest rates for flexi loans are higher, starting from 16.99% p.a.
Compare Westpac personal loans
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We currently don't have that product, but here are others to consider:
How we picked these
Flexi Loan. This loan allows you to withdraw funds up to an agreed-upon limit without reapplying, working like a line of credit rather than a traditional personal loan. This is an option for borrowers looking for flexibility. The Flexi Loan has a credit limit of between $4,000 and $50,000 so it is useful for a variety of purposes. Westpac charges no fee for additional withdrawals and there is no early repayment fee.
Personal Loan. This is designed for individuals who want to have a fixed interest rate loan. It is an unsecured loan that can be used for a variety of reasons such as home renovations, education expenses or a car purchase. Terms of between 1 year and 7 years are available, and you can apply for between $4,000 and $50,000. It's also possible to repay your loan faster, but if you have loan terms of longer than two years and pay back the loan within those two years, a $175 fee applies. This fee is waived if you refinance to another personal loan from Westpac.
Car Loan. Looking to buy a new or used car? A Westpac car loan features fixed interest rates and repayment terms of between 1 year and 7 years. You can borrow between $10,000 and $100,000 to buy a car which will be used as the security for the loan. Keep in mind there's a set-up fee of $250 and a monthly service fee of $12.
What do Australians think of Westpac personal loan?
3.73/5 overall for Customer Satisfaction - lower than the average of 4
3.82/5 for Trust - lower than the average of 4.2
3.78/5 for Customer Service - lower than the average of 4.05
Flexible repayment terms. You have the choice of paying weekly, fortnightly or monthly to suit your budget.
Revolving credit. This Flexi Loan feature essentially acts as a line of credit, allowing you to borrow up to the and including credit limit.
Competitive rates. Westpac's personal loan products feature competitive rates to help customers save money on interest.
Westpac personal loan repayment calculator: How much will a Westpac personal loan cost?
Westpac offers a personal loan calculator on its website to help you determine the cost of using its personal loan. You start by selecting whether you want to calculate the costs of a car loan or an unsecured personal loan, and then you input the following information:
How much you want to borrow
Your preferred loan term
The interest rate and comparison rate of Westpac's personal loan will be entered for you
Select the state you live in
After you enter the required information you will be shown the estimated repayments for your loan. You can select weekly, fortnightly or monthly repayments. The loan amount, estimated interest cost and estimated total cost of your loan will be displayed. To adjust these, simply scroll back up and select a different loan amount or terms.
Calculator Assumptions: The above calculations are worked out assuming you're paying off a principal and interest loan where the interest rate remains the same over the life of the loan. The repayment amounts do not take into account any additional fees or charges that may be charged to your loan (e.g. application fees).
Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. They are neither a quote nor a pre-qualification for a loan.
*Whilst every effort has been made to ensure the accuracy of this calculator, the results should only be used as an indication. They are neither a recommendation nor an eligibility test for any product and should not be construed as financial advice, investment advice or any other sort of advice.
What other products does Westpac offer?
Bank accounts. Westpac offers a comprehensive range of bank accounts which includes transaction accounts, savings accounts and term deposits.
Credit cards. Whether you want a low rate credit card, a low annual fee credit card or a rewards card, Westpac has cards to suit a range of customers.
Home loans. The bank has loans for first-time homeowners, investors and people who want to move up the property ladder. You are able to choose from fixed rate, variable rate or combination loans.
How you can apply for a personal loan from Westpac
Applying for a personal loan from Westpac is a straightforward process, and you can get started by clicking "Go to Site" on any of the loans above. The eligibility criteria is as follows:
Be over the age of 18
Have a regular, permanent income
Be a permanent resident of Australia or;
Hold an acceptable Visa and have confirmed employment in Australia
Have a regular, permanent pre-tax income that is over $35,000 p.a.
If you meet the above criteria, the following details will be required to complete your application:
Personal details such as your name, proof of your identity and your contact information
Details about your finances and your employment
A list of your assets and liabilities, if you're self-employed
You need to meet set eligibility requirements which include being a permanent Australian resident, being at least 18 years old and earning a regular income. Some of the documents that should be included with your application are details of your finances, contact details including your residential address, and proof of identity. If you are a Westpac customer, the bank will ask you to verify your records.
These Westpac loans are worthwhile options for prospective borrowers to consider, but make sure to compare your options before deciding on one particular loan.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
10 of 36 reviews
★★★★★Benopolis (WA) 1 year ago
Via customer survey commissioned by Finder
Easy application process and excellent customer service throughout
★★★★★ (NSW) 1 year ago
Via customer survey commissioned by Finder
★★★★★ (WA) 1 year ago
Via customer survey commissioned by Finder
★★★★★Mike (VIC) 1 year ago
Via customer survey commissioned by Finder
Can't get ahold of anyone to talk to about home loan. They say leave a message and we will get back to you, it never happens.
★★★★★ (QLD) 1 year ago
Via customer survey commissioned by Finder
★★★★★ (VIC) 1 year ago
Via customer survey commissioned by Finder
★★★★★Sony (VIC) 1 year ago
Via customer survey commissioned by Finder
As a banker they become life partner too and have a best all for all.
Richard Fairbairn is Finder’s associate publisher for personal loans. He has been helping people make better financial decisions for over five years. Away from his desk, Richard enjoys all things musical and camping, preferably both at once. See full bio
hi i am on a dsp i get around 960pf before rent and bills/food so leave me about 450 something around there. now my question is i am going for my first time provisional license i am looking to borrow a $5000 loan to buy my very first car is there any bank or lending branch can offer me this sort of cash i can make per fortnight repayments no issue
thank you
Finder
ShirleySeptember 1, 2014Finder
Hi Peter,
Thanks for your question.
We have a list of lenders offering Centrelink loans that may be able to consider you for a loan. Please use our table to know which lender suits you. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
All the best,
Shirley
demetJuly 16, 2014
I have a 160.000 cash and I am a disability pension single mum for 3 kids ages are 10,8,1 years old
can I get home loan from Westpac and how much I can my fortnightly family and pension payments are all 1300.00
please let me know
Finder
ShirleyJuly 17, 2014Finder
Hi Demet,
Thanks for your question.
You’ve come through to finder.com.au, is an online comparison service. We are not directly affiliated with Westpac and we don’t handle any applications.
These types of applications are handled on a case by case basis, so it’s probably best to speak to the customer service team at Westpac to enquire about your eligibility.
This secured loan may be used for any worthwhile purchase and requires security against a vehicle. It uses risk-based pricing, so your interest rate will be set based on your credit score and history.
Why not be rewarded for your good credit history? MoneyPlace offers unsecured personal loans with rates starting at 8.49% p.a. – finance a range of personal purposes and borrow up to $80,000. Read the review and see if you're eligible to apply.
If you are budget-conscious and looking for a personal loan with clear expectations and repayments, the ANZ Fixed Rate Personal Loan is an option worth considering. With low fees and a competitive interest rate, this loan might be an option for you.
The ANZ Variable Rate Personal Loan may be a great choice for borrowers who want options. With a free redraw facility and the option to make additional repayments, borrowers get the comfort of a personal loan that will let them access much-needed funds.
Use a personal loan calculator to work out your repayments or compare loans with a comparison calculator.
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hi i am on a dsp i get around 960pf before rent and bills/food so leave me about 450 something around there. now my question is i am going for my first time provisional license i am looking to borrow a $5000 loan to buy my very first car is there any bank or lending branch can offer me this sort of cash i can make per fortnight repayments no issue
thank you
Hi Peter,
Thanks for your question.
We have a list of lenders offering Centrelink loans that may be able to consider you for a loan. Please use our table to know which lender suits you. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
All the best,
Shirley
I have a 160.000 cash and I am a disability pension single mum for 3 kids ages are 10,8,1 years old
can I get home loan from Westpac and how much I can my fortnightly family and pension payments are all 1300.00
please let me know
Hi Demet,
Thanks for your question.
You’ve come through to finder.com.au, is an online comparison service. We are not directly affiliated with Westpac and we don’t handle any applications.
These types of applications are handled on a case by case basis, so it’s probably best to speak to the customer service team at Westpac to enquire about your eligibility.
Cheers,
Shirley