Bankwest Flexible Personal Loan

Rates and Fees verified correct on February 22nd, 2017

Enjoy borrowing the amount you want, the way you want, with the Flexible Personal Loan from Bankwest.

If you want a loan that gives you the flexibility to manage it the way you want, Bankwest’s Flexible Personal Loan is designed with you in mind. The Flexible Personal Loan offers unlimited additional repayments, no early repayment fees and lets you access surplus funds online whenever you need.

Find out more of the features in this review to see if it's right for you.

Things to consider about the Bankwest Flexible Personal Loan

Product NameBankwest Flexible Personal Loan
Interest Rate (p.a.)From 14.49% (fixed)
Comparison Rate (p.a.)15.5%
Interest Rate TypeFixed
Minimum Loan Term1 year
Maximum Loan Term7 years
Min Loan Amount$5,000
Max. Loan Amount$50,000
Application Fee$249
Monthly Service Fee$10

Pros

  • No early repayment fees
  • Flexible repayment options

Cons

  • Minimum loan amount of $5000
  • There is an application fee $249
  • There is a monthly fee of $

The Flexible Personal Loan from Bankwest comes with a loan amount of between $5,000 and $50,000. You can have between 1 year(s) to 7 year(s) to repay what you borrow.

You're able to redraw any additional repayments you make and have access to your surplus funds online at any time. This loan comes with an application fee of $249 and a fixed interest rate.

Features of the Bankwest Flexible Personal Loan

  • Fixed interest rate. This loan offers a fixed interest rate of 14.49% p.a. and a comparison rate of 15.5% p.a., calculated on $10,000 loan over three years.
  • Loan amounts. You can apply for any amount between $5,000 and $50,000.
  • Loan terms. Flexible loan terms of 1 year(s) to 7 year(s) can be chosen to fit with your budget.
  • Fees. The Flexible Personal Loan requires a one-time application fee of $249 and a monthly $10 account-keeping fee.
  • Redraw ability. You are able to redraw funds from your account at any time without paying any extra fees or penalties.
  • Additional repayments. You can make additional repayments whenever you have the extra cash to put towards your loan, without incurring any fees or penalties. You will not be subject to an early repayment fee if you pay off your loan quickly.
  • Quick approval. After you apply online you will receive an instant response with the outcome of your application.
  • 24/7 access to funds. You are able to access your loan account at any time online or via Bankwest’s telephone banking service. You can also call the customer support line during regular business hours or visit a branch location.

How to apply for the Bankwest Flexible Personal Loan

The application will only take you 10 to 15 minutes to fill out and you can receive approval instantly. If you are conditionally approved, Bankwest will contact you to request documents needed for your application.

Click "Go to Site" to start your application, but first make sure you meet the following criteria:

  • Be 18 years or older
  • Be a permanent Australian resident or citizen
  • Have a regular source of income

Be prepared to have at least two of the following documents on hand when completing the application:

  • Passport or driver’s licence. You will be asked for your driver’s licence or passport number to verify your identity. You may also want to have your Australian birth certificate or immigration papers handy in case you need to prove your residency or citizenship.
  • Personal details. You will be asked to provide your address, phone number, email address and other contact information for identification and communication purposes.
  • Employment details. Provide your employer’s name, contact information and details about the length and nature of your employment. You may also be asked to provide your last two payslips to verify your salary.
  • Financial details. In addition to your payslips, you will need to provide information about your current income and net worth, including assets and expenses.

The Flexible Personal Loan from Bankwest offers the ability to manage the money that you’ve borrowed in the way that works for you. To ensure that you are getting the best loan for you, weigh the pros and cons of various loans by comparing interest rates, fees, repayment options and other features.

Was this content helpful to you? No  Yes

This page was last modified on 14 December 2016 at 9:43.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

9 Responses to Bankwest Flexible Personal Loan

  1. Default Gravatar
    Kairee | September 4, 2016

    Hi I need a loan for today or tomorrow

    • Staff
      Anndy | September 5, 2016

      Hi Kairee,

      Thanks for your comment.

      Please note that we are finder.com.au, a financial comparison and information website, not a lender.

      If you are interested to apply for a Bankwest Flexible Personal Loan, you can check first the eligibility criteria and requirements above. Once you think that you are qualified for this loan, you can then submit your application on the link I sent in your email.

      Cheers,
      Anndy

  2. Default Gravatar
    | June 9, 2016

    Hi I was just curious I have a couple of small payday loans would I be able apply to consolidate all my loans so I have 1 loan and less interest?

    • Staff
      Elizabeth | June 9, 2016

      Hi Shannon,

      As long as you meet the eligibility criteria you can apply for this loan, but you may want to get in touch with Bankwest prior to your application to discuss your eligibility. If you’re using the loan to consolidate debt you will need to provide the following:
      3 months of your most recent consecutive bank statements for each debt being consolidated, printouts from your online banking can be accepted. Statements must show the following details:
      account holder name
      financial institution name
      BSB & account number
      transaction history
      no older than 45 days

      I hope this helps,

      Elizabeth

  3. Default Gravatar
    | May 26, 2016

    I need a payday loan, I have poor credit no money down online only all online guaranteed approval.

    • Staff
      Elizabeth | May 26, 2016

      Hi Patricia,

      There aren’t really any loans that can offer guaranteed approval, but you can find lenders that will consider you even if you have bad credit. You can compare lenders here and click “Go to Site” once you’ve found one that meets your needs and financial situation.

      I hope this helps,

      Elizabeth

  4. Default Gravatar
    Don | March 2, 2015

    can a aged pensioner paid by centerlink get this loan?

    • Staff
      Shirley | March 2, 2015

      Hi Don,

      Thanks for your question.

      Unfortunately the age pension can’t be your only source of income. Your application will need to be supported by another source such as a joint application, guarantor or employment.

      Hope this helps,
      Shirley

    • Default Gravatar
      Don | March 2, 2015

      thank you

Ask a question
feedback