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 Name||Bankwest Flexible Personal Loan|
|Interest Rate (p.a.)||From 14.49% (fixed)|
|Comparison Rate (p.a.)||15.5%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$50,000|
- No early repayment fees
- Flexible repayment options
- Minimum loan amount of $5,000
- There is an application fee $249
- There is a monthly fee of $10
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.