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Bankwest Personal Loans

Rates and fees last updated on

Bankwest offers a range of competitive personal loans to suit a variety of borrowing needs.

As part of the Commonwealth Bank Group, Bankwest offers a range of financial products and services to its customers. In addition to savings accounts, home loans and credit cards, the bank also offers a range of personal loans designed to suit diverse borrowing needs.

Bankwest offers a Car Loan, Unsecured Personal Loan and a Flexible Personal Loan. Each product boasts flexible repayment options to help borrowers pay off their debt with ease.

How do Bankwest Personal Loans compare?

Rates last updated December 18th, 2017
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
Bankwest Unsecured Personal Loan
From 11.99% (fixed)
12.8%
$5,000
3 to 7 years
$8
$195
Borrow from $5,000 to $50,000 with the flexibility to repay over 3 to 7 years with a competitive fixed interest rate
Bankwest Flexible Personal Loan
From 14.49% (fixed)
15.5%
$5,000
1 to 7 years
$10
$249
Enjoy flexibility, a great low rate and fast access to your funds and access surplus funds online 24/7.

Compare up to 4 providers

Rates last updated December 18th, 2017
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$0
$500 (Upfront fee)
Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 29.99% p.a. based on credit history.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
$0
Apply for up to $50,000 and receive conditional approval within minutes.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$0
3% (of loan amount)
Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.42%
$4,000
1.5 to 7 years
$13
$395 (Based on $10,000)
Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit score.
Bank Australia Lifestyle Personal Loan
11.89% (variable)
12.94%
$1,000
1 to 10 years
$0
$150
A competitive variable rate loan that gives you ten years to repay.
bcu Unsecured Freedom Loan
From 10.8% (variable)
13.9%
$4,000
1 to 5 years
$8
$200
A flexible personal loan available from $4,000 that you can use for any purpose.
RACQ Unsecured Personal Loan
12.95% (variable)
13.25%
$3,000
5 years
$0
$200
Apply for up to $60,000 to use for a variety of purposes end enjoy no penalty for early repayment. Note: You must be a QLD resident to apply.
Westpac Unsecured Personal Loan
From 12.99% (fixed)
14.14%
$4,000
1 to 7 years
$12
$250
Borrow up to $50,000 for a term of up to 7 years with the unsecured Loan from Westpac
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
15.19%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your account in as little as 24 hours.
NAB Personal Loan Unsecured Fixed
14.99% (fixed)
15.85%
$5,000
1 to 7 years
$10
$150
An unsecured loan available for a wide range of purposes for a long period of time up to 7 years. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$12
$0 (On new loan applications before 18th January 2018.)
Convenient redraw facility, flexible personal loan repayment options with a competitive interest rate. Apply before 18 Jan 2018 for a $0 application fee. Conditions apply.
NAB Personal Loan Unsecured Variable Rate
14.69% (variable)
15.55%
$5,000
1 to 7 years
$10
$150
An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.
Bank of Melbourne Unsecured Variable Rate Personal Loan
From 12.99% (variable)
14.06%
$3,000
1 to 7 years
$12
$0 (On new loan applications before 18th January 2018.)
An unsecured personal loan that gives you a choice between a fixed or variable rate. Apply before 18 Jan 2018 for a $0 application fee. Conditions apply.

Compare up to 4 providers

  • Unsecured Personal Loan. Borrow between $5,000 and $50,000 for a range of financing needs. You can repay the loan over 3 to 7 years. The funds can be used for debt consolidation, home renovation or even taking a holiday.
  • Flexible Personal Loan. Borrow between $5,000 and $50,000 and enjoy flexible features including unlimited additional repayments and 24/7 access to your funds. You can also redraw your additional payments for no charge.
  • Car Loan. This loan offers comes as a fixed rate option and you can borrow between $10,000 and $100,000, while being able to repay the loan over 3 to 7 year(s). You can make weekly, fortnightly or monthly repayments, and additional repayments are allowed, though a fee will apply if you pay off your loan within the first 24 months.

Features of Bankwest personal loans

  • Fixed rate. All three of Bankwest’s personal loans are available with fixed interest rates. This offers the security of knowing exactly what your repayments will be.
  • Flexible repayment options. You can choose to make repayments when they suit your budget – weekly, fortnightly or monthly.
  • Loan terms. Terms across the Bankwest personal loan range are between 1 and 7 years.
  • Loan amounts. Depending on the loan you choose, you’ll be able to borrow between $5,000 and $100,000.
  • Fees. The Flexible Personal Loan attracts an application fee of $249 and a monthly fee of $10. The application fee for the Unsecured Personal Loan is $195 while the monthly fee is $8. It costs to apply for the Car Loan and there is a monthly fee of $5.
  • Online banking loan repayment. You can make your loan repayments using Bankwest Online Banking (BOB). You can easily make an internal transfer of funds between your own accounts and make additional repayments.

What other products does Bankwest offer?

  • Personal. Bankwest offers Everyday Accounts, Savings and Term Deposits, Credit Cards, Home Loans, Personal Loans and Insurance.
  • Small Business. This includes Business Accounts, Business Credit Cards, Business Loans and assistance for those starting a new business.
  • Business. This consists of Business Loans, Business Accounts, Business Deposits, Business Credit Cards, International Trade and Private Banking.

How to apply for a Bankwest personal loan

You're able to apply for any of Bankwest's loans online by clicking "Go to Site". First, make sure you meet the minimum eligibility criteria:

  • Over the age of 18
  • An Australian citizen or permanent Australian resident
  • Have a regular permanent income
  • Don't have an active personal loan application that has already been conditionally approved

If you meet these criteria you can start your online application. You'll need the following information on hand:

  • Your contact information including email and residential address
  • If you're not a Bankwest customer, two forms of ID such as your driver's licence, Medicare card, passport or birth certificate
  • Details of your finances, including your income, expenses and assets

Bankwest offers a range of personal loans with competitive and flexible features for borrowers. In order to determine whether a Bankwest personal loan is right for you, compare loans above.

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This page was last modified on 9 November 2017 at 1:41pm.

Harmoney Unsecured Personal Loan

Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 29.99% p.a. based on credit history.

SocietyOne Unsecured Personal Loan

Based on your risk profile, you will receive a tailored rate between 7.5% and 20.14% with a SocietyOne personal loan.

NAB Personal Loan Unsecured Variable Rate

An unsecured loan with a redraw facility that allows you to access money you've paid in advance. You must have held a NAB Credit Card or Transaction account for at least 6 months before applying.

NOW FINANCE Personal Loans

Get rewarded with a low interest rate for your good credit history. Rates from 8.95% p.a. to 16.95% p.a. depending on your credit score.

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18 Responses

  1. Default Gravatar
    NaoNovember 18, 2017

    Hi
    I’m enquiry in regards to a personal loan for a family holiday over the Christmas break.
    I’ve been in employed for 3 months now and have made some recent applications for s Loan with others banks but my application was declined because I did not meet there lending criteria of being in employment for over 6 months will this decision affect my application.

    • Staff
      LiezlNovember 20, 2017Staff

      Hi Nao,

      Thanks for reaching out to finder.

      While we cannot surmise how Bankwest will assess your application, generally denied credit application listed on your credit file will be viewed by lenders as a red flag. You may refer to the eligibility criteria above and check if you meet them. I have also sent to your email Bankwest’s personal loan application checklist for your reference. Meanwhile, you may want to read our guide here to understand how credit enquiries impact your credit score.

      If you are to apply for another loan, it’s a good idea to give it some time before applying again. Make sure that you meet all the eligibility criteria and if ever you’re unsure, contact the lender to check if you’ll qualify.

      It will also help to have a clear picture of your current credit standing so you’ll know which credit products you’ll qualify for. You can do this by getting your free credit score and a copy of your credit record.

      As for your loan options, you can check this page for loan offers available to casual employees that you might qualify for as well.

      I hope this has helped. Feel free to message us again if you have any questions.

      Cheers,
      Liezl

  2. Default Gravatar
    LouiseSeptember 7, 2017

    Hi
    My mum is 69 and owns her own home and wants to do renovations up to $120k can she borrow money and have a sibling repay the loan?
    Thanks.

    • Staff
      HaroldSeptember 7, 2017Staff

      Hi Louise,

      Thank you for your inquiry.

      Before you proceed in reviewing offers for home renovation you may want to consider reading our guide here.

      I hope this information has helped.

      Cheers,
      Harold

  3. Default Gravatar
    LisaMay 23, 2017

    Hi,
    I am in need of a small loan 5-7k to purchase a vehicle. I am currently a stay at home mother with government benefits being my only source of income at this time. Prior to the last 2 years (before becoming a mother) my employment history was very strong with constant employment. My credit score is also good with ‘a good’ rating (above 600). Would I have any options in obtaining a loan for a necessity such as a car? I have no other debts/loans/credit cards.
    Regards.

    • Staff
      AnndyMay 23, 2017Staff

      Hi Lisa,

      Thanks for your question.

      If you are receiving Centrelink benefits and are looking to apply for a loan, you may compare your options on this page.

      Kindly take time to read the eligibility criteria of the loan product you are interested in before submitting your application.

      Cheers,
      Anndy

  4. Default Gravatar
    December 5, 2016

    I wish to borrow personal loan to purchase home furniture
    for $7000.00 and what would you like from me.

    Thank you

    • Staff
      MayDecember 5, 2016Staff

      Hi Samana,

      Thanks for your question.

      The general requirements of Bankwest were listed above. Usually, most banks and lenders would need your IDs, financial and employment documents and good credit history. Just in case you may like to check other lenders who offer $7000 loan and above, please feel free to visit this page to compare your options.

      Hope this helps.

      Cheers,
      May

  5. Default Gravatar
    BenAugust 22, 2016

    Hey,
    I am looking for a low interest personal loan for $25000 for 7 years to purchase a second hand motor vehicle. I have a constant minimum income of $1720 a month (after tax) with 25 hours per week. Have been employed with the same employer for 18 months, and have $6000 worth of assets, but no savings record… Who do you recommend?

    • Staff
      ElizabethAugust 23, 2016Staff

      Hi Ben,

      I can’t recommend a specific lender to you but you can find a guide to borrowing while you’re employed casually or part-time on this page. It also lists all the criteria you need to meet with each lender to be approved.

      I hope this helps,

      Elizabeth

  6. Default Gravatar
    MaryAugust 10, 2015

    Hi,
    I am seeking a low interest personal loan to consolidate 4 credit cards to the value of $40000. who do you recommend/?

    • Staff
      ElizabethAugust 10, 2015Staff

      Hi Mary,

      Thanks for your question.

      Unfortunately I’m unable to recommend a specific product to you as the best personal loan will depend on your financial situation and needs. You can compare the various options available, as well as learn more about consolidating debt, on this page.

      I hope this has helped.

      Thanks,

      Elizabeth

  7. Default Gravatar
    DonnaMay 29, 2015

    I’m on center link payments and in need of $6000 for medical reasons can afford $100 a week payments back.
    Thanks

    • Staff
      ElizabethJune 1, 2015Staff

      Hi Donna,

      Thanks for your question.

      Bankwest is able to use certain Centrelink payments as a form of income, but has guidelines around which payments they can and cannot consider. You may want to get in contact with Bankwest to discuss your eligibility before applying.

      I hope this has helped.

      Thanks,

      Elizabeth

  8. Default Gravatar
    SueOctober 8, 2014

    With profit from sale of our House can we buy another house and have $50.000 towards it

    • Staff
      ElizabethOctober 9, 2014Staff

      Hi Sue,

      Thanks for your question.

      If you’re considering the loans on this page from Bankwest, you would be able to take out an unsecured personal loan or flexible personal loan for this purpose.

      Hope this has helped.

      Thanks,

      Elizabeth

    • Default Gravatar
      ThomasSeptember 12, 2015

      Does Bankwest do credit history checks? Due to my unemployment status, I build up a bad credit rating, and would like to borrow $6000 from Bankwest for consolidation purposes. Is it possible, because I had been put down by previous institutions, and it reflects on my profile.

    • Staff
      ElizabethSeptember 14, 2015Staff

      Hi Peter,

      Thanks for your question.

      Bankwest will do a check on your credit history before approving you for a loan, however they may still approve you depending on what is on your credit file. You may want to get in contact with them to discuss your situation and your chances of being approved. If you find you’re not eligible for one of its loans, you can learn about bad credit debt consolidation on this page.

      I hope this has helped.

      Thanks,

      Elizabeth

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