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Bankwest, a part of the CommBank Group, offers a range of financial products and services. In addition to savings accounts, home loans and credit cards, the bank also offers a range of personal and car loans. For their unsecured loan, the interest rate is fixed at 8.99% p.a. Their Flexible Personal Loan comes with features such as redraw facilities and free additional repayments but with a higher interest rate of 14.49% p.a. Their car loan is secured and comes with a fixed rate of 6.99% p.a. All loans come with an establishment fee between $0 and $299 and monthly fee of $5 to $10.
How do Bankwest Personal Loans compare?
- Unsecured Personal Loan. Borrow between $3,000 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 years to 7 years. 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 $3,000 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 $0 while the monthly fee is $5. It costs $299 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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Personal Loan OffersImportant Information*
You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate of 8.99% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
Borrow from $5,000 to $55,000, with 1 years to 7 years loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
You'll receive a fixed rate between 5.95% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
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