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Westpac Personal Loans

Westpac offers a complete suite of personal and car loans. Interest rates depend on the product you choose and fees apply.

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Richard Fairbairn

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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 products below

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Updated regularly
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
Westpac Unsecured Personal Loan
Westpac logo
Fixed1 - 7 Years $4,000 - $50,000
Interest Rate (p.a.)
7.99%
to 20.49%
Comp. Rate (p.a.)
9.18%
to 21.61%
Application Fee
$250
Monthly Fee
$12
Monthly Repayment
$959.79
More Info
Westpac Flexi Loan
Westpac logo
Variable1 - 5 Years $4,000 - $50,000
Interest Rate (p.a.)
16.99%
Application Fee
$150
Monthly Fee
$12
Monthly Repayment
$1,086.78
More Info
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1 - 1 of 1
Updated regularly
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
Westpac Car Loan
Westpac logo
Fixed1 - 7 Years $10,000 - $100,000
Interest Rate (p.a.)
6.49%
to 12.99%
Comp. Rate (p.a.)
7.69%
to 14.14%
Application Fee
$250
Monthly Fee
$12
Monthly Repayment
More Info
You'll receive a fixed rate of 6.49% p.a.
Finance a new or used car and benefit from convenient features for car buyers including a car search tool and the option to borrow extra for on-road costs.
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Showing 1 of 1 results
  • 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? This 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

Based on Westpac personal loan scores in Finder's 2024 Customer Satisfaction Awards.

Features and benefits of a Westpac personal loan

  • 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.

You can also use a personal loan calculator to get an estimate of your loan repayments.

Loan Repayment Calculator

Your personal loan details

Loan amount
$
Term
Repayment type
Interest rate
%
Monthly fee
$
Interest only period
Payment frequency
Extra monthly repayments
$

Overview of your loan

Once the interest only period ends, your estimated repayments will be
(including extra )
Total loan repayments:
Total interest / fees payable:
Compare personal loans
By making extra monthly repayments of
Your loan term could reduce by:
You could pay less interest, saving:
See as a table
Years remaining Principal remaining
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.

Compare other products from Westpac

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Assistant publisher

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

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26 Responses

    Default Gravatar
    AmilagiDecember 12, 2023

    Can I get this money soon as possible?

      AvatarFinder
      SarahDecember 13, 2023Finder

      Hi Amilagi, We’re a review site and not directly affiliated with Westpac, so we can’t provide an indication of turnaround times. Your best bet is to contact Westpac directly: 132 032.

    Default Gravatar
    VernonJuly 12, 2023

    Hi , I have a bad credit history and I want to borrow 5,000 so I have a family member with good credit history as a guarantor what are my chances.

      AvatarFinder
      SarahJuly 13, 2023Finder

      Hi Vernon,

      Every bank has their own set of criteria and your chances of getting loan approval depend on a number of factors, including your credit score, income, current debts and employment history. It may be worth contacting Westpac to discuss your situation and see what your options are.

      You could also review this page for several options of lenders who specialise in working with those who have a poor credit history:
      https://www.finder.com.au/bad-credit-personal-loans

      Hope this helps!

    Default Gravatar
    WayneMay 18, 2018

    Hi.
    I’m on a pension and have just finished paying out a high interest loan and have one default which was only $100 and was paid out as soon as I realised that I had it there. Now I’m finding it hard to get a loan of $10,000 over 4 years with the repayments less then what I have been paying for the last two years so I’m at a lost why I can’t get a loan as I’m getting $1,335 p/f do you know why I’m having trouble getting finance. Thanking you in advance

      Default Gravatar
      AshMay 19, 2018

      Hi Wayne,

      Thank you for visiting Finder.

      First, check your current credit score as it is one of the eligibility requirements that most lenders look into when they are making their decision in regards to your loan application. You may also request for your credit report to see if there are any wrong listings regarding your credit history or if you have any other default payments that you are not aware of.

      In case that you have a poor credit score, it may be difficult to get approved for a personal loan. In most cases, lenders require good to excellent credit but do not lose hope. There are quite a few that will accept applications from people with bad credit, however, this can cost higher interest rates and poorer terms. Please refer to our list of bad credit personal loans to compare your options. Kindly take note that the lender’s approval will still depend on their assessment of your financial situation.

      Lastly, you may use our personal loan calculator to know if the loan that you are applying for is the right one for you when it comes to repayments.

      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.

      I hope this helps.

      Let us know if there is anything else that we may assist you with.

      Cheers,
      Ash

    Default Gravatar
    AndreiFebruary 14, 2018

    Hello.is it possible to get loan if i have 1 year working holiday visa?i came to Australia in 11th of January 2018 but i haven’t worked here yet.if its possible then what kind of amount of money i could get

      AvatarFinder
      JonathanMarch 7, 2018Finder

      Hi Andrei, thanks for your inquiry.

      Can you confirm the code of your working holiday visa, so we can assist you further please?

      Best,

      Jonathan

    Default Gravatar
    JeromeSeptember 18, 2017

    I wish to apply for a $100,000 loan.

      AvatarFinder
      RenchSeptember 20, 2017Finder

      Hi Jerome,

      Thanks for your inquiry.

      If you are referring to Westpac’s personal loans, you may select your preferred loan to see more details, then you may select the ‘Go to site’ button to submit an online application through Westpac’s official site.

      You can also have a look and compare your options on our $1000 loans page.

      Cheers,
      Rench

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