Westpac Flexi Loan – Unsecured Personal Loan

Have 24/7 access to a line of credit up to $50,000.

Westpac’s Flexi Loan is a personal line of credit where you only pay interest on the amount you use. You also have 24/7 access to your funds and can make withdrawals at any time. Read this review to find out more about how this loan works.


From 16.49% (variable)

Interest Rate (p.a.)

$4,000

Min Loan Amount

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Details

Product NameWestpac Flexi Loan
Interest Rate (p.a.)
From 16.49% (variable)
Interest Rate TypeVariable
Min Loan Amount$4,000
Max. Loan Amount$50,000

Main points to consider with the Westpac Flexi Loan

You can apply for a credit limit of between $4,000 and $50,000 with the Westpac Flexi Loan. The loan comes with a variable rate of 16.49% p.a.but this rate will only be applied to the funds you use, not your credit limit. This is a special interest rate only available to selected affiliate partner websites.

You will need to pay an establishment fee of $150 as well as a $12 monthly fee.

Features of the Westpac Flexi Loan

  • Redraw funds at any time. You can redraw funds at any time up to a pre-determined limit and have the ability to request a credit limit decrease to a minimum of $4,000.
  • Variable rate. The loan has a variable interest rate of 16.49% p.a. Interest is not applied to the credit limit but on the remaining loan balance.
  • Repayment terms. Repayment options can be selected depending on your financial capabilities.
  • How long the line of credit remains active. The line of credit is available for terms of between 1 to 5 years.
  • How much you can borrow. You can apply for any amount between $4,000 and $50,000.
  • Fees. There are no fees for early repayment, early exit or additional withdrawals. A one-time $150 establishment fee and a $12 monthly fee are applicable, while other fees may apply.
  • Unlimited account access. You can access your account 24/7 via online banking or telephone banking to make repayments or withdrawals.

How to apply for the Westpac Flexi Loan

If you're interested in applying for the Westpac Flexi Loan, you can click "Go to Site" if you’re ready to begin the application process.

To be eligible you must meet the following requirements:

  • Age and employment. You must be 18 or over to apply for this loan and be gainfully employed with a regular, secure income. You will be asked to prove your age and provide evidence of your income.
  • Australian residency. Permanent Australian residents, citizens and holders of an acceptable visa are eligible to apply.

Have the following information handy when filling out the application form:

  • Valid driver’s licence. You must have a valid Australian driver’s licence, passport or birth certificate to verify your identity and resident status.
  • Personal details. You will be asked to submit your personal contact information like your email, address and phone number.
  • Financial and employment details. The name and address of your employer will be required along with details of your current income, assets and liabilities.

The unsecured Flexi Loan from Westpac offers a competitive variable interest rate and flexible repayment terms to help you get access to the funds you need. However, make sure to compare your available options before deciding on the right loan for you.

Compare other personal loans

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Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Symple Loans Personal Loan

From 5.75% (variable)
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$5,000
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from 0% to 5% of the loan amount
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You'll receive a variable rate from 5.75% p.a. to 25.99% p.a.

Borrow up to $50,000 and earn 1 Qantas Point for every $1 borrowed.

⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Harmoney Unsecured Personal Loan

From 5.35% (fixed)
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You'll receive a fixed rate between 5.35% p.a. and 19.09% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
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$5,000
1 to 7 years
$150
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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 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.
NOW Finance No Fee Unsecured Personal Loan

From 5.95% (fixed)
5.95%
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No Establishment Fee
$0
You'll receive a fixed rate between 5.95% p.a. and 17.95% p.a. based on your risk profile
Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.
OurMoneyMarket Personal Loan

From 5.45% (fixed)
6.07%
$2,001
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$0
You'll receive a fixed rate from 5.45% p.a. to 20.99% p.a. based on your risk profile.
A personalised loan from $2,001 to $75,000 that varies based on your credit history and financial situation.

⭐ Finder Exclusive: Apply before 31 January 2022 to secure a discounted rate of 5.45% p.a. (comparison rate: 6.07% p.a.) for the first 12 months on loans over $35,000. T&Cs apply.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.31%
$3,000
1 to 7 years
$299 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 25.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Repay weekly, fortnightly or monthly. You can check your interest rate before applying with no impact to your credit score.
ANZ Fixed Rate Personal Loan
8.99% (fixed)
9.88%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 8.99% p.a. with a comparison rate of 9.88% p.a. if you're approved.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.

⭐Special Offer: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 8.99% p.a.
MoneyMe Personal Loans

From 6.25% (fixed)
7.64%
$2,100
1 to 5 years
from $295 to $495
$10
You'll receive an interest rate between 6.25% p.a. and 19.95% p.a. based on your risk profile
Borrow up to $50,000 with no hidden fees or costs. Application process usually takes 5 minutes to complete and is done fully online.
Wisr Personal Loan ($5,000 to $30,000)

From 6.49% (fixed)
6.49%
$5,000
3 to 7 years
$0 - Waived Establishment Fee
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $5,000 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $5,000 and $30,000. Offer ends 31 January 2022. T&Cs apply.
Wisr Personal Loan ($30,001 to $64,000)

From 6.49% (fixed)
7.11%
$30,001
3 to 7 years
$595
$0
You'll receive a fixed rate between 6.49% p.a. and 20.95% p.a. based on your risk profile
A loan from $30,001 that charges no fees for extra or early repayments. Keep in mind security is required in some cases.

⭐Special Offer:The $595 establishment will be waived for unsecured personal loans between $30,001 and $64,000. Offer ends 31 January 2022. T&Cs apply.
ANZ Variable Rate Personal Loan
10.50% (variable)
11.38%
$5,000
1 to 7 years
$150
$10
You'll receive a guaranteed rate of 10.50% p.a. with a comparison rate of 11.38% p.a. if you're approved. Note: This rate may vary during the loan term.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.

⭐Special Offer: A $500 cashback offer available for loans of $10,000 or more that been applied for before 28 February 2022. Loans approved and drawn down by this date are also eligible for the reduced rate of 10.50% p.a.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
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1 to 7 years
$150
$10
You'll receive a variable 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
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Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 5.35% p.a. and based on your risk profile.
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Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

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.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

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
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Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

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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44 Comments

    Default Gravatar
    Michael
    December 29, 2018

    How can I avail the flexi loan that was shown that I have available amount and how can I transfer that?

      Avatarfinder Customer Care
      Jeni
      December 30, 2018

      Hi Michael,

      Thank you for getting in touch with finder.

      To avail the Westpac Flexi Loan, you may click on the go to site green button to be redirected to Westpac’s official page to learn more on this loan and start your online application. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you. I suggest that you contact Westpac directly for further clarification on this matter.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    Doole60
    June 1, 2017

    I currently have a Westpac Flexi Loan and am wondering if I can use the amount available (around $7000.00) to pay against the amount due around $ 20000.00?

      Avatarfinder Customer Care
      May
      June 1, 2017

      Hi Doole60,

      Thank you for your inquiry.

      Basically, the funds withdrawn from your Westpac Flexi Loan can be used for any purpose. However, if you wish to pay your due using the funds from your account, you must withdraw it first then pay in person at any Westpac branch. Please keep in mind though that if you do this, you’ll still incur interest on the amount that you withdraw.

      Cheers,
      May

    Default Gravatar
    Zorse
    December 22, 2016

    Hi, I already have a Westpac Flexi Loan, with a limit of $15,000. I don’t owe anything on it at the moment, but am anticipating needing more funds, so was wanting to know if it is possible to increase the credit limit? How would I go about doing this?
    Thanks

      Avatarfinder Customer Care
      May
      December 22, 2016

      Hi Zorse,

      Thanks for your question and for contacting finder.com.au – a financial comparison website and general information service designed to help consumers make better decisions. We do not represent Westpac or any banks we feature on our page.

      If you’d like to increase your credit limit for your Westpac Flexi Loan, you’d be best to get in touch with Westpac directly.

      Cheers,
      May

    Default Gravatar
    Fionah
    December 18, 2016

    Hi, I’d like to ask if I’m eligible for the loan? I’m a Westpac customer and I’m currently paying my car and mobile plan. I’d like to pay it both in one easy pay with the personal loan and pay it every fortnight with my salary. I’m employed under Part-Time but have regular and heaps of hours every fortnight at work as a carer. My fortnightly expenses is only $250 and each fortnight, I earn $1200 or more. Will I be approved for this loan? Thanks!

      Avatarfinder Customer Care
      Jason
      December 18, 2016

      Hi Fionah,

      Thank you for your enquiry.

      You must meet the Westpac Flexi Loan eligibility requirements as mentioned on this page to be eligible for the loan. Westpac will consider your entire financial circumstances such as your income, debt, employment and other financial information when deciding to approve you for a loan.

      It would be best to contact Westpac directly for further questions regarding this loan and your eligibility.

      I hope this helps.

      Kind regards,
      Jason

    Default Gravatar
    Donna
    October 6, 2016

    How do I reduce the available credit on my Westpac flexi loan

      Avatarfinder Customer Care
      Elizabeth
      October 6, 2016

      Hi Donna,

      You’re able to decrease your credit limit as long as it is still over $4,000. To decrease your limit call Westpac directly or head to a branch.

      Hope this helps,

      Elizabeth

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