Westpac Unsecured Personal Loan

Rates and Fees verified correct on October 28th, 2016

Take advantage of flexible terms and repayment options with an Unsecured Personal Loan from Westpac.

The Unsecured Personal Loan from Westpac offers you a fixed interest rate so that you can be certain of consistent repayment amounts for the life of your loan. The interest rate is competitive at 12.99% p.a., with a comparison rate of 14.01% p.a. You can apply to use the loan for a variety of personal purposes, with the loan amount ranging from $4,000 to $50,000 on a term of up to 7 year(s).

Repayments can be made on a weekly, fortnightly or monthly basis to best suit your financial schedule. If you do happen to have extra funds available, you can make additional repayments to pay off your loan at a faster rate.

Product NameWestpac Unsecured Personal Loan
Interest Rate (p.a.)From 12.99% (fixed)
Comparison Rate (p.a.)14.01%
Interest Rate TypeFixed
Minimum Loan Term1 year
Maximum Loan Term7 years
Min Loan Amount$4,000
Max. Loan Amount$50,000
Application Fee$250
Monthly Service Fee$10


  • Discount rates available for new loans - conditions apply
  • Flexible repayment schedule
  • Loan terms extend up to @pl_product_max_loan_term
  • @ years


  • Monthly service fee payable
  • $250 application fees also apply
  • Late fee and other fees may be charged

Things to consider about the Westpac Unsecured Personal Loan

As this is an unsecured loan, you will not be required to offer your personal assets as a guarantee. The fixed interest rate option also means that you have the benefit of knowing what your repayments will be over the life of the loan. You can make extra repayments if possible without penalty, a prepayment fee of $175 applies only if you choose a loan term greater than two years and pay your loan off within two years.

Existing Westpac customers may be eligible for discounts on the interest rate and those holding existing Student, Youth and Westpac Plus accounts may qualify for discounts.

Westpac also offers an Unsecured Flexi Loan with a variable interest rate.

Features of the Westpac Unsecured Personal Loan

  • Competitive rates. The fixed rate of 12.99% p.a. ensures consistent payments to work with your budget.
  • Fees. A one-time establishment fee of $250 applies and is added to your loan amount. A monthly $10 fee is required as long as a balance remains on your account and a $175 early repayment fee is applicable if the loan on a term greater than two years is paid off within two years.
  • Loan terms. You choose a minimum term of 1 year(s) and a maximum of 7 year(s).
  • Loan amount. Borrow any amount between $4,000and $50,000 depending on your eligibility.
  • Flexible repayment schedule. Choose a repayment schedule on a weekly, fortnightly or monthly basis.
  • Extra repayments. If you have extra funds you can use them to make additional payments on your loan amount at any time. Ensure you are familiar with the terms and fees attached to early repayment.
  • Possible interest discounts. If you are already banking with Westpac and have a Student, Youth or Plus Package account you may qualify for a discount on the interest rate.
  • Insurance options. Westpac offers loan insurance options to protect you for the life of your loan once you have been approved.

How you can apply for the Westpac Unsecured Personal Loan

The Westpac Unsecured Personal Loan can be used for a range of personal purposes. If you're ready to apply, you can get the process started by clicking "Go to Site". The following eligibility criteria needs to be met before you can start you application. You must:

  • Be over the age of 18.
  • Have regular income
  • Be a permanent Australian resident or a non-resident with an acceptable visa and confirmed employment in Australia

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

  • Personal details. This includes your name, forms of ID and your contact details.
  • Financial information. Your income, assets, debts and liabilities.

You should be notified of your application's outcome within two business days. If you're approved, you can receive your funds through a bank transfer or bank cheque.

While this Personal Loan from Westpac is a competitive option to consider, remember to compare your unsecured personal loan options before applying to ensure you apply for the best loan for your needs and situation.

Was this content helpful to you? No  Yes

This page was last modified on 17 March 2016 at 16:50.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

2 Responses to Westpac Unsecured Personal Loan

  1. Default Gravatar
    Paulo | August 15, 2016

    I am 25 years old and applying for a loan. I work under the Republic of Fiji Military Force( RFMF) here in Fiji and I am based in Labasa.

    Can I loan for Refinance and Personal Commitment???

    • Staff
      Elizabeth | August 16, 2016

      Hi Paulo,

      Unfortunately these loans are only available to current residents of Australia. You’ll need to find a lender in Fiji to apply for a loan.

      Sorry I couldn’t be of more assistance,


Ask a question