Westpac Unsecured Personal Loan

Take advantage of flexible terms and a fixed rate with a Westpac Unsecured Personal Loan.

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. 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).

Things you should know about this loan

  • Fixed rate but extra repayments allowed. You're able to benefit from a fixed rate with this loan, keeping your repayments the same this month,
    but you can also make extra repayments without penalty. Keep in mind a fee might apply if you repay your entire loan early.
  • Possible interest rate discounts Existing Westpac customers may be eligible for interest rate discounts and those holding existing Student, Youth and Westpac Plus accounts may qualify for discounts.

Product NameWestpac Unsecured Personal Loan
Interest Rate (p.a.)12.99% (fixed)
Comparison Rate (p.a.)14.14%
Interest Rate TypeFixed
Min Loan Amount$4,000
Max. Loan Amount$50,000
Loan SecurityUnsecured


  • Flexible repayment schedule
  • Possible interest rate discounts
  • You can make extra repayments


  • $12 monthly fee
  • Early repayment fees may apply

Main points to consider with 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 without penalty, but 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.
  • Establishment fee waived. You will not pay the initial $250 fee for setting up the loan if you apply before 20 December 2018.
  • Fees. A monthly $12 fee applies 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 $4,000 and $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. Keep in mind if you choose a loan term over two years and repay your loan within two years, a prepayment fee of $175 will apply.
  • Possible interest rate 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 your 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.

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16 Responses

  1. Default Gravatar
    williamNovember 27, 2018

    i am a tpi pensioner and receive a fortnightly payment of $2098 and my wife receives a dva fortnightly payment of $690 plus a carers payment of $127 from centerlink we are looking for a personal loan of approx $15000 over a period of three years can you help us

    • finder Customer Care
      JohnNovember 28, 2018Staff

      Hi William,

      Thank you for reaching out to finder.

      For you to be able to start an application with Westpac, you may click on the “Go to site” button on this page for you to start. 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. Hope that helps!


  2. Default Gravatar
    preciousAugust 1, 2018

    i just started work 3months ago and also on a bridging visa .i need a personal loan to get myself a car for work .is that possible and what steps should i take

    • Default Gravatar
      JoelAugust 1, 2018

      Hi Precious,

      Thanks for leaving a question on finder.

      The Westpac Unsecured Personal Loan can be used for a range of personal purposes. However, only permanent residents are eligible for this personal loan. If you are looking for a loan as a temporary resident, please click HERE. There are a number of banks and lenders in Australia who consider applications for personal loans from people that have a temporary resident visa.

      Minimum criteria for personal loans usually stipulates:

      1. Age. You’ll need to be over the age of 18.
      2. Visa. Check if any specific Visa types are excluded from the lender’s criteria, or if any other criteria is mentioned.
      3. Employment. You will generally need to be in permanent employment earning an income of $50,000 p.a.
      4. Financials. You will need an Australian bank account that is in good standing.

      Hope it helps!


  3. Default Gravatar
    ThomasApril 27, 2018

    Single mother of 2 Own my Home and Car out right. Only getting Newstart and Family tax A&B benefits. Where can I get a loan for $5000 to do some renovations on my Home.

    • Default Gravatar
      JoelApril 27, 2018

      Hi Sharon,

      Thanks for leaving a question on finder.

      You still may be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available.

      For more information, please go HERE.


  4. Default Gravatar
    gemJanuary 31, 2018

    where do pensioners get a personal loan ?

  5. Default Gravatar
    KathleenDecember 12, 2017

    Looking at getting a loan and have been a Westpac customer for all my life and I need the loan for white goods and family and Christmas

    • finder Customer Care
      HaroldDecember 13, 2017Staff

      Hi Kathleen,

      Thank you for your inquiry.

      If you wish to apply for “Westpac Unsecured Personal Loan” you can get the process started by clicking “Go to Site”. The following eligibility criteria need to be met before you can start your 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

      I hope this information has helped.


  6. Default Gravatar
    GrantNovember 12, 2017

    Can I get a personal loan with bad credit but use my friend as a guarantor on the loan who’s credit rating is excellent? If so will I get cheaper interest rate ? I was hoping to borrow around 25,000

    • finder Customer Care
      JoanneNovember 13, 2017Staff

      Hi Grant,

      Thanks for reaching out.
      For personal loans, there are lenders that would allow a cosigner if your credit is less than perfect.

      A cosigner is someone who agrees to pay back your loan if you miss payments or default on it. Rather than relying on your credit history and score alone, creditors can take your cosigner’s financial history into account.

      You can visit this page to get detailed information about having a cosigner on a personal loan, the difference between cosigners and guarantors and a selection of lenders that allow co signers for personal loans.


  7. Default Gravatar
    TotogataJuly 6, 2017

    I am part time worker and on Centrelink payment, am I available to apply for a loan?

    • finder Customer Care
      RenchJuly 7, 2017Staff

      Hi Totogata,

      Thanks for your inquiry. Please note that we are not affiliated with Westpac or any company we feature on our site and so we can only offer you general advice.

      If you are referring to Westpac Unsecured Personal Loan, please contact Westpac directly or visit their official site to submit an online application through them. You can also have a look on these pages for helpful info and where you can compare other options for you:
      Personal loans for casual and part-time employees
      Don’t let the pension get in the way of getting a loan

      Hope this helps.


  8. Default Gravatar
    PauloAugust 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???

    • finder Customer Care
      ElizabethAugust 16, 2016Staff

      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,


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