Westpac Unsecured Personal Loan Rates & Fees | finder.com.au

Westpac Unsecured Personal Loan

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

  • The 9.99% p.a. Interest (11.16% p.a. Comparison) rates are for customers who apply and get approved by 18 May 2021. Terms and conditions apply.

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 years.

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.
  • High fees. You will need to pay a $250 application fee and a $12 monthly fee.

9.99% (fixed)

Interest Rate (p.a.)

11.16%

Comparison Rate (p.a.)

$4,000

Min Loan Amount

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Details

Product NameWestpac Unsecured Personal Loan
Interest Rate (p.a.)9.99% (fixed)
Comparison Rate (p.a.)11.16%
Interest Rate TypeFixed
Min Loan Amount$4,000
Max. Loan Amount$50,000
Loan SecurityUnsecured

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.

Features of the Westpac Unsecured Personal Loan

  • Special Offer. The rates are for customers who apply and get approved by 18 May 2021. Terms and conditions apply.
  • Competitive rates. You will get a fixed rate of 9.99% p.a.
  • Establishment fee. You will have to pay establishment fee of $250.
  • Fees. A monthly $12 fee applies and $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 and a maximum of 7 years.
  • 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.
  • Interest rate (fixed): 9.99% p.a.
  • Comparison rate (fixed): 11.16% p.a.
  • Loan term: 1 to 7 years

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.

Compare other personal loans

Data updated regularly
$
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)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
Harmoney Unsecured Personal Loan

From 6.99% (fixed)
7.79%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
Plenti Personal Loan

From 6.39% (fixed)
6.39%
$2,001
3 to 7 years
$0 to $999
$0
You'll receive a fixed rate between 6.39% p.a. and 17.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 3 years. Interest and comparison rates calculated for a loan term of 5 years.
NAB Personal Loan Unsecured Fixed

From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
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
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
Citi Personal Loan Plus
8.90% (variable)
9.18%
$5,000
3 to 5 years
$199
$0
You'll receive a variable rate of 8.90% p.a. with a comparison rate of 9.18% p.a.
A credit limit up to $40,000 that you can continue to draw down over terms up to 5 years. Note: Monthly account service fee will be waived for applications submitted before 30 September 2021.
Alex Personal Loan

From 5.49% (fixed)
5.49%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.49% p.a. to 19.99% p.a. based on your risk profile
Borrow between $2,100 and $30,000 from 6 months to 5 years. Note: The $295 establishment fee will be waived for loan applications submitted by 3 May 2021
OurMoneyMarket Personal Loan

From 5.35% (fixed)
6.31%
$2,001
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 5.35% 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 April 30th to secure a discounted rate of 5.35% p.a. (comparison rate: 6.31% p.a.) for the first 12 months.
NOW Finance No Fee Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
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.


⭐ Finder Exclusive: Get a free $200 Westfield e-gift card once your loan application has settled. Offer ends on 30 April 2021. T&Cs apply.
Latitude Personal Loan (Unsecured)

From 7.99% (fixed)
9.24%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 7.99% p.a. and 22.99% 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.
SocietyOne Unsecured Personal Loan (2-3 years)

From 6.39% (fixed)
6.39%
$5,000
2 to 3 years
from 0% to 5% of the loan amount
$0
You'll receive a fixed rate between 6.39% p.a. and 17.49% 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.
SocietyOne Unsecured Personal Loan (5 years)

From 6.39% (fixed)
6.39%
$5,000
5 years
from 0% to 5% of the loan amount
$0
You'll receive a fixed rate between 6.39% 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.
Wisr Personal Loan

From 6.49% (fixed)
6.76%
$5,000
3 to 5 years
$595
$0
You'll receive a fixed rate between 6.49% p.a. and 19.95% 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.
CUA Unsecured Fixed Rate Personal Loan
9.39% (fixed)
9.64%
$5,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 9.39% p.a.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
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.
Plenti Variable Rate Personal Loan

From 6.39% (variable)
6.39%
$2,001
1 to 3 years
$0 to $999
$0
You'll receive a variable rate from 6.39% p.a and 16.89% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 12 months. Benefit from transparent costs and a rate estimate before you apply.
Pepper Money No Fee Personal Loan

From 5.95% (fixed)
5.95%
$5,000
18 months to 7 years
$0
$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 $50,000 and use for a range of purposes. Pay no upfront, early repayment or ongoing fees.
CUA Unsecured Variable Personal Loan
11.89% (variable)
12.15%
$5,000
1 to 7 years
$175
$0
You'll receive a variable rate of 11.89% p.a.
Borrow from $5,000 with the option for flexible repayments and no monthly fees.
NAB Personal Loan Unsecured Variable Rate

From 6.99% (variable)
7.91%
$5,000
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
An unsecured loan up to $55,000 you can use for a range of purposes. Benefit from fee-free additional repayments and a redraw facility. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
People's Choice CU Discounted Personal Loan

From 7.99% (fixed)
8.35%
$10,000
1 to 10 years
$250
$0
You'll receive a fixed rate from 7.99% p.a. for 5 years
Secure this loan with a vehicle up to 7 years old and benefit from long loan terms up to 10 years and pre-approval.
People's Choice CU Unsecured Personal Loan (Low Rate)
8.99% (fixed)
10.73%
$2,000
1 to 7 years
$250
$0
You’ll receive a fixed rate from 8.99% p.a. based on your risk profile
Borrow between $2,000 and $40,000 up to 7 years. No penalties for early payout or additional repayments and no monthly account fee.
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Compare up to 4 providers

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 24.79% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for ANZ Fixed Rate Personal Loan
ANZ Fixed Rate Personal Loan

You'll receive a fixed rate of 10.5% 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
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 20.49% 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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18 Comments

    Default Gravatar
    Jason
    February 28, 2019

    Hi there,

    Just wondering if I am able to get a personal loan of $10,000 if I’m on a permanent part-time job and permanent resident and what would be the interest if it is three years period for this loan?

      Avatarfinder Customer Care
      Jeni
      March 2, 2019

      Hi Jason,

      Thank you for getting in touch with Finder.

      As per this page, it requires applicants with regular income. I suggest that you click the ‘Go to site’ button above to be redirected to Westpac’s official loan application page.

      Please make sure that you’ve reviewed the eligibility criteria of the loan and read the relevant T&Cs or PDS of the loan before making a decision and consider whether the product is right for you. You may also contact Westpac’s team to know your chances of getting an approved personal loan application with them.

      If you are still looking around, kindly refer to our list of personal loans for casual or part-time employees. As per the said page, you will just need to ensure you meet the minimum income criteria with regards to employment requirements. This is usually around $15,000-$20,000 p.a.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    william
    November 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

      Avatarfinder Customer Care
      John
      November 28, 2018

      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. It should redirect you to their website.

      If you’d like to compare your options, you may check other personal loans using our comparison table.

      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!

      Cheers,
      Reggie

    Default Gravatar
    precious
    August 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
      Joel
      August 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 refer to our comparison table with a list of personal loans for temporary residents. 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:

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

      Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.

      Hope it helps!

      Cheers,
      Joel

    Default Gravatar
    Thomas
    April 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
      Joel
      April 27, 2018

      Hi Sharon,

      Thanks for leaving a question on Finder.

      You still may be eligible for a Centrelink loan. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available.

      You can click the link above to compare your options. Please click the name of the lender, with green checkmarks to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      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.

      Cheers,
      Joel

    Default Gravatar
    gem
    January 31, 2018

    where do pensioners get a personal loan ?

      Avatarfinder Customer Care
      Jonathan
      February 23, 2018

      Hi Gem,

      Thanks for your inquiry!

      Although the choices may be limited, there are loan options you still could possibly take advantage of. Feel free to visit our pensioner loans page to explore and read more about other loan options that you may be eligible for. On the page is a comparison table you can use to find the right lender for you. Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.

      A friendly reminder, please review the lender’s eligibility criteria and terms and conditions for certain restrictions, limitations, fees, and exclusions that apply.

      Best,

      Jonathan

    Default Gravatar
    Kathleen
    December 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

      Avatarfinder Customer Care
      Harold
      December 13, 2017

      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.

      Cheers,
      Harold

    Default Gravatar
    Grant
    November 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

      Avatarfinder Customer Care
      Joanne
      November 13, 2017

      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 our page about personal loans with cosigners 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.

      I hope this helps.

      Cheers,
      Joanne

    Default Gravatar
    Totogata
    July 6, 2017

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

      Avatarfinder Customer Care
      Rench
      July 7, 2017

      Hi Totogata,

      The answer to your question would depend on how effective you meet the eligibility requirements of your chosen lender.

      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. However, here are the basic eligibility requirements of Westpac:

      • 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

      You can also have a look on these pages for helpful info and where you can compare other options for you:

      Hope this helps.

      Cheers,
      Rench

    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???

      Avatarfinder Customer Care
      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,

      Elizabeth

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