Westpac Unsecured Personal Loan

This loan allows you to borrow between $4,000 to $50,000, with interest rates fixed at 8.99% p.a. Fees apply.

This unsecured personal loan from Westpac offers you a fixed interest rate. This means that your repayments will remain consistent throughout the life of your loan, making budgeting easy. Loan amounts range from $4,000 up to $50,000 with terms between 1 to 7 years.

3 things you should know about this loan:

  • Fixed rate but extra repayments allowed. With a fixed rate, your repayments will remain the same every month. You can also make extra repayments without penalty but there is a fee if you repay the entire loan early.
  • Possible interest rate discounts for existing Westpac customers. If you hold existing Student, Youth and Westpac Plus accounts, you may qualify for a discount.
  • High fees. You will need to pay a $250 application fee and a $12 monthly fee.
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8.99% (fixed)

Interest Rate (p.a.)

10.17%

Comparison Rate (p.a.)

$4,000

Min Loan Amount

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Details

Product NameWestpac Unsecured Personal Loan
Interest Rate (p.a.)8.99% (fixed)
Comparison Rate (p.a.)10.17%
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

  • Competitive rates. You will get a fixed rate of 8.99% 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): 8.99% p.a.
  • Comparison rate (fixed): 10.17% 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

$
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
⭐Special Offer: Earn up to 50,000 Qantas Points with a personal loan from Symple.
Borrow up to $50,000 with interest rate from 5.75% p.a. to 25.99% p.a. and earn 1 Qantas Point for every $1 borrowed.
Plenti Personal Loan

From 5.43% (fixed)
5.43%
$2,001
3 to 7 years
$0 to $999
$0
You'll receive a fixed rate between 5.43% 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.

⭐ Finder Exclusive: Eligible applicants with excellent credit will receive rates starting from 5.43% p.a. (comparison rate 5.43% p.a.). Offer ends 31 July 2021. T&Cs apply.

Citi Personal Loan Plus
8.90% (variable)
9.18%
$5,000
3 to 5 years
$199
$0
You'll receive a guaranteed rate of 8.90% p.a. with a comparison rate of 9.18% p.a. if you're approved. Note: This rate may vary during the loan term.
A credit limit up to $75,000 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. The interest rate doesn’t change based on your risk profile, so you know your rate before you apply.
Harmoney Unsecured Personal Loan

From 5.35% (fixed)
6.14%
$2,000
3 to 5 years
$575 ($275 for loans of below $5,000)
$0
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 $50,000 and repay your loan over 3 or 5 years terms.
Alex Bank Personal Loan

From 5.45% (fixed)
5.45%
$2,100
6 months to 5 years
$0 (Waived $295 establishment fee)
$0
You'll receive a fixed interest rate from 5.45% 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 11 August 2021.
SocietyOne Unsecured Personal Loan

From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
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.
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
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%
$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: Apply and settle a NOW Finance debt consolidation loan via Finder by 30 September 2021 for your chance to win $2000 paid off your debt. T&Cs apply.
OurMoneyMarket Personal Loan

From 5.45% (fixed)
6.07%
$2,001
1 to 7 years
From $250 to $450
$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.
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: Secure a reduced interest rate of 8.99% p.a. for a limited time only. Apply for up to $50,000 to use for a variety of purposes without needing to add security.
Wisr Personal Loan

From 6.49% (fixed)
6.76%
$5,000
3 to 7 years
$195
$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: Wisr's standard establishment fee $595 will be reduced to $195 for applications submitted through Finder. 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.
Heritage Bank Fixed Personal Loan
7.99% (fixed)
8.62%
$5,000
1 to 7 years
$200
$5
Choose a fixed rate loan and receive a comparison rate of 8.62% p.a.
Fixed rate loans are available up to $100,000 on terms from 1 to 7 years.
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 5.43% (variable)
5.43%
$2,001
1 to 3 years
$0 to $999
$0
You'll receive a variable rate from 5.43% p.a and 17.89% 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.

⭐ Finder Exclusive: Eligible applicants with excellent credit will receive rates starting from 5.43% p.a. (comparison rate 5.43% p.a.). Offer ends 31 July 2021. T&Cs apply.
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
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.
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Personal Loan Offers

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.
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 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
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

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