Westpac Unsecured Personal Loan

Rates and fees last updated on

Take advantage of flexible terms as well as a $0 establishment fee for a limited time.

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 14.14% 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).

If you apply as a single applicant before 7th December 2017, you can also take advantage of a waived establishment fee. Find out more details in this review.

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


  • Special offer for existing Westpac customers
  • Flexible repayment schedule
  • Loan terms extend up to 7 years


  • Monthly service fee payable
  • $0 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.

For a limited time, you will pay no establishment fee with this loan. You just need to apply as a single applicant before 7th December 2017 to take advantage of this offer.

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.
  • Waived establishment fee. For a limited time, you will pay no establishment fee with this loan. This offer is available for single applicants that apply before 7th December 2017.
  • Fees. A monthly $12 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.

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This page was last modified on 3 October 2017 at 10:11am.

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4 Responses

  1. Default Gravatar
    TotogataJuly 6, 2017

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

    • Staff
      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.


  2. 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???

    • Staff
      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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