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Bankwest Personal Loan Calculator & Product Overview

What would it take to make your plans a reality? A Bankwest personal loan could be it. Whatever your goal – a home renovation, holiday, or wedding – you can reach it sooner when you apply online below. To find the best option, be sure to compare options and calculate repayments first.

Bankwest Personal loan approval time vary; some applications will be approved on the same day. If they require additional information, it anywhere between 2 and 5 business days.

Bankwest Personal Loan Calculator

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3 months


Flexible Personal Loan

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Whatever it is you’re dreaming about, a Bankwest Flexible Personal Loan puts you in control. Pay it off early, make additional repayments and redraw additional repayments you’ve made all at no extra cost!

Unsecured Personal Loan

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Looking to do home improvements, take a well-earned holiday or simply consolidate your outstanding debt? Whatever it is you're dreaming about, make it happen sooner with our low rate Unsecured Personal Loan.

Flexible Personal Loan

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Manage your money your way with flexible repayments and a redraw facility. Plus, there’s no security required. provides factual information in relation to financial products. While attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at time of publishing. The information published on is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with recommends that you read the relevant PDS or offer documentation before taking up any financial product offer. For more information please see's Terms of Use and Services Guide.

Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

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Bankwest personal loans – Get the things you want sooner

The Bank of Western Australia – which trades under the name Bankwest – is a division of the Commonwealth Bank Group, aka one of the big four. Bankwest was established in 1895 by the WA Government as the Agricultural Bank of Western Australia.

Since then, Bankwest has come a long way, from servicing the needs of state farmers to providing credit cards, home loans, and personal loans, plus more to many Aussies.

In this guide, we take a closer look at one of its most versatile products. If you want to finance your home renovation, holiday, wedding, or other big things, here’s everything important to know about Bankwest personal loans.

Types of loans offered by Bankwest

At the time of writing, Bankwest offers the following loan options:

  • Unsecured personal loan. This product doesn’t require an underlying asset to guarantee the debt. Therefore, it’s best for opportunities and needs that require a simple application process and quick funding. The loan is great for buying a car, debt consolidation, or a holiday, for instance. You can access at least $3,000 up to $50,000.
  • Secured car loan. This personal loan uses your asset to back up the borrowed funds. Suitable assets include cars and motorcycles that are either less than 7 years old or have a minimum value of $10,000. This allows you to borrow at least $10,000 up to a maximum of $100,000 (120% of your security’s value). You can use the funds to buy a car, consolidate debt, or renovate your home.

If you’re looking to finance your car purchase via Bankwest, get the info you need in our Bankwest car loan guide.

A closer look at Bankwest personal loan features

  • Fixed rate. You’ll have peace of mind and a simpler budget from repayments that never change as long as you’re paying off your debt.
  • Loan terms. Repayment periods range from 3-7 years.
  • Repayment frequency. You have the flexibility to choose weekly, fortnightly or monthly repayments. Give our Bankwest personal loan calculator a go if you want to estimate your monthly repayments.
  • Extra repayments. To clear your debt quickly, simply pay more than the minimum required whenever you please.
  • Redraw facility. An online redraw facility is available via the Bankwest app when you need your extra repayments back.

Interest rates, fees, and charges

The Bankwest personal loan rate for secured credit is set lower at 7.99% vs the 10.99% you get when you opt for unsecured credit. The following list of fees and charges apply to both types of products:

  • Application fees – waived at the time of writing, but this is subject to change
  • Monthly fees – $5
  • Early repayment fees – $250 (only if you close the loan in the first 24 months).
  • Late payment fee – $25


  • Plenty of repayment flexibility. You get to choose your preferred repayment frequency and terms of up to 7 years. You can also make extra repayments and withdraw them when you need to.
  • Joint borrowing. Bankwest says borrowers with joint loans can boost their chances of approval when they apply with the same person.
  • You have the option to borrow more. With secured credit, it’s possible to borrow up to $100,000, an amount that can cover many big projects or purchases.


  • Early repayment fees. Although you can make unlimited extra repayments, exiting your contract within the first 2 years incurs a fee.
  • Loan amounts start from $3,000. If you’re looking for a small personal loan of less than this amount, you’ll have to look elsewhere.
  • Rates are not as competitive. You’ll likely find other lenders who offer cheaper rates.

Eligibility and what you need

Bankwest personal loan requirements include the following:

  • Be at least 18 years of age
  • Be a permanent Australian resident
  • Have a regular income of over $20,000 a year
  • Provide at least two forms of identification: an Australian driver’s licence, Medicare card, passport, or birth certificate.
  • Provide details and info about your employment, income, expenses, assets, credit cards, and other debts.

Bankwest video

Applying for a personal loan from Bankwest

To apply for a Bankwest personal loan online, scroll up and click “Go to Site.” Typically the application process takes 10 minutes or less. Fill in the form with your personal, financial, and loan details, and then submit it. According to Bankwest, you’ll get an instant online response.

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