Westpac Personal Loan Rates & Fees, Review & Compare - Best Find

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Westpac Personal Loans

Unsecured Personal Loan

Funds within 60 minutes of final approval, 24 hours a day, 7 days a week for existing customers, where funds are disbursed to an eligible Westpac account


Minimum loan amount$4,000

Maximum loan amount$50,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Advertised rate12.99%

Comparison rate14.01%

Monthly repayments (approx)$345

Total repayments (approx)$12,443

Total interest repayments (approx)$2,443

Rate typeFixed

Secured or unsecuredUnsecured

Security required No

Encumberance/REVVS check fee$0

Application / establishment fee$250

Other Fees & Information

Monthly fee$10

Quaterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$175

Missed payment fee$9

For debt consolidation?Yes

Sponsored No

Telephone1300 720 697

Data accurate as of11/04/2016

Comparison rate warning The comparison rate of 14.01% p.a. is based on an Unsecured Personal Loan with a loan amount of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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Did you know you can compare 100’s of personal loans? Browse, filter and on our main personal loans comparison page.

Compare and review Westpac personal loan rates

Looking to make major purchase, go on a holiday or perhaps to consolidate your existing debts into one simple regular repayment? When comparing Westpac personal loans, there are other important things to consider and understand, other than just Westpac’s interest rates.

What personal loan options does Westpac offer?

Westpac has 1 personal loan product:

  • Westpac Unsecured Personal Loan


View the above table for detailed product information and a comparison of the interest rates, fees and features.

You can also review and compare Westpac car loans, Westpac home loan and Westpac credit cards.

Do you have a Westpac personal loans calculator?

Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.

How to apply for a Westpac Personal Loan?

If you’d like to apply online for a Westpac personal loan, just scroll up and click on “Learn more” to be taken to Westpac’s secure online application form. Before you apply, be sure to learn about Westpac’s personal products, fees and eligibility criteria. Give yourself around 30 minutes to complete the application.

Westpac’s personal loan eligibility criteria

Before you apply for a personal loan, be sure to understand and meet the Westpac’s lending criteria. Below is high-level overview of Westpac’s criteria:

Westpac’s minimum requirements for a personal loan

  • Minimum age of 18
  • Earn a minimum of $15,000 per annum
  • An Australian citizen, permanent resident or have a valid visa

Information you’ll need to provide

Whether at the Westpac branch or online, make sure to have the following nearby:

  • Proof of income. A verifiable and steady employment. You may be required to provide copies of your most recent pay slips and employer’s contact information
  • A list of your assets, expenses and liabilities
  • Driver’s licence (if you have one) or other forms of ID

Are you self-employed?

If you’re self-employed, you will also need to provide:

  • Financial statements for the last year
  • Your most recent personal/business tax return

Other things to keeping mind when applying with Westpac

  • It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
  • Credit cards with large credit limits are seen as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off in addition to your Westpac personal loan

There are many additional factors Westpac consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save!

What can you use a Westpac personal loan for?

You can borrow for almost any worthwhile purpose. No, going to the casino and putting it all on black is not a worthwhile purpose.

Examples of common loan purpose Westpac will lend for:


Additional product information

Westpac’s minimum and maximum personal loan amounts and terms

You can borrow between $4,000 and $50,000. Over terms between 1 year and 7 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

Westpac’s repayment schedule

Westpac allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

Westpac allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early.

Redraw facility

Westpac’s Variable Rate Personal Loan gives you the option of being able to make redraws.