Important disclosure

Westpac Personal Loan Calculator & Products Overview

Use the personal loan calculator below, to view an estimate of your potential loan repayments for a Westpac personal loan. Adjust your loan amount and term to calculate a close approximation of your 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. The results do not constitute an offer credit from Westpac.

Calculate repayments for Westpac personal loans

Loan Amount



3 months


Westpac Unsecured Personal Loan

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A personal loan can help you to get what you’ve always wanted. Plan ahead with a flexible loan term of between 1 and 7 years. Apply for between $4,000 and $50,000 (conditions apply). Make extra repayments to pay your loan off sooner (prepayment fee may apply). Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly.

Temporary Overdraft

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A Temporary Overdraft lets you access extra funds through your bank account for up to 45 days. Helps cover short-term financial shortfalls.

Unsecured Personal Loan

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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 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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Westpac personal loans – Explore this Big Four finance option

Westpac is right at the front of the “Big Four” pack when it comes to who launched first and who’s been around for longer. Formerly the Bank of New South Wales, this over-200-years-old financial institution offers a range of products for the purpose of “helping Australians succeed.”

This includes home loans, credit cards, savings accounts, and our product of the moment – personal loans. A personal loan from Westpac is handy if you want to fund one or more things on your wishlist, whether that’s a car, holiday, home reno, or wedding. It also works great for debt consolidation.

Keep reading to find more details about how Westpac personal loans stack up.

Westpac personal loans at a glance

  • Loan amounts – Range from $4,000 to $100,000.
  • Repayment periods – Range from 1 to 7 years.
  • Interest rates – Rates are fixed and vary with each loan type
  • Security – Both secured and unsecured options are available
  • Uses – Acceptable loan purposes include debt consolidation, car purchases, travel, renovations, and weddings. You can also fund several things at once.
  • Pros – Westpac offers large unsecured loans of up to $50,000, so you can easily cover big expenses.
  • Cons – You’ll need to borrow at least $4,000, which means smaller personal loans are out of the question. The loans also come with several fees and charges.
  • Best for – Westpac personal loans are best for applicants who want to deal with a reputable big bank that offers flexible options.

Loan options offered by Westpac

Here’s a breakdown of personal loan offers from Westpac:

  • Unsecured personal loan – You can borrow between $4,000 and $5,000 without offering your car as security. The interest rate is fixed over terms of 1 to 7 years.
  • Flexi loan – This is a line of credit, meaning it allows you to withdraw funds whenever the need strikes without reapplying. Interest is payable only on the funds you’ve used, and you can choose any repayment amount you like as long as it’s above the minimum. According to Westpac, this option requires a lot of discipline to pay off the principal.
  • Overdrafts – This option comes with a variable rate and provides unsecured funds up to an agreed limit. It’s designed to cover short-term, unexpected expenses and is easily accessible via your everyday Westpac bank account.
  • Car loan – In exchange for offering your car as security, you get a low, fixed rate and amounts of between $10,000 and $100,000. For more information on buying a new or used ride with Westpac, read our Westpac car loans guide.

Features of Westpac personal loans

  • Repayment frequency. You can opt for weekly, fortnightly, or monthly repayments, depending on what suits your income cycle or budget. To check out your estimated repayments, use our Westpac personal loan calculator.
  • Extra repayments. You can make additional repayments. However, if you choose a loan term of over 2 years but pay off your debt in less than 2 years, you’ll incur a prepayment fee. This does not apply if you pay off your debt by refinancing to another Westpac personal loan.
  • Financial hardships. Borrowers who can’t make repayments can apply for financial hardship. Assistance usually takes the form of reduced repayments or an extended repayment period.

Rates, fees, and charges

Westpac offers both fixed rate and variable rate options. A fixed rate means your repayment amount never changes, plus you’re protected from any interest rate hikes. On the other hand, a variable rate may change without notice, though you may save if rates fall.

The following fees and charges apply, depending on the Westpac personal loan you choose:

  • $250 establishment fee
  • $12 monthly service fee
  • $175 prepayment fee
  • $15 missed payment fee
  • $10 bank cheque fee

Other fees and charges may also apply.

How to qualify for a Westpac loan

Westpac’s eligibility criteria is similar to other Australian lenders. You’ll need to be:

  • At least 18 years old
  • Earning a regular and permanent pre-tax income of at least $35,000 per year
  • An Australian citizen, permanent resident, or holder of an acceptable visa
  • An applicant with confirmed employment (for non-residents)
  • Taking out the funds for personal use

You’ll also need to provide some details, including:

  • Your employer’s contact info and address.
  • Income details for the last 3 months, including payslips, bank statements, and rental income (only if your pay isn’t already going into a Westpac bank account).
  • Recent tax information (for self-employed applicants).
  • Details about your assets, savings, investments, existing liabilities, and regular monthly expenses.

How to make a Westpac loan application online

If you decide to apply for a Westpac personal loan, you can access the online application form by clicking “Go to Site” in BestFind’s comparison table above. Before you do so, it’s best to check your credit report and correct any errors – is a good place to start. Keep in mind that Westpac works with 3 credit bureaus which are Equifax, illion, and Experian.

You should also avoid multiple applications because the lender checks your credit history with every application. Too many enquiries will dent your credit rating and mess with your chances of approval. In the same vein, things like paying bills on time and closing credit accounts that you no longer use can help you qualify.

The online application process only takes 10-15 minutes, and you’ll get an instant response once you submit your details. If approved, you can also accept the offer online, at which point Westpac will disburse the funds to your account (this happens right away if you’re already a customer).

The different types of Westpac personal loans

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