Westpac Personal Loans

About Westpac

As Australia’s oldest bank, Westpac has a long history of providing Australians with sound financial advice. The Westpac group also includes the St.George, Bank of Melbourne, BankSA and RAMS brands, offering a full suite of financial services between them.

Westpac’s personal loans can be used for refinancing or consolidating debts, or for covering major expenses such as travel, holidays or renovations. By adjusting the length of your loan term, and the frequency of your repayments, you can prepare a Westpac personal loan that’s both affordable and suitable for your finances.

In addition to personal loans, Westpac also has Flexi Loans and personal overdrafts available, putting multiple options for managing your personal finances at your disposal.

Westpac can be contacted via phone or email, and has a network of branches to visit across Australia.

Features of a Westpac personal loan

Westpac’s personal loan has a number of flexible options to suit borrowers in different financial situations. Valid for borrowing between $4000 and $50,000, the loan has a fixed interest rate, but doesn’t need to be secured against an asset.

Your Westpac personal loan can be paid back over a term of 1 to 7 years. You’ll also have the option to make extra repayments to get your loan paid off ahead of time, which can help you to reduce the total interest you’ll pay on your loan. Existing Westpac customers may also be eligible to receive special offers when applying for a personal loan, depending on availability.

What RateCity says

In terms of interest rates, Westpac’s personal loan is slightly higher than the market average. It also ongoing an upfront fees  that are higher than market average, though the establishment fee may be waived for existing Westpac customers, depending on availability.

By selecting a loan term of 1 to 7 years, and choosing weekly, fortnightly or monthly repayments, you can adjust your loan repayments to provide maximum affordability and efficiently manage your debts.

Westpac’s personal loan offers the option to make extra repayments and pay off the balance early, reducing the amount of interest you pay on your loan. While it doesn’t have an early exit penalty as standard, if you pay off a personal loan with a term longer than two years in less than two years, a prepayment fee may apply.

Personal Loans from Westpac

Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
  • No early exit penalty (unless loan is paid in <2 years)
  • Can apply online
  • Can apply in branch
  • Available for 457 visa holders
  • Monthly fee charged
  • Application fee charged
Customer Service
  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Live Chat
  • Branch
  • SMS and email alerts
Applying and Eligibility

Applications for Westpac’s personal loan can be made online, over the phone, or at your nearest Westpac branch.

You’ll need to provide evidence that you are over 18 year of age, have regular permanent income, and are either a permanent resident of Australia or hold an acceptable visa.

Compare your product with the big 4 banks, or add more products to compare