Important disclosure
Calculate your repayments for this loan
Your estimated repayment
$909
based on $29,000 loan amount for 3 years at 7.99%
Pros and cons
For Unsecured Personal Loan
Benefits
- Lower than average rate
- Flexible repayment options
- No security required
- Can apply online
- Can apply in branch
- Use the loan for any worthwhile purpose
- Approval is instant
Drawbacks
- Service fee charged
Westpac Rate Personal loan overview
For Unsecured Personal Loan
Details
Total repayments $32,710 | Interest rate type Fixed |
Borrowing range $4k - $50k | Security type Unsecured |
Loan term 1 to 7 years | Secured by |
Loan type Is Fully Drawn Advance | Repayment frequency Weekly, Fortnightly, Monthly |
Target Market Determination Visit Westpac Banking Corporation Ltd to view Target Market Determination. |
Features
Extra repayments Yes | Redraw facility |
Instant approval | Time to funding N/A |
Fees
Upfront Fee $250 | Ongoing Fee $12 Monthly |
Missed Payment Penalty $15 | Early Exit Penalty Fee $175 during first 2 years |
Permitted Loan Purposes
New Car | Used Car |
Motorcycle | Boat |
Debt Consolidation | Renovation |
Holidays | Medical Bill |
Shares | Student Loan |
Wedding |
Other Restrictions
Conditions, fees and charges apply
FAQs
How long are $3000 loans?
Medium amount loans can be repaid between 16 days and 2 years. Many personal loans have terms between 1 year and 5 years, though some are as short as 6 months while others last for 10 years.
Generally, the shorter a loan’s term, the more expensive your regular repayments may be, but the less total interest you’ll pay. Loans with longer terms mean more affordable repayments, but more interest charges over the full term.