Westpac Unsecured Personal Loans

So if you are looking to fund renovations, go on a holiday or moving all your debts to one loan. Then a Westpac Unsecured Personal Loan might be suitable for you.

Annual fixed rate
11.99 % p.a.
Comparison rate
13.15 % p.a.^
Establishment Fee
Monthly Service Fee

Looking to fund a project or consolidate debts?

  • Interest Rate
    11.99% p.a. fixed
  • Comparison Rate
    13.15% p.a.^
  • Establishment Fee
  • Prepayment fee (if term is longer than 2 years and you pay it out before)
  • Monthly Service Fee
  • Missed Payment Fee
  • Declined direct debit fee
  • Information Fee

Secure online application

  • Clicking the Apply Now button will take you to your Online Application on the bank's website.
  • Your application will take less than 10 minutes to complete

Some Benefits of Westpac Unsecured Personal Loans

  • Flexible Repayments

    Choose the frequency of your repayments to suit when you get paid (weekly, fortnightly or monthly) as long as you pay your loan back within 1 to 7 years

  • Make extra repayments

    Make extra repayments to repay your loan faster. If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan

  • Loan terms

    Flexible loan terms from 1 to 7 years. Borrow between $4,000 and $50,000 (conditions apply)

  • Refinance existing debt

    You can refinance an Australian, non-Westpac Personal Loan, credit card or store card.

The Westpac Unsecured Personal Loan

With a Westpac Unsecured Personal Loan, you can benefit from flexible loan terms and flexible repayment options, with superfast access to your funds once approved. Your unsecured personal loan will have a fixed rate of interest, and you can make extra repayments to pay off your loan faster.

What we love...

Aside from its money-saving capability, we also like the flexibility of this loan. With this personal loan, you can benefit from flexible repayments and flexible loan terms. That means you can choose weekly, fortnightly or monthly repayments, over a period of one to seven years. You can also choose to make extra repayments, but be aware a prepayment fee may apply.

With the Westpac Unsecured Personal Loan, we also love that the loan range is nice and broad, allowing you to borrow between $4,000 and $50,000 (conditions apply). This allows you to choose exactly how much you’ll need, whether it’s for home renovations or a holiday, debt consolidation or your big day.

What’s not so great...

One of the most important things to think about when comparing personal loans is how much each loan costs overall. With the Westpac Unsecured Personal Loan, you should take note of the $12 monthly service fee. If you have a five year loan, that monthly service fee will cost you $720. Not exactly an insignificant amount.

Of course, you should also take into account other fees that may apply as well. For example, if you choose a loan term of more than two years, but pay it out in less than two years, there is a prepayment fee of $175. This fee is waived, however, if you pay out your personal loan by re-financing to another Westpac personal loan.

Why should you choose this personal loan?

Choosing the Westpac Unsecured Personal Loan can make it easier to budget. Because it’s a fixed rate loan, you will know exactly how much your repayments will be, and how much the loan will cost overall – unlike a variable rate loan.

However, it is worth putting in the extra time to work out how much the loan will cost with all fees included. The comparison rate is helpful when scanning loan costs, but as this loan’s comparison rate is based on a loan amount of $30,000 and a term of five years, it will not provide you the true cost of your own loan unless you are indeed borrowing $30,000 over five years.

As this is an unsecured loan, you don’t need to worry about putting up collateral. You can use the loan for pretty much anything, including refinancing existing debt. It’s also nice to know that the application process is quick, and you could access your funds within an eligible Westpac account, within 60 minutes of final approval, 24 hours a day, 7 days a week, as an existing customer.

Overall Rating

A flexible unsecured personal loan with superfast application and access to money, providing you with a fixed rate of interest and the ability to make extra repayments.

Other Pros

  • Apply online in less than 10 mins and you could access funds in an eligible Westpac account, within 60 mins of final approval, 24 hours a day, 7 days a week as an existing customer
  • A fixed interest rate of 11.99% p.a. (comparison rate of 13.15% p.a.^) available for new loans only


  • $12 monthly service fee

Westpac Unsecured
Personal Loans

Apply now

How to apply for a Westpac Unsecured Personal Loan

If you are interested in applying for a Westpac Unsecured Personal Loan, then it is as easy as clicking the 'apply now' button to be redirected to the online application form. Take a look at the application criteria and what you will need to apply:

Application criteria

Make sure you meet the following criteria before you apply:

  • Aged 18 years or over
  • Regular permanent income
  • You need to be a permanent resident of Australia or,
  • Non-residents: need to hold an acceptable visa and have confirmed employment in Australia.

Required information

  • Identification
  • Financial information, including details of your existing financial commitments
  • Income and employment details

If this loan sounds like it is right for you, hit the 'apply now' button to get the application process started.

Westpac Unsecured Personal Loans