Rating based on 22 reviews

Westpac Personal Loan

  • Personal loans up to $100,000
  • Low-interest starting from 8.49%
  • Repayment up to 7 years

In-page navigation

Westpac homepage
Author Westpac. Screenshot of Westpac website.
[Accessed May 2, 2023]

Westpac 200 – Professional financial service

Westpac is Australia’s first financial services provider and one of the oldest corporation, they are one of four key investment organisations in Australia and one of the major banks in New Zealand.

Westpac 200’s customer-facing divisions are:

  • Consumer Bank – accountable for sales and service to clients in Australia
  • Business Bank – liable for transactions and facility to micro, small-to-medium initiatives and marketable commercial clients in Australia
  • BT Financial Group Australia (BTFG) – Westpac’s Australian affluence and assurance corporate, accountable for the production and delivery of asset, retirement, treasure administration platforms, private banking, margin lending and equities broking
  • Westpac Institutional Bank (WIB) – has a wide variety of financial products and facilities serving both Australia and New Zealand including personal loans and short-term credit facilities.

Apply for an amount of $4,000 up to $50,000

It is very important that clients read the fine print. Failure to do so will make things difficult when you can no longer live up to the financial obligations you signed up for.

Westpac 200 unsecured personal loan

  • A client can apply for a flexible personal loan term of between 1 and 7 years.
  • Apply for an amount of $4,000 and $100,000 terms and conditions apply
  • Make extra payments to pay your loan off preferably earlier than the end date. There might be a prepayment a client has to pay.
  • Decide on a payment period that is suitable for your salary dates whether it is on a weekly, fortnightly or monthly basis.
  • You could use your money in a Westpac bank account in the interior of 60 minutes of the final agreement, on any day of the week.

Westpac – Personal loan

  • Loan Type Personal loans
  • Interest Rate 8.4912.99% p/a
  • Loan Amount up to $100,000
  • Repayment 1 year to 7 years
  • Initiation Fee $250

Benefits of Westpac

  • Get lower interest rates on personal loans
  • Apply online and get preapproved
  • Convenient and flexible repayment options

Personal loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This personal loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Westpac 200 – Easy & convenient personal loans

The terms and conditions normally state what is expected of you as a client and what is expected from a credit advance company or a lender.

Once all parties have signed on the dotted line, nobody can come and say they were not made aware of their expectations because when you sign for something, you are basically acknowledging your consent on the matter.

Money deposited straight into your account

Once all the policing work has been done, they will deposit the long or short-term loan on the account number you provided them with when you were applying. Depending on the kind of bank you use, the money may take hours or even a day to reflect in your bank account.

Credit Checks for personal loans

Credit checks normally scare clients but this shouldn’t be the case. The only reason they do credit checks is so they can determine if the customer in question will be able to pay for the personal loan. Should they decide to not proceed with your loan application, they will give you all the necessary reason as to how they came about such a decision. However, nothing stops you from going to correct the slight glitches identified and trying to apply with them again in future.

Loan repayment period

Unless a client wants to pay back the quick loan earlier than the agreed date, they have a maximum one year to seven years to repay back the loan.

Insufficient funds when payment is due

Clients will incur a dishonest fee in the event of funds being unavailable on the day of payment.

Can you get a loan extension?

Due to unforeseen circumstances, clients may request their loan to be extended. Being the considerate people that they are, they will allow customers for such a request on a special condition. The condition may be beyond the customer’s control. However, this is not to say that they will always be agreeing to a frequent emergency loan extension. This is why they always tell their clients to be certain that they will be able to pay the loan they are applying for.

Applying for another loan

Depending on the manner in which you repay for your loan, you might be eligible to apply for another one after a day or two of settling the previous one. There is generally not much time that you have to wait. All they require is confirmation that you have settled the old one and you are good to go!

Default fee

Although they try their best to sympathise with their clients, they are trying to run a successful business after all. That said, there is only so much “second chances” they can give. Clients incur a certain amount per day for an account that is in arrears. Therefore, the longer you take the account, the more arrears you have to pay. They also cannot offer bad credit loans if you do not pass their affordability checks. 

man holding thumbs up

Westpac is a trusted & reliable provider of personal loans

In our review, Westpac adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, where the granting the loan will not cause financial distress to the consumer.

✅ Westpac is a registered credit provider in Australia: ACL 233714

Customer Reviews & Testimonials

Very low-interest rate and easy repayment terms - their call staff are also well trained to help you with any questions.

Edward M
— Brisbane —

When in a bit of a financial bind I always turn to Westpac. Sometimes there is just more month than salary and you need a little more to help you over - I can do that with the low interest and af...

Richard N
— Hobart —

Westpac Contact

Contact Number


  • not available


Physical Address

Opening Hours

  • Monday 09:00 – 17:30
  • Tuesday 09:00 – 17:30
  • Wednesday 09:00 – 17:30
  • Thursday 09:00 – 21:00
  • Friday 09:00 – 21:00
  • Saturday 09:00 – 17:00
  • Sunday 10:00 – 17:00