Bankwest personal loans

What personal loans do Bankwest offer?

Unsecured personal loan

With Bankwest’s unsecured loan you can borrow between $5,000 and $50,000 and choose a term that falls between 3-7 years. The interest rate attached to the loan is fixed, meaning your rate won’t change over the life of the loan. While this is Bankwest’s no frills option it does come with a bit of flexibility allowing you to choose whether you will repay your loan weekly, fortnightly or monthly and you’ll also get an extra repayments facility meaning you can put spare cash to good use by paying off the loan early. But keep in mind repaying the loan before 24 months has passed will result in an early repayment penalty of a few hundred dollars.

Flexible personal loan

As the name suggests, this personal loan comes with plenty of flexibility. You’ll have the ability to deposit additional payments into your loan thanks to the fee free extra repayments feature, without the slap of an early repayment fee if you try to pay it out early and the redraw facility means you’ll have the option of drawing upon those extra repayments. On top of these great features, the flexible personal loan from Bankwest also allows you to set up your repayments on a cycle that suits you (e.g weekly, fortnightly or monthly). But you’ll pay for all this flexibility in the form of a higher interest rate and application fee. Just like the unsecured option, the flexible personal loan from Bankwest lets you borrow an amount from $5k-$50k, however the minimum term is lower at 1 year (maximum 7 years).

Car loan

If you’re a borrower looking for a means to fund your upcoming car purchase, there’s also a car loan available from Bankwest. While you can choose a term that sits between 3 to 7 years, one of the biggest drawcards of Bankwest’s car loan is the high maximum limit, allowing you to borrow up to a whopping $100,000 (minimum $10,000). Generous when you consider many providers put caps on their car loans of up to $50,000. Like the personal loan options from Bankwest, the car loan comes with a fixed interest rate providing repayment certainty and you can set your repayments up weekly, fortnightly or monthly.

Bankwest personal loan features at a glance

• Fixed interest rate: All of Bankwest’s personal loans come with a fixed interest rate, which means the loan’s rate will stay the same over the life of the loan keeping you safe from fluctuations in the market.

• Extra repayments facility: When you come into extra cash you can put it towards paying off your Bankwest personal loan sooner, through the helpful feature of an extra repayments facility. Just keep in mind, some Bankwest personal loans come with an early repayment penalty if you try to pay off your loan in the first 24 months.

How do you apply for a Bankwest personal loan?

Once you’ve decided Bankwest is your borrowing match, you can apply for one of its loans online. Here are some of the details you’ll need to provide:

• Two forms of identification e.g driver’s licence, birth certificate or passport
• Income details including your employer’s contact details
• Plus you current expenses and any assets you own