Rates and fees verified as correct at 08 May, 2021. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Car Loan (Fixed, Secured)|| |
8.34% p.a.based on $30,000
|Unsecured Personal Loan (Fixed)|| |
11.32% p.a.based on $30,000
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).
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.
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:
Mozo users have rated Bankwest personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
I liked the bank because when I bought my house I needed to borrow 98% and Bankwest was happy to do this.Read full review
I liked the bank because when I bought my house I needed to borrow 98% and Bankwest was happy to do this.
The team at the bank are full of smiles and always friendly. Very helpful when I need something done or changed.Read full review
The team at the bank are full of smiles and always friendly. Very helpful when I need something done or changed.
† Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.