Product | Interest rate from | Comparison rate from | Upfront fee |
---|---|---|---|
Car Loan (Fixed, Secured) |
6.49% p.a.to 12.99% p.a. |
7.69% p.a.to 14.14% p.a.based on $30,000 |
$250.00 |
Flexi Loan (Variable, Unsecured) |
16.99% p.a. |
n/a |
$150.00 |
Hybrid or Electric Car Loan (Fixed) |
5.99% p.a. |
7.20% p.a.based on $30,000 |
$250.00 |
Personal Loan (Fixed, Unsecured) |
7.99% p.a.to 20.49% p.a. |
9.18% p.a.to 21.61% p.a.based on $30,000 |
$250.00 |
Unsecured personal loans
If you’re looking at borrowing between $4,000 and $50,000 and are after a loan with a fixed interest rate and a bit of flexibility, Westpac’s unsecured personal loan might just be the answer. The fixed interest rate means your repayments will stay the same over the life of the loan and you can also make additional payments on your loan thanks to the extra repayments facility. But keep in mind because it’s a fixed interest rate loan there is an early repayment fee if the term of your loan is more than 2 years and you pay it out in less than 2 years. Other fees to be mindful of include an establishment fee and ongoing monthly service fee.
Car loans
With Westpac’s secured car loan you can choose a loan amount between $10,000 and $100,000 and a term that falls between 1-7 years. As it’s a secured loan the car you’re purchasing will be used as security for the loan, which means forfeiting on your loan could result in Westpac seizing your car (so only borrow an amount you know you can comfortably afford). The great thing about Westpac’s loan is because the rate is fixed you’ll have repayment certainty. But remember an early repayment fee will apply if you try to pay out a loan of over 2 years before the 2 year period finishes.
Line of credit loans
The personal flexi loan from Westpac stands apart from the conventional personal loan, as it allows you to draw on funds up to an agreed limit ($4,000-$75,000). The best part is you will only be charged interest on the outstanding balance. Unlike the above personal loans we ran through above the Westpac flexi loan has a variable rate, so keep in mind it will go up and down according to the market. There’s an application and ongoing fee but no fee when you make withdrawals and no early repayment fee or exit fee if you want to pay off the loan early. Yep it’s called the flexi loan for a reason!
Once you’re confident a Westpac personal loan is your match, you can apply either online, over the phone or in branch. Here’s a quick runthrough of the info you may need to provide:
Mozo users have rated Westpac personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
The tax office gave us the largest taxi bill of our lives when we’re not even rich and I cried for about a week before having to sort out 2 personal loans to pay for it. Westpac were so lovely in helping us work out the best method. This was so upsetting so they helped us work it All out.
Read full reviewThe tax office gave us the largest taxi bill of our lives when we’re not even rich and I cried for about a week before having to sort out 2 personal loans to pay for it. Westpac were so lovely in helping us work out the best method. This was so upsetting so they helped us work it All out.
I love my WESPAC bank
Read full reviewI love my WESPAC bank
Great service and needed products
Read full reviewGreat service and needed products
Been with ova ten years won't give me a loan overdraft credit card they don't care about customers only ones with big biccis
Read full reviewBeen with ova ten years won't give me a loan overdraft credit card they don't care about customers only ones with big biccis