Westpac Unsecured Personal Loan

Moneybuddy says

The Westpac Personal Loan can be used for a variety of purposes like debt consolidation, going on holiday, renovations at home, a stunning wedding or many other reasons. This is an unsecured loan with a fixed interest rate so you can be certain with your repayments. If the loan is for a car you can also look at the Westpac secured car loans. The loan term on the Westpac Personal ranges from 1 to 7 years. Annual rate is 12.99% p.a. (comparison rate 14.14 p.a.).

The Basics

Interest Fixed

Security Unsecured

Personal loan type Personal Loan

Start rate p.a. from 12.99%

Comparison rate p.a.* 14.14%

Max. loan $50,000

The cool stuff: features

Loan insurance available? No

Repayment schedule Weekly or Fortnightly or Monthly

Online application Yes

Redraw facility No

Early repayment allowed Yes

Additional repayments allowed Yes

The Facts & Figures

Min. loan $4,000

Min. term 1 year

Max. term 7 years

The ugly stuff: fees

Signup fee $250

Exit fee $175

Monthly fee $12

Comparison Rate Disclaimer -

Early Repayment Fee -

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Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Westpac says

Single applications only.* Plan ahead with a flexible loan term of between 1 and 7 years. Borrow between $4,000 and $50,000 (conditions apply). Make extra repayments to pay your loan off sooner (prepayment fee may apply). Choose a repayment frequency to suit when you get paid - weekly, fortnightly or monthly. You could access your funds in a Westpac bank account within 60 minutes of final approval, 24/7. This offer is only available for the Unsecured Personal Loan product and not available for joint applications. Credit criteria, fees, and charges apply.

Key features

  • Borrow between $4,000 and $50,000
  • Option to repay your loan faster when you have additional funds
  • Prepayment fee (applies if you choose a term greater than 2 years, and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan).
  • Loan terms of 1 to 7 years to suit your budget.
  • Fixed interest rate for the life of the loan

Pros

  • 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 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
  • Available for single applicants only. Credit criteria, fees and charges apply

Cons

  • $250 Establishment Fee
  • $12 Monthly service Fee

Terms & conditions

Full details on the offer can be found on our core site: https://www.westpac.com.au/personal-banking/personal-loans/

 

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home > compare personal loans > Westpac personal loans > Westpac Unsecured Personal Loan