Eligibility requirements:
- Minimum loan amount: $4,000
- Maximum loan amount: $50,000
- Minimum loan term: 1 year
- Maximum loan term: 7 years
- Credit score: Good to excellent
- Minimum age: 18 years
- Australian residency: Must be a permanent resident or citizen
Westpac Personal Loan application steps:
- Visit the Westpac Personal Loan page.
- Use the calculator to estimate your repayments.
- Get a quick quote without affecting your credit score.
- Complete the online application form.
- Receive a decision in under 60 seconds.
Frequently asked questions
How long does it take to get approved for a Westpac loan?
Approval is typically received within 60 seconds, with funds available in as little as 60 minutes for existing customers.
Is it required to explain why credit is being used?
Yes, during the application, you will need to specify the purpose of the loan, whether it’s for a car, debt consolidation, or another need.
Do I need to have a good credit score to be approved for a Westpac loan?
While a good credit score increases your chances of approval, Westpac offers options for a range of credit profiles.
Can I apply for a loan if I am self-employed?
Yes, self-employed individuals are eligible to apply, provided they meet Westpac’s income verification requirements.