Westpac Personal Loan – Loan Review
Westpac offers fixed-rate personal loans with no early repayment fees. Apply online and get a decision quickly.
Applying does not commit you to any agreement.
Westpac Personal Loan
Westpac is one of New Zealand's big four banks and offers personal loans from $3,000 to $50,000 with terms from 6 months to 5 years. Rates start from 12.95% p.a. The loan can be used for any personal purpose including debt consolidation, home improvements, travel or major purchases.
Applications can be made online, in-branch or by phone. Existing customers can apply through Westpac One online banking in around 5 minutes. Approval typically takes 1-3 business days. Funds are deposited to your nominated account.
No establishment fee for online applications. No early repayment fees on variable rate loans.
✓ Pros
- No establishment fee online
- No early repayment fees
- Wide branch network
- Trusted major NZ bank
✗ Cons
- Rates from 12.95% p.a.
- Maximum $50,000
- Stricter criteria for new customers
Loan Example
Example: $12,000 over 36 months at 12.95% p.a. = approx. $404/month.
Loan Requirements
- ✓ NZ citizen or permanent resident
- ✓ 18 years or older
- ✓ Regular income
- ✓ Credit check required
- ✓ Valid NZ ID and proof of address
Loan Features
- Fixed interest rate
- No early repayment fees
- $3,000 to $50,000
- Terms 1 to 7 years
- Apply online or in branch
Frequently Asked Questions
1-2 business days after submitting your application.
The minimum amount at Westpac Personal Loan is $3,000.
Yes, Westpac Personal Loan offers an online application process. Visit their website to apply.