In search of a loan that you can use for a variety of purposes? How about one that allows you to borrow money without collateral? Well, you should take a look at what Westpac has to offer. Read on to find the best solution to your financial needs.
Westpac Online Personal Loan Features and Benefits
The bank offers an unsecured loan that can be availed for a variety of uses. If you choose to get the Westpac Online Personal loan, you can use it for debt consolidation, vacations, funding a wedding, car purchases and home renovations. In fact, you can even use this loan to fund several matters at once.
Perhaps the best thing about this loan is that you can get it without borrowing against your valuable possessions including your vehicle or your property. This makes the loan a more accessible and more convenient one.
Getting a Westpac Online Personal Loan
If this is what you have in mind, you are in luck because you can easily apply for this loan. Just make sure that you are an existing Westpac customer with an age of 18 years old or over. You should also be an Australian Permanent Resident or have an acceptable visa. Aside from this, you should present proof of employment within the country.
Moreover, the bank requires that borrowers should have a regular income deposited into their Westpac account in no less than 2 years. Don’t have one? You can still avail this loan if you have a Westpac Home Loan.
For a sure application head on to the Westpac website, make sure that you have your income, employment, financial commitment and other related documents on hand. Your driver’s license can also be useful for your application. Once you send in your application, you can get results within minutes. In fact, if you are an existing customer, the process will only take 5 minutes!
You can get a loan as low as $4,000 and as high as $50,000.
Westpac Online Personal Loan Fees and Charges
When you get this loan, one of the most important things you should take note of is the interest rate. For an unsecured Westpac loan, you can enjoy deduction from your rate if your application is approved on or before the 21st of March 2019. If you get your loan before this date, your interest rate will be 1% less, lowering it to 11.99%. However, keep in mind that this only applies for fixed repayments with a scheduled end-date.
If you choose to get flexible repayments without an end-date, you will be paying the interest only on the outstanding balance and not the assigned limit. Your variable interest rate will be 16.29% per annum. With this scheme, you will be paying the amount you prefer whenever you like.
With this kind of loan within your grasp, you can certainly get the funding you need without going through obstacles. Just make sure that you have the right documents and you can start your application ASAP.