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Personal overdrafts

 

Unsecured Personal Overdrafts


An Unsecured Personal Overdraft is a revolving line of credit, and ideal if you like to keep a degree of control over your expenditure, but value financial flexibility as well.

Benefit summary
  • $250 to $25,000 ready to use again and again
  • Easy access to your funds through ATMs, EFTPOS, cheques, automatic payments, Telephone Banking, Internet Banking, BPAY® and our branches
  • Interest paid only on the money you use (provided fees and interest are paid when debited to the account)
  • No required minimum monthly repayment1
  • No security required
  • Low monthly service fee2
Once-only application
You only need to establish an Unsecured Personal Overdraft once. After that, you can redraw and pay money as it suits you.

You can apply for an Unsecured Personal Overdraft by visiting any of our branches.

Adobe Acrobat Reader PDF Download Personal Overdraft application form (PDF 260kb)

Temporary Personal Overdrafts


If you need extra cash for a short period, a Temporary Personal Overdraft is a convenient, economical way to ease your cash flow. Taking your preferred amount into consideration we will make a decision based on our qualifying criteria.

Benefit summary
  • Borrow extra cash for up to 45 days
  • You only pay interest on the money you use (provided fees and interest are paid when debited to the account)
  • You pay a low establishment fee
  • No security required
You can apply for a Temporary Personal Overdraft by calling Telephone Banking on 132 032.

Personal overdraft pricing and conditions2



Loan typePurpose
Loan amount
Interest rates & service fee6
Establishment
fee
Unsecured Personal Overdraft3Ongoing, revolving line of credit to be used for:
  • Personal purposes5
  • Domestic or household expenditure
  • Personal investment
$250 to $25,000
12.64% pa6
(variable interest rate)

$6/month
Nil
Temporary Personal Overdraft3Short term credit for unforeseen opportunities or expenses
$250-$499
$500-$999
$1,000-$9,999
$10,000-$49,999
$50,000 and over
14.64% pa6
(variable interest rate)


no other fees4
$12
$25
$50
$100
$150

1.There are no required monthly repayments provided your overdraft is kept within the approved limit
 2.Fees and charges apply including the monthly service fee and transaction fees that apply to your everyday transaction account. Full terms and conditions available on request. These may be varied or new terms and conditions introduced in the future. Any application will be subject to the Bank's normal lending criteria.
3.Unsecured and Temporary Personal Overdrafts are only available on Westpac Choice, Westpac Choice eAccount and Classic Plus (personal) accounts and are subject to normal lending criteria.
4.Subject to full repayment being made at agreed term, and overdraft being maintained within agreed limit.
5.Overdrafts are not to be used for refinancing of debt, funding any difference between the customer's borrowing requirements and what Westpac is prepared to lend under its secured lending policies or any type of business purpose.
6.Variable rate as at 10 November 2008.



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