Westpac Personal Loan

Westpac offers personal loans with rates starting at 7.99% for EV loans and a standard rate of 13.90% p.a., suitable for borrowing between $2,000 and $50,000.

Last checked on June 11, 2026. We may earn a commission when you click through.

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✓ Competitive rate for electric vehicle loans ✓ Flexible loan amounts from $2,000 to $50,000 ✓ Good customer service reputation
Personal Westpac Reviewed

Westpac Personal Loan

Updated 3 months ago

APR

7.99–13.9%

Amount

NZ$2,000–NZ$50,000

Term

6–60 mo

Requirements

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Decision

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Rate Lock

Our Verdict

With flexible borrowing options, Westpac's personal loan is ideal for various financial needs, though the standard rate is on the higher side.

Best For

Best for those seeking lower rates for electric vehicle financing, as well as borrowers needing larger sums up to $50,000.

Watch Out

The standard rate of 13.90% p.a. may not be the best choice for those with excellent credit who could qualify for lower rates elsewhere.

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About this mortgage

Westpac offers personal loans with rates starting at 7.99% for EV loans and a standard rate of 13.90% p.a., suitable for borrowing between $2,000 and $50,000.

What Customers Say

Borrowers appreciate Westpac's customer service but often mention the high standard interest rate as a drawback.

Expert Analysis

When considering a personal loan, Westpac’s offering includes a competitive 7.99% p.a. rate specifically for electric vehicle purchases. This can significantly reduce your repayment costs compared to the standard 13.90% p.a. rate, which is relatively high for personal loans in New Zealand.

The loan amounts range from $2,000 to $50,000, making Westpac a suitable choice for a variety of financial needs, whether it’s for home improvements or consolidating debt. However, potential borrowers should be mindful of the loan term ranging from 6 to 60 months, as this limits flexibility in repayment options.

Customer service is crucial in the lending process, and Westpac generally has a solid reputation. However, the approval process can vary, and applicants may experience delays compared to other lenders like ANZ or BNZ, which are known for quicker turnaround times. Make sure to read the fine print to avoid any unexpected fees.

Overall, while Westpac provides viable options for borrowers needing larger amounts or financing for EVs, those with excellent credit scores might find better deals with other lenders offering lower standard rates.

Rates shown are representative. Your actual rate may differ based on your circumstances. We may earn a commission for referrals.

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