Our Secured Loan is great for purchasing new or used vehicles. You can also choose to secure your loan against your car for other purposes including home improvements, debt consolidation or travel expenses. Bankwest is progressively closing its branches and expects all branches to be closed by the end of 2024. After the closure of branches, customers will no longer be able to access services which were available at branches. You can find the latest information, including proposed branch closure dates, your nearest face-to-face banking options as well as Frequently Asked Questions by visiting bankwest.com.au and searching for 'branch info'.
Category: Personal Loans Last Updated October 14, 2024 Effective November 1, 2024
General Lending Rates
Rates listed below are for a FIXED product. Additional Information
Interest Rate 8.99% PA
Comparison Rate 9.33%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Features
OtherAdditional Information: Additional borrowings - borrow up to 120% of value of your security.
Npp EnabledAdditional Information: This means you can receive faster payments into this account, often in real time. Keep in mind - this account isn't eligible for PayID.
Digital BankingAdditional Information: You can do your everyday banking through Bankwest Online Banking and the Bankwest App from anywhere, 24/7 - it's easy and secure.
Extra RepaymentsAdditional Information: Make extra payments - pay more than your minimum repayments as and when you choose.
NotificationsAdditional Information: Remember when a repayment is due. Get an alert before your minimum monthly repayment is due.
OtherAdditional Information: Great fixed rate - have peace of mind knowing exactly what your repayments will be.
RedrawAdditional Information: Access surplus funds 24/7 - redraw online and on the go with the Bankwest App.
OtherAdditional Information: Repayment options that suit you. Choose the loan term - from three to seven years - and repayment frequency.
Product Eligibility
Min Age - 18.
Min Income - 20000. Additional Information: Regular income of over $20,000 a year.
Residency StatusAdditional Information: Available to Australian citizens or permanent residents and to New Zealand citizens residing in Australia.
Natural PersonAdditional Information: The Bankwest Secured Car Loan is an account for personal customers who are over 18 years of age.
OtherAdditional Information: Applications for Personals Loans are subject to the Bank's normal credit approval.
OtherAdditional Information: As security for the loan, we accept: - Cars or motorcycles that are less than seven years old; OR - Cars or motorcycles that are valued at least $10,000.
Bank Fees and Charges
Application Fee (Upfront), Amount: 0.00. Additional Information: There is no application fee.
Loan Maintenance Fee (Periodic), Amount: 5.00. Additional Information: Payable monthly in arrears on the monthly repayment due date.
Early Repayment Fee (Exit), Amount: 250.00. Additional Information: Payable if you repay your loan within the first 24 months from the date the loan, or any part, is advanced.
Bank Cheque Fee (Event), Amount: 10.00. Additional Information: Payable when you request a bank cheque.
Conduct Search Of Pps Register (Event), Amount: 2.00.
Registration Of Financing Statement Or Amendment Of Financing Statement (Event), Amount: 6.00.
Request Information Under S275 Ppsa (Event), Amount: 30.00. Additional Information: If time spent is less than 0.5 hour; thereafter $60.00 per hour or part thereof.
Arrears Notice Fee (Event), Amount: 25.00. Additional Information: Cost is per notice and payable upon notification that your account is in arrears, during the period the loan is in default.
Default Notice Fee (Event), Amount: 50.00. Additional Information: Payable on issue of a statutory default notice, during the period the loan is in default.
Limitations & Restrictions (Constraints)
Max Limit of 100000.00 Additional Information: Maximum limit $100,000. (Up to 120% of the value of your security)
Min Limit of 10000.00 Additional Information: Minimum limit $10,000.