Westpac

Westpac is part of the Westpac Group of companies and services 13 million customers around Australia.

The Westpac Group covers the whole spectrum of financial products from personal banking to corporate banking to insurance to investments.

A rich history of 200 years in shaping Australia's financial landscape

With a rich history spanning over 200 years, Westpac has played a pivotal role in Australia's financial landscape. Originally established as the Bank of New South Wales in 1817 under the visionary leadership of Governor Lachlan Macquarie, the bank has weathered wars, economic downturns, and societal changes, emerging as a resilient institution committed to stability and growth.

Throughout its journey, Westpac has embraced innovation and inclusivity. It facilitated the entry of women into traditionally male-dominated roles during the Great Depression, and it was the first bank in Australia to introduce the revolutionary accounting computer. This commitment to progress has enabled Westpac to adapt and thrive in a dynamic environment.

Australia's oldest bank and largest company creating better futures together

Today, as Australia's oldest bank and largest company, Westpac remains dedicated to creating better futures together. With a comprehensive range of financial products and services, it serves over 12.7 million customers through its portfolio of brands, including Westpac, St.George, Bank of Melbourne, BankSA, BT, and RAMS. Guided by a sustainable approach, Westpac is recognized as one of the world's most sustainable banks, actively contributing to positive social, economic, and environmental impact.

As Westpac continues to evolve, its strategic priorities of customer care, ease of banking, expertise, and advocacy underscore its commitment to delivering superior experiences and driving positive change for its customers, communities, and the nation.

So you know that you have experts caring for your financial needs when you take out a Westpac debt consolidation loan. 

Clients are important

Westpac like to focus on personal service for their clients. The emphasis is on ensuring clients are happy and have everything they need at their fingertips with help from the relevant department.

For example, with debt consolidation loans, you need a sympathetic ear. No one likes to have debt taking over their life and not know where to turn. But if this sounds like you then you need to give them a call.

Help for clients

A big banking business like Westpac is involved in lots of diverse initiatives to help and assist its clients in times of hardship and suffering. If there has been a recent disaster, they have measures to put into place to alleviate your financial stress.

Westpac's debt consolidation loan is unsecured, eliminating the need for you to offer collateral, such as a car or property, to secure the loan.

The Wespac debt consolidation loans offer you the opportunity to streamline your finances effectively. You can borrow amounts ranging from $4,000 to $50,000 over a term of up to 7 years.

An overview of Westpac's debt consolidation loan

Debt consolidation involves refinancing existing debts, such as personal loans, credit cards, or store cards, into a single loan with Westpac. By opting for Westpac's debt consolidation loan, you can enjoy many tangible benefits.

Benefits: 

1. Consolidating multiple debts into one loan simplifies financial management, reducing the hassle of dealing with numerous repayments. This means fewer monthly payments and less overall juggling.
2. Westpac's debt consolidation loan offers a single set of fees and an attractive interest rate, which could be as low as 6.99% per annum. This has the potential to significantly reduce the amount borrowers need to repay, resulting in smaller weekly, fortnightly, or monthly repayments.
3. Borrowers benefit from a structured repayment plan with a defined loan end date. This is particularly advantageous when consolidating debts with no predetermined repayment schedule or end date, such as credit cards or overdrafts.
4. Westpac's loan comes with a fixed interest rate, ensuring borrowers know the exact repayment amount right from the start. The interest rate for the loan can range from 6.99% to 19.99% per annum.
5. Unlike credit card balance transfers, Westpac's personal loan allows borrowers to consolidate a broad range of debts from various credit providers, providing them with greater flexibility in managing their financial obligations.

Westpac offers two kinds of debt consolidation loans depending on your individual needs. If you have more than one debt to pay off every month it can be very frustrating. This is the time to consider a debt consolidation loan – by putting all your debts into one account and then paying off one account every month.

Usually the interest rate is lower and the repayment amount is more manageable. This can be used for all kinds of debt, whether it's store cards or credit cards. There is an unsecured personal loan, or what is called a credit card for balance transfer.

Debt consolidation options at Westpac

• Credit Card Balance Transfer: means you transfer the money into another credit card account attracting 0% interest for a certain period of time which is discussed and set when you take the loan out;
• Unsecured Personal Loan: is a Loan which allows you to borrow money without any security. The interest rate is lower than that of a credit card.