Manage my personal loan

Manage your loan online and on the go

You can use online banking or the Bankwest App to do things like:

  • see your loan balance, transactions and statements
  • make repayments
  • redraw your extra repayments.

Making repayments

Whether you make your repayments weekly, fortnightly or monthly, the main thing is to make sure you’re repaying at least the minimum monthly repayment amount on time (that’s the lowest amount you need to pay each month to meet the terms of your personal loan contract).

You can schedule repeating repayments in the app or online banking

In the app:

  • Tap on ‘Make a payment’ from your Home or Payments screens
  • Choose the account to pay from
  • Tap the personal loan account to pay to
  • Enter the amount you want to pay
  • Tap ‘Repeat’ and choose a frequency option to schedule your repeating payments.

In online banking:

  • Choose 'Payments' in the menu
  • Go to ‘Make a payment’
  • Choose ‘Internal transfer’
  • Select the account to pay from
  • Choose a frequency option to schedule your repeating payments.

Note that if you have automatic direct debits already set up with us to pay your Bankwest personal loan and you want to schedule manual repayments instead, you’ll need to call us on 13 17 19 to cancel your direct debit payments.

Want to pay from a non-Bankwest bank account? Check with that financial institution to see how you could set up your own repayments to your Bankwest personal loan.

Prefer to set up direct debits with us?

Give us a call on 13 17 19 or send us a completed Direct Debit Request form (PDF).


Making extra repayments

You can make repayments over and above the minimum needed as and when you choose in the app or online banking. These extra repayments build up what’s called a surplus, which helps to reduce the interest on your loan and pay it off sooner.

Just keep in mind that there’s an early repayment fee if you close the loan within the first two years. To get more of an idea of what this fee might be for you, give us a call on 13 17 19. You can also see personal loan fees on our comparison table.

Redrawing your extra payments

You can access any extra repayments you make towards your loan any time you need in the app or online banking.

Keep in mind that redrawing your extra repayments will mean those surplus funds will no longer be reducing the interest on your loan. Also make sure you’re able to make your minimum monthly repayments if you redraw all your surplus.

You can redraw your surplus funds through the app and online banking

In the app:

  • Go to ‘Accounts’ from the bottom menu
  • Select your personal loan account
  • Select ‘Make a payment’ and choose between ‘My accounts’, ‘Payees’ or ‘BPAY® biller’.

In online banking:

  • Choose ‘Payments’ in the menu
  • Go to ‘Make a payment'
  • Choose ‘Internal Transfer’ to move money from your personal loan account
  • If you want to transfer the funds to another person’s account or pay a bill, you can also make a ‘Pay AnyBody’ or ‘BPAY’ transfer to another person’s account.

If you have a personal loan that needs two people to authorise changes or payments

To redraw your extra repayments, you’ll need to either:

  • Visit a branch
  • Contact us through Bankmail in Bankwest Online Banking.

Making changes


If you’d like to pay off your personal loan sooner, give us a call or visit a branch and we’ll be happy to help. Keep in mind that an early repayment fee applies if you close the loan within the first two years.

If you’d like to borrow additional funds, you’ll need to apply for a new personal loan.

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