BankSA personal loans

What personal loans do BankSA offer?

Fixed or variable rate car loan:

Do you need a personal loan so you can dump your car in the scrap heap and replace it with a new or second-hand ride? If you’re nodding in agreement, the BankSA car loan could be for you. With the option to choose a fixed or variable version and chance to lower the rate even more by securing the car to it, this BanksSA loan is a strong contender. Many providers have minimum car loan amounts of $5,000, but if you only need $3,000 for a car, this loan could make that happen. BankSA lets you pick a loan term from one to seven years on the variable rate type, and one to five with the fixed version. Like many car loans around, you’ll need to factor in a small monthly account-keeping fee and initial signup cost on top of your loan repayments. Unique features applicable to the variable rate type loan include optional extra repayments and a redraw facility to an approved amount. While the fixed rate version of the BankSA car loan doesn’t have these features, you might prefer the slightly lower rate.

Fixed or variable rate personal loan:

Whether you’re dreaming of a holiday or marble water feature for the garden, the BankSA unsecured personal loan could help get you there. From small loan amounts of $3,000 up to $40,000, you can choose between a fixed or variable rate. Just like the BankSA car loan mentioned above, the variable rate type allows for extra repayments and has a redraw facility with a minimum amount on loan terms from one to seven years. On the other hand, the slightly lower fixed rate guarantees repayments will stay the same over the one to five year term, which could be better suited to your budget. Remember to factor in an initial sign up fee and small monthly fees if you are considering this personal loan.

BankSA personal loan features at a glance

• Repayment flexibility: Making repayments is easy with BankSA because you can nominate either weekly, fortnightly or monthly repayments.

• Extra repayments: You can pay off the balance sooner with BankSA variable rate personal loans, thanks to the extra repayments feature.
• Redraw facility: All variable rate personal loans have a redraw facility to dip into extra repayments. Keep in mind there is a minimum amount and you may be charged a small fee for each transaction.

• No break fees: Variable rate BankSA personal loans don’t have additional costs for paying off the balance before the end of the loan term.

• Personal loan insurance: BankSA is one of the few banks around with personal loan insurance. For a premium price, you can take out “personal credit protect”, which can cover you if you fall ill or lose your job. For the T’s and C’s be sure to read the fine print on the BankSA website.

How do you apply for a BankSA personal loan?

You can apply for a BankSA personal loan via the website or a South Australian branch. The bank’s friendly staff are always happy to help you along the process over the phone too, which can take only 15 minutes to get approved and have funds sent to your account.

To apply for a personal loan with BankSA you will need:

• To be at least 18 years old and an Australian resident with a permanent address.
• To have a regular income.
• To prove your identification during the application which can include your driver’s license number, passport number, medicare number and proof of address.