If you want to protect yourself against rising interest rates, BankSA’s fixed home loan allows you to lock in rates for loans starting from $10,000. BankSA has a range of fixed rate loan terms including 1, 2, 3, 4 and 5 year options. With BankSA's fixed home loan, you can choose between making principal and interest and interest only repayments, and also make additional payments of up to $30,000 p.a. without any break costs. You’ll also be able to free up funds later should you need, as the loan has a redraw facility, but keep in mind you’ll have to pay a fee every time you redraw. There is a monthly service fee to consider, but you’ll also have the benefit of a partial interest offset facility.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.49% p.a. |
8.63% p.a. |
$8.00 monthly |
$700 |
||
|
6.39% p.a. |
8.53% p.a. |
$8.00 monthly |
$700 |
||
|
6.19% p.a. |
8.14% p.a. |
$8.00 monthly |
$700 |
||
|
6.49% p.a. |
8.43% p.a. |
$8.00 monthly |
$700 |
||
|
6.09% p.a. |
8.05% p.a. |
$8.00 monthly |
$700 |
||
|
6.49% p.a. |
8.81% p.a. |
$8.00 monthly |
$700 |
||
|
6.39% p.a. |
8.71% p.a. |
$8.00 monthly |
$700 |
||
|
6.39% p.a. |
8.58% p.a. |
$8.00 monthly |
$700 |
||
|
6.69% p.a. |
8.87% p.a. |
$8.00 monthly |
$700 |
||
|
6.29% p.a. |
8.49% p.a. |
$8.00 monthly |
$700 |
For borrowers looking for more flexible features, you may be interested in one of BankSA’s variable home loans. There is a basic home loan available from a minimum loan amount of $30,000, and a full-featured standard loan available for amounts from $10,000. The loans have a maximum loan-to-value ratio (LVR) of 95% and are available for loan terms up to 30 years. With BankSA variable loans you’ll be able to choose from a range of flexible features such as the ability to make additional repayments, access a redraw facility and take a repayment holiday. If you opt for the Standard variable loan option, you’ll be charged a monthly administration fee in exchange for a 100% offset account that can help reduce the interest you pay over the life of the loan.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
7.39% p.a. |
7.40% p.a. |
$0.00 |
$100 |
||
|
7.29% p.a. |
7.30% p.a. |
$0.00 |
$100 |
||
|
6.39% p.a. |
6.40% p.a. |
$0.00 |
$100 |
||
|
6.69% p.a. |
6.70% p.a. |
$0.00 |
$100 |
||
|
6.29% p.a. |
6.30% p.a. |
$0.00 |
$100 |
||
|
9.39% p.a. |
9.53% p.a. |
$8.00 monthly |
$700 |
||
|
9.29% p.a. |
9.43% p.a. |
$8.00 monthly |
$700 |
||
|
8.80% p.a. |
8.94% p.a. |
$8.00 monthly |
$700 |
||
|
9.10% p.a. |
9.24% p.a. |
$8.00 monthly |
$700 |
||
|
8.70% p.a. |
8.84% p.a. |
$8.00 monthly |
$700 |
||
|
6.99% p.a. |
7.00% p.a. |
$0.00 |
$100 |
||
|
7.29% p.a. |
7.30% p.a. |
$0.00 |
$100 |
||
|
6.89% p.a. |
6.90% p.a. |
$0.00 |
$100 |
||
|
6.64% p.a. |
6.65% p.a. |
$0.00 |
$100 |
||
|
6.94% p.a. |
6.95% p.a. |
$0.00 |
$100 |
||
|
6.54% p.a. |
6.55% p.a. |
$0.00 |
$100 |
||
|
9.66% p.a. |
9.80% p.a. |
$8.00 monthly |
$700 |
||
|
9.96% p.a. |
10.10% p.a. |
$8.00 monthly |
$700 |
||
|
9.56% p.a. |
9.70% p.a. |
$8.00 monthly |
$700 |
||
|
9.37% p.a. |
9.51% p.a. |
$8.00 monthly |
$700 |
||
|
9.67% p.a. |
9.81% p.a. |
$8.00 monthly |
$700 |
||
|
9.27% p.a. |
9.41% p.a. |
$8.00 monthly |
$700 |
If you’re borrowing more than $150,000 and love the convenience of having all your important accounts in one spot, the Advantage Package from BankSA could be the right home loan for you. While there is an annual package fee to consider, you can potentially save thousands over the term of your loan through a discounted interest rate and bank fees waived on your home loan, credit card and day to day transaction account. You can even save on your insurance and there are plenty of options to pay off your home loan as quick as possible, such as up to $30,000 p.a. in free extra repayments.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.34% p.a. |
7.90% p.a. |
$395.00 yearly |
$100 |
||
|
6.24% p.a. |
7.80% p.a. |
$395.00 yearly |
$100 |
||
|
6.04% p.a. |
7.41% p.a. |
$395.00 yearly |
$100 |
||
|
6.34% p.a. |
7.70% p.a. |
$395.00 yearly |
$100 |
||
|
5.94% p.a. |
7.31% p.a. |
$395.00 yearly |
$100 |
||
|
6.34% p.a. |
7.98% p.a. |
$395.00 yearly |
$100 |
||
|
6.64% p.a. |
8.27% p.a. |
$395.00 yearly |
$100 |
||
|
6.24% p.a. |
7.88% p.a. |
$395.00 yearly |
$100 |
||
|
6.24% p.a. |
7.75% p.a. |
$395.00 yearly |
$100 |
||
|
6.54% p.a. |
8.05% p.a. |
$395.00 yearly |
$100 |
||
|
6.14% p.a. |
7.66% p.a. |
$395.00 yearly |
$100 |
If you’re looking for even more flexibility with your home loan, take a look at BankSA’s variable rate Advantage Package option. For an annual fee, you'll get all the same money-saving benefits as the fixed rate alternative, including waived fees across a range of financial products, a redraw facility and repayment holidays, plus even more perks like unlimited free additional repayments and a 100% offset account. BankSA's variable package loan lets you choose between weekly, fortnightly or monthly payments, which you can then pay via direct debit for added convenience, and you'll also have the option to split your home loan between fixed and variable rates.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
8.08% p.a. |
8.42% p.a. |
$395.00 yearly |
$100 |
||
|
7.98% p.a. |
8.32% p.a. |
$395.00 yearly |
$100 |
||
|
7.49% p.a. |
7.84% p.a. |
$395.00 yearly |
$100 |
||
|
7.79% p.a. |
8.13% p.a. |
$395.00 yearly |
$100 |
||
|
7.39% p.a. |
7.74% p.a. |
$395.00 yearly |
$100 |
||
|
8.35% p.a. |
8.69% p.a. |
$395.00 yearly |
$100 |
||
|
8.65% p.a. |
8.98% p.a. |
$395.00 yearly |
$100 |
||
|
8.25% p.a. |
8.59% p.a. |
$395.00 yearly |
$100 |
||
|
8.06% p.a. |
8.40% p.a. |
$395.00 yearly |
$100 |
||
|
8.36% p.a. |
8.70% p.a. |
$395.00 yearly |
$100 |
||
|
7.96% p.a. |
8.30% p.a. |
$395.00 yearly |
$100 |
BankSA’s Standard variable and package home loans offers a full interest offset facility which reduces the amount of interest you’ll be charged on your home loan. A partial interest offset facility is available with the Fixed Rate home loan.
You’ll never be late on a payment again when you set up automatic repayments from your nominated BankSA bank account.
With a BankSA home loan you have the ability to make fee-free additional repayments so you can pay your loan off sooner and reduce your interest costs over the term of your loan. For BankSA’s fixed rate loan, you can make up to $30,000 p.a. in additional repayments without penalty.
BankSA’s variable, fixed and line of credit loan allow you to apply for a deposit protect bond which is a convenient option when your deposit money isn’t readily available (i.e. tied up in your current home). It is a guarantee that you’ll pay the deposit money at settlement instead of upfront and is often valid for 6 months.
If you're a first home buyer, this handy feature allows family members to use their own home’s equity to provide security for a portion of your loan amount so you can avoid Lender’s Mortgage Insurance (required of loans with an LVR that exceeds 80%).
Mozo users have rated BankSA home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Competitive interest rates and easy to deal with
Read full reviewCompetitive interest rates and easy to deal with
Remember to follow the bank up biannual to ensure you have the best rate
Read full reviewRemember to follow the bank up biannual to ensure you have the best rate
Pros of using BankSA: 1. Established Reputation: BankSA is a well-established bank in Australia, providing a sense of stability and reliability. 2. Wide Range of Services: The bank offers a variety of financial services, including savings accounts, loans, credit cards, and more. 3. Accessibility: BankSA has a network of branches and ATMs, making it convenient for customers to access their accounts.
Read full reviewPros of using BankSA: 1. Established Reputation: BankSA is a well-established bank in Australia, providing a sense of stability and reliability. 2. Wide Range of Services: The bank offers a variety of financial services, including savings accounts, loans, credit cards, and more. 3. Accessibility: BankSA has a network of branches and ATMs, making it convenient for customers to access their accounts.
I am overall happy with BankSA. I like the fact I can still visit a physical branch to ask questions. My only disappointment, of which I discovered the other day, was the removal of my telephone, dedicated Customer Service Officer. Now I have to telephone a call centre and it caused a few problems as the person did not seem to understand what I wanted. So I called back again and was finally able to reach someone who did know what to do. Then they kept in contact with me via email until my issue was sorted out. Online banking is good and easy to manage, so this is a positive.
Read full reviewI am overall happy with BankSA. I like the fact I can still visit a physical branch to ask questions. My only disappointment, of which I discovered the other day, was the removal of my telephone, dedicated Customer Service Officer. Now I have to telephone a call centre and it caused a few problems as the person did not seem to understand what I wanted. So I called back again and was finally able to reach someone who did know what to do. Then they kept in contact with me via email until my issue was sorted out. Online banking is good and easy to manage, so this is a positive.
Pros - Good rates Cons - Could be better service
Read full reviewPros - Good rates Cons - Could be better service
If you are over 18 years old intending to buy a property in Australia or refinancing an existing loan from another financial institution, you can complete BankSA’s online home loan application form which should take under 15 minutes. You may need the following information: