The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $2,000,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $2,000,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $150,000 and $2,000,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan between $30,000 and $2,000,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan between $30,000 and $2,000,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a interest only loan between $30,000 and $2,000,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $30,000 and $2,000,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan between $30,000 and $2,000,000 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 95% | $150,000 | $2,000,000 |
| | Owner Occupier | Interest Only | < 80% | $150,000 | $2,000,000 |
| | Investor | Principal & Interest | < 90% | $150,000 | $2,000,000 |
| | Investor | Interest Only | < 80% | $30,000 | $2,000,000 |
| | Owner Occupier | Principal & Interest | < 95% | $30,000 | $2,000,000 |
| | Owner Occupier | Interest Only | < 80% | $30,000 | $2,000,000 |
| | Investor | Principal & Interest | < 90% | $30,000 | $2,000,000 |
| | Investor | Interest Only | < 80% | $30,000 | $2,000,000 |
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $150,000 $2,000,000
Owner Occupier (Interest Only)
LVR < 80%
Loan: $150,000 $2,000,000
Investor (Principal & Interest)
LVR < 90%
Loan: $150,000 $2,000,000
Investor (Interest Only)
LVR < 80%
Loan: $30,000 $2,000,000
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $30,000 $2,000,000
Owner Occupier (Interest Only)
LVR < 80%
Loan: $30,000 $2,000,000
Investor (Principal & Interest)
LVR < 90%
Loan: $30,000 $2,000,000
Investor (Interest Only)
LVR < 80%
Loan: $30,000 $2,000,000
If you are looking for a basic home loan without any bells and whistles the BankSA Basic Home Loan is a worthy contender. Not only will you be free of the bite of monthly service fees and upfront fees (apart from a $100 settlement fee), BankSA also offers a low rate of just 2.54% (2.56% comparison rate)* for an owner occupier and 2.99% (3.01% comparison rate)* for an investor.
It could even be a great choice for first time buyers, as it was named a 2020 Mozo Experts Choice Award winner in the Best First Home Buyer Loan category.
The BankSA Basic Home Loan has a 2.54% variable interest rate (2.56% comparison rate)* for owner occupier loans. You can enjoy a fee free home loan as there are no loan establishment fee (loans over $150,000) and no monthly service fees. You can borrow up to 95% loan to value ratio but for all loans over 80% LVR you'll need to pay Lenders Mortgage Insurance.
The loan comes with flexibility to time your repayments to suit you with weekly, fortnightly or monthly repayment options. You can make extra repayments and there is a free redraw facility which could come in handy down the track if you want to upgrade the bathroom or kitchen.
Should you need a break from work for legitimate reasons like maternity leave, there is a repayment pause feature where you can reduce or pause your repayments between 3 - 6 months.
Make your life easy and set up automatic repayments from your nominated bank account.
Anyone who's looking for a basic home loan, whether you're a first time investor or buying your first home.
This home loan has just the basics and doesn't come with an offset account which can help you to save on interest. But as there isn't a minimum redraw limit you can make extra repayments to reduce your interest and redraw them when (if) you need later down the track.
2.54% p.a.
n/a
n/a
n/a
2.56% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$150,000
$2,000,000
none
95.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
Receive $2,000 cashback per property when you refinance a property with a minimum loan size of $250,000 (excludes refinances from Westpac Group). Loans with an LVR <80% can receive an additional $2,000 cash back.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
3.14% p.a.
n/a
n/a
n/a
3.16% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$150,000
$2,000,000
none
80.00%
Owner Occupier
Interest Only
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
Receive $2,000 cashback per property when you refinance a property with a minimum loan size of $250,000 (excludes refinances from Westpac Group). Loans with an LVR <80% can receive an additional $2,000 cash back.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
2.99% p.a.
n/a
n/a
n/a
3.01% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$150,000
$2,000,000
none
90.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
Receive $2,000 cashback per property when you refinance a property with a minimum loan size of $250,000 (excludes refinances from Westpac Group). Loans with an LVR <80% can receive an additional $2,000 cash back.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
3.19% p.a.
n/a
n/a
n/a
3.21% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$30,000
$2,000,000
none
80.00%
Investor
Interest Only
Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
3.97% p.a.
n/a
n/a
n/a
4.02% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$30,000
$2,000,000
none
95.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
Receive $2,000 cashback per property when you refinance a property with a minimum loan size of $250,000 (excludes refinances from Westpac Group). Loans with an LVR <80% can receive an additional $2,000 cash back.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
3.14% p.a.
n/a
n/a
n/a
3.19% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$30,000
$2,000,000
none
80.00%
Owner Occupier
Interest Only
Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
4.54% p.a.
n/a
n/a
n/a
4.59% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$30,000
$2,000,000
none
90.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
Receive $2,000 cashback per property when you refinance a property with a minimum loan size of $250,000 (excludes refinances from Westpac Group). Loans with an LVR <80% can receive an additional $2,000 cash back.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
4.83% p.a.
n/a
n/a
n/a
4.88% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$100.00
n/a
$0.00
$350.00
$30,000
$2,000,000
none
80.00%
Investor
Interest Only
Monthly
yes - free
yes
yes - free
$0.00
yes
no
none
none
Receive $2,000 cashback per property when you refinance a property with a minimum loan size of $250,000 (excludes refinances from Westpac Group). Loans with an LVR <80% can receive an additional $2,000 cash back.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Pretty good. Staff at our local branch helpful. Loan was application easy.
Read full reviewPretty good. Staff at our local branch helpful. Loan was application easy.
The features for the Basic Home Loan suit my own needs, particularly redraw options, however their interest rates could certainly be more competitive.
Read full reviewThe features for the Basic Home Loan suit my own needs, particularly redraw options, however their interest rates could certainly be more competitive.
This is one of the worst banks for loyal existing customers. I have been with BankSA for my home loan for more than 4 years now. My loan interest rate was gradually increased without notifying me. Now I see they have reduced interest for new customer with a big difference to my loan. I spoke to the bank and they say we have the same product for new customer at lower rates but not for existing customers. What a bad bank!
Read full reviewThis is one of the worst banks for loyal existing customers. I have been with BankSA for my home loan for more than 4 years now. My loan interest rate was gradually increased without notifying me. Now I see they have reduced interest for new customer with a big difference to my loan. I spoke to the bank and they say we have the same product for new customer at lower rates but not for existing customers. What a bad bank!
They always put you first.
Read full reviewThey always put you first.
Once you have it set up, it starts instantly. Pay your monthly payments and add money when you can.
Read full reviewOnce you have it set up, it starts instantly. Pay your monthly payments and add money when you can.
BankSA is the largest financial institution in South Australia, and boasts the largest network of branches and ATMs in the state. BankSA aims to help South Australians get the best from their money, and offers a wide range of bank accounts, home loans, personal loans, credit cards and other financial services.
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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
