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 could be a worthy contender. The loan comes with competitive variable rates starting from just 2.49% (2.51% comparison rate)* for owner occupiers, plus there are no ongoing service fees to worry about. With low deposit requirements it could even be a great choice for first time buyers, plus it was even named a 2021 Mozo Experts Choice Award winner in the First Home Buyer Loan category.
The BankSA Basic Home Loan has a number of variable rate options starting from 2.49% (2.51% comparison rate)* for owner occupiers and 2.79% (2.81% comparison rate)* for investors. Rates will depend on your loan size and the type of repayments you want to make (principal and interest or interest-only), and there are options to borrow up to 95% of the property's value (Lenders Mortgage Insurance may be required for loans with an loan-to-value ratio over 80% though).
The loan comes with flexibility to make your repayments on a schedule that suits you, with weekly, fortnightly or monthly repayment options available. You'll also be able to make extra repayments towards your loan, as well as redraws, for no extra cost. 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.
Aside from some competitive rates, the other benefit of the loan is the relative lack of fees. There are no upfront fees other than a $100 settlement fee on loan amounts over $150,000, and there are no ongoing monthly services fees at all.
The Basic Home Loan could be a choice to consider for anyone who's looking for a low cost home loan, whether you're an investor or you're buying your first home.
As the name suggests, this isn't a loan which comes with anything other than the bear basics, which means there's no offset account available.
2.49% p.a.
n/a
n/a
n/a
2.49% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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
3.14% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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.
2.79% p.a.
n/a
n/a
n/a
2.79% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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.
2.99% p.a.
n/a
n/a
n/a
2.99% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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
4.00% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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
3.17% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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
4.57% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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
4.86% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$500.00
$0.00
$0.00
$0.00
n/a
$0.00
$0.00
$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.
I have been a Bank SA customer for 51 years. My wife and I are on Disability Pensions, we own everything and owe nothing, but can't get a loan! We even own our own land and a small cottage that we just wanted to upgrade. Bank S.A would not lend us $30,000 through a equity loan and would only lend us $2,000 as a personal loan when we have more money than that in the bank. We are absolutely disgusted in their service, they said a loans officer would ring us on Monday after 11am, they tried to call the Friday before and of course I was unavailable. Then when they did call on Monday it was not a loans officer, it was just someone after more information, that we already told them on the Thursday prior at our local branch over a computer conference. At that first appointment they told us we could probably get a home loan for $30,000 and that a loans officer would call on Monday to confirm details and let us know what we could borrow and what the interest rates were. Well the person that called did not know anything, so the person we spoke to on the computer had not relayed any information to the second person. That is terrible communication. They shut us down anyway, saying that they can only lend up to 95% of the current house and land value which was $27,500. But they don't take into account that we OWN it, we don't have to repay anything. Plus I have $20,000 of super that they don't consider as collateral. Offering us a $2,000 personal loan was an insult, when I have $1,500 in cash and $5,000 in the bank plus 2 cars and a caravan. All in all I have a fantastic credit rating and my wife and I are angry and upset over the way we were just shot down as if we were TRASH. Bank S.A you haven't heard the last of this. Expect an official letter of complaint and also contact with our local MP.
Read full reviewI have been a Bank SA customer for 51 years. My wife and I are on Disability Pensions, we own everything and owe nothing, but can't get a loan! We even own our own land and a small cottage that we just wanted to upgrade. Bank S.A would not lend us $30,000 through a equity loan and would only lend us $2,000 as a personal loan when we have more money than that in the bank. We are absolutely disgusted in their service, they said a loans officer would ring us on Monday after 11am, they tried to call the Friday before and of course I was unavailable. Then when they did call on Monday it was not a loans officer, it was just someone after more information, that we already told them on the Thursday prior at our local branch over a computer conference. At that first appointment they told us we could probably get a home loan for $30,000 and that a loans officer would call on Monday to confirm details and let us know what we could borrow and what the interest rates were. Well the person that called did not know anything, so the person we spoke to on the computer had not relayed any information to the second person. That is terrible communication. They shut us down anyway, saying that they can only lend up to 95% of the current house and land value which was $27,500. But they don't take into account that we OWN it, we don't have to repay anything. Plus I have $20,000 of super that they don't consider as collateral. Offering us a $2,000 personal loan was an insult, when I have $1,500 in cash and $5,000 in the bank plus 2 cars and a caravan. All in all I have a fantastic credit rating and my wife and I are angry and upset over the way we were just shot down as if we were TRASH. Bank S.A you haven't heard the last of this. Expect an official letter of complaint and also contact with our local MP.
I love my bank for the competitive rates and offers they provide as well as the amazing staff that are always happy to help with the right knowledge. What I dislike is how clunky the online banking and mobile app feel, a bit outdated.
Read full reviewI love my bank for the competitive rates and offers they provide as well as the amazing staff that are always happy to help with the right knowledge. What I dislike is how clunky the online banking and mobile app feel, a bit outdated.
I don't feel that the bank is there for me. I feel there is a huge lack of communication, wouldn't really refer them.
Read full reviewI don't feel that the bank is there for me. I feel there is a huge lack of communication, wouldn't really refer them.
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.
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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n/a
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3.03% p.a.
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$0.00
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1.79% p.a.
1.84% p.a.
$0.00
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.
