BankSA Basic Home Loan

4.08% p.a.

4.09% p.a.

$0.00

4.12% p.a.

4.13% p.a.

$0.00

4.29% p.a.

4.30% p.a.

$0.00

4.33% p.a.

4.34% p.a.

$0.00

4.71% p.a.

4.76% p.a.

$0.00

4.75% p.a.

4.80% p.a.

$0.00

4.96% p.a.

5.01% p.a.

$0.00

5.00% p.a.

5.05% p.a.

$0.00

BankSA Basic Home Loan Review

Rates and fees information correct as at 10 December 2016.

Review published: 11 June 2015

What's hot:

  • Low rates starting from 4.08%

  • $0 ongoing service fees

What's not:

  • No offset account

Mozo snapshot:

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 4.08% for an owner occupier and 4.29% for an investor. 

Key features:

The BankSA Basic Home Loan has a 4.08% variable (4.09% comparison) interest 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.


Who it's good for:

Anyone who's looking for a basic home loan, whether you're a first time investor or buying your first home. 

Any catches?

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. 

How are BankSA home loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.2

Based on 70
BankSA home loans reviews

7.0 6.8 7.5 7.9 7.4

Read BankSA home loan reviews by the Mozo community

Latest reviews of BankSA Basic Home Loan

BankSA

BankSA Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   8 / 10

Good quality loan and service.

They had the cheapest option when we were looking for a home loan, best rates and minimal fees for everything including withdrawals etc.

Full review

They had the cheapest option when we were looking for a home loan, best rates and minimal fees for everything including withdrawals etc.

    Price   7 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Sarah (SA), reviewed about 1 year ago

BankSA

BankSA Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   8 / 10

Friendly, helpful staff

Friendly, helpful staff.

Full review

Friendly, helpful staff.

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Cheryl (SA), reviewed over 1 year ago

BankSA

BankSA Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   10 / 10

Great Customer Service

They have always been helpful and very understanding when my health was not good and had to be out of work for 8 months and during that time was in hospital for 8 weeks. I could not complain about their service it was exceptional.

Full review

They have always been helpful and very understanding when my health was not good and had to be out of work for 8 months and during that time was in hospital for 8 weeks. I could not complain about their service it was exceptional.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Wendy (SA), reviewed over 1 year ago

BankSA

BankSA Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   9 / 10

Very good

Bank SA is the best bank. For customer service, products, and rates.

Full review

Bank SA is the best bank. For customer service, products, and rates.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   7 / 10

Less

Paul (SA), reviewed over 1 year ago

BankSA

BankSA Basic Home Loan Special Offer (Owner Occupier, Principal & Interest) home loan review

Overall rating   9 / 10

Great for product for my needs

I have looked else where, but keep coming back, I pay no fees with great, fast & personal service. Why would I go elsewhere??

Full review

I have looked else where, but keep coming back, I pay no fees with great, fast & personal service. Why would I go elsewhere??

    Price   7 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Nicole (SA), reviewed almost 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Currently showing

Rates

  • 4.08% p.a.

  • n/a

  • 0 Months

  • none

  • 4.09% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $150,000

  • none

  • none

  • 95.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

Rates

  • 4.12% p.a.

  • n/a

  • 0 Months

  • none

  • 4.13% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $150,000

  • none

  • none

  • 95.00%

Features

  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

Rates

  • 4.29% p.a.

  • n/a

  • 0 Months

  • none

  • 4.30% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $150,000

  • none

  • none

  • 95.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

Rates

  • 4.33% p.a.

  • n/a

  • 0 Months

  • none

  • 4.34% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $150,000

  • none

  • none

  • 95.00%

Features

  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

Rates

  • 4.71% p.a.

  • n/a

  • 0 Months

  • none

  • 4.76% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $30,000

  • none

  • none

  • 95.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

Rates

  • 4.75% p.a.

  • n/a

  • 0 Months

  • none

  • 4.80% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $30,000

  • none

  • none

  • 95.00%

Features

  • Owner Occupier

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

Rates

  • 4.96% p.a.

  • n/a

  • 0 Months

  • none

  • 5.01% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $30,000

  • none

  • none

  • 95.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

Rates

  • 5.00% p.a.

  • n/a

  • 0 Months

  • none

  • 5.05% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $100.00

  • none

  • $0.00

  • $350.00

Other financial bits

  • $30,000

  • none

  • none

  • 95.00%

Features

  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • $500 Establishment fee waived for a limited time.

About BankSA

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.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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