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.
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 What I dislike is how clunky the online banking and mobile app feel, a bit outdated.
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.
We refinanced with Bank Sa and saved heaps of money with their help. Very helpful and thorough staff.
I have only recently started using BankSA for my home loans. The customer service I have received every time I have been to a branch, called etc. has been excellent. The team in Murray Bridge South Australia especially have made all my banking needs easy. One thing that can be improved would be the app. I use other banking apps as well as BankSA and I find the other apps to be more user friendly.
I refinanced my loan with Bank SA and received a $4000 rebate. Online banking is easy and I have an offset account. For a single fee each year I get the top of the line credit card included.
Excellent service and competitive rates.
It still has some of the old school feel. Can talk to someone directly if needed. Negotiate interest rates.
I got my homeloan through a broker but we went with BankSA. Everything was smooth sailing and went through as planned on settlement day. I was impressed when the manager of the Rundle Mall branch called to ask if I was ok during the pandemic and did I need any assistance. I thought this was great customer service.
Pretty 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.
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!
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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.
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