BankSA Home Loans
“Let’s do this.” (BankSA)
BankSA Home Loan Rates & Options:
Here’s a snapshot of BankSA’s home loans, rates & options currently on offer for a purchase value of $600,000 in NSW. Please note that this table is formulated based on paying both principal and interest whilst being sorted by comparison rate (lowest to highest). To compare other home loans, please click here.
Loan Options: What BankSA home loans offer
The inclusions below represent a selection of the features available with a Standard Variable Rate home
loan of $350,000 for an owner-occupier. CANSTAR is not making any suggestion or recommendation to you about this product. Please see our comparison tables for more details and information about products on offer from this provider and other providers on our database.
Additional conditions may apply to different features. Please ensure that you read the product disclosure statement to determine all the current loan terms and conditions for the product you are considering.
BankSA Standard Variable Home Loan Features
- Advantage Package available – includes discounted rates and fees on home loan, credit card, and transaction account.
- Offset account available.
- Redraw facility available.
- Split loan facility available; maximum 4 splits allowed; split loan application fee may apply.
- Mortgage is portable.
- Repayments may be made weekly, fortnightly, or monthly.
- Additional repayments allowed.
- Lump sum repayments allowed.
- Interest only option available for 5 years for owner occupiers and up to 15 years for residential investment.
- Repayment holiday allowed for 3 to 12 months (if borrowers has previously made additional repayments in advance that can be redrawn).
- Family guarantee option is available.
- Minimum loan amount $10,000 – up to unlimited maximum loan amount.
What types of home loans does BankSA offer?
At the time of writing, BankSA offers the following types of home loans:
- Variable rate home loan
- Fixed rate home loan
- Line of credit home loan
- Package home loan
- Investment home loan
Find out about how different types of home loans work here.
See our comparison tables for details of BankSA home loans:
How to apply for a BankSA home loan
You can apply for a BankSA loan either online, over the phone on 13 13 76 (open Mon-Sat), or in a branch. Follow our applying for a home loan checklist, and use the Canstar website to compare BankSA home loans with other home loans before choosing a product that suits your needs:
Can you make extra repayments on a BankSA home loan?
Yes, BankSA allows extra repayments on their home loans. However, you may attract early repayment fees if you repay your loan in the first 3 or 4 years of the loan term, and fixed rate loans may attract a break fee (a.k.a. break cost) if you repay the loan early or if extra repayments of more than $10,000 are made. Contact your lender to confirm fees and charges that may apply.
Are redraw facilities offered on BankSA home loans?
Yes, BankSA offers redraw facilities on their home loans. Borrowers must apply in order to use this facility. Fixed rate loans have a redraw limit of $10,000. Fees and charges may apply to use of a redraw facility; contact your lender for details.
What are the payment options for BankSA home loans?
BankSA lets you make home loan repayments via bank transfer, mobile banking, online banking, over the phone, or in-branch.
If you’re in the market for a home loan, compare your home loan options with CANSTAR:
BankSA opened its first branch in 1848, as The Savings Bank of South Australia. The bank began as a one-man band – John Hector opened the bank in a single room that was provided free of rent by a mining company. An Afghan shepherd named Croppo Singh was the first person to make a deposit, by entrusting his life savings of 29 pounds to the bank. One month later, the new bank made its first loan – 500 pounds to John Colton for the purchase of two acres of land with a house, cottage, and stables.
Today BankSA is the largest financial institution in South Australia, with more than 120 branches in SA and the Northern Territory. In 2008, BankSA, and St.George became part of the Westpac Group (bank of Melbourne is also part of the Westpac Group).
BankSA plays a key role in the community as a sponsor of major State events such as the Adelaide Fringe festival and Adelaide’s Royal Show. Through the BankSA Foundation, the bank makes donations to approximately 100 South Australian and Northern Territory-based charities each year.
Some of BankSA’s notable community support initiatives include:
- Appeals and Disaster Relief – e.g. Daffodil Day, SIDS Red Nose Day, Eyre Peninsula bushfires.
- Enabling community events – e.g. partnering with Adelaide Fringe Festival since 2005.
- The BankSA Marquee – available for use by community organisations and fundraising events throughout South Australia.
- Volunteering – one day of paid leave per year for staff to volunteer for the cause they care about.
As for protecting the environment, BankSA has reduced the paper they use and only uses paper from sustainably managed forests and industry-accredited mills. They have introduced energy saving fixtures in their lights, and installed timer delay switches to make sure all branches turn off non-essential lights every night. BankSA also participates in Earth Hour every year. As for computers, BankSA partners with Cartridges 4 PlanetArk to recycle ink cartridges and toners.
BankSA Home Loans
2016 Home Loans Star Rating - First Buyer, Investment and Established
Advantage Package Residential Fixed 5 yrs 150k+, Advantage Package Investment Fixed 3 yrs 150k+View the 2017 Home Loans Star Ratings Report