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BankSA Advantage Package Fixed Home Loan

Richard Whitten
Richard Whitten
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The BankSA Advantage Package Fixed Home Loan allows you to combine your home loan, credit card and transaction account into one package.

This home loan provides flexible repayment options where you can choose the home loan, credit card and transaction account most suitable for your situation. It has fixed rates with options for home buyers and investors. You can choose between principal and interest or interest only repayments.

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Expert review

Richard Whitten

Review by

Richard Whitten is a senior writer at Finder covering home loans and property. He helps everyone understand the ins and outs of mortgages so they can make smarter property decisions. He has written for Yahoo Finance, Money Magazine, Homely, and for multiple banks and lenders. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea. Richard has a Bachelor of Education, a Graduate Certificate in Communication and is currently studying a Certificate IV in Finance and Mortgage Broking.

Expert review

The Advantage Package Fixed Home Loan from BankSA is suitable for first home buyers, investors and refinancers. To create your own Advantage Package you’ll need to pick a home loan, credit card and transaction account from BankSA.

About this loan

What are the features and benefits of the BankSA Advantage Package?

  • All-in-one package. Having all your financial products combined with the one bank means you can access them all at once and can help you better manage your finances.
  • Partial offset account. You can reduce interest payments on your home loan with the partial interest-offset feature linked to your BankSA transaction account.
  • Flexible repayments. Repayments are flexible. You can choose to make them weekly, fortnightly, or monthly.
  • Redraw facility available. Another feature of the package is that you can redraw excess payments made previously on your loan.

What fees and charges come with this loan?

The BankSA Advantage Package Fixed Home Loan has few fees apart from the settlement, discharge and annual package fee.

  • Settlement fee: $100. BankSA charges this fee to cover the initial set-up of a home loan.
  • Annual package fee: $395. You can pay the annual package fee from a BankSA transaction account (which is part of the package).
  • Discharge fee: $350. You pay a discharge fee when you end the home loan, either by repaying it or by refinancing to another lender.

How to apply

To apply for this product or to get more information, click the green "Go to site" button and leave your details on the BankSA's website. A BankSA lending specialist will get in touch with you to help you start the application process and answer all your questions.

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2 Comments

    Default Gravatar
    Jack
    December 24, 2014

    I have a Bank SA Complete Freedom Offset account and am using it with a loan mortgage.

    What happens if there is more money in the offset account than is owed on the mortgage.

    This will happen due to a deposit which will only be in the account for a short time. say 3-10 days.

    Reply
      Avatarfinder Customer Care
      Shirley
      December 29, 2014

      Hi Jack,

      Thanks for your question.

      Generally if the offset account balance is more than the home loan balance then no interest will be charged to the home loan.

      However, it’s best to get in touch with BankSA to confirm this is the case.

      Cheers,
      Shirley

      Reply
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