BankSA Advantage Package Home Loan

Rates and Fees verified correct on December 6th, 2016

The Advantage Package from BankSA allows you to combine your home loan, credit card and transaction account into one package, saving money and time through the process.

This home loan provides flexible repayment options where you can choose the home loan, credit card and transaction account most suitable for your situation. You can also save 0.97% p.a. off the standard variable rate with the Advantage package if your loan amount is $500,000 or more, but terms and conditions apply.

$1,500 rebate when you switch over to the BankSA Advantage Package

If you are looking to refinance and are an owner occupier if apply for an Advantage Package fixed or variable home loan, BankSA will give you $1,500 cashback to help you with the costs of switching.

Your loan must be over $100,000 and be refinanced from any lender except St.George, Westpac, BankSA, Bank of Melbourne and RAMS.

You can also receive discounts off your home loan interest rates, Home Loan Protection, Home and Contents Insurance and Protection Plans premium.

Things to consider about the BankSA Advantage Package

Interest Rate Max Insured LVR Max LVR
$500,000 to $749,999 (Owner Occupier, P&I)
4.59% p.a.
Comparison Rate
4.99% p.a.
90% 80%
$500k to $749k (Special Discount) (Investor, P&I)
4.69% p.a.
Comparison Rate
5.08% p.a.
90% 80%
$500k to $749k (Special Discount) (Investors, IO)
4.73% p.a.
Comparison Rate
5.12% p.a.
90% 80%
$500,000 to $749,999 (Owner Occupier, IO)
4.63% p.a.
Comparison Rate
5.02% p.a.
90% 80%
$150k to $249,999 (Special Discount) (Owner Occupier, P&I)
4.69% p.a.
Comparison Rate
5.08% p.a.
90% 80%
$250k to $499,999 (Special Discount) (Owner Occupier, IO)
4.53% p.a.
Comparison Rate
4.93% p.a.
90% 80%
$250k to $499,999 (Special Discount) (Owner Occupier, P&I)
4.49% p.a.
Comparison Rate
4.89% p.a.
90% 80%
$500,000 to $749,999 (Investor, P&I)
4.84% p.a.
Comparison Rate
5.23% p.a.
95% 80%
$500k to $749k (Special Discount) (Owner Occupier, IO)
4.48% p.a.
Comparison Rate
4.88% p.a.
90% 80%
$500k to $749k (Special Discount) (Owner Occupier, P&I)
4.44% p.a.
Comparison Rate
4.84% p.a.
90% 80%
$750k+ (Special Discount) (Investor, IO)
4.68% p.a.
Comparison Rate
5.07% p.a.
90% 80%
$750k+ (Special Discount) (Investor, P&I)
4.64% p.a.
Comparison Rate
5.03% p.a.
90% 80%
$750k+ (Special Discount) (Owner Occupier, IO)
4.43% p.a.
Comparison Rate
4.83% p.a.
90% 80%
$750+ (Special Discount) (Owner Occupier, P&I)
4.39% p.a.
Comparison Rate
90% 80%
$750,000 to $999,999 (Owner Occupier, P&I)
4.59% p.a.
Comparison Rate
4.99% p.a.
90% 80%
$750,000 to $999,999 (Investor, P&I)
4.84% p.a.
Comparison Rate
5.23% p.a.
95% 80%
$750,000 to $999,999 (Investors, IO)
4.88% p.a.
Comparison Rate
5.27% p.a.
90% 80%
$750,000 to $999,999 (Owner Occupier, IO)
4.63% p.a.
Comparison Rate
5.02% p.a.
90% 80%
$250k to $499,999 (Special Discount) (Investors, IO)
4.78% p.a.
Comparison Rate
5.17% p.a.
90% 80%
$500,000 to $749,999 (Investors, IO)
4.88% p.a.
Comparison Rate
5.27% p.a.
90% 80%
$100,000 to $149,999 (Owner Occupier, IO)
5.08% p.a.
Comparison Rate
5.47% p.a.
90% 80%
$100,000 to $149,999 (Owner Occupier, P&I)
5.04% p.a.
Comparison Rate
5.43% p.a.
90% 80%
$150,000 to $249,999 (Investor, P&I)
5.04% p.a.
Comparison Rate
5.43% p.a.
95% 80%
$250k to $499,999 (Special Discount) (Investor, P&I)
4.74% p.a.
Comparison Rate
5.13% p.a.
95% 80%
$100,000 to $149,999 (Investor, P&I)
5.29% p.a.
Comparison Rate
5.67% p.a.
95% 80%
$1 Million+ (Investor, P&I)
4.84% p.a.
Comparison Rate
5.23% p.a.
95% 80%
$1 Million+ (Investors, IO)
4.88% p.a.
Comparison Rate
5.27% p.a.
90% 80%
$1 Million+ (Owner Occupier, P&I)
4.59% p.a.
Comparison Rate
4.99% p.a.
90% 80%
$150,000 to $249,999 (Investors, IO)
5.08% p.a.
Comparison Rate
5.47% p.a.
90% 80%
$100,000 to $149,999 (Investors, IO)
5.33% p.a.
Comparison Rate
5.71% p.a.
90% 80%
$250,000 to $499,999 (Investors, IO)
4.88% p.a.
Comparison Rate
5.27% p.a.
90% 80%
$250,000 to $499,999 (Owner Occupier, IO)
4.63% p.a.
Comparison Rate
5.02% p.a.
90% 80%
$250,000 to $499,999 (Owner Occupier, P&I)
4.59% p.a.
Comparison Rate
4.99% p.a.
90% 80%
$150,000 to $249,999 (Owner Occupier, IO)
4.83% p.a.
Comparison Rate
5.22% p.a.
90% 80%
$250,000 to $499,999 (Investor, P&I)
4.84% p.a.
Comparison Rate
5.23% p.a.
95% 80%
$150k to $249,999 (Special Discount) (Owner Occupier, IO)
4.73% p.a.
Comparison Rate
5.12% p.a.
90% 80%
$150,000 to $249,999 (Owner Occupier, P&I)
4.79% p.a.
Comparison Rate
5.18% p.a.
90% 80%
$150k to $249,999 (Special Discount) (Investor, P&I)
4.94% p.a.
Comparison Rate
5.33% p.a.
95% 80%
$150k to $249,999 (Special Discount) (Investors, IO)
4.98% p.a.
Comparison Rate
5.37% p.a.
90% 80%
1 Year Fixed (Owner Occupier)
4.39% p.a.
Comparison Rate
5.18% p.a.
95% 80%
1 Year Fixed (Investors)
4.64% p.a.
Comparison Rate
5.42% p.a.
90% 80%
2 Year Fixed (Owner Occupier)
3.99% p.a.
Comparison Rate
5.07% p.a.
95% 80%
2 Year Fixed (Investors)
4.19% p.a.
Comparison Rate
5.30% p.a.
90% 80%
3 Year Fixed (Owner Occupier)
4.09% p.a.
Comparison Rate
5.02% p.a.
95% 80%
3 Year Fixed (Investors)
4.29% p.a.
Comparison Rate
5.25% p.a.
90% 80%
4 Year Fixed (Owner Occupier)
4.59% p.a.
Comparison Rate
5.14% p.a.
95% 80%
4 Year Fixed (Investors)
4.84% p.a.
Comparison Rate
5.38% p.a.
90% 80%
5 Year Fixed (Owner Occupier)
4.39% p.a.
Comparison Rate
5.04% p.a.
95% 80%
5 Year Fixed (Investors)
4.59% p.a.
Comparison Rate
5.26% p.a.
90% 80%
Product NameBankSA Advantage Package Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$249,999
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Ongoing Fees$395 p.a.
Settlement Fee$100
Discharge Fee$350

The Advantage Package from BankSA is suitable for first home buyers, investors and refinancing. If your records are not up to date or are lacking in any way, then you may want to consider applying for a low-doc loan, which does not require the same degree of income and personal wealth documentation.

How does the BankSA Advantage Package work?

To create your own Advantage Package, you’ll need to pick a home loan, credit card and transaction account. Please refer to the table below as to which financial products you can choose.

Home loanCredit cardTransaction account
Standard variable rateAmplify VisaComplete Freedom
Portfolio loanVertigo MasterCard
Fixed ratePlatinum Visa
Introductory rateGold Low Rate Visa

For example, if you’re an investor you could select a Portfolio Loan as part of your package. This loan will allow you a flexible line of credit that combines personal and investment finances into one loan.

Features 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.
  • Waived fees and discounts. By combing your products into the Advantage Package, you may eligible for a range of home loan interest rates discounts, insurance discounts and waived fees on other products.
  • Offset accounts available. You can reduce interest payments on your home loan with the interest-offset feature available in several BankSA home loans. For example, if you select a Standard Variable Rate Loan, you can offset the funds in your linked transaction account against the balance of your home loan. If you choose to select the Fixed Rate Home Loan a similar feature allows you to reduce interest payments on the portion of your home loan which is equal to the balance of your linked transaction account.
  • Flexible repayments. Repayments are flexible and you can decide the schedule; with several different options designed to make the process easier for you. If you decide to make payments based on the value of the principal borrowed and the interest rate on that loan, you can choose to make them weekly, fortnightly, or monthly for up to thirty years. If, however, you would prefer to make payments based on the interest accrued on your loan only, you can make them monthly for up to fifteen years.
  • Redraw facility available. Another feature of the package is that you can redraw excess payments made previously on your loan,
    and do it for free via phone or Internet banking.

Fees

Fees you can avoid

  • Home loan establishment fee, monthly loan administration fee, annual credit card fee, monthly transaction account-keeping fee, monthly full offset fee. As part of the Advantage Package all of these fees are waived.
  • Lender’s Mortgage Insurance (LMI). Full documentation home loans with more than 80% loan-to-value (LVR) are liable for LMI, similar to low-doc loans with more than 60% LVR.

Fees you can’t avoid

  • Annual fee $395. This fee cover the maintenance of your package.
  • Exit Fee. A discharge fee of $350 will be charged to finalise and close your loan account.

How to apply for the BankSA Advantage Package

If you’ve decided that you are interested in applying for the Advantage Package Loan, then please click ‘go to site’ to be safely redirected to the BankSA enquiry page. Please allow up to 15 minutes for the application process.

You must be able to prove your identity, citizenship, residency, or legal residency if born in a foreign nation. This can be done with a number of documents, including passports, birth certificates, drivers’ licenses, or government issued ID cards.

You’ll then need to verify your financials and demonstrate to the bank that you are an appropriate candidate for the Advantage Package Loan. This means that you will need to provide BankSA with documentation of your current savings history and proof of income from your employer (often in the form of pay slips). If you are a self-employed applicant, then you can fulfill this requirement by producing tax returns.

All applicants must disclose Centrelink payments, or any current entitlements, as well as any documents relating to maintenance payments. Applicants must provide a list of current financial commitments, in the form of credit card statements, personal loan statements and documentation about current expenses. All applicants must also provide documentation relevant to the purpose of their loan, including plans and specifications for the use of the new property.


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BankSA Advantage Package Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 7 September 2016 at 12:45.

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2 Responses to BankSA Advantage Package Home Loan

  1. 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.

    • Staff
      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

BankSA Advantage Package Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $395

  • Max LVR

    80%

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