BankSA Basic Home Loan
This home loan comes with competitive interest rates and no monthly fees.
This home loan provides flexible repayment options and competitive rates. You can choose between principal and interest or interest only repayments for investors and owner occupiers.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).
This loan can be used by owner occupiers or investors buying a property or vacant land. The most competitive rate is for home buyers only.
About this loan
What are the features and benefits of the BankSA Basic Home Loan?
- Loan term. Up to 30 years available for principal and interest repayments, or 5 years for interest based repayments.
- Redraw. Borrowers can access any extra payments they have made and save on withdrawal fees by making the request over the phone or online. There is a $50 fee for redraw via a branch.
- Family Pledge. This can help reduce or completely avoid having to pay Lender's Mortgage Insurance (LMI); if a guarantor agrees to take responsibility for part of your home loan by using his/her home's equity to add security to your loan agreement.
How to apply
To find out more about this loan, or to apply, click the 'Go to site' button below. This will take you to the BankSA website where you can arrange a callback or start an application. To arrange a callback, you'll need to enter your contact details.