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.

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By

Richard Whitten

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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).

Expert review

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.

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2 Comments

    Default Gravatar
    Stella
    February 15, 2022

    My husband and I are 67 and 68…we have a house at a value $180.000. We are wanting to try to buy….if we had $30.000 ..deposit….are we eligible to do so.both on pension we get the full pension.thank you Stella Goss.

    Reply
      AvatarFinder
      Richard
      February 24, 2022

      Hi Stella,

      You can apply for a home loan though it might be more difficult if your only source of income is coming from your pension. You can use our guide on Home Loans for Pensioners to know more about this.

      You can then speak with a representative from BankSA to enquire about your options. They can be reached at 13 13 76.

      Alternatively, you can contact a mortgage broker to get some personalised advice regarding your situation. You can search online for mortgage brokers in your area or use our Mortgage Broker page.

      Hope this helps!
      Richard

      Reply
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