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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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 amounts. The minimum loan amount is $30,000.
- Loan term. Up to 30 years available for principal and interest repayments, or 15 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.
- Repayment Pause. Lower or halt repayments for 3-12 months if/when you have a legitimate period of time away from work, such as maternity leave
What fees and charges come with this loan?
- Establishment fee. This loan has an establishment fee of $0 which covers the set up costs of this loan. It is currently waived when you borrow over $150,000.
- Discharge fee. From $350. This is charged when you exit the loan.
- Settlement fee: $100. This one-off fee covers the costs of setting up your loan account.
- Redraw fee: $50 when redrawing in a BankSA branch.
How to apply
If you think that the BankSA Basic Home Loan could work for you, click the green button to get in touch with a lending specialist from the bank. Make sure you have the following information on hand:
- Employment details including addresses and phone numbers
- Income details including assets
- Details of any other loans (personal or home), credit card debts or store cards
Home Loan OffersImportant Information*
Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.
Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).
A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.