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.

Refinance cashback offer
Eligible refinancers switching to BankSA can get a $3,000 cashback. To qualify, you need to refinance a loan amount of at least $200,000 with an LVR up to 80%. This offer is available for new owner-occupier loans with principal-and-interest repayments, or investment loans (principal-and-interest or interest-only). This offer is available on the Basic Home Loan and Advantage Package (annual package fee applies).
To get this offer you must apply by 28 February 2022 and settle the loan by 31 May 2022. There is a limit of one cashback offer per primary applicant. The offer excludes anyone refinancing from within the Westpac group (Westpac, St.George, Bank of Melbourne, Bank SA and RAMS). Other conditions apply.

Richard Whitten

Last Updated Sep 22, 2021

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Review by

Richard Whitten

richard.whitten@finder.com

Richard Whitten is an editor at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. 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.

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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