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While it’s not the only way to compare home loans, interest rates are one of the most important features to look at when choosing a loan. This, in addition to fees and other charges, will eventually determine just how much you end up paying. Unfortunately, rates are never constant and can change regularly due to a range of economic factors. Bank SA’s Fixed Rate Home Loan gives you a chance to have a fixed interest rate on your loan for up to five years. At the end of these years, you get the option of choosing another fixed rate, or can opt to shift to their variable rate loan. During the time that your loan is fixed, you’ll pay the same amount in repayments, making it easier to budget.
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Review by
Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.
The Bank SA Fixed Rate Home Loan is specifically designed for homeowners and investors for properties and vacant land. The loan is also available for first time home owners who can also benefit from the Government’s First Home Owner Grant. The fixed interest rate makes it easy for you to know just how much you are supposed to pay and arrange your budget appropriately. It should be known that this is a full documentation loan, but BankSA also offers low doc loan options, as well as variable rate loans.
To apply for the home loan you will need to provide detailed information on the following: