BankSA Fixed Rate Home Loan
Shield yourself from ever-changing loan interest rates by getting a fixed rate home loan with Bank SA.
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. During the time that your loan is fixed, you’ll pay the same amount in repayments, making it easier to budget.
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).
The Bank SA Fixed Rate Home Loan is specifically designed for homeowners and investors. The fixed interest rate makes it easy for you to know just how much you are supposed to pay and arrange your budget appropriately.
About this loan
What are the features and benefits of the Bank SA Fixed Rate Home Loan?
- Package deal to save more. Save money on fees and get special interest rates with the Advantage Package, which is a package deal for your home loan, credit card and transaction account.
- Loan repayment. The Bank SA Fixed Rate Home loan offers two modes of repayment to choose from; principal and interest repayments and interest-only repayments. For principal and interest repayment you can make weekly, fortnightly or monthly payments while interest-only loans only offer monthly repayments. You also get the option of setting up an automatic repayment plan from a specific account and can also make additional repayments of up to $10,000 for your home loan before break costs apply. On investment loans, you can also pay the interest in advance and get a discount of 0.2% per annum off your interest rate.
- Family pledge. You can avoid paying Lender's Mortgage Insurance (LMI) by having a family member guarantee your part of your home loan by using their home equity as extra security.
- Split your loan. You also get the opportunity to split your loan into fixed and variable portions to receive the benefits of both.
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.