Peace of mind when you need it, attached conveniently to your transaction account.
Getting ‘caught’ short doesn’t usually imply that you have time to apply for emergency funds to tide you over. So when emergency expenses crop up, it can be good to know that you have credit to draw on should you need it. This is where the Unsecured Personal Overdraft from BankSA might be able to help.
An overdraft is a feature that lets you withdraw up to and including a certain limit beyond what is available in your transaction account. It works as a ready-to-draw loan that you won’t pay interest on until you use it. This product from BankSA offers a competitive variable rate, generous credit limit and no establishment fee, helping you to save even more.
From 14.99% (variable)
Interest Rate (p.a.)
Min Loan Amount
Things to consider about the BankSA Unsecured Personal Overdraft
This overdraft facility from BankSA is unsecured, meaning you're not required to attach any guarantees in order to be approved for credit. The overdraft is linked directly to your transaction account, so you'll be required to have a BankSA Complete Freedom account in order to benefit from the facility. If you don't have one of these accounts, you can easily open one when you apply.
Features of the BankSA Unsecured Personal Overdraft
There's a host of features that come with a personal overdraft with BankSA:
- Interest rate. This overdraft comes with a competitive variable interest rate of 14.99% p.a.
- Credit limit. When you apply for this overdraft you'll be approved for a limit of between $500 and $20,000, depending on your financial circumstances and BankSA's lending criteria.
- Repayment and terms. As it is linked to your BankSA transaction account, there is no expiry date for the overdraft facility. There are also no repayment terms and the amount outstanding is payable on demand.
- Repayment flexibility. You are not required to make any regular minimum repayments and there is no fixed repayment amount.
- Transaction account. Your overdraft will be linked to your BankSA Complete Freedom transaction account.
- Account management. BankSA gives you the ability to track and manage your overdraft facility and transaction account through their Internet Banking portal.
- Fees. You pay $0 establishment fee to set up your account, although you will be charged a $5 monthly fee as long as your overdraft facility is open.
- Account access. You'll be able to access the full limit of your credit 24 hours a day, making for a convenient credit solution when you need it most.
How to apply
As long as you're 18 and a permanent Australian resident, you'll be able to apply.
What you'll need to apply:
- Your current employer's name and contact details
- Weekly after-tax income for each applicant
- Details of your assets, savings and investments
- The current limits of your credit cards and store cards
- One personal reference and their contact information
- Recent tax information if you're self-employed.
Your application will take about 10 to 15 minutes to complete and you will receive an immediate response regarding your application's outcome.
Personal Loan OffersImportant Information*
You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate of 10.5% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants. Note: These rates are available until 2 February 2021. Credit, eligibility criteria and terms & conditions apply.
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.