BankSA Secured Car Loan

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Enjoy a lower minimum borrowing amount and your choice of interest rate type with BankSA.

The Car Loan from BankSA offers a wide range of loan amounts, between $3,000 and $80,000, making it suitable for a range of vehicle purchases. You can also tailor the loan by selecting a fixed or variable rate, with both coming with certain features. Find out more about this loan to find out if it meets your needs in this review.


Application Fee

From 7.49% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Max Loan Amount

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Product NameBankSA Fixed Rate Car Loan
Interest Rate (p.a.)From 7.49% (fixed)
Comparison Rate (p.a.)8.6%
Interest Rate TypeFixed
Min Loan Amount$3,000
Max Loan Amount$80,000

Main points to consider with the BankSA Secured Car Loan

You can apply for between $3,000 and $80,000 to purchase a car with this loan. This loan comes with the choice of either a fixed or variable rates.

If you opt for a fixed rate loan you can choose loan terms up to 5 years, or up to 7 years on a variable rate loan. Fixed rates start from 7.49%, with a comparison rate of 8.6%. Variable rates start from 12.74%, with a comparison rate of 13.81%. The rate you receive may vary depending on the value of the car you use as security.

You will not pay an establishment fee, but will need to pay a $12 administration fee, charged monthly. Early repayment charges will also apply.

Features of the BankSA Secured Car Loan

  • Loan amount. You can borrow anywhere between $3,000 and $80,000, giving you flexibility with the kind of car you choose to buy.
  • Fixed or variable rate options. Borrowers can choose a fixed rate from 7.49% p.a. or variable rate from 12.74% p.a. The fixed rate option comes with slightly shorter loan terms (5 years compared to 7 years) and you can only repay the loan early if you opt for the variable rate.
  • Loan terms. You can choose a loan term between 1 year and 5 years with the fixed rate loan or up to 7 years with a variable rate loan.
  • Flexible repayment options. You can choose whether to make your repayments weekly, fortnightly or monthly.
  • Car insurance. You can also choose to sign up for car insurance with BankSA, with various options for cover and lots of ways to save.

Fees and charges

  • No establishment fee.
  • Early repayment fee. You will pay $150 if you pay off your loan within the first 12 months. You will also pay $100 if you pay off the loan after the first 12 months but before the end of your loan term.
  • Documentation fee. If you require documents such as photocopies of the loan title or loan statement, or a copy of a personal cheque, you will be charged between $10 and $16 depending on the type of documents you request.
  • Administration fee. You will pay a monthly fee of $12.

Here's how you can apply

To get the application started, click "Go to Site" from this page. The eligibility for this loan is determined by certain financial and personal factors which you will need to provide in your application. These factors will also determine the amount of money you are able to borrow. To be able to apply for the BankSA Car Loan you will need to be over the age of 18 and a permanent Australian resident.

You will need to provide the following details in your application:

  • Your Australian driver's licence number
  • Details of your weekly income after tax for each applicant
  • Details of your assets, savings and investments
  • Your employer's details including name and contact number
  • Details of your income and if you are self-employed you will need to provide the previous year's tax statements
  • Details of repayment amounts and balances owing on any liabilities, including credit cards and store accounts, etc.

You don't have to be an existing customer to apply, although if you are an existing customer you can use your Internet banking account to speed up the application process. Other applicants should allow for between 10 and 15 minutes to complete the application and will usually receive a response immediately. You can keep track of the progress of your application by providing your email or phone number to BankSA to send you updates.

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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    Default Gravatar
    June 18, 2018

    Hi,I am a disability pensioner aged 75,the pension is the only income,I have an excellent credit score with D&B ,Experian and Veda,I am about to finalize a personal car loan in August this year with one of the 4 big banks,I also have a 100& on time repayment history no marks against my credit file history,I am looking for a car loan for around $6000My biggest problems are either having no other employment income or being judged by something called “the Henderson Poverty line index”which tells the lenders that I cannot service a $5000-$6000 loan as I have less than $19 per fortnight left from my pension,I am currently paying my advanced pension loan which is $98 per fortnight and my bank loan which is $50 per fortnight,both these loans will be finalized in late August this year and am looking at my options as to upgrading my current vehicle to a few years newer,do you have any information on this Henderson Poverty line index as I cannot find any formula to see how it works,any info much appreciated

      Avatarfinder Customer Care
      June 18, 2018

      Hi Errol,

      Thanks for getting in touch with finder.

      I understand the challenges of getting approved for a loan and it is important to know how lenders determine your eligibility.

      The Henderson Poverty Index (HPI) is less commonly used and was originally based on a survey of New York families in the 1950s, but has been updated using more recent Australian survey data. The index is calculated based on a family of two adults and two children, and it can be multiplied by a specific fraction to calculate a figure that applies to different family structures.

      Knowing where you are in the HPI can be a little complicated. Sometimes a table is used to determine your HPI. With this in mind, it would be a good idea to directly get in touch with Melbourne University as they are primarily the ones who generate the HPI.

      You might also be interested in reading this article, “How do lenders calculate my living expenses?

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


    Default Gravatar
    January 26, 2018

    I have a porr credit rating and am on a pension which is supported by monthly payments from income protection insurance payments and an overseas pension. My income is slightly more than $30000/ year.
    I believe I can service a car loan easily with monthly repayments coinciding with my extra payments. Will my application be acceptable from anybody

      Avatarfinder Customer Care
      February 22, 2018

      Hi Kathryn, thanks for your inquiry.

      As long as you meet the application requirements you are eligible to apply. Since is a comparison service we are unable to provide advice on whether your application will be accepted. It would be best to contact BankSA on 13 13 7 (24 hours, seven days a week).



    Default Gravatar
    October 6, 2016

    I am an international student with 573 visa. Can I apply for a car loan?
    Me and my partner are earning 1200 per week and have stable jobs.

      Avatarfinder Customer Care
      October 7, 2016

      Hi Parvind,

      Thanks for your question.

      If you are on a 573 visa, some of the lenders on this page may be able to help you.

      Please do check the eligibility criteria for each loan before submitting an application.


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