BankSA Standard Variable Rate Home Loan

Enjoy a flexible home loan with a competitive variable interest rate with the BankSA Standard Variable Rate Loan.

BankSA has been a leading savings and deposit bank for years and now offers its customers a wide range of loans for any purpose. The BankSA Standard Variable Rate Home Loan offers competitive and flexible interest rates with the option to switch from variable to fixed interest rates at your own convenience. This loan also offers you full interest offset and redraw facilities along with flexible repayment options.

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Review by


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

You can borrow funds with this loan to buy vacant land or to build or buy a home. The loan can also be helpful for major renovations and is available to investors who might be interested in real estate or companies looking to build.

About this loan

What are the features and benefits of the BankSA Standard Variable Rate Home Loan?

  • Repayment options. BankSA offers you two repayment plans to help you choose which works best for you - interest-only repayments or principal and interest repayments. You can choose a weekly, fortnightly or monthly repayment plan with principal and interest based loans, while only monthly repayments are available for interest-only repayments.
  • Additional repayment options. You can make additional payments without attracting any extra fees to help you finish your loan repayments faster. Moreover, you can use automatic repayments to ensure your monthly or weekly repayments are paid on time.
  • Loan redraw. You can access any extra payments you make by requesting to redraw funds. You can also save on the relevant charges by making your request through Internet banking or over the phone.
  • Repayment pause. You can take a break from paying your loan as long as you have a valid reason to do so, such as a period where you are on leave from work.
  • Split your loan. You can split your loan into fixed and variable rate portions.
  • Family pledge. Get a close family member to guarantee part of your home loan using their home equity and you can save on Lender's Mortgage Insurance (LMI). Depending on the amount of the loan that is guaranteed, you might reduce or even completely avoid paying the insurance premiums.
  • Discounts and special interest rates. BankSA offers all of its customers the opportunity to get the Advantage Package, which offers special interest rates and fee discounts in return for an annual fee.
  • Interest offset account. You can save on interest payments by offsetting the amount in your linked transaction account with your loan balance.
  • Deposit protect bond. Using a deposit protect bond you can avoid paying a cash deposit on your loan and instead earn interest on your deposit money until the settlement date. This is especially helpful when you are using equity on an existing property to finance your loan.

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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