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.

Things to consider about this loan

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. The Standard Variable Rate Home Loan is a full documentation loan, but BankSA also offers low doc loan options.

Interest Rate Max Insured LVR Max LVR
Investor, IO
5.41% p.a.
Comparison Rate
5.58% p.a.
90% 80%
Investor, P&I
5.12% p.a.
Comparison Rate
5.29% p.a.
90% 80%
Owner Occupier, IO
5.14% p.a.
Comparison Rate
5.31% p.a.
95% 80%
Owner Occupier, P&I
4.55% p.a.
Comparison Rate
4.72% p.a.
95% 80%
Product NameBankSA Standard Variable Rate Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$10,000
Maximum Loan Amount$999,999
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$600
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$100
Discharge Fee$350


  • Redraw facility
  • A 100% offset account is linked to your home loan


  • Establishment fee of $600
  • A $350 discharge fee when closing the loan

Features 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.

What fees and charges come with this loan?

  • Save on redraw charges. You can save on redraw charges by making your request via internet banking or over the phone.
  • LMI. By using a family member’s home equity as guarantee, you can avoid paying for the lender’s mortgage insurance and save on expenses.
  • Establishment fee $600. This is charged for the creation of your loan accounts.
  • Monthly account fee $10. This is charged to maintain your account.

Applying for this loan

You will be required to provide some information when applying for a BankSA Standard Variable Rate Home Loan:

  • Personal and contact details. You’ll need to provide your full legal name and a copy of documents such as your social security number and photographic identification.
  • Savings history. You will be asked to provide a copy of statements of all saving accounts you may have with any financial institutions or banks for the last three months.
  • Monetary commitments. You are required to disclose any other financial commitments you may have, such as other loans or extra expenses like maintenance and school fees.
  • Proof of income. You will be asked to show proof that you have constant earnings. For those who are self-employed, this involves providing a copy of your personal tax returns and full financial statements for the past two years. If you earn a salary, you will be requested to provide a copy of your last two payslips and a letter from a real estate agent showing the expected rental income required for any rental properties.
  • Purpose of borrowing. The bank will need to know your reason for taking out the home loan as this affects the specific details of the application process and the documents you may have to provide.
  • Other relevant documents. Depending on your reason for borrowing and your situation, the bank may ask you to provide some documents such as company title, strata title and first home owner grant details etc.

BankSA offers you several ways for you to apply for its Standard Variable Rate Home Loan. Here are a few steps to get you started:

  • Follow our secure link that will direct you to the BankSA homepage. Here you will get any more details you might need on the loan and learn of your options.
  • You are given the option of applying for the loan directly using BankSA’s online portal or contacting any of the bank’s home loan experts for additional assistance and information. You will also get the location of your nearest branch if you would prefer a one-on-one meeting.

Related Posts

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

BankSA Standard Variable Rate Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $600 / $10

  • Max LVR


Ask a question
Go to site