BankSA Unsecured Personal Loan

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A competitive rate to help you finance anything, from debt consolidation to home renovations.

If you’re looking for a personal loan to finance a few different purchases, to consolidate existing debts or to pay for something you can’t use as a guarantee, then you might want to consider an unsecured loan.

From 12.99% (variable)

Interest Rate (p.a.)

14.06%

Comparison Rate (p.a.)

$2,000

Min Loan Amount

Details

Product NameBankSA Unsecured Variable Rate Personal Loan
Interest Rate (p.a.)From 12.99% (variable)
Comparison Rate (p.a.)14.06%
Interest Rate TypeVariable
Min Loan Amount$2,000
Max. Loan Amount$40,000
Loan SecurityUnsecured

Main points to consider about the BankSA Unsecured Personal Loan

This loan comes as a fixed or variable rate option so you are able to choose the type of repayments that will best suit your budget. Rates start from 12.99% p.a. for both fixed and variable loans, with a comparison rate of 14.06% p.a.. Your individual rate is determined by your credit history and application, with a maximum rate of 18.9% p.a..

While this loan offers competitive rates, keep in mind that you will be charged to use some of the features of the loan, such as the redraw facility, or to repay the loan early. You can take a look at the fees in the table above.

Features of the BankSA Unsecured Personal Loan

  • $0 establishment fee. BankSA will waive the establishment fee if you apply and are approved before 30 September 2019. This is normally $195.
  • Interest rate. Choose between a fixed or variable rate for the loan.
  • Loan term. You are able to borrow your loan amount for between 1 year and 5 years for a fixed rate loan and for between 1 year and 7 years for a variable rate loan.
  • Loan amount. Borrow as much as $40,000, with the minimum loan amount set at $2,000.
  • Flexible repayments. You can choose to make weekly, fortnightly or monthly repayments.
  • Additional repayments. If you have opted for the variable rate loan option, you are able to make additional repayments.
  • Redraw facility. A redraw facility is available, but keep in mind there is a $10 fee. The minimum redraw amount is $500.
  • Account tracking. Keep track of your repayments and the amount you have left to pay through BankSA’s Internet banking facility.
  • Insurance cover. Consumer Credit Insurance is available to protect your loan.
  • Fast application. You can apply online and receive a response within 60 seconds. Applications usually take less than 15 minutes.

Fees and charges

When considering your personal loan options, it’s important to weigh up the benefits of the loan against the cost you will incur. Here are some of the fees and charges you can expect from the BankSA Unsecured Personal Loan:

  • $0 ($195 establishment fee waived) establishment fee.
  • $12 monthly administration fee.
  • Payment dishonour fee. You are charged $9 each time a direct debit payment fails.
  • $10 redraw fee. This is charged every time you use the redraw facility on a variable loan.
  • Early repayment fee. You are charged $150 if the loan is fully repaid within the first 12 months. This is reduced to $100 if you repay the loan after the first 12 months but before the end of the loan term.

You will also pay break costs if you repay the fixed rate loan early.

How to apply

If you’d like to apply for this personal loan, you can click "Go to Site" to submit your application. The form usually takes about fifteen minutes to fill out and you will receive a response within 60 seconds. To be eligible for a loan you will need to be over the age of 18 and have an Australian residential address. You will also need to provide the following information:

  • Your name, contact information and proof of your identity
  • The name and contact details of your current employer
  • Information on weekly after-tax income for each person applying for the loan
  • Financial details regarding your assets, savings and investments
  • Information about your open credit accounts including the limits of your credit cards and store accounts
  • Details of your other expenses
  • One personal reference including their name, address and contact information
  • Self-employed people will need to provide recent tax information

Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: The establishment fee will be waived if you apply before 30 September 2019.

Logo for ING Personal Loan
ING Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

Logo for RateSetter Unsecured Personal Loan - 3yr Variable
RateSetter Unsecured Personal Loan - 3yr Variable

You'll receive a variable rate between p.a. and 16.40 p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

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2 Comments

  1. Default Gravatar
    Joan
    February 20, 2015

    Is a retiree on a pension eligible?

    • AvatarStaff
      Shirley
      February 20, 2015

      Hi Joan,

      Thanks for your question.

      These type of applications are handled on a case by case basis. If you would like to discuss your eligibility or options, please get in touch with BankSA directly.

      Cheers,
      Shirley

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