These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Key takeaways
BankSA is an online Australian lender owned by Westpac.
It has home loans for investors and owner-occupiers, including fixed and variable rates.
Its most competitive rates are its fixed rate package home loans, so if you want to bundle your loan with an offset account and a credit card, it's a good option to consider.
This lender has online and phone support but also has a network of branches in South Australia, where the bank is based.
You need at least a 5% deposit to get some BankSA home loans, but many loans require a 10% or 20% deposit.
Compare BankSA home loans for December 2025
Hit the "Load More" button to compare a bigger selection of products. You can also find more information on each individual product by clicking "More Info".
The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
Lenders like BankSA
If you want to compare loans from similar lenders to BankSA then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:
St.George. In New South Wales and Queensland, you'll find St.George rather than Bank of Melbourne. Both lenders have very similar loan offers.
Bank of Melbourne. In Victoria and Tasmania, you'll find Bank of Melbourne rather than BankSA. Both lenders have very similar loan offers.
Westpac. Westpac owns Bank of Melbourne and offers similar package home loans.
More home loan questions
To make sure you find the right BankSA loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Do you really need a package loan? Some of BankSA's lowest rates are home loan packages that let you combine a mortgage with other products like a credit card or transaction account. This usually brings you some benefits, but if you don't actually use those other products then paying the annual package fee probably isn't worth it.
What do you need the loan for? If you're buying a home to live in you need an owner-occupier loan. Property investors need an investment loan rate. BankSA has both.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes?
What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Pre-approval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of, but there's no reason to worry.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
Because BankSA is owned by Westpac, it is considered an authorised deposit-taking institution (ADI). This means customers with money deposited in a BankSA savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
Sources
What is Finder Score?
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University.
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