BankSA Unsecured Fixed Rate Personal Loan
- Interest Rate (p.a.)
- 7.49% to 20.59%
- Comp. Rate (p.a.)
- 8.54% to 21.59%
- Min Loan Amount
- $2,000
Summary
Borrow up to $50,000 with the BankSA Unsecured Fixed Rate Personal Loan.
Pros
-
Lower minimum loan amount of $2,000
-
Choose between a fixed or variable rate
-
Flexible repayment options
Cons
-
Monthly administration fee of $15
-
Withdrawal fees may apply
Details
Product details
| Product Name | BankSA Unsecured Fixed Rate Personal Loan |
| Interest Rate (p.a.) | 7.49% to 20.59% |
| Comp. Rate (p.a.) | 8.54% to 21.59% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $2,000 |
| Max. Loan Amount | $50,000 |
| Loan Security | Unsecured |
Main points to consider
This loan comes with a fixed interest rate so you can budget your repayments for the life of the loan, which can extend up to 7 years. You can borrow between $2,000 and $50,000.
Interest rates start from 7.49% p.a., with a personal loan comparison rate of 8.54% p.a. Your individual rate will vary based on your credit history and the details of your application, with a maximum rate of 20.59% p.a.
Features of the BankSA Unsecured Personal Loan
- Interest rate. This personal loan comes with a fixed interest rate, keeping your repayments steady for the life of the loan.
- Loan term. You are able to borrow your loan amount for between 1 to 7 years for a fixed rate loan.
- Loan amount. Borrow as much as $50,000, with the minimum loan amount set at $2,000.
- Flexible repayments. You can choose to make weekly, fortnightly or monthly repayments.
- 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 you compare 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:
- $250 establishment fee.
- $15 monthly administration fee.
- Direct debit failure fee. You are charged $9 each time your direct debit repayment fails to process.
- Early repayment fee. You will be charged $150 if the loan is fully repaid within the first 12 months, or $100 if the loan is repaid after the first 12 months but before the end of the loan term.
You will also pay break costs if you repay the loan early.
How to apply
If you'd like to apply for this 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 personal 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
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