In this guide

  • Review
  • Details
    • Product details
  • How does the BankSA Unsecured Personal Loan works?
  • How to apply
  • Features of this loan
  • How much does the BankSA Unsecured Variable Rate Personal Loan cost?
  • Compare other personal loans
  • Your reviews
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BankSA Unsecured Variable Rate Personal Loan

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BankSA Unsecured Variable Rate Personal Loan

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Interest Rate (p.a.)
6.89% to 19.99%
Comp. Rate (p.a.)
7.81% to 20.83%
Min Loan Amount
$2,000

Summary

Borrow from $2,000 up to $50,000. Interest rates are variable and personalised based on your credit score.

BankSA’s Unsecured Personal Loan lets you borrow from $2,000 up to $50,000. Loan terms range from 1 to 7 years. As this loan is unsecured, you can borrow without using an asset as security. Interest rates are variable, meaning that your repayments will fluctuate only a monthly basis depending on the market interest rate.

Interest rates are also personalised based on your credit score and personal financial circumstances. The rate ranges from 6.89% p.a. to 19.99% p.a. There is also an establishment fee of $150 and a monthly administration fee of $10.

Pros

  • Lower minimum loan amount of $2,000
  • Choose between a fixed or variable rate
  • Flexible repayment options

Cons

  • Monthly administration fee of $10
  • Withdrawal fees may apply

In this guide

  • Review
  • Details
    • Product details
  • How does the BankSA Unsecured Personal Loan works?
  • How to apply
  • Features of this loan
  • How much does the BankSA Unsecured Variable Rate Personal Loan cost?
  • Compare other personal loans
  • Your reviews

Details

Product details

Product Name BankSA Unsecured Variable Rate Personal Loan
Interest Rate (p.a.) 6.89% to 19.99%
Comp. Rate (p.a.) 7.81% to 20.83%
Interest Rate Type Variable
Min Loan Amount $2,000
Max. Loan Amount $50,000
Loan Security Unsecured

How does the BankSA Unsecured Personal Loan works?

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 6.89% p.a. for both fixed and variable loans, with a comparison rate of 7.81% p.a. Your individual rate is determined by your credit history and application, with a maximum rate of 19.99% 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.

How to apply

You can apply for this personal loan online and 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

Features of this loan

  • Loan term. You are able to borrow your loan amount for between 1 and 7 years for a fixed rate loan and for between 1 and 7 years for a variable 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.
  • 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. 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.
  • Fast application. You can apply online and receive a response within 60 seconds. Applications usually take less than 15 minutes.

How much does the BankSA Unsecured Variable Rate Personal Loan cost?

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:

  • $150 establishment fee.
  • $10 monthly administration fee.
  • Early repayment fee. A discharge fee may apply depending on when you repay the loan.

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan
Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000
Interest Rate (p.a.)
6.75%
to 26.95%
Comp. Rate (p.a.)
6.75%
to 26.95%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$922.89
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OurMoneyMarket Personal Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
1.50% - 6%
min. $250
Monthly Fee
$0
Monthly Repayment
$934.23
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Harmoney Unsecured Personal Loan
Finder award winnerFixed3 - 7 Years $2,000 - $70,000
Interest Rate (p.a.)
5.76%
to 24.03%
Comp. Rate (p.a.)
6.55%
to 24.98%
Application Fee
$275 - $575
Monthly Fee
$0
Monthly Repayment
$926.83
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Citi Personal Loan Plus
Variable3 - 5 Years $2,000 - $55,000
Interest Rate (p.a.)
10.90%
Comp. Rate (p.a.)
11.19%
Application Fee
$199
Monthly Fee
$10
Monthly Repayment
$997.25
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Special Offer: Monthly Fee of $10 waived for applications submitted before 30 June 2024.
Latitude Variable Rate Personal Loan
Variable2 - 7 Years $5,000 - $70,000
Interest Rate (p.a.)
9.49%
to 29.99%
Comp. Rate (p.a.)
10.37%
to 30.69%
Application Fee
$0
Monthly Fee
$13
Monthly Repayment
$973.85
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Special Finder offer: $395 establishment fee waived for approved personal loan applications submitted through Finder. Latitude may withdraw offer at any time. T&Cs apply.
NAB Personal Loan Unsecured Fixed
Fixed1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
7.91%
to 21.33%
Application Fee
$150
Monthly Fee
$10
Monthly Repayment
$940.81
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Pepper Money No Fee Unsecured Personal Loan
Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000
Interest Rate (p.a.)
6.75%
to 26.95%
Comp. Rate (p.a.)
6.75%
to 26.95%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$922.89
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NAB Personal Loan Unsecured Variable Rate
Variable1 - 7 Years $5,000 - $55,000
Interest Rate (p.a.)
6.99%
to 20.49%
Comp. Rate (p.a.)
7.91%
to 21.33%
Application Fee
$150
Monthly Fee
$10
Monthly Repayment
$940.81
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ING Personal Loan
Finder award winnerFixed2 - 7 Years $5,000 - $60,000
Interest Rate (p.a.)
6.89%
to 18.99%
Comp. Rate (p.a.)
7.10%
to 19.23%
Application Fee
$150
Monthly Fee
$0
Monthly Repayment
$929.43
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