Advantage Package Special Discount Advantage Package Special Discount $250K - $499,999 (Interest Only) (Owner Occupied)

  • 4.41%
    p.a Standard Variable
  • 4.57%
    p.a Comparison**
  • $100
    Upfront fees
  • $395
    Annual fees
  • 80%
    Max LVR
  • $1,960
    Per Month*

About BankSA

The Bank of South Australia, also known as Bank SA is the largest financial institution in South Australia and the state's largest home lender. The forerunners of Bank SA and the State Bank of South Australia merged under the same name State Bank of South Australia in 1984. Bank SA is now a division of Westpac, having been a division of St. George Bank before Westpac and St. George merged in 2008. Bank SA have over 100 branches in South Australia and the Northern Territory and pride themselves on their home loan packages with specialist features and low doc options loan options.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,960
rate per annum
4.41%

Loan to Value Ratio

Borrow up to the maxium of 80% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Lvr
80%
Capitalise LMI
No

Availability

For Construction, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.

Term
3 - 30 years
Min
$250,000
Max
$499,999

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Not Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Yes
Min Redraw
$0
Redraw fee
$0

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
Yes
Redraw Available
Yes
Credit Card
Yes
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
Yes
Check Account
No
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
No
Redraw Fee
Yes

Repayments

You can make your repayments Monthly.

Interest Only Option
Yes
Max Interest Only
5 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.

Total
$100
Settlement
$100

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$395
Ongoing Yearly
$395

Exit Fees

Fees associated with prematurely ending the loan.

Total
$350
Exit
$350
Early Repayment
$0
Switch To Fixed
$0

Notes

ADVANTAGE PACKAGE Available for fixed loans >$150K and variable loans >$100K. Save when you package a home loan, credit card and transaction account - Flexible repayment options - Choose the home loan, credit card and transaction account most suitable for you - then package and save! - Get great home loan interest rate discounts and save on fees - Get great benefits from discounts on Home Loan Protection, Home and Contents Insurance, and Protection Plans premium - Perfect for 1st home buyers, investors and refinancing. $395 single package fee covers up to 5 home or investment loans - $0 home loan establishment fee - $0 monthly home loan administration fee - $0 annual credit card fee - $0 monthly transaction account-keeping fee - $0 monthly full offset service fee - Free redraw via Phone and Internet banking. The following are not allowed in a package: - any loan where a borrower is a company - any loan where a borrower is a trustee - any loan where a security property is under company title - any loan where any sub-account was/is a construction sub-account. New stand-alone refinance applications, from an external loan provider, for Owner Occupier Interest Only Home Loans will no longer be accepted. Internal refinance of Owner Occupier Interest Only is still allowable subject to maximum LVR requirements and the suitability based on the customer’s requirements and objectives. All other refinance Home Loan applications (Principal and

LVR Notes

No LMI required for <80% LVR.

Fee Notes

- $25 Fee for manual Redraws, $10 per Phone and Internet redraw. (if redraw is available) - Split Loan Fee: $150 - Partial Discharge Assessment Fee: $350. - Additional Security Property Fee: $100. - Company Title: $205 per security - Trustee: $205 per trustee - When any of the security offered involves a Guarantee:$205 per guarantor

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided