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

  • 4.49%
    p.a Standard Variable
  • 4.65%
    p.a Comparison**
  • $100
    Upfront fees
  • $395
    Annual fees
  • 95%
    Max Lvr
  • $1,976
    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*
$1,976
rate per annum
4.49%

Loan to Value Ratio

Borrow up to the maxium of 95% 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
95%
Capitalise LMI
Yes

Availability

For ["Construction", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "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
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
Yes
Direct Salary Credit
No
Free Transactions
No
Minimum Redraw
No
Redraw Fee
No

Repayments

You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
No
Max Interest Only
0 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

EXTENDED: PACKAGING CONSTRUCTION LOANS (Available until further Notice) Bank SA extends special offer to package construction loans until further notice. This means Bank SA continues to offer following benefits to clients when packaging a construction loan: - NIL Establishment fee (save $600) - NIL Monthly Admin Fee (save at least $10 per month) - NIL Inspection fee (save at least $102.50) Eligibility: - New Eligible packaged Building loans (including owner builder) only. Non-eligible packaged loans such as company or trust loans are not eligible for this offer. NOTE: Please indicate “Construction Loan Package” in the e-lodgement notes or submission notes section of the application. OTHER PRODUCT INFO: The Advantage Package is available to new and existing borrowers. The Advantage Package is available for the products listed below only. - Owner Occupiers - Investors - Further loan sequence and loan amount increase - Flexible Choice (when no LMI is involved) - New loans - Land loans - Family Pledge (in most cases and when no LMI or refinance is involved) - Capitalised LMI (not available for Flexible Choice) The Advantage Package is NOT AVAILABLE for: - Relocation Loan (If the end debt portion of the relocation loan is a Portfolio Loan, the Portfolio Loan can be packaged. The standard Relocation Loan establishment fee will be payable on the capitalised portion.) - Interest in Advance (once the loan has settled, customers with unregulated investment loans can request interest in advance and remain in the package) - Companies and Trusts - Guarantor as Company or Trust - Where the loan involves more than 1 security and not all properties are linked to all loans - Increases involving an addition of a security property, where the additional security is not a property to be purchased. - Extended settlement loans - Loyalty Loans - Products no longer for sale (Essential/Great Australian Home Loan) Loans in the Advantage Package can be switched to other eligible loan types within the package. If a customer wants to switch the loan to a product that is not eligible to be Packaged i.e. Basic, then the Package must be closed and a switch fee is payable.

LVR Notes

For new and existing customers, max LVR for owner occupiers is 95%. Max LVR for refinances from other financial institutions is 90%. Owner Occupied: Max LVR of 95% can be increased by the amount of the LMI premium to a maximum of 2% above the max LVR for that customer. Conditions apply for new customers. These include, but are not limited to; - No Auto Decline overrides will be considered - Genuine savings policy applies, with the exception of Inheritance and Sale of non-real estate assets which are capped at 90% LVR

Notes

5% Genuine savings needs to be verified on mortgage insured loans where the LVR exceeds 85%.

Fee Notes

Partial Discharge Assessment Fee: $350

*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