BankSA home loans

From humble beginnings, BankSA now serves one in four South Australians, with the largest network of branches and ATMs in the state.

BankSA first opened in March 1848 with a single room office under the original name the Savings Bank of South Australia. Since then, it has had a colourful history, changing ownership and names several times, even collapsing in 1991. Now BankSA is part of the Westpac Banking Corporation.

BankSA has 3,800 staff, 800,000 customers and 38,000 shareholders.

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Mark Bristow

Personal Finance Editor

Content updated

17 Oct, 2022

Product data updated

22 Oct, 2024

Why choose BankSA

Benefits

Flexible repayment options.
Package and specialised loans available.
Interest-only payments.

Drawbacks

High standard variable rate.
Branch access limited to SA and NT.

Home Loans calculator

Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios.

Your estimated mortgage repayments

Total interest

Total repayments

How much can I borrow?

Compare home loans

All calculations are estimates only; they are not guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
It is assumed that data entered into the calculator, including interest rates, do not change for the lifetime of the loan - unless specified.
The Present Value provided by this calculator is displayed as the amount labelled 'Loan amount'.
At the end of the interest-only period, the rate may change. For this calculation, rate switches to the current rate.
The current rate is today’s average big 4 owner occupier advertised discounted variable rate (LVR 80%), unless you have inserted your own rate.
Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.

Months are assumed to be of equal length. However, given some months are longer than others, interest charged may vary depending upon the month.
One year is assumed to contain exactly 52 weeks or 26 fortnights. Thus each year has 364 days.
The calculator uses the unrounded repayment to derive the home loan summary line graph and repayment schedule. However, institutions may round repayments to the nearest cent.
Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
Calculator does not include the cost of fees or other extra charges.
Calculator does not account for changes to interest rates over time.
This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Consider whether you need financial advice from a qualified adviser.
After the interest only term ends, your repayments will change based on the current* interest rate. This rate is subject to change. Read our full disclaimer.

Contact a mortgage broker

BankSA home loans are available through brokers who can help find the right loan and manage your application at no charge.

Jason Bai

VIC3000

Customer Representative Number: 506957

Get expert advice from a home loans specialist.

• I‘ve helped thousands of clients achieve their homeownership dreams with personalized mortgage solutions. • I special...

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Elgan Cohen

VIC3205

Customer Representative Number: 530430

Get expert advice from a home loans specialist.

As a seasoned mortgage broker with over 15 years of experience, I am deeply committed to helping clients meet their lend...

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Salil Arora

VIC3023

Customer Representative Number: 543601

5.0

25 Google reviews

Get expert advice from a home loans specialist.

First home, next home, investment, refinance, or SMSF loan? OK, where do we start? First things first—let’s start with...

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BankSA customer service

BankSA offers customers a number of contact options for their financial products and services. These include a number of specialised phone lines for personal and business banking and a dedicated financial hardship line for those facing difficulties in repaying their loans. Customers can also contact the bank online, via email, a general phone line, or visit BankSA staff in person at a local branch.

Customer service centre (phone, email, branch)
Mobile app
Online banking
Live Chat
Mobile banking staff

How to Apply

Potential BankSA customers can apply for a home loan in a number of ways. An online application form is available at on the BankSA website and customers will receive indicative approval within 10 minutes and will be contacted by a staff member. Applications can also be completed by phone or by visiting a BankSA branch. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This may include:

Personal identification documents.
Proof of income and employment.
Personal insurance documents.
Information on existing property, liabilities and loans.

Refinancers will also need to provide evidence of their existing loan and current payout quote.

About BankSA home loans

BankSA home loans cater for a wide range of circumstances and situations including:

First home buyers
Owner-occupiers
Upgraders (building loans)
Refinancers
Investors
Self-employed (low-doc loans)
Up to 30 year mortgages

BankSA also offers a lot of choice on how its home loan interest rates are structured:

Variable interest rates
Fixed interest rates
Interest-only loans
Principal-and-interest loans
Split loans

BankSA advertises that it has one of Australia’s widest range of home loans. Mortgages can last for up to 30 years. Redraw facilities and offset accounts are also available.

BankSA home loans also offer flexible repayment options for customers, depending on their stage of life and needs. BankSA also offers lower rates and fees for customers who switch their home loan from another bank that is not already under the Westpac group.

BankSA home loan rate

When looking for the best home loan interest rate, it’s important to know that BankSA interest rates vary significantly, depending on your situation.

Owner-occupier home loan rates, principal and interest

BankSA delivers very low variable home loan interest rates. Their fixed interest rate is moderate compared to other banks.

Owner-occupier home loan rates, interest-only

BankSA interest-only loans for owner-occupiers on a variable interest rate are high compared to other lenders. However, its fixed term interest rates are moderate.

Investor home loan rates, principal and interest

BankSA offers moderately low interest rates to investors on their variable interest rate. Their fixed interest rates vary from moderately low to moderate, depending on the term.

Investor home loan rates, interest-only

Compared to other banks, BankSA’s investor interest-only variable rate is high and their fixed interest rate is moderate.

BankSA home loans reviews

BankSA offers almost every type of mortgage to every type of borrower out there. Whether you are looking to refinance, renovate or buy your first home, there is likely to be a home loan to meet your needs. BankSA also offers specialist home loans, including SMFS mortgages and low-doc loans, as well as redraw facilities and offset accounts.

There are several low to moderate interest rates offered by BankSA to owner-occupier and investors, as long as principal and interest is paid. Discounts apply for customers who combine their BankSA home loan with a credit card and transaction account.

Although it has had a turbulent history, BankSA, under the Westpac group umbrella, has become a trusted brand in South Australia. You don’t have to live in South Australia to get a home loan with BankSA, but it’s important to note that it only has branches in South Australia and the Northern Territory.

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About our expert

Mark Bristow

Personal Finance Editor

Mark Bristow is RateCity's Home & Personal Finances Editor, and an experienced analyst, researcher, and producer. While primarily focused on Australian mortgage and home loan expertise, he has experience across energy, home and travel insurances. Mark has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

BankSA home loans

Why choose BankSA

Benefits

Drawbacks

BankSA Home Loans