BankSA home loan repayment calculator

Thinking about taking out a home loan with BankSA? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how BankSA home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.64 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Pros
  • Flexible repayment options.
  • Package and specialised loans available.
  • Interest-only payments.
Cons
  • High standard variable rate.
  • Branch access limited to SA and NT.

BankSA home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.64%

Variable

$264

2.66%

$0
BankSA
More details

3.09%

Variable

$264

3.11%

$0
BankSA
More details

3.29%

Variable

$764

3.31%

$0
BankSA
More details

2.29%

Fixed - 3 years

$264

3.43%

$395 annually
BankSA
More details

2.79%

Fixed - 5 years

$264

3.49%

$395 annually
BankSA
More details

2.29%

Fixed - 2 years

$264

3.50%

$395 annually
BankSA
More details

2.79%

Fixed - 4 years

$264

3.52%

$395 annually
BankSA
More details

2.29%

Fixed - 1 year

$264

3.58%

$395 annually
BankSA
More details

3.24%

Variable

$264

3.67%

$395 annually
BankSA
More details

2.69%

Fixed - 3 years

$264

3.94%

$395 annually
BankSA
More details

3.19%

Fixed - 5 years

$264

3.98%

$395 annually
BankSA
More details

3.99%

Variable

$764

4.00%

$0
BankSA
More details

3.19%

Fixed - 4 years

$264

4.02%

$395 annually
BankSA
More details

3.97%

Variable

$764

4.02%

$0
BankSA
More details

2.69%

Fixed - 2 years

$264

4.03%

$395 annually
BankSA
More details

2.94%

Fixed - 5 years

$1038

4.07%

$10 monthly
BankSA
More details

2.89%

Fixed - 1 year

$264

4.14%

$395 annually
BankSA
More details

2.44%

Fixed - 3 years

$1038

4.17%

$10 monthly
BankSA
More details

2.94%

Fixed - 4 years

$1038

4.18%

$10 monthly
BankSA
More details

2.89%

Fixed - 3 years

$264

4.19%

$395 annually
BankSA
More details

3.69%

Fixed - 3 years

$264

4.21%

$395 annually
BankSA
More details

3.39%

Fixed - 5 years

$264

4.22%

$395 annually
BankSA
More details

3.69%

Fixed - 2 years

$264

4.22%

$395 annually
BankSA
More details

3.81%

Variable

$264

4.22%

$395 annually
BankSA
More details

3.69%

Fixed - 1 year

$264

4.23%

$395 annually
BankSA
More details

3.83%

Variable

$264

4.24%

$395 annually
BankSA
More details

3.39%

Fixed - 4 years

$264

4.27%

$395 annually
BankSA
More details

2.89%

Fixed - 2 years

$264

4.29%

$395 annually
BankSA
More details

4.09%

Fixed - 4 years

$264

4.33%

$395 annually
BankSA
More details

2.44%

Fixed - 2 years

$1038

4.34%

$10 monthly
BankSA
More details

4.09%

Fixed - 5 years

$264

4.35%

$395 annually
BankSA
More details

3.09%

Fixed - 1 year

$264

4.41%

$395 annually
BankSA
More details

4.10%

Variable

$264

4.51%

$395 annually
BankSA
More details

2.44%

Fixed - 1 year

$1038

4.52%

$10 monthly
BankSA
More details

3.34%

Fixed - 5 years

$864

4.55%

$10 monthly
BankSA
More details

3.39%

Fixed - 5 years

$700

4.59%

$395 annually
BankSA
More details

4.54%

Variable

$764

4.59%

$0
BankSA
More details

2.89%

Fixed - 3 years

$700

4.65%

$395 annually
BankSA
More details

2.84%

Fixed - 3 years

$864

4.68%

$10 monthly
BankSA
More details

3.34%

Fixed - 4 years

$864

4.68%

$10 monthly
BankSA
More details

3.39%

Fixed - 4 years

$700

4.68%

$395 annually
BankSA
More details

4.55%

Variable

$864

4.72%

$10 monthly
BankSA
More details

2.89%

Fixed - 2 years

$700

4.79%

$395 annually
BankSA
More details

3.54%

Fixed - 5 years

$864

4.80%

$10 monthly
BankSA
More details

2.84%

Fixed - 2 years

$864

4.87%

$10 monthly
BankSA
More details

4.83%

Variable

$764

4.88%

$0
BankSA
More details

3.54%

Fixed - 4 years

$864

4.93%

$10 monthly
BankSA
More details

4.24%

Fixed - 5 years

$864

4.93%

$10 monthly
BankSA
More details

3.04%

Fixed - 3 years

$864

4.94%

$10 monthly
BankSA
More details

3.09%

Fixed - 1 year

$700

4.96%

$395 annually
BankSA
More details

3.84%

Fixed - 3 years

$864

4.96%

$10 monthly
BankSA
More details

4.24%

Fixed - 4 years

$864

5.00%

$10 monthly
BankSA
More details

3.84%

Fixed - 2 years

$864

5.06%

$10 monthly
BankSA
More details

4.67%

Variable

$0

5.07%

$395 annually
BankSA
More details

3.04%

Fixed - 1 year

$864

5.09%

$10 monthly
BankSA
More details

3.04%

Fixed - 2 years

$864

5.13%

$10 monthly
BankSA
More details

3.54%

Fixed - 5 years

$800

5.17%

$14 monthly
BankSA
More details

3.84%

Fixed - 1 year

$864

5.18%

$10 monthly
BankSA
More details

5.12%

Variable

$864

5.29%

$10 monthly
BankSA
More details

5.14%

Variable

$864

5.31%

$10 monthly
BankSA
More details

3.54%

Fixed - 4 years

$800

5.34%

$14 monthly
BankSA
More details

3.24%

Fixed - 1 year

$864

5.36%

$10 monthly
BankSA
More details

3.04%

Fixed - 3 years

$800

5.39%

$14 monthly
BankSA
More details

5.41%

Variable

$864

5.58%

$10 monthly
BankSA
More details

3.04%

Fixed - 2 years

$800

5.63%

$14 monthly
BankSA
More details

3.24%

Fixed - 1 year

$800

5.92%

$14 monthly
BankSA
More details

5.98%

Variable

$800

6.20%

$14 monthly
BankSA
More details

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.

Learn more about BankSA

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

How can I calculate interest on my home loan?

You can calculate the total interest you will pay over the life of your loan by using a mortgage calculator. The calculator will estimate your repayments based on the amount you want to borrow, the interest rate, the length of your loan, whether you are an owner-occupier or an investor and whether you plan to pay ‘principal and interest’ or ‘interest-only’.

If you are buying a new home, the calculator will also help you work out how much you’ll need to pay in stamp duty and other related costs.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

What is the best interest rate for a mortgage?

The fastest way to find out what the lowest interest rates on the market are is to use a comparison website.

While a low interest rate is highly preferable, it is not the only factor that will determine whether a particular loan is right for you.

Loans with low interest rates can often include hidden catches, such as high fees or a period of low rates which jumps up after the introductory period has ended.

To work out the best value for money, have a look at a loan’s comparison rate and read the fine print to get across all the fees and charges that you could be theoretically charged over the life of the loan.

What is the difference between fixed, variable and split rates?

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.

What is an interest-only loan? How do I work out interest-only loan repayments?

An ‘interest-only’ loan is a loan where the borrower is only required to pay back the interest on the loan. Typically, banks will only let lenders do this for a fixed period of time – often five years – however some lenders will be happy to extend this.

Interest-only loans are popular with investors who aren’t keen on putting a lot of capital into their investment property. It is also a handy feature for people who need to reduce their mortgage repayments for a short period of time while they are travelling overseas, or taking time off to look after a new family member, for example.

While moving on to interest-only will make your monthly repayments cheaper, ultimately, you will end up paying your bank thousands of dollars extra in interest to make up for the time where you weren’t paying off the principal.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

Interest Rate

Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.

What is a fixed home loan?

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

How do I know if I have to pay LMI?

Each lender has its own policies, but as a general rule you will have to pay lender’s mortgage insurance (LMI) if your loan-to-value ratio (LVR) exceeds 80 per cent. This applies whether you’re taking out a new home loan or you’re refinancing.

If you’re looking to buy a property, you can use this LMI calculator to work out how much you’re likely to be charged in LMI.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor. 

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

How often is your data updated?

We work closely with lenders to get updates as quick as possible, with updates made the same day wherever possible.