Basic Home Loan (Principal and Interest) (New Customer)
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Establishment fee waived for Basic home loans greater than $150,000- Last updated on 02 Apr 2020
Home Value Home Loan
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Get a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
2.65%
Variable
2.66%
Home Value Loan
2.74%
Variable
2.76%
$1,019
based on $300,000 loan amount for 25 years
Pros
- No ongoing fees
- Suitable for low deposits
- Parents can sign as guarantor
- Extra repayments + redraw services
Cons
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Maximum LVR 95% | Interest rate structure Variable |
Borrowing range $150k - $100m | Total Repayments $366,840 |
Principal & interest | Interest only |
Loan term range 1 - 30 years | Offset account No |
Extra repayments Unlimited extra repayments | Redraw facility Redraw fee: $0 |
Allows split interest | Suitable For Owner Occupiers |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Estimated upfront fees $264 | Application fee $0 |
Settlement fee $100 | Valuation fee $164 |
Legal fee $0 | Ongoing fee $0 |
Discharge fee $350 | Property Type |
SMSF Trustee | Minimum SMSF Amount |
- Special Establishment fee waived for Basic home loans greater than $150,000
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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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FAQs
The standard variable rate (SVR) is the interest rate a lender applies to their standard home loan. It is a variable interest rate which is normally used as a benchmark from which they price their other variable rate home loan products.
A standard variable rate home loan typically includes most, if not all the features the lender has on offer, such as an offset account, but it often comes with a higher interest rate attached than their most ‘basic’ product on offer (usually referred to as their basic variable rate mortgage).
When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.
We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.