BankSA

Portfolio Loan

Advertised Rate

5.98%

Variable

Comparison Rate*

6.20%

Maximum LVR
Less than 90%
Real Time Rating™

1.04

/ 5
Monthly Repayment

$1,795

based on $300,000 loan amount for 25 years

Advertised Rate

5.98%

Variable

Comparison Rate*

6.20%

Maximum LVR
Less than 90%
Real Time Rating™

1.04

/ 5
Monthly Repayment

$1,795

based on $300,000 loan amount for 25 years

Calculate repayment for BankSA product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,795

based on $300,000 loan amount for 25 years

Based on your details, BankSA is available through brokers

Collins Mayaki

4.8
87 Reviews

Get expert advice from a home loan specialist.

Collins is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 31 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Glenn Rowan

5.0
29 Reviews

Get expert advice from a home loan specialist.

Glenn is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 33 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Gali Alon

5.0
13 Reviews

Get expert advice from a home loan specialist.

Gali is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 4 hours

Our brokers call during business hours between 9.00am to 6.00pm.

Pros and Cons

Pros and Cons

    • No extra repayments
    • No redraw and no offset
    • Ongoing fee
    • Discharge fee at end of loan

    BankSA Features and Fees

    BankSA Features and Fees

    Details

    Maximum LVR

    Less than 90%

    Total Repayments

    Next LVR

    Interest rate type

    Variable

    Borrowing range

    Suitable for

    Investors, Line of Credit

    Loan term range

    1 - 30 years

    Principal & interest

    Interest only

    Applicable states

    ACT, NSW, NT, QLD, SA, TAS, VIC, WA

    Make repayments

    Fortnightly, Monthly, Weekly

    Features

    Extra repayments

    Not Allowed

    Redraw facility

    Split interest facility

    Loan portable

    Repayment holiday available

    Allow guarantors

    Available for first home buyers

    Fees

    Total estimated upfront fees

    $800

    Application fee

    $700

    Valuation fee

    $0

    Settlement fee

    $100

    Other upfront fee

    $0

    Ongoing fee

    $14 monthly

    Discharge fee

    $350

    Application method

    Online

    Phone

    In branch

    Pros and Cons

      • No extra repayments
      • No redraw and no offset
      • Ongoing fee
      • Discharge fee at end of loan

      BankSA Features and Fees

      Details

      Maximum LVR

      Less than 90%

      Total Repayments

      Next LVR

      Interest rate type

      Variable

      Borrowing range

      Suitable for

      Investors, Line of Credit

      Loan term range

      1 - 30 years

      Principal & interest

      Interest only

      Applicable states

      ACT, NSW, NT, QLD, SA, TAS, VIC, WA

      Make repayments

      Fortnightly, Monthly, Weekly

      Features

      Extra repayments

      Not Allowed

      Redraw facility

      Split interest facility

      Loan portable

      Repayment holiday available

      Allow guarantors

      Available for first home buyers

      Fees

      Total estimated upfront fees

      $800

      Application fee

      $700

      Valuation fee

      $0

      Settlement fee

      $100

      Other upfront fee

      $0

      Ongoing fee

      $14 monthly

      Discharge fee

      $350

      Application method

      Online

      Phone

      In branch

      BankSA is available through brokers

      FAQs

      What is a specialist lender?

      Specialist lenders, also known as non-conforming lenders, are lenders that offer mortgages to ‘non-vanilla’ borrowers who struggle to get finance at mainstream banks.

      That includes people with bad credit, as well as borrowers who are self-employed, in casual employment or are new to Australia.

      Specialist lenders take a much more flexible approach to assessing mortgage applications than mainstream banks.

      Mortgage Calculator, Loan Purpose

      This is what you will use the loan for – i.e. investment. 

      Mortgage Calculator, Repayment Type

      Will you pay off the amount you borrowed + interest or just the interest for a period?

      What is an ombudsman?

      An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

      These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.

      What factors does Real Time Ratings consider?

      Real Time RatingsTM uses a range of information to provide personalised results:

      • Your loan amount
      • Your borrowing status (whether you are an owner-occupier or an investor)
      • Your loan-to-value ratio (LVR)
      • Your personal preferences (such as whether you want an offset account or to be able to make extra repayments)
      • Product information (such as a loan’s interest rate, fees and LVR requirements)
      • Market changes (such as when new loans come on to the market)

      How much are repayments on a $250K mortgage?

      The exact repayment amount for a $250,000 mortgage will be determined by several factors including your deposit size, interest rate and the type of loan. It is best to use a mortgage calculator to determine your actual repayment size.

      For example, the monthly repayments on a $250,000 loan with a 5 per cent interest rate over 30 years will be $1342. For a loan of $300,000 on the same rate and loan term, the monthly repayments will be $1610 and for a $500,000 loan, the monthly repayments will be $2684.

      Why is it important to get the most up-to-date information?

      The mortgage market changes constantly. Every week, new products get launched and existing products get tweaked. Yet many ratings and awards systems rank products annually or biannually.

      We update our product data as soon as possible when lenders make changes, so if a bank hikes its interest rates or changes its product, the system will quickly re-evaluate it.

      Nobody wants to read a weather forecast that is six months old, and the same is true for home loan comparisons.

      Savings over

      Select a number of years to see how much money you can save with different home loans over time.

      e.g. To see how much you could save in two years by switching mortgages,  set the slider to 2.

      What happens to your mortgage when you die?

      There is no hard and fast answer to what will happen to your mortgage when you die as it is largely dependent on what you have set out in your mortgage agreement, your will (if you have one), other assets you may have and if you have insurance. If you have co-signed the mortgage with another person that person will become responsible for the remaining debt when you die.

      If the mortgage is in your name only the house will be sold by the bank to cover the remaining debt and your nominated air will receive the remaining sum if there is a difference. If there is a turn in the market and the sale of your house won’t cover the remaining debt the case may go to court and the difference may have to be covered by the sale of other assets.  

      If you have a life insurance policy your family may be able to use some of the lump sum payment from this to pay down the remaining mortgage debt. Alternatively, your lender may provide some form of mortgage protection that could assist your family in making repayments following your passing.

      How can I get a home loan with no deposit?

      Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

      Mortgage Calculator, Interest Rate

      The percentage of the loan amount you will be charged by your lender to borrow. 

      What is a building in course of erection loan?

      Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

      Monthly Repayment

      Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.

      Mortgage Balance

      The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.

      Mortgage Calculator, Repayments

      The money you pay back to your lender at regular intervals. 

      Does Real Time Ratings' work for people who already have a home loan?

      Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

      How will Real Time Ratings help me find a new home loan?

      The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

      That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

      Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

      What is the flexibility score?

      Today’s home loans often try to lure borrowers with a range of flexible features, including offset accounts, redraw facilities, repayment frequency options, repayment holidays, split loan options and portability. Real Time Ratings™ weights each of these features based on popularity and gives loans a ‘flexibility score’ based on how much they cater to borrowers’ needs over time. The aim is to give a higher score to loans which give borrowers more features and options.

      Remaining loan term

      The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

      What is bridging finance?

      A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

      Usually, these loans have higher interest rates and a shorter repayment duration.