BankSA opened its doors in South Australia in 1848 as the Savings Bank of South Australia. After humble beginnings as a savings institution and small lender, it has grown to service many of the state’s residents. Now a division of Westpac Banking Corporation, it offers a variety of services, including transaction accounts, credit cards, investment platforms and home and personal loans.

BankSA personal loan repayment calculator

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

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BankSA Personal Loans

BankSA opened its doors in South Australia in 1848 as the Savings Bank of South Australia. After humble beginnings as a savings institution and small lender, it has grown to service many of the state’s residents. Now a division of Westpac Banking Corporation, it offers a variety of services including transaction accounts, credit cards, investment platforms and home and personal loans.

Features of a BankSA personal loan

BankSA offers unsecured and secured personal loans and unsecured personal overdrafts for a variety of purposes, including debt consolidation, car financing, wedding financing and holidays. Approved borrowers can take out loans of between $3000 and $80,000 depending on their loan purpose and serviceability. Both fixed and variable rates are available and the loans come with a number of flexible features, such as redraw facilities, the option to make extra repayments and to make repayments when it suits.

What RateCity says

For a regional lender, BankSA offers a broad range of personal loans to suit a variety of borrowers. Its loans come with a range of flexible features, such as extra repayments, redraw facilities and repayment frequency options that are likely to appeal to many looking for a personal loan.

However, given branches are located in South Australia, the loans may not be suitable for borrowers in different states who value branch access.

Features of a BankSA personal loan

BankSA offers unsecured and secured personal loans and unsecured personal overdrafts for a variety of purposes. Approved borrowers can take out loans of between $3,000 and $80,000 depending on their loan purpose and serviceability. Both fixed and variable rates are available, and the loans come with a number of flexible features, such as redraw facilities, the option to make extra repayments and to make repayments weekly, fortnightly or monthly.

BankSA personal loans can be used for a range of different purposes, including:

  • Debt consolidation
  • Car financing
  • Wedding financing
  • Holidays
  • Investing
  • Wide range of other uses

BankSA personal loans – customer service

Customers looking to contact BankSA customer service can call a personal banking hotline from Monday to Saturday, 8.00am to 8.00pm (AEST).

Other ways to contact BankSA include:

  • Online banking
  • Online live chat
  • Email
  • Phone

Who is eligible for a BankSA personal loan?

To be eligible for a BankSA personal loan, you’ll need to meet the following criteria:

  • Be at least 18 years old  
  • Be an Australian citizen, permanent resident or have a valid visa
  • Be an Australian citizen or permanent resident
  • Use the loan for personal use only

How to apply for a BankSA personal loan?

Applications for a BankSA personal loan can be made online. The process takes around 10 minutes and involves the following  steps:

  • Once you’ve compared and selected a personal loan, apply on the BankSA website
  • Once your application is completed, BankSA will review your application
  • If your application is approved, BankSA will send you a contract which can be accepted online
  • Upon final approval, the funds will be credited to your loan account

At the time of application, you’ll need to provide the following documentation:

  • Proof of identity
  • Proof of income and employment
  • Details of any other financial commitments
  • Contact details for a reference

BankSA personal loans review

For a regional lender, BankSA offers a broad range of personal loans to suit a variety of borrowers. Its loans come with a range of flexible features, such as extra repayment and redraw facilities that are likely to appeal to many looking for a personal loan. Borrowers also have the option of choosing between weekly, fortnightly and monthly repayments.

BankSA personal loans do have flexible features and reasonable rates; it’s worth noting that there are charges for features like redraws and early repayments. In addition, borrowers will pay an application fee, as well as an ongoing monthly loan fee.

A personal loan from BankSA can be used for a wide range of purposes, ranging from debt consolidation to holidays, wedding and buying a car. With a few personal loans on offer, borrowers can choose between fixed or variable interest rates and a secure or unsecured loan option.

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