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BankSA Personal Loans

BankSA personal loans pack a lot of purpose in one lump sum – debt consolidation, home renovation, holiday and travel, plus other big-ticket expenses.

Scroll down now, compare offerings, and run the numbers through our BankSA personal loan calculator to see how this product stacks up against your budget and needs.

Compare BankSA Personal Loans

Bring your next dream purchase a little closer with a Secured Personal Loan.

Overview

Minimum loan amount$3,000

Maximum loan amount$80,000

Minimum term (years)1 Year

Maximum term (years)5 Years

Personal loan interest rates (base)8.49%

Personal loan comparison rate9.60%

Monthly repayments (approx)$322

Total repayments (approx)$11,597

Total interest repayments (approx)$1,597

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$0

Application / establishment fee$195

GO TO BankSA

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$150

Missed payment fee$9

For debt consolidation?Yes

Sponsored No

Telephone13 13 76

Data accurate as of6/11/2018

GO TO BankSA

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Whether you want predictable repayments or the flexibility to repay more, you can tailor our Unsecured Personal Loan how you want it.

Overview

Minimum loan amount$2,000

Maximum loan amount$40,000

Minimum term (years)1 Year

Maximum term (years)5 Years

Personal loan interest rates (base)12.99%

Personal loan comparison rate14.06%

Monthly repayments (approx)$337

Total repayments (approx)$12,142

Total interest repayments (approx)$2,142

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$0

GO TO BankSA

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$150

Missed payment fee$9

For debt consolidation?Yes

Sponsored No

Telephone13 13 76

Data accurate as of6/11/2018

GO TO BankSA

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Whether you want predictable repayments or the flexibility to repay more, you can tailor our Unsecured Personal Loan how you want it.

Overview

Minimum loan amount$2,000

Maximum loan amount$40,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)12.99%

Personal loan comparison rate14.06%

Monthly repayments (approx)$337

Total repayments (approx)$12,142

Total interest repayments (approx)$2,142

Rate typeVariable

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$0

GO TO BankSA

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$150

Missed payment fee$9

For debt consolidation?Yes

Sponsored No

Telephone13 13 76

Data accurate as of6/11/2018

GO TO BankSA

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Bring your next dream purchase a little closer with a Secured Personal Loan.

Overview

Minimum loan amount$3,000

Maximum loan amount$80,000

Minimum term (years)1 Year

Maximum term (years)7 Years

Personal loan interest rates (base)12.74%

Personal loan comparison rate13.81%

Monthly repayments (approx)$342

Total repayments (approx)$12,335

Total interest repayments (approx)$2,335

Rate typeFixed

Secured or unsecuredSecured

Encumberance/REVVS check fee$0

Application / establishment fee$195

GO TO BankSA

Other Fees & Information

Monthly fee$12

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$150

Missed payment fee$9

For debt consolidation?Yes

Sponsored No

Telephone13 13 76

Data accurate as of6/11/2018

GO TO BankSA

Hide info -

Pay ZERO fees^ on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $8,000-$50,000. What’s more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. ^Charges such as default or enforcement costs may apply if you do not comply with the terms of your loan. Comparison rate can vary from 5.95% to 17.95%

Overview

Minimum loan amount$8,000

Maximum loan amount$50,000

Minimum term (years)1.5 years

Maximum term (years)7 Years

Personal loan interest rates (base)5.95%

Personal loan comparison rate5.95%

Monthly repayments (approx)$303

Total repayments (approx)$10,943

Total interest repayments (approx)$943

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$0

GO TO Now Finance

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$35

For debt consolidation?Yes

Sponsored Yes

Telephone1300 275 669

Data accurate as of23/02/2021

GO TO Now Finance

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OurMoneyMarket offer competitive low rates on loans up to $50,000, plus free extra repayments and fee-free redraw facility.

Overview

Minimum loan amount$2,001

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)7 Years

Personal loan interest rates (base)6.29%

Personal loan comparison rate6.64%

Monthly repayments (approx)$313

Total repayments (approx)$11,274

Total interest repayments (approx)$1,274

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$250

GO TO OurMoneyMarket

Other Fees & Information

Monthly fee$0

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityYes

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$25

For debt consolidation?Yes

Sponsored Yes

Telephone1300 990 115

Data accurate as of12/04/2021

GO TO OurMoneyMarket

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Fast and easy online application. Money can be in your account same-day. Flexible repayments with no early exit fees. Comparison interest rates from 7.64% to 13.32% p.a.

Overview

Minimum loan amount$2,100

Maximum loan amount$50,000

Minimum term (years)1 year

Maximum term (years)5 years

Personal loan interest rates (base)6.25%

Personal loan comparison rate7.64%

Monthly repayments (approx)$320

Total repayments (approx)$11,547

Total interest repayments (approx)$1,547

Rate typeFixed

Secured or unsecuredUnsecured

Encumberance/REVVS check fee$0

Application / establishment fee$495

GO TO MoneyMe

Other Fees & Information

Monthly fee$10

Quarterly fee$0

Annual fee$0

Other fees$0

Redraw facilityNo

Repayment scheduleFortnightly/Monthly

Early repayments allowedYes

Early repayments fee$0

Missed payment fee$15

For debt consolidation?Yes

Sponsored Yes

Telephone1300 329 037

Data accurate as of03.03.2021

GO TO MoneyMe

Hide info -

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Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 20.89% p.a. Total interest repayments vary between $1,387 and $4,165 over the life of the loan. *Comparison rate is based on an unsecured loan of $10,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

Need help choosing the right loan?

Get a multi award-winning personal loans broker, to help select the right loan for you.

Australia-wide personal loans completed online or via the telephone (no need for any face-to-face meetings).

Monday to Friday, 9am – 6pm AESTs

An account manager will contact you within 3 hours of your enquiry.

Call 1300 884 355
What type of loan are you looking for?

BankSA personal loans – Get the best of South Australian finance

BankSA has quite a solid customer base, especially in South Australia, where one in four locals have signed up for its financial products and services. Behind the scenes, the lender is a division of Westpac Banking (following a merger) and has a history dating back to 1848. Though it has many offerings like credit cards and home loans, this guide only considers BankSA personal loans, one of its popular products.

BankSA personal loan specs

  • Loan amounts – $2,000 -$80,000
  • Loan terms – 1-7 years
  • Interest rate range – From 7.49%
  • Interest rate type – Fixed or variable rate
  • Pros – Quick online application, especially if you’re a member. You can also borrow up to $80,000, which gives you more flexibility.
  • Cons – BankSA charges establishment fees, ongoing monthly fees, and redraw fees which adds up to more finance costs.

Types of personal loans offered by BankSA

  • Unsecured personal loan. Interest rates start from 9.99% (fixed) or 12.99% (variable). You can borrow between $2K and $50K without using an asset as security. Since it’s a general-purpose loan, it’s suited for things like debt consolidation, weddings, or other things like school fees and unexpected costs.
  • Secured personal loan. Your car guarantees the debt, and this lowers your interest rate. Rates start from 7.49% (fixed) or 12.74% (variable), and you can borrow between $3K and $80K. The money can also be used on anything, especially new or used car purchases. Find more details in our BankSA car loan guide.

Fixed rate or variable rate?

Secured and unsecured personal loan options from BankSA both come with a fixed rate or variable rate choice. The main difference between the two is that a fixed rate doesn’t change, so it’s possible to calculate your repayments and budget for the future.

While a variable rate doesn’t give you this security, it allows you to make extra repayments that you can withdraw any time you need them (redraw facility). Fixed rates don’t come with a redraw facility, plus there’s a limit to the extra repayments you can make before break costs apply.

Lastly, fixed rate loans come with terms of 1-5 years, while variable rate loans offer more flexibility with terms of up to 7 years. Repayments can be made weekly, fortnightly, or monthly for both options.

Fees and charges

  • Establishment fee of $195
  • Monthly admin fee of $12
  • $10 per redraw on variable loans
  • Early repayment fee of $150 for an early payoff within the first 12 months
  • Early repayment fee of $100 for an early payoff after the first 12 months
  • Break costs are also applicable to fixed rates. Other fees may also apply, and fees and rates are subject to change.

What else does BankSA offer?

You can also apply for a BankSA personal overdraft. While BankSA personal loans are doled out as a lump sum, a personal overdraft allows you to access funds a bit at a time and according to what you need.

It’s great for unexpected expenses since you don’t have to reapply each time you need extra funds. This product comes with a variable rate of 14.99%, borrowing limits of between $500 and $20,000, and a $5 monthly admin fee.

What you need to qualify

BankSA personal loan criteria require that you:

  • Be at least 18 years old
  • Have a regular and permanent pre-tax income of at least $35,000 per year
  • Be a permanent Australian resident or have confirmed employment if you’re a non-resident

In terms of documentation, you’ll have to provide the following:

  • Income details dating back 3 months (only if you don’t have a BankSA account that receives your pay). This information includes payslips, bank statements, and rental income.
  • Recent tax information if you’re self-employed.
  • Details about your assets, savings, investments, existing liabilities, and regular monthly expenses.

Applying for BankSA personal loans

If you like what you see from BankSA and decide to apply, click “Go to Site” for the personal loan you want. Submitting your application takes only 10 minutes if you’re an existing customer or 20 minutes if you’re new. Remember to double-check your details before you send everything through.

If you’re successful, BankSA will send you a contract that you have to sign before the funds can show up in your bank account.

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