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  Basic Variable Home Loan

Our lowest variable home loan rate, with redraw and no ongoing fees.
Category: Home Loans  Last Updated July 1, 2024  Effective November 1, 2024

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information Special offer discount of 1.93% p.a. off the Basic Home Loan rate is included in the below rates. The rates include our 0.10% p.a. discount for LVRs+ up to 70%. For Government's home guarantee scheme-backed loans, maximum LVR may differ.
Interest Rate
6.29% PA
Comparison Rate
6.30%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  LVR 70% up to 80%
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.39%, Comparison Rate 6.40%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR above 80%
Minimum: 80.01 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.69%, Comparison Rate 6.70%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Owner Occupied
  LVR up to 70%
  • Lending Rate Type: Variable
  • Interest Rate: 7.29%, Comparison Rate 7.30%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  LVR 70% up to 80%
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.39%, Comparison Rate 7.40%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  LVR up to 70%
  • Lending Rate Type: Variable
  • Interest Rate: 6.54%, Comparison Rate 6.55%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  LVR 70% up to 80%
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.64%, Comparison Rate 6.65%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  LVR above 80%
Minimum: 80.01 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.94%, Comparison Rate 6.95%
  • Repayment Type: Principal And Interest
  • Loan Purpose: Investment
  LVR up to 70%
  • Lending Rate Type: Variable
  • Interest Rate: 6.89%, Comparison Rate 6.90%
  • Repayment Type: Interest Only
  • Loan Purpose: Investment
  LVR 70% up to 80%
Minimum: 70.01 PERCENT Maximum: 80 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 6.99%, Comparison Rate 7.00%
  • Repayment Type: Interest Only
  • Loan Purpose: Investment
  LVR above 80%
Minimum: 80.01 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Variable
  • Interest Rate: 7.29%, Comparison Rate 7.30%
  • Repayment Type: Interest Only
  • Loan Purpose: Investment

 Product Features

  • Other Additional Information: A no frills loan : A home loan with a lower variable interest rate, useful for anyone who doesn't want to pay for features they won't use.
  • Extra Repayments Additional Information: The product includes extra repayment features at no extra cost : Pay off your loan sooner and save on interest.
  • Redraw Additional Information: Redraw facility : If you have made any extra repayments, you have access to redraw them.
  • Other Additional Information: Family Pledge : You could use the equity in a family member's home to help you on your home buying journey and maximise the amount you can borrow
  • Other Additional Information: Take a break from repayments : You may be able to pause or reduce your repayments for a set period (keep in mind after the break your repayments may be higher for the rest of your loan term)
  • Other Additional Information: Substituting a security : You may ask us to accept a new mortgage over other land as a substitute for any mortgage which is security for your loan. We may agree to this if you satisfy any reasonable requirements that we have, such as repaying part of the loan amount. We will require the new mortgage to be provided at the same time that the existing mortgage is discharged. We charge a fee for substituting a mortgage or other security.
  • Other Additional Information: Statements of account : We will send you a statement of your loan account at least every six months or more frequently if you request
  • Other Additional Information: Complete your refinance loan application with FASTRefi. A faster and easier refinancing process compared to the standard way - so you could access your new BankSA home loan in days, as opposed to weeks. Eligibility applies.
  • Fraud Protection Additional Information: The product includes fraud protection features.
  • Guarantor Additional Information: Subject to terms and conditions, this product includes guarantor features.
  • Relationship Management Additional Information: Relationship management is available for eligible customers.

 Product Eligibility

  • Min Age - 18. Additional Information: Applicant should be 18 years or over
  • Residency Status - Should Be An Australian Or New Zealand Citizen(s) Or Permanent Resident(s).

 Bank Fees and Charges

  • Lending Establishment Fee (Upfront), Amount: 0.00.
  • Loan Account Fee (Periodic), Amount: 0.00.
  • Document Processing Fee (Event), Amount: 100.00. Additional Information: The Settlement Processing Fee, is a fee charged as apart of the fees for Loan Establishment. It is the fee charged for the processing of settlement services. These can include document validation, value transaction processing and, conveyancing activities required for mortgage lending settlements.
  • Property Valuer Fee (Variable), Amount: Not Listed.. Additional Information: The Fee starts from $ 164 and the amount payable is dependent on location/value of security property(is)
  • Missed Payment Fee (Event), Amount: 15.00. Additional Information: Fee payable when we send customer an arrears letter relating to an overdue amount
  • Loan Discharge Fee (Event), Amount: 350.00. Additional Information: Per Mortgage
  • Lenders Mortgage Insurance Premium (Variable), Amount: Not Listed.. Additional Information: If your deposit is less than 20% then Lenders Mortgage Insurance is usually required. There may be other circumstances where Lenders Mortgage Insurance is also required. As Lenders Mortgage Insurance reduces bank's risk as a lender when providing a home loan, you may be able to apply for a home loan and get into your home sooner, with a lower deposit. Lenders Mortgage Insurance insures bank for any shortfall in the event that you default on your loan and if the proceeds from the property sale are not enough to pay off the loan in full. The cost of Lenders Mortgage Insurance is calculated as a percentage of the loan amount. The percentage applied will vary depending on a number of factors. Please speak to your lender if you would like to understand this process in more detail. The cost of Lenders Mortgage Insurance premium is passed on to you. We do not receive a commission on Lenders Mortgage Insurance.

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