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Basic Home Loan

Enjoy no monthly fees and a lower interest rate with a Basic Home Loan

  • $500 establishment fee
  • A basic, no frills home loan with a lower variable interest rate1
  • $0 monthly service fee· Flexible repayment options
  • Make extra payments, with the option to request a redraw of your funds if you need them2
Apply online

A BankSA home loan expert will contact you at your preferred time.

A basic no frills home loan

 

Lower variable interest rate

 

Choice of loan term & repayments

  • Choice of term up to 30 years for principal and interest repayments or up to 15 years for interest based repayments

 

For properties or vacant land

  • Available to owners and investors for property or vacant land purchase

 

Great features!

  • Features include reducing or avoiding Lender's Mortgage Insurance3  when a family member provides additional security for part of your loan, redraw2, repayment pause and more!

 

Compare

 

Discover your borrowing power!

Fees
Establishment fee $500
Monthly administration fee $0
Other fees and charges apply. See a complete list of fees for loan accounts.
Interest rates
Term Annual rate Comparison rate4
Basic Home Loan Rate  p.a.  p.a.
Basic Home Loan Promotional Rate
  p.a.  p.a.
Repayment options for a Basic Home Loan
Frequency Choose either:
  • Principal and interest repayments for up to 30 years, or
  • Interest based repayments for up to 15 years
  Weekly Fortnightly Monthly
Loans with Principal and interest repayments      
Loans with Interest based      
Learn more:
Additional payments
  • Make additional payments at any time at no cost
  • Calculate what you could save by making extra payments
Automatic repayments
  • Set up convenient automatic repayments from your nominated bank account.
  • Enjoy no monthly transaction account service fee by having your home loan repayments deducted from a Complete Freedom Account.
Choose the features you need
Redraw
Family Pledge
  • With Family Pledge you can reduce or even avoid paying Lender's Mortgage Insurance5 when a parent or family member guarantees part of your home loan by using his or her own home's equity to provide additional security for a portion of your loan amount
Repayment Pause
Deposit Protect Bond
  • Use a Deposit Protect Bond6 instead of paying a cash deposit immediately, and keep earning interest on your deposit money right up until settlement
  • Also ideal when using equity in an existing property to finance your purchase

Apply online

Apply online. It takes just 15 minutes!

Enquire online

Enquire now and a BankSA home loan expert will call at your preferred time.

Call us

13 13 76. To talk with a BankSA home loan expert, say "New Mortgage" when prompted.

Visit a branch

Find your nearest branch

What you'll need to apply

 

Tips

How to apply

Important information

BankSA's normal lending criteria apply. Conditions and fees apply and may change.

Conditions and fees apply. BankSA, a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 issues the products on this website. The advice on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, please consider if it's right for you. If you need help, call 13 13 76 Monday to Saturday 7.30am - 7.30pm.

* This offer is only available to SA and NT based customers.

1 As compared to our standard variable interest rate.
2 Redraw requests and repayment pause are subject to our approval. Fees apply.
3 Lender’s Mortgage Insurance is generally payable on loans exceeding 80% of the value of your property
4 The comparison rate is based on a loan of $150,000 over a 25 year term. 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.
5 Lender’s Mortgage Insurance is generally payable on loans exceeding 80% of the value of your property.
6 BankSA Deposit Protect Bonds are guaranteed by Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 and are distributed by BankSA – A Division of Westpac Banking Corporation.