Student loans
At BankSA we believe that people who lay the foundations for their future through higher study deserve a hand.
Designed to assist SA tertiary students, the BankSA Student Loan is an unsecured personal overdraft that gives you financial backing when you need it most, with the freedom to repay it when you can afford it best.
BankSA Student Loan at a glance.
Preferential interest rate - LOWER than the standard personal loan rate.
NO application fee or ongoing service fees.
Your choice of fortnightly or monthly payments.
Quick approval.
Make voluntary repayments whenever you like with no penalty.
Pay off your loan early with no penalty
Make convenient repayments by automatic deduction at no extra cost.
Apply here (PDF 48.1 KB).
To download the application form, you will need to have the Adobe Acrobat Reader installed on your computer.
If you do not have the Adobe Acrobat Reader, you can download it at the Adobe website.
What can I use the money for?
- Computers, books, fees or any other study-related purpose
Your student loan can be used for any worthwhile purpose which will assist your studies.
- Overseas or interstate travel
Fifth and sixth year medical students can use a student loan for overseas or interstate travel which is related to study.
- Car
Your student loan can also be used to purchase a car, but only in the 12 months after graduation or if you are in the last year of a six year course. If you don't meet this criteria, standard personal loans are available.
How much can I borrow?
You can borrow from $2,000 up to $10,000.The maximum amount you can borrow for a computer is $5,000.
How long do I have to repay the loan?
Terms range from one to four years, with the maximum term for a computer loan being three years. You can choose between monthly or fortnightly repayments of principal and interest. And you can make voluntary repayments whenever you like or pay off your loan early, with no penalty.
The entire loan is to be repaid within the agreed term or within four years of graduation.
Who is eligible?
BankSA Student Loans are available to South Australian full-time and part-time* tertiary students, undertaking approved courses, at South Australian:
- University.
- TAFE -Technical and Further Education.
Your application will be subject to our normal lending criteria.
*Eligible to apply for computer loan only.
When can I apply?
BankSA Student Loans are available for:
Computers -
You can apply anytime during your course.
Other study-related purposes -
You can apply as early as indicated below.
| Length of Course |
When you can apply |
| 3 years |
beginning of the 3rd year |
| 4 years |
beginning of the 2nd year |
| 5 years |
beginning of the 3rd year |
| 6 years |
beginning of the 4th year |
| Apprenticeship |
final year of your course |
| Graduate |
within 12 months of graduating (postgraduate included). |
Need more information?
Call us on 13 13 76 (8am to 8pm).
Apply for your BankSA Student Loan today.
Complete an application form
and drop it into any branch or mail it to (no stamp required):
BankSA
Reply Paid 5399
Student Loans University Branch 120/-
GPO Box 399
ADELAIDE SA 5001
