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Media Release
BankSA decreases variable home loan rates
Wednesday, 2 October 2019
BankSA has today announced it will decrease variable home loan interest rates by .15% per annum (p.a).
The following interest rate changes will come into effect on Wednesday 16 October 2019.
- Variable home loan (owner occupier) rate has been reduced by .15% p.a. to 4.80% p.a. for customers with principal and interest repayments.
- Variable residential investment property loan reduced by .15% p.a. to 5.37% p.a. for customers with principal and interest repayments.
- Variable home loan (owner occupier) rate reduced by .15% p.a. to 5.39% p.a. for customers with interest only repayments.
- Variable residential investment property loan rate reduced by .15% p.a. to 5.66% p.a. for customers with interest only repayments.
For an owner-occupier customer with a standard variable home loan of $400,000 on principal and interest repayments, this reduction could result in a saving of $432 each year.
Customers who would like information on this rate change are encouraged to contact their local branch or call 13 13 76.
Media contact:
Josiane Abboud