Interest only home loan repayments
Need a cash flow boost?
Apply for interest only repayments
Already have a BankSA home loan or looking for a new mortgage?
You can apply for interest only repayments on variable or fixed rate loans for both existing and new home loans:
Interest only repayments is for up to 5 years over the life of the loan.
Interest only is available for up to 10 years over the life of the loan.
Apply for a new loan, or if you already have a loan, give us a call on 1300 304 660, 7:30am-7:30pm Mon-Fri and 8:30am-5:30pm Sat.
Interest only term expiring soon?
Benefits for investors
Interest only home loans come into their own when investing in property. You may be able to negatively gear your investment property by offsetting the interest repayments against the rental income and maintenance costs. Investment loans give you up to 10 years on interest only repayments freeing up funds for ongoing property maintenance or buying into additional investment properties.
Extra home loan savings
Set up an offset account
By adding an offset account to your variable home loan, you can reduce the interest payable.
Access extra repayments
Reduce your home loan balance by making extra repayments that you can redraw at any time.
Make payments more often
Pay off your loan sooner by changing repayments from monthly to weekly or fortnightly.
With interest only repayments, you’ll only repay the interest portion of the home loan without repaying the loan balance. While with principal and interest repayments, you’ll repay both the interest and the loan balance, meaning you'll pay back your loan sooner.
Conditions, credit criteria, fees and charges apply. Based on BankSA’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.
The information 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.
Tax consequences may arise from promotions for investors and customers should seek independent advice on any taxation matters.
*The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. You must seek independent tax advice to determine taxation implications that are applicable to your personal circumstances.