How to minimise home loan fees

Minimise fees
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5 steps to minimising home loan fees

Often minimising fees is all about looking at your banking as a whole to make sure you've got the right loan to fit your lifestyle and the way you bank.

Review your home loan – is it still right for you?

Compare home loan features to make sure you've got the right loan. You may be paying for features you don't need. Call us on 13 13 76 or drop by a branch if you want to talk about what loan suits you best.
See a complete list of Home Loan fees (PDF 587KB) and compare Home Loan features.

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Monitor your home loan to avoid exception fees

Exception fees (Payment Dishonour Fees, Payment Honour Fees, Arrears letter fees, etc) are charged when you haven't kept enough money in your nominated account to cover your home loan repayment.
Check your nominated account regularly using Internet or Phone Banking to ensure that you've got the funds to cover your loan repayments. You can also call us on 13 13 76 or drop by any BankSA branch. For Portfolio Loan, get a balance enquiry at any BankSA ATM or set up SMS and Email Alerts.
Exception fees are outlined in your loan Terms & Conditions. It's best to know what they are in order to avoid them:
- Payment Dishonour Fee ($9 per direct debit) – payment whenever a direct debit order for payment from another institution is dishonoured
- Arrears Letter Fee ($9) – when you receive an arrears letter alerting you to an overdue amount that must be paid
- On a Portfolio Loan, Payment Honour Fee and Payment Dishonour Fee ($9 per transaction) – Payment Honour Fee is for each transaction we honour which exceeds your available credit, and Payment Dishonour Fee is whenever a direct debit order for payment from another institution is dishonoured.

Save on transaction account fees

Redraw electronically

Making additional repayments on your variable rate home loan is a great way to save on interest, while still having the flexibility to access your money with Redraw
Save on fees if you Redraw via Internet or Phone Banking. Fill in the Phone and Internet Redraw Registration form (PDF 612KB) and you'll be ready to Redraw when you need to.

Thinking about switching? Want some advice?

Talk to an expert

Speak to one of our home loan experts on 13 13 76 to learn about ways that we can help you manage your finances, including switch between fixed and variable rates.

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A BankSA home loan expert will call you back at a time that suits you, Monday to Saturday. Request a call back

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You can also drop by a BankSA branch to apply.

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Important information

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.