How to minimise home loan fees

With some quick tips, you can learn to minimise your home loan 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 105KB) and compare Home Loan features.

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Monitor your home loan to avoid exception fees

Exception fees (Payment Dishonour Fees, Overdrawn Fee, 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, Overdrawn Fee and Payment Dishonour Fee ($9 per transaction) – Overdrawn 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.

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Thinking about switching? Want some advice?

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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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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.