Variable home loan with offset

Our full-featured variable rate loan, with an offset account and redraw.

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Rates
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Why choose a Standard Variable Rate Home Loan?

Redraw freedom

Make unlimited additional repayments to pay off your loan sooner, then redraw the funds if you ever need to¹.

Offset account

Full interest offset facility to help you save on interest on your home.

Option to split your loan

Make part of your loan a fixed interest rate and part a variable interest rate.

Family Pledge

You could use the equity in a family member's home to guarantee part of your home loan. Learn more

Take a break from repayments

You may be able to pause or reduce your repayments for a set period (keep in mind after the break your repayments may be higher for the rest of your loan term).

Bundle & save

Get a 1.31% p.a. packaged home loan rate discount and no annual credit card fee, for an all-in-one $395 annual package fee^#.

New Owner Occupier Loans

7.39% p.a
With LVR up to 70%

Standard Variable Rate with package^#. Rate includes 0.10% p.a. discount for LVR⁺ up to 70% (your deposit is min 30% of the property value). New loans on Principal & Interest repayments³. T&Cs apply.
7.73% p.a
Comparison rate*

New Residential Investment Loans

7.96% p.a
With LVR up to 70%

Standard Variable Rate with package^#. Rate includes 0.10% p.a. discount for LVR⁺ up to 70% (your deposit is min 30% of the property value). New loans on Principal & Interest repayments³. T&Cs apply.
8.29% p.a
Comparison rate^*

Fees

$600 Lending establishment fee²
$8 Monthly loan account fee
OR
$0 with Advantage Package^#

Get $2K cashback when you refinance to us

Switch your loan to BankSA and you could lower your repayments, or pay off your your loan faster.

Apply from 1st September 2023. Settlement must occur within 120 days of applying. Offer may be varied or withdrawn at any time. Owner Occupier (P&I repayments) and Residential Investment loans, with LVR up to 80%. Available on home loans with our Advantage Package ($395 annual package fee) and our Basic Home Loan (no annual fee). $200k min loan. Only one $2K cashback offer available per primary applicant within a 12 month period. Excludes refinances from within Westpac Group.^

FAQs

How does the Refinance Cashback offer work?

$2,000 Refinance Cashback per primary applicant for applications received from 1st September 2023. Settlement must occur within 120 days of applying. Offer may be varied or withdrawn at any time. Limit of one $2,000 cashback payment regardless of the number of applications, applicants, properties or loans involved per 12 month period. For joint applications, only one cashback payment will be paid to the primary applicant.

The cashback will be paid into a BankSA transaction account within 60 days of settlement. The transaction account must be in the same name as the home loan account and linked to the home loan at the time of settlement. This account must be kept open for 60 days after settlement.

For the $2,000 cashback offer, tax consequences may arise for investors and you should seek independent advice.

What does ‘refinance’ and ‘Owner Occupier’ mean?

I’m an owner-occupier: can I get $2K cashback?

I’m an Investor: can I get $2K cashback?

How do I know if I’m eligible?

For the $2,000 Cashback offer, you’ll need to meet these conditions:

It’s an Investment home loan on either Interest Only or Principal & Interest repayments, or an Owner Occupier home loan with Principal & Interest repayments
It’s either our Basic Home Loan, or a Fixed or Variable Rate home loan under our Advantage Package^# ($395 annual package fee and full terms and conditions apply)
Limit of one $2,000 cashback payment regardless of the number of applications, applicants, properties or loans involved per 12 month period. For joint applications, only one cashback payment will be paid to the primary applicant.
Loan size needs to be at least $200k.
LVR up to 80%
Apply from 1st September 2023. Settlement must occur within 120 days of applying. Offer may be varied or withdrawn at any time.

Are there any exclusions?

Yes there are some. The $2,000 Cashback offer:

Excludes Owner Occupier home loans with Interest Only repayments
Excludes Portfolio Loans and residential lending originated under family or company trusts
Excludes home loan switches and internal refinances within the Westpac Group, including St.George, Bank of Melbourne, Westpac, BankSA and RAMS
Excludes loans with an LVR above 80%
Only one $2K cashback offer per primary applicant within a 12 month period
For joint applications, only one cashback payment will be paid to the primary applicant.
Excludes any loan amount below $200k

When does the 12 month period commence?

What is FASTRefi®?

FASTRefi®^{^^} is faster and easier than the standard refinancing process - so you could access your new BankSA home loan in days, as opposed to weeks.

Sooner. Get your new funds faster with FASTRefi®.
Easy. We handle the process for you.
No extra fees. FASTRefi® costs you no more than a standard refinance.
More certainty. Feel confident about when your new loan will be ready.
Trusted. Thousands of people use FASTRefi® monthly.

Your guide to FASTRefi® (PDF 798KB)

How does FASTRefi® work?

Here's a summary of our FASTRefi® process:

Step 1 – apply

Apply for your home loan as normal.
Your BankSA lender calculates your estimated payout: they'll let you know if you qualify for FASTRefi®.

Step 2 – sign your loan documents

Once you’ve returned your signed BankSA loan documents and shown evidence of your current balance, relax – your work is done!

Step 3 – we'll open your BankSA loan

We'll send the funds electronically to your other lender, paying out your old loan – your BankSA loan is ready.
You may be charged an additional settlement agent fee by your old lender (ANZ, CBA, Citibank, NAB and Westpac tend not to charge this fee).

Step 4 – we'll settle your old loan

After settlement, we'll complete the recovery of your title and registration.
Any leftover buffer is refunded to you. Or if there's a shortfall, you'll need to cover it.

Your guide to FASTRefi® (PDF 798KB)

Do I qualify for FASTRefi®?

FASTRefi® is available with most of our residential variable and fixed interest rate home loans, and investment property loans.

A BankSA lender will let you know if your loan qualifies for FASTRefi® – just apply online in as little as 20 minutes, and they’ll follow up with a call.

What if my home loan isn’t eligible?

Don’t worry, your BankSA home loan’s well worth waiting for – and we’ll do our very best to fast-track settlement using our standard refinance process. Switching to our fixed home loan? Our rate-lock option lets you lock in your rate at the time your loan is approved.

It's easy to get started

Save time, apply online

Apply online for a home loan, conditional approval or to switch to us.

You could get approval in 1 business day
Dedicated lender will support you from application to settlement.

Get started Get started

Learn more about applying

Book an appointment

A member of our team will be in touch at a time that suits you.

They’ll answer your questions and guide you through your next steps.
A lender can start your application for you.

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Calculator & tools

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Compare our home loans

See at a glance how features differ by product.

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Home loan interest rates

View our latest interest rates for a range of BankSA home loans to suit your needs. Compare our variable and fixed interest rates for owner occupiers and investors and options for principal and interest or interest only repayments.

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Basic variable

No frills, with redraw

Fixed rate

Lock in your rate

Our home loans

Important information

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.

Loan Accounts – Charges for specific services and accounts (PDF 55KB)

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 offers and promotions for investors and customers should seek independent advice on any taxation matters.

Tax consequences may arise from offers and promotions for investors and customers should seek independent advice on any taxation matters.

^*Comparison Rate: The comparison rate is based on a loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

^**Available for Owner Occupier and Investment Property Loans with Principal & Interest and Interest only repayments.

⁺LVR stands for the initial loan to value ratio. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won’t change during the life of the loan as the LVR changes.

^#Advantage Package: Terms & Conditions (PDF 444KB) apply. A $395 annual package fee applies and is payable from an eligible BankSA transaction account. Before deciding to acquire a BankSA transaction account, read the terms & conditions, and consider if the product is right for you.

^{^^} FASTRefi®: Only available: on eligible new BankSA home loans; on eligible home loans with your current lender; if your other lender is on the FASTRefi® process list of eligible financial institutions. Your other lender may charge you an additional settlement agent fee, as well as fixed rate home loan break costs. Loan suitability for the FASTRefi® product is determined by BankSA in conjunction with the insurance product guidelines. FASTRefi® is provided by First American Title Insurance Company of Australia Pty Limited ABN 64 075 279 908 Australian Financial Services Licence 263876, trading as First Title, an Australian general insurance company authorised by the Australian Prudential Regulation Authority. Conditions, fees and charges apply. Lending criteria apply to approval of credit products. This info doesn’t take your personal objectives, circumstances or needs into account, so please consider FASTRefi’s® appropriateness and read the disclosure documents for your selected loan, including the Terms and Conditions, before deciding.

^^^Basic Home Promotional Rates:

Basic Home Loan Promotional Principal and Interest Rate: This offer is only available for new Owner Occupier Basic Home Loan applications with Principal and Interest repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Residential Investment Basic Principal and Interest Promotional Rate: This offer is only available for new Residential Investment Basic Home Loan applications with Principal and Interest repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Basic Home Loan Promotional Interest Only Rate: This offer is only available for new Owner Occupier Basic Home Loan applications with Interest Only repayments received from 26/10/2020. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Residential Investment Basic Interest Only Promotional Rate: This offer is only available for new Residential Investment Basic Home Loan applications with Interest Only repayments received from 24/11/2023. Discount applies to our Basic Home Loan offer for the life of the loan. Excludes internal refinances and switches within the Westpac Group, which includes Westpac, St.George, Bank of Melbourne, BankSA and RAMS. This offer may be varied or withdrawn at any time. Interest rates subject to change.

Redraw and repayment reduction are subject to bank approval.
Other upfront fees and costs may apply
Rate includes 1.31% p.a. standard Advantage Package discount, applicable for loans with total borrowing amounts above $100,000.
Rate Lock: BankSA will apply the fixed rate available at the loan settlement date or the date the fixed rate term commences, unless you lock a fixed rate in on your loan using our Rate Lock feature. The fixed rate lock-in fee is 0.15% of your loan amount or $500, whichever is higher, capped at $1000 for loans up to $2M. For loans above $2M, the fixed rate lock-in fee is 0.15% of your loan amount. At the end of your fixed rate term, the interest rate will convert to our standard variable interest rate, unless a new fixed rate term’s selected and then the fixed rate is determined on the day the fixed term ends.