Skip to main content Skip to main navigation Skip to accessibility page Skip to search input

Why refinance your home loan with us?

Look for a better rate
Refinancing your home loan could help you save on interest with a lower variable or fixed interest rate.
Unlock cashback
Eligible customers could get $3,000 cashback when you refinance. Terms, conditions, fees and exclusions apply.^
Make it easy for yourself
Our paperless application makes it simple for you to refinance online, in branch or over the phone.
You could settle within a week
We’ll do our best to complete your refinance within 5 business days, once we receive your documents.

Get 3K cashback when you refinance


$3K

Cashback^ When you Refinance


Apply by 30th September 2021, and settle by 31st December 2021. Owner Occupier (P&I repayments) and Residential Investment loans, with LVR less than 90%. Available on home loans with our Advantage Package ($395 annual package fee) and our Basic Home Loan (no [[UCR#5895100021]] fee). $200k min loan. Only one $3K cashback offer available per primary applicant within a 12 month period. Excludes refinances from within Westpac Group.^ 

 

FAQs

$3,000 Refinance Cashback per primary applicant for applications received between 1st July 2021 - 30th September 2021 and settled by 31st December 2021. Limit of one $3,000 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 $3,000 cashback offer, tax consequences may arise for investors and you should seek independent advice.

Already have a BankSA home loan with us?

You can apply to increase your home loan. Note that this is different from a home loan refinance. Apply for a home loan increase.

Basic home loan. Sensational rate.

  • 2.29% p.a. Variable rate
  • 2.31% p.a. Comparison rate*

Start your application online

Learn how much you could borrow.
It should only take around 20 minutes to apply.

A home loan expert will call you once you have submitted your application to talk through next steps.

What are the costs to refinance?

Refinancing your home loan has the potential to make you some hefty savings, it’s important to weigh up the costs involved.

Find out more

Refinancing: why and how?

With low rates, heaps of South Australians are refinancing their home loan to a new lender. Here are some reasons why, plus how to switch over in 6 steps.


Important information

Conditions, fees and credit criteria apply. Before making a decision, it’s best to read the terms and conditions:

Residential Loan Agreement - General Terms and Conditions (PDF 1MB)

Loan Accounts - Charges for specific services and accounts (PDF 105KB)

BankSA Advantage Package - Terms and Conditions (PDF 336KB)

Please read these documents and keep a copy. You can request a paper copy at a branch. The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 13 76.

^How does the refinance cashback offer work: Conditions, credit criteria, fees, charges, eligibility criteria and exclusions apply. Apply between 1st July 2021 to 30th September 2021 and settle by 31st December 2021 for refinance applications. Offer may be varied or withdrawn at any time. Min loan amount $200k and LVR must be less than 90% (LMI may apply). Offer available for Owner Occupier with Principal & Interest repayments and Residential Investment Loans (Principal and Interest & Interest Only repayments). Advantage Package ($395 annual package fee and T&Cs apply) and Basic Home Loans. Limit of one $3,000 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. Excludes Owner Occupier Interest Only, Portfolio Loans, residential lending originated under family or company trusts and refinances within Westpac Group (Westpac, St.George, Bank of Melbourne, BankSA and RAMS). The cashback will be paid into a BankSA transaction account within 60 days of settlement. This account must be in the same name as the home loan account and linked to the home loan at settlement. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters. 

#Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible BankSA transaction account. An Advantage Package discount has been included in the advertised eligible rate. The discount and fee savings apply for the duration of the package. Before deciding to acquire a BankSA transaction account, read the terms and conditions, and consider if the product is right for you.

*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.

^^ Basic Home Loan Promotional Rate: This offer is only available for new Basic Home Loan applications received from 24/08/2021. 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.