Our fixed rates range from 4.99% p.a. to 12.99% p.a. (comparison rate 6.13% p.a.^ to 14.06% p.a.^)
From 20th August 2021, we will no longer be offering a variable interest rate on our Secured Personal Loan. If you’d like a variable interest rate on this loan, your completed application needs to be submitted before 20th August 2021.
Note you will not be able to retrieve an incomplete saved application after 20th August 2021.
The rate for some customers is based on personalised pricing. Instead of a one-size-fits-all approach, personalised pricing allows us to offer more people personal loans at a better rate, based on an assessment of credit history as well as the information provided in the application.
|4.99% p.a. to 12.99% p.a.
Interest rate range
|6.13% p.a. to 14.06% p.a.
Flexible loan term
|Set repayments for simpler budgeting|
|6.49% p.a. to 12.99% p.a.
Interest rate range
|7.61% p.a. to 14.06% p.a.
Flexible loan term
|Redraw facility available|
Note: the first interest rate you see in your application may change once we've determined the value of your car. Your loan is more likely to be approved if you’ve been with BankSA for six months or more.
|$12||Monthly administration fee|
|$0||Per redraw on variable loans|
|$195||Establishment fee (added to your loan amount). Excludes all government charges such as stamp duty, search fees, fees to register security interest with the Personal Property Securities Register|
|$150||Early repayment fee if you fully repay the loan within the first 12 months|
|$100||Early repayment fee if you fully repay the loan after the first 12 months and before the end of the loan term|
Fees are subject to change.
Choose to make weekly, fortnightly or monthly repayments.
Redraw a minimum of $500 from your loan amount if you need to, provided you’re at least $500 ahead on your repayments. Each request is subject to approval.^^
Manage your loan and track repayments online or through your mobile banking app.
COVID-19 has impacted the time it takes to process and follow up on incomplete applications. To ensure we assess your application in a timely manner, please read the following sections carefully before applying.
Any advice on this website is general in nature and has been prepared without considering your objectives, financial situation or needs. Please read the product disclaimer and documents and consider your individual circumstances before applying for a BankSA Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information correct as of 18 June 2021. Interest rates are subject to change.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Secured Personal Loan repayment terms range from 1 to 5 years for a fixed rate loan and 1 to 7 years for a variable rate loan. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years:
*To qualify for a lower interest rate, the motor vehicle offered as security must not be more than 12 years old upon loan expiry. The vehicle used as security must be registered under the applicant's name and made locally or imported by the manufacturer and all the lending criteria met. If the loan to value ratio of your loan is greater than 150%, then an extra 1% p.a. may be added to the presented interest rate shown for your secured loan.
^^A Redraw facility is available on variable interest rate loans only. Redraw requests are subject to approval. Minimum redraw amount is $500 and a $0 redraw fee applies to each approved request. Other fees and charges may apply.
Unless otherwise specified, the products and services described on this website are available only in Australia from BankSA - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.