Consolidating your debts
Juggling multiple debts, interest rates and payment frequencies?
Struggling with unmanageable repayment amounts?
Sick and tired of juggling multiple repayments?
We could help
Debt consolidation may help you manage your repayments. One simple to manage unsecured personal loan, with one frequent repayment and one interest rate.
We offer loan terms from 1 to 7 years for variable interest rate loans and from 1 to 5 years for fixed interest rate loans to help to create more manageable repayments.
Choose how often you pay, weekly, fortnightly or monthly
Our instalments pay both the interest and principal so you can watch your debt decrease after each payment, working towards your loan end date.
Unsecured Personal Loan features
One loan, one recurrent repayment, one interest rate
Borrow from $2,000 to $50,000
Apply online - usually takes less than 10 minutes1
|Unsecured Personal Loan||Variable Rate option||Fixed Rate option|
|Interest rate from||12.99% p.a.||9.99% p.a~|
|Comparison rate^||14.06% p.a.||11.08% p.a.|
|Loan term||1 to 7 years||1 to 5 years|
|Monthly administration fee||$12||$12|
|Flexibility to pay off the loan sooner##|
|Convenient redraw facility^^|
|Other Fees and Charges||Personal Loan Fees and Charges|
|Interest rates||Unsecured Personal Loan interest rates|
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 Terms and Conditions 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 10 February 2021.
~1.5% p.a. interest rate discount: Information current as at 18 February 2021. Offer is only available to a customer who applies by 15 April 2021 and is approved for a new fixed rate BankSA Unsecured Personal Loan application via the ‘apply online’ application link, by calling 13 13 76, or by visiting a branch. Offer is not available when refinancing existing Westpac Group (including Westpac, St.George, BankSA & Bank of Melbourne) personal loans. Eligible customers will receive a special offer interest rate of from 9.99% p.a. (comparison rate 11.08% p.a.) on a new fixed rate Unsecured Personal Loan, which represents a 1.5% discount on the current advertised from rate of 11.49% p.a. (comparison rate 12.57% p.a.). This offer is open to single applicants only. This offer cannot be used in conjunction with any other offer and may be varied or withdrawn at any time. All other fees are outlined on Unsecured Personal Loan and in the Terms and Conditions apply. Our personalised pricing means your loan interest rate may vary depending on our credit assessment and the detail you provide us in your application. As a result, the interest rate we offer you may vary and will be presented to you on your loan offer contract. Read the product Terms and Conditions, including the Internet and Phone Banking Terms and Conditions before making a decision and consider whether the product is appropriate for you. If you need help, please call us on 13 13 76.
^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.
Unsecured 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:
- The minimum interest rate for an unsecured fixed rate loan is 9.99% p.a. (Comparison rate 11.08% p.a.) with the estimated total amount payable including fees is $39,204.
- The maximum interest rate for an unsecured fixed rate loan is 15.90% p.a. (Comparison rate 16.95% p.a.) with the estimated total amount payable including fees is $44,681.
- The minimum interest rate for an unsecured variable rate loan is 12.99% p.a. (Comparison rate 14.06% p.a.) with the estimated total amount payable including fees is $41,932.
- The maximum interest rate for an unsecured variable rate loan is 18.90% p.a. (comparison rate 19.93% p.a.). The estimated total amount payable including fees is $47,617.
^^A Redraw facility is available on variable interest rate loans only. Redraw requests are subject to approval. Minimum redraw amount is $500 and a $10 redraw fee applies to each approved request. Other fees and charges may apply.
##Break costs are an amount equal to the Bank's reasonable estimate of its loss due to breaking the fixed rate period of the loan. Full details of costs refer to Loan Account Fees and Charges document.
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.