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 from4||12.99% p.a.||9.99% p.a.|
|Comparison rate2||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 sooner3|
|Convenient redraw facility5|
|Other Fees and Charges||Personal Loan Fees and Charges|
|Interest rates||Unsecured Personal Loan interest rates|
Credit criteria, terms and conditions, fees and charges apply.
Before making a decision, it's best to read the terms and conditions:
The advice 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.
1. Subject to system availability and BankSA Lending criteria. Approval may take longer if application is referred for further review.
2. 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.
Our personalised pricing means the interest rate on an approved application may vary, based on the information you provided and our credit assessment criteria. Personalised pricing interest rates are from 9.99% p.a. to 15.90% p.a. Rates may change and margins may apply in some circumstances. Your loan is more likely to be approved if you’ve been with BankSA for six months or more.
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.
3. Pre-payment fees apply. Break costs are payable on early payout or partial payment (in excess of the limit set out in the loan terms and conditions) of a fixed rate loan. Break costs are an amount equal to the Bank's reasonable estimate of its loss due to breaking of the fixed rate period or early repayment of a fixed rate personal loan.
4. 1.5% p.a. interest rate discount: Information correct as at 19 August 2020. Offer is only available to a customer who applies by 30 November 2020 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. Eligible customers will receive a special offer interest rate of from 9.99% p.a. (comparison rate 11.08% p.a.^) on a fixed rate BankSA Unsecured Personal Loan, which represents a 1.5% discount on the current advertised from rate of from 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 outlined on banksa.com.au/personal/personal-loans/unsecured-loan. 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, call 13 13 76.
5. Redraw requests are subject to approval. Minimum redraw amount $500 and a redraw fee applies for each approved request. Other fees and charges may be payable.