What you’re applying for - Personal Overdraft

Important numbers


Personal Overdraft Funds to help cover unexpected expenses
Credit limit: $500 to $20,000 Variable interest rate 14.99% p.a. on the funds you use² Lending establishment fee: $0 Monthly loan account fee: $5
Access to credit on an ongoing basis, to help manage cashflow and meet payments that would otherwise be declined Pay interest only on the amount you’ve withdrawn (and not repaid)² Access funds via a linked BankSA Complete Freedom account or similar We’ll automatically open and link a Complete Freedom account if needed.
While you only need to make the minimum repayment, it can take a long time to pay off overdraft balances unless you choose to make higher or additional repayments.


Complete Freedom Automatically opened if you need one to access your overdraft
Account-keeping fee: $0
Access your own money with a Visa debit card and a variety of digital cards including Apple Pay & Google Pay Access to offers and benefits on popular lifestyle brands just for being an eligible ^¹ cardholder Fraud Moneyback Guarantee Automatically linked to your Overdraft account if needed.
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Before you continue

A final check that this is the right credit option for you. A Personal Overdraft can be a good way to help with short-term cashflow. However, there are instances where it’s worth considering another form of credit:

You need a payment tool to access funds for everyday purchases on an ongoing basis. In this case, view our Credit Cards
You have a longer-term or specific borrowing need, like a car or home renovations. In this case, view our Personal Loans
You want a fixed repayment schedule with a defined loan end-date. In this case, view our Personal Loans
You’re doing home renovations that will cost more than $50,000. In this case look at building or renovating options.

Overdraft – Important information

Fees and Charges (PDF 268KB)

Internet Phone Banking Terms and Conditions (PDF 9MB)

Unsecured Personal Loans Overdraft General Terms and Conditions (PDF 178KB) - for customers approved before 18 March 2024.
Unsecured Personal Loans Overdraft General Terms and Conditions (PDF 216KB) - for customers who apply, or are approved, on or after 18 March 2024.

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 18 March 2024. Interest rates are subject to change.

2. Interest is charged daily and is charged on the balance owing on your account for the end of that day if it is a debit balance. If the balance owing on your account exceeds the overdraft limit (or if a transaction would cause this to happen) we may, without notice, decline, stop or reverse the transaction or we may choose to honour the transaction. You will be charged a fee when we exercise our discretion to honour the transaction. If the overdraft limit is exceeded, you must immediately repay the excess. Higher interest charges may apply until you do so.

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.

Complete Freedom – Important information

Complete Freedom Terms and Conditions (PDF 741KB)

Our BankSA Fraud Money Back Guarantee ensures that customers will be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted BankSA promptly. Refer to your card’s conditions of use for full details, including when a customer will be liable.

¹My Offers Hub available to all eligible consumer debit and credit card customers.

Read the Apple Pay Terms and Conditions (PDF 47KB) before making a decision and consider if it is right for you. To use Apple Pay you will need an eligible card, and a compatible device with a supported operating system. See our Apple Pay FAQs for more information. Apple, the Apple logo, Apple Pay, Apple Watch and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.