What you’re applying for
Let's recap on your choice of an Unsecured Personal Loan - before you start your application.
Important numbers
| Borrow: | $2,000 to $50,000 |
| Lending establishment fee: | $150## $0 with a Variable Rate loan |
| Monthly loan account fee: | $10 |
| Flexible loan term: | 1-7 years |
Save $150 with a Variable rate Personal Loan
Apply for a variable rate personal loan today and we'll waive your establishment fee, saving you $150 upfront.##
Offer ends 18 December 2023.
Offer not available for fixed rate personal loans or secured personal loans. Eligibility criteria, fees and charges apply.
Fixed interest rate
| 6.89% p.a. to 19.99% p.a. Interest rate range |
| 7.81% p.a. to 20.83% p.a. Comparison rate^ |
| 15.49% p.a. median rate (Half of our customers are offered this rate or lower) |
| Set repayments for simpler budgeting |
Variable interest rate
| 6.89% p.a. to 19.99% p.a. Interest rate range |
| 7.59% p.a. to 20.59% p.a. Comparison rate^ |
| 15.49% p.a. median rate (Half of our customers are offered this rate or lower) |
| Redraw facility available1 |
What you'll get
- Funds for a range of personal uses, e.g. travel, home improvements, debt consolidation, a car or something else
- No need to offer your car as security
- A personalised interest rate for both fixed and variable rate loans**
- A structured repayment schedule with a defined end date
- Choice of weekly, fortnightly or monthly repayments
- Fast answer on conditional approval and funds on final approval*.
Considerations
- If you’re buying a car that’ll be less than 7 years old at the time of application, and are willing to offer that car as security, our fixed-rate Secured Personal Loan could offer a lower interest rate^^
- #Loan discharge fee of $150 for a Fixed rate Personal Loan if you fully repay the loan within the first 12 months, or $100 if you fully repay the loan after the first 12 months and before the end of the loan term.
- Other fees and charges may apply#.
Before you continue
- You need a payment tool to access funds for everyday purchases on an ongoing basis. In this case, view our Credit Cards
- You need ongoing access to credit to help with short-term cashflow, but don’t want a credit card. In this case, view our Overdraft
- You’re doing home renovations that will cost more than $50,000. In this case look at building or renovating options.
Important information
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 (PDF 229KB) 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 27 November 2023. Interest rates are subject to change.
Our standard variable rate for unsecured variable rate loans is 12.99% p.a. (comparison rate 14.06% p.a.). The rate for some customers is based on personalised pricing. The final rate you’re offered may be lower or higher than 12.99% p.a. (comparison rate 14.06% p.a.), depending on your personal financial circumstances.
^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 loan discharge 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 7 years. 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 & variable rate loan is 6.89% p.a. (Comparison rate 7.81% p.a.) with the estimated total amount payable including fees is $36,327.
- The maximum interest rate for an unsecured fixed & variable rate loan is 19.99% p.a. (Comparison rate 20.83% p.a.) with the estimated total amount payable including fees is $48,517.
1A 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.
#Other fees and charges may apply. Refer to BankSA Compare Page.
^^To qualify for a Secured Personal Loan, applicant must meet all credit criteria and the car offered as security must meet all criteria - either new or if used, cannot be older than 7 years at time of application, registered under the applicant's name once purchased, has been made locally or imported by the manufacturer, has never been written off (even if it was repaired), has a paid, fully comprehensive insurance policy with BankSA noted as the financier and is for personal use only. The loan amount may exceed the vehicle’s market value, as defined by BankSA, to cover the purchase price of the vehicle and other expenses.
##$0 establishment fee offer is available for customers who apply, are approved and accept their Variable rate personal loan contract before 18/12/23. To receive this offer applicants must apply online using the 'Apply now' button on this page and select ‘Variable rate loan’. This offer is not available for Fixed-rate or Secured Personal Loans. Excludes non-resident or migrant applicants. Offer can be changed or withdrawn at any time.
*Access to funds within 60 minutes: Available for existing customers who are approved for an Unsecured Personal Loan. Loan funds will be disbursed into an existing BankSA transaction account 60 minutes from when e-contract acceptance has been received. Funds transferred to a non-BankSA account will take up to 3 days.
**Personalised rates: 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.
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.