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: | $195## |
| Monthly loan account fee: | $12 |
| Flexible loan term: | 1-7 years |
Fixed interest rate
| 6.89% p.a. to 18.90% p.a. Interest rate range |
| 8.01% p.a. to 19.93% p.a. Comparison rate^ |
| Set repayments for simpler budgeting |
Variable interest rate:
| 8.89% p.a. to 18.90% p.a. Interest rate range |
| 9.99% p.a. to 19.93% p.a. Comparison rate^ |
| 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 12 years old by the end of the loan term, 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 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 2MB) 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 20 January 2022. Interest rates are subject to change.
Our standard variable rate for unsecured variable rate loans is 12.99% p.a. (comparison rate 14.06%). 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 rate loan is 6.89% p.a. (Comparison rate 8.01% p.a.) with the estimated total amount payable including fees is $36,500.
- The maximum interest rate for an unsecured fixed rate loan is 18.90% p.a. (Comparison rate 19.93% p.a.) with the estimated total amount payable including fees is $47,617.
- The minimum interest rate for an unsecured variable rate loan is 8.89% p.a. (Comparison rate 9.99% p.a.) with the estimated total amount payable including fees is $38,231.
- 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.
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 lower personalised interest rate on a Secured Personal Loan applicant must meet all credit criteria and, the car offered as security must meet all criteria - either be new or if used, cannot be older than 12 years at the end of loan term, registered under the applicant’s name, 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 lending establishment fee will be added to your loan amount. Please read full terms and conditions & fees and charges before making a decision to apply for a BankSA Personal Loan.
*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.