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: | $250## |
| Monthly loan account fee: | $10 From 3 July 2025, our monthly loan account fee will increase to $15. If you apply before 3 July 2025, your monthly loan account fee will remain at $10 until such time as you receive notice advising you that your fee will be increased. |
| Flexible loan term: | 1-7 years |
Fixed interest rate
| 7.49% p.a. to 20.59% p.a. Interest rate range |
| 8.54% p.a. to 21.59% p.a. Comparison rate^ |
| 16.09% p.a. median rate (Around half of our customers receive the median rate or lower) |
| Set repayments for simpler budgeting |
Variable interest rate
| 7.49% p.a. to 20.59% p.a. Interest rate range |
| 8.54% p.a. to 21.59% p.a. Comparison rate^ |
| 16.09% p.a. median rate (Around half of our customers receive the median 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’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 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 22 May 2024. Interest rates are subject to change.
Our standard variable rate for unsecured variable rate loans is 14.99% p.a. (comparison rate 16.00% p.a.). The rate for some customers is based on personalised pricing. The final rate you're offered may be lower or higher than 14.99% p.a. (comparison rate 16.00% 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 7.49% p.a. (Comparison rate 8.54% p.a.) with the estimated total amount payable including fees is $36,960.
- The maximum interest rate for an unsecured fixed & variable rate loan is 20.59% p.a. (Comparison rate 21.59% p.a.) with the estimated total amount payable including fees is $49,284.
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.
##The lending establishment fee will be deducted from 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.