Media Release

BankSA increases variable home loan rates

Friday, 23 October 2015

BankSA today announced an increase to the standard variable interest rates for all owner occupier and residential investment property home loans.

The increase will partially offset the cost of fulfilling changed regulatory requirements that will increase the amount of capital that needs to be held against mortgages.

BankSA’s standard variable rate home loan for owner occupiers will increase by 15 basis points to 5.67% per annum (comparison rate 5.83%*).

Similarly, BankSA’s standard variable rate investment loans will increase by 15 basis points to 5.92% per annum (comparison rate 6.08%*).

The new rates will come into effect on 20 November 2015.

For more information about BankSA home loans, visit banksa.com.au, call 13 13 76 or drop into a BankSA branch.

 

Media contact:

Jayne Flaherty                       
0478 335 544                             
flahertyj@banksa.com.au

Important information

Note to editors:

*Comparison rates are based on a loan of $150,000 over a term of 25 years.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.