Personal Loans
Personal loans
Turn everyday goals and big life plans into reality with our personal loans.
Why choose BankSA
Personalised rates**
Know that you're getting the best rate for your needs.
Fast response
Apply online and get a response within 60 seconds.
Be in control
Choose your loan term and repayment frequency.
Flexibility
Access your extra repayments free of charge1.
Our Personal Loans
Fixed rate Personal Loan
Features
- Borrow $2k - $50k
- $0 extra repayment fee#
Rates & fees
- Fixed interest: 7.49% p.a. to 20.59% p.a.
- Comparison: 8.54% p.a. to 21.59% p.a.^
- Establishment fee: $250##
- Account fee: $10/month
Other fees and charges may apply.
Estimated weekly repayments: $79, based on a 7-year loan term of $15,000 with a median interest rate of 16.09% p.a. (comparison rate of 17.10% p.a.).>>
Variable rate Personal Loan
Features
- Borrow $2k - $50k
- $0 redraw1 and exit fee#
Rates & fees
- Variable interest: 7.49% p.a. to 20.59% p.a.
- Comparison: 8.54% p.a. to 21.59% p.a.^
- Establishment fee: $250##
- Account fee: $10/month
Other fees and charges may apply.
Estimated weekly repayments: $79, based on a 7 year loan term of $15,000 with a median interest rate of 16.09% p.a. (comparison rate of 17.10% p.a.).>>
Secured Personal Loan^^
Features
- Borrow $3k - $100k
- A lower rate^^
Rates & fees
- Fixed interest: 6.49% p.a. to 12.99% p.a.
- Comparison: 7.69% p.a. to 14.14% p.a.^
- Establishment fee: $250##
- Account fee: $12/month
Other fees and charges may apply.
Estimated weekly repayments: $133, based on a 7 year loan term of $30,000 with a median interest rate of 10.99% p.a. (comparison rate of 12.16% p.a.).>>
What's the difference between a Fixed and Variable rate Loan?
A fixed rate loan gives you the security of knowing what your repayments are and protects you against interest rate rises for the life of the loan.
A variable rate loan gives you flexibility, as you can pay extra off your loan# and request to redraw1 those extra payments if and when you need them.
Frequently Asked Questions
What's the difference between a Secured and Unsecured Personal Loan?
A secured loan requires an asset, such as a car, as security for your personal loan. If you don't repay your loan, the lender can sell the asset to cover the cost of the loan.
An unsecured loan doesn't require an asset for your personal loan.
How fast is the application process?
It usually takes less than 15 minutes to complete your application online. Once we receive your completed online application, you will receive a response within 60 seconds.
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.
**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.
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.
#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.
^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.
Secured Personal Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a secured loan of $30,000 borrowed for 5 years:
- The minimum interest rate for a secured fixed rate loan is 6.49% p.a. (Comparison rate 7.69% p.a.) with the estimated total amount payable including fees is $36,224.
- The maximum interest rate for a secured fixed rate loan is 12.99% p.a. (Comparison rate 14.14% p.a.) with the estimated total amount payable including fees is $42,008.
##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.
>>Repayment amount examples: help you understand the estimated weekly cost of a personal loan. All repayment amount examples are shown for a loan term of 7 years with a weekly repayment schedule using the average customer loan amount over the last 12 months. Information as of 27 November 2023
- For a fixed rate Unsecured Personal Loan based on a borrowing amount of $15,000 and term of 7 years with a median interest rate of 16.09% p.a. (comparison rate of 17.10% p.a.), the weekly repayment amount including fees is $79.
- For a variable rate Unsecured Personal Loan based on a borrowing amount of $15,000 and term of 7 years with a median interest rate of 16.09% p.a. (comparison rate of 17.10% p.a.), the weekly repayment amount including fees is $79.
- For a Car Loan based on a borrowing amount of $30,000 and a term of 7 years with an interest rate of 10.99% p.a. (comparison rate 12.16% p.a.), the weekly repayment amount including fees is $133.
^^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.
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.