BankSA is a banking brand that is part of Westpac. It offers home loans, car loans, business loans, equipment finance and personal loans.
We checked BankSA's products and eligibility on its own website on 30 September 2026.
What BankSA offers in each category, with the features, eligibility and trade-offs we note. For the current rate on each product, follow the link to BankSA’s own rate card.
BankSA's home loan range includes the Basic Home Loan, a no-frills variable loan with redraw and no establishment or ongoing monthly fees, and the Standard Variable Rate loan, which adds an offset account, split loan options and a building option for construction. The Fixed Rate home loan fixes the rate for 1 to 5 years, with a $30,000 prepayment threshold over the fixed period before break costs apply. Standard Variable Rate and Fixed Rate loans can be bundled into the Advantage Package for a $395 annual fee, however many home loans are held, which removes the $600 establishment fee and the $8 monthly loan account fee. BankSA also offers a Relocation Loan, a bridging loan for buying or building a new home while the current one is sold.
For personal lending, BankSA offers fixed and variable rate unsecured personal loans of $2,000 to $50,000, and a Car Loan of $10,000 to $130,000 over 1 to 7 years with no balloon payment. The Car Loan is secured by the car, which must be 7 years old or less at the time of application, for personal use and comprehensively insured with BankSA noted as the financier.
For businesses, BankSA offers business loans from $20,000, a startup loan of $10,000 to $50,000 over up to 5 years, Bank Bill Business Loans for borrowing over $250,000, and commercial overdrafts. Vehicle and equipment finance is available as a business car loan (a chattel mortgage, from $15,000 for new or used vehicles), an equipment loan, hire purchase or a lease.
BankSA's home loans cover first home buyers, upgraders, refinancers and investors, but residential lending is not available to non-Australian resident borrowers. First home buyers can use the Australian Government 5% Deposit Scheme, and rent paid over the last 6 months could count as genuine savings on owner-occupier loans. Eligible investors can borrow with a deposit from 5% (up to a 95% LVR, with LMI and principal and interest repayments), and interest-only terms of up to 15 years are available up to an 80% LVR.
Self-employed borrowers who have been self-employed for more than 2 full financial years and hold a registered ABN can apply for any BankSA residential home loan. BankSA's Fast Track process can assess an application without business financials where the borrower has a 20% deposit, and BankSA says it does not offer low doc loans.
Personal loan and car loan applicants must be 18 or over, have a regular, verifiable Australian taxable income and a fixed Australian address, and be an Australian or New Zealand citizen, a permanent resident, or a non-resident or migrant with an acceptable visa that has at least 1 year before expiry. Business borrowers generally need to be an Australian registered business with an ABN, and business car loans also require GST registration and a vehicle used mainly for business.
BankSA offers four ways to apply for a home loan: online, by phone, through a mortgage broker or in a branch. BankSA says the online application takes around 10 to 20 minutes, there is no credit check until the applicant has spoken with a lending manager, and conditional approval may be possible within 1 business day. Applicants can also book an appointment with a local lender by video, by phone, in a branch or at a place that suits them.
Personal loan applications can be made online in about 20 minutes, or 15 minutes for existing customers, and BankSA gives an answer within 60 seconds of submission. For business car loans, businesses can request a quote online and BankSA will make contact within 2 business days. BankSA says business loans can take from a few days to a month from application to approval and settlement, depending on the type of loan.
BankSA is a division of Westpac Banking Corporation (ABN 33 007 457 141), which holds Australian credit licence 233714. BankSA became a division of Westpac after Westpac's merger with St.George in 2008.
BankSA traces its history to The Savings Bank of South Australia, which opened on 11 March 1848. BankSA has a network of branches and ATMs in South Australia.
Other lenders in our directory that offer home loans, car loans, business loans, equipment finance, personal loans, starting with other major-bank brand lenders.
Yes. BankSA's Standard Variable Rate home loan has a full interest offset facility, and every dollar in a transactional offset account linked to it reduces the home loan interest. The loan has a $600 establishment fee and an $8 monthly loan account fee, both of which are $0 with the $395-a-year Advantage Package.
BankSA's Car Loan lends $10,000 to $130,000 over 1 to 7 years, with no balloon payment. The car must be 7 years old or less at the time of application, for personal use, never written off and comprehensively insured with BankSA noted as the financier. Fees include a $250 establishment fee, a $15 monthly loan account fee and a $6 PPSR fee.
Yes. BankSA says its online home loan application takes around 10 to 20 minutes, and there is no credit check until the applicant has spoken with a lending manager. A lending manager then calls to help move the application along. Conditional approval may be possible within 1 business day and is valid for 90 days.
Yes. Borrowers who have been self-employed for more than 2 full financial years and hold a registered ABN can apply for any BankSA residential home loan, with the same interest rates, offers and features as PAYG customers. BankSA's Fast Track process can assess the application without business financials if the borrower has a 20% deposit, and BankSA does not offer low doc loans.
It is a home loan package with a $395 annual fee, which stays the same however many home loans are held. It can include Standard Variable Rate and Fixed Rate home loans, and it gives a home loan interest rate discount, no establishment or monthly loan account fees, and a credit card with no annual card fee.
Yes. BankSA’s loans are provided by Westpac Banking Corporation, which is on APRA’s register of authorised deposit-taking institutions (ADIs), the list of banks, building societies and credit unions licensed under the Banking Act 1959.
BankSA is a division of Westpac Banking Corporation. Its loans are provided under Australian Credit Licence 233714, held by Westpac Banking Corporation.
Westpac Banking Corporation holds Australian Credit Licence 233714, the licence BankSA operates under. You can check a licence on ASIC’s Professional Registers before you apply.