This was posted 4 years 5 months 1 day ago, and might be an out-dated deal.

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$2k Refinance Cashback + $1k Online Bonus for Owner Occupied (Minimum $200k Loan) @ BankSA

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$2k Refinance Cashback + $1k Online Bonus for Owner Occupied (Minimum $200k Loan) @ BankSA
Go to Deal
Store RepLPeterrafidi86 on 22/07/2020 - 11:49 banksa.com.au (305 clicks)
Last edited 27/07/2020 - 11:25 by 1 other user

$1k Online Bonus for Owner Occupied (1 only per customer).

Additional $2,000 Refinance Cashback for investment or subsequent properties

Basic home loan

2.64% p.a. Variable rate
2.66% p.a. Comparison rate

Available on our Basic Variable home loan with no establishment fee or ongoing fees. Also available on advantage Package home loans with a $395 annual package fee. $200k min loan per property refinanced. LVR up to 80% at time of approval. Excludes refinances from within Westpac Group. Apply by 27 Aug 2020, and settle by 30 Sep 2020. T&Cs and exclusions apply.

Financial Cashback Home Loan Loan Refinance

Related Stores

BankSA (Bank of South Australia)
BankSA (Bank of South Australia)

closed Comments

  • jimbobaus on 22/07/2020 - 12:26

    Westpac did a take down of a similar deal for them and Bank of melb..i would expect this to fall under same category as westpac owns BankSA

  • CodeXD on 22/07/2020 - 13:11

    Available on our Basic Variable home loan with no establishment fee or ongoing fees or dvantage Package home loans, with a $395 annual package fee.

    I thought basic doesn't have the $395 unless you want offset?

    • Store RepPeterrafidi86 @ BankSA (Bank of South Australia) on 22/07/2020 - 13:22

      Basic Home Loan and Advantedge package are different products and have different fee structures. The $395 annual fee only applies to advantage package which has an offset.

  • spuderump on 22/07/2020 - 13:36
    +4

    I have never understood why a mortgage would have an annual fee?

    • clover on 22/07/2020 - 13:38
      +2

      I don’t understand how all the banks come up with the same cost 395 anyway. Shouldnt their underlying costs be different.

    • Store RepPeterrafidi86 @ BankSA (Bank of South Australia) on 22/07/2020 - 13:48

      The basic product has no ongoing or establishment fee which is our newest product that is very popular for this reason.

      the products that have a package fee offer value if you are a customer who pays a credit card annual fee, account keeping fees for multiple accounts etc and are able to roll that into one.

      different products are suitable to different needs.

    • Chickenleg on 22/07/2020 - 19:42

      This has always bugged the hell out of me!

  • ujwols on 22/07/2020 - 14:45

    What is your current timeline to process refinance?

    • Whatisthatvelvet on 22/07/2020 - 15:09

      I recently refinanced from CBA to Bank SA's basic loan.
      Took about 10 weeks from start to finish during the height of Covid.

    • Store RepPeterrafidi86 @ BankSA (Bank of South Australia) on 22/07/2020 - 15:42

      Our current turn around times are back to normal standards. We did experience some delays earlier this year during lockdowns although we extended any deadlines so customers were not penalised by missing out on offers.

      • Whatisthatvelvet on 22/07/2020 - 16:14
        +1

        Yep. Had my $4k cashback deadline honoured. That hit my account a few weeks after settlement

  • jj212 on 22/07/2020 - 17:31

    Can anyone provide the real world costs for transferring lenders? I’m currently fixed until April but will definitely look to take up one of these cash back offers. From the looks it’s around $900ish (valuation, exit fee, package fee) leaving you $2100 better off on a deal like this? Seems too good to be true!

    Edit: Currently with Bankwest

    • Store RepPeterrafidi86 @ BankSA (Bank of South Australia) on 23/07/2020 - 07:58

      The lender you are discharging from may have some fees for example fixed rate break cost and discharge fee. Most fees you will be able to get form your loan contract or lender website except for fixed rate break cost you need to call them.

  • dcep on 22/07/2020 - 19:44

    no establishment fee , what about banksa legal / solicitor fee ?

    • Store RepPeterrafidi86 @ BankSA (Bank of South Australia) on 23/07/2020 - 07:58

      There is $100 settlement fee per property.

      • makeahit on 23/07/2020 - 19:33

        Is this the only fee for refinance other than gov. fees and discharge fee from the current lender?

  • Prodev3r on 23/07/2020 - 10:12

    Seeing the 2.64% rate is after the 1.33% pa discount.

    Will the discount be applied for the entire duration of the loan term or can that change at any time?

    • Store RepPeterrafidi86 @ BankSA (Bank of South Australia) on 23/07/2020 - 10:15

      Yes this is applied for the entire loan term

      • Prodev3r on 23/07/2020 - 10:17

        Thanks.

        What is the minimum deposit for a principal adjustment? Any limits on number of adjustments in a year?

  • brownbag on 24/07/2020 - 13:08

    op, is the cashback of $2000 available for investor loans with no owner-occupied loan?

    • Store RepPeterrafidi86 @ BankSA (Bank of South Australia) on 25/07/2020 - 14:52

      Yes that is correct

      • brownbag on 30/07/2020 - 20:06

        Thanks for that.
        What's the equivalent fixed rate (3yr) for the Basic Variable Loan?
        And on this loan are there any limits on redraws or repayments?
        Any application fees?
        And when I finish the loan, what are the account closure costs?

  • enzso on 29/07/2020 - 15:38
    +1

    I have to give this a massive pump up. It's taken 4 business days from application to receiving the loan docs (including a site valuation). The loan manager recommended I go under Bank Of Melbourne (I'm in VIC) so I could get 2.59% and the 3 grand bonus. Couldn't have been an easier process.

    • nova2k on 31/07/2020 - 10:27

      Hi enzso, so you initially applied the loan with BankSA and the loan manager referred you to Bank of Melbourne?

      • brownbag on 31/07/2020 - 11:24

        From BOM: "Bank of Melbourne is part of the national network of St.George branches in other states and BankSA branches in South Australia".

      • enzso on 31/07/2020 - 22:09

        Yes BankSA, St George and BOM are all part of the Westpac group. So I made a BankSA online enquiry, dealt with a St George lender, and got a Bank of Melbourne loan :)

  • [Deactivated] on 06/08/2020 - 23:29

    What is the interest rates for variable investment loan with 100% offset?

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