Bank SA

With everything from bank accounts and personal loans for everyday transactions to superannuation and term deposits – Bank SA is a leading provider of competitive financial products and services.

Westpac is one of Australia’s big four banks and Bank SA is wholly owned by them. This is why they're able to offer customers the lowest rates on the market and some of the most advanced technologies in the world.

Bank SA has a long-standing presence in South Australia, tracing its roots back to 1848 as The Savings Bank of South Australia. Starting as a small operation, it has evolved into a reputable institution within the region.

Operating under the Westpac Banking Corporation umbrella, Bank SA prioritises security, privacy, and accessibility for its customers. The bank emphasises the importance of considering individual objectives, circumstances, and needs when making financial decisions.

Detailed information regarding terms, fees, and charges associated with its products is available upon request. The bank follows specific lending criteria to ensure credit product approvals align with regulatory standards. Transparent disclosure documents, including terms and conditions, are provided to customers to promote clarity and understanding. 

Great customer service

Bank SA has a fantastic customer service policy that ensures all customers are treated as well as their staff are.

They'll quickly respond to online or email queries and it is easy to get through to their call centre should you wish to take care of something urgently. Availability and customer service may not be something that people consider when looking for a loan, credit card or bank account but, they certainly should be because it makes a significant difference. This is even more so when looking for a Bank SA car loan since it's a long-term commitment. 

Community growth and support

Bank SA is passionate about supporting the South Australian communities they operate in, whether it is of a sport or cultural nature, they are willing and ready to lend a hand. The bank's dedication to the local community is evident through its active support of various local initiatives and partnerships. 

If you’re looking for a Bank SA car loan you'll need to have a look at their secured personal loan product.

This product offers between $3,000 and $80,000 from rates of 6.49% per annum on their fixed rate option with a maximum loan term of 5 years.

Variable rate personal loan

They also have a variable rate personal loan option which starts from 6.49% per annum with a longer maximum loan term of up to 7 years. They have made a redraw facility available to customers but, the minimum redraw amount is $500 and it is subject to approval.

Application fees

Upon completion of an online loan application or even an in-store application, you will need to pay a $195 application fee and thereafter an admin fee of $9 per month for the life of the loan. With their fixed rate loan option you cannot repay the loan early or redraw additional funds should you need a quick cash loan or extra money at a later stage.

Bank SA does allow people to finance a used vehicle with their secured personal loans; however, the vehicle cannot be older than 12 years upon the conclusion of the loan agreement.

Final considerations: Your Bank SA car loan

If you're considering a Bank SA car loan, it's essential to review your specific financial situation and objectives before proceeding. Bank SA offers secured personal loans that can be utilised for purchasing a vehicle. Repayment terms range from 1 to 7 years, with interest rates varying between 6.49% p.a. and 12.99% p.a.

To qualify, you must meet credit criteria, and the vehicle used as security should meet certain requirements.

It's worth noting that the loan amount may exceed the market value of the vehicle to cover additional expenses. Keep in mind that interest rates are subject to change, so it's advisable to stay informed about the latest information provided by BankSA.