Finty
BankSA

BankSA Unsecured Fixed Personal Loan

UnsecuredFixed rate

Our unsecured loan offering to meet your requirement for car, renovation, consolidation of debt or something else.

Written byDavid Boyd

7.00%

interest rate a year, from

8.41%

comparison rate, from

Establishment fee
$250
Monthly fee
$15
Borrow
$2,000 to $50,000

What it would cost

At the lowest published rate of 7.00%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$633
Total repayments
$22,772
Interest and monthly fees
$2,772

Loan details

Rates

Interest rate (a year)
7.00%–21.99%
Comparison rate (a year)
8.41%–23.28%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
$2,000 to $50,000
Loan term
1 year to 7 years
Establishment fee
$250
Monthly fee
$15

How it compares

Against the other unsecured personal loans we compare. Typical means the middle half of them.

Comparison rate

8.41%

From 8.41%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$4,911

Interest and fees at its starting rate. Typical is $5,455.

Setup fee

$250

A typical setup fee is $213.

Monthly fee

$15

A typical monthly fee is $10.

Most you can borrow

$50,000

Typically you can borrow up to $50,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 7.00% to 21.99%, and only some people get the starting rate.
  • A $15 monthly fee. That adds $900 over 5 years, as well as the interest.
  • A $15 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Unsecured loans from other lenders that start at a similar comparison rate.