BankSA - Secured Personal Loan
Secured | Fixed | New or used cars up to 7 years old
BankSA offers the Secured Personal Loan which will have a comparison rate from 7.69% p.a. and an advertised rate from 6.49% p.a.. The borrowing range will be between $3,000 and $100,000 with a loan type of Secured. The BankSA Secured Personal Loan will also be a Fixed rate loan with loan repayment terms between 1 and 7 years.
More BankSA Secured Personal Loan details can be found below or visit BankSA to learn more or apply.
A comparison rate of 7.69% p.a. and an advertised rate of 6.49% p.a.. The loan type will be Secured.
Advertised Rate
From 6.49% p.a. to 12.99% p.a. Fixed
Comparison Rate
From 7.69% p.a. to 14.14% p.a.
Loan Term
1 to 7 years
Borrowing Range
$3,000 to $100,000
Interest
Rate Type
Fixed
Advertised Rate
From 6.49% p.a. to 12.99% p.a.
Fixed
Comparison Rate
From 7.69% p.a. to 14.14% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Vehicle
Loan Terms
Loan Term
1 to 7
years
Borrowing Range
$3,000 to $100,000
Repayment
Monthly, Fortnightly, Weekly
Fees
Establishment Fee
$250
one off
Loan Service Fee
$12
per month
Early Repayment Fee
$150
per event
Late Payment Fee
$15
per event
Who is the product designed for?
This product is designed for a class of consumers whose likely needs, objectives and financial situation are aligned with the product and the product’s key attributes.
This product is for those who:
- Need a personal loan for a vehicle purchase or vehicle refinance that is provided over a fixed term with a fixed interest rate and secured with an eligible vehicle.
Needs, objectives and financial situation
- Need a personal loan for purchasing or refinancing a vehicle that is used as security for the loan
- Need interest rate and/or repayment stability during the life of the loan
- Want certainty of the end date of the loan
- Want a loan amount of a minimum $3,000 up to a maximum of $100,000
- May want repayment options
- Are able to meet repayment obligations
Key product attributes
- A lump sum loan provided for vehicle purchase or vehicle refinance where the vehicle is used as security for the loan
- A fixed interest rate for the life of the loan
- A fixed repayment term from 1 to 7 years
- A minimum loan amount of $3,000 up to a maximum loan amount of $100,000
- Weekly, fortnightly, or monthly repayment options
Visit BankSA to view Target Market Determination Effective From: 2023-06-01.
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