BankSA Home Loans

One of the worst bank for customer service and transparency – Refinanced 2 home loans (one fixed, one variable) with BankSA 2.5years ago. Initially the variable loan interest rates rises monthly due to RBA increasing rates. 1 year later asked them to help reduced the interest as i came out from 1 year fixed rate but they did not help and kept putting my requests aside. So refinanced to Qudos Bank. Yesterday… Read more

got a letter from them stating they have reviewed my remaining loan with them and noticed, the loan for the property is Owner Occupied when it should be Residential Investment loan so they are going to switch to Residential Investment and increased my rates by 0.6% making it 6.86% When I applied for this loan, their loan officer at the time (David Wang, Gouger Street Branch) agreed to give me an Owner Occupied to give me a better rate. It's like this circus is trying to get rid of customers, finding anyway possible to increased interest rates and being annoying and painful. Well, luckily there are many other smaller banks who can do much better rates. Time to refinanced and cut all ties with this circus. Based on my experience I will be active in not recommending BankSA. Check with Mortgage Choice Brokers, they will find you much better deals and save you time and energy dealing with clowns in this "circus" of a bank. Lesson for these clowns, "Be content and get something or be greedy and get nothing."

Awful experiences refinancing with BankSA – OMG. Our experience with BankSA has been such a nightmare...don't even know where to start. Our broker recommended refinancing three of our home loans with BankSA due to the rates. Application submitted end August 2023 and unconditional approval received on mid Oct due to 'system glitch' issues & delays. The bank system is so bad with on-going… Read more

issue after that and finally managed to get two of the loans settled on 8 Jan 2024! One loan has to be re-applied due to multiple errors the bank made and went through multiple hardcopies contract signings, still pending settlement until today. The online banking is not user-friendly at all. The whole system looks like a mess. So regret choosing BankSA. They really need to do something about it.

Bad customer service – I rang customer support in regards to home loan at 06:30PM in QLD time. I was waiting for 20mins to be answered. Finally a lady answered the call then she just told me that we are closing now. Call back tomorrow between 8am and 8pm. I understand that everyone wants to go home sooner but... dissatisfied Show details

Notification of interest rate raise – BankSA is backwater when it comes to notifying customers of change in interest rate. They have an app but does not use it to notify customers. I have received the latest notification but still waiting for one prior. Also, their have increased the rates without any rba increases. Be careful and stay away from BankSa Show details

Run away with if you can – One of the worse banks to deal with and will never recommend to anyone. Have 2 mortgages with a high asset value but they refused a credit card! No issues with credit history. Had a credit card with CBA and cancelled it to go with Bank SA but what a nightmare it turned out to be!!!

Do you Like Having Your Personal Information Stolen? – Do you Like Having Your Personal Information Stolen? Do you like having your property settlement delayed by 2 weeks and almost being sued? Do you like waiting on hold for hours for every interaction? Do you like waiting 8 weeks for an email reply for an urgent property settlement? Do you like making multiple requests for re draw facilities via… Read more

phone and email to only be ignored? Do you like no information being sent to your conveyancer for a settlement despite receiving a response that took 8 weeks to put together?

In over 12 months I have experienced all of the above.

I had mine any my wife debit card details stolen despite me never activating my card any wife activating but not using hers.

Bank SA took over 10 weeks to get ready for settlement delaying the my settlement date, causing significant stress to myself and the vendor.

Generally phone wait times are 1+ hours with calls only answered between 9 and 5.

Despite promising a response in 2 weeks, the securities discharge team took 8 weeks to respond and failed to include required information in the response.

I requested that a redraw facility be activated on my loan account 4 times (this is an option for this account type) and it still hasn't been setup 6 months later. I haven't followed up because I work during the day and cannot wait on hold for 1+ hours to sort it out.

In all honesty Bank SA are the worst business of any type that I have interacted with.

If you have any other option choose another bank.

Professional and fast service – My Bank SA representative Jasper Ooi has done a great and swift job on getting my loan approved in 2 day. Due to other reason, I didn't proceed with this loan, however, I still recommend others to use Bank SA for their great and professional service. Show details

Fantastic service – This is one of the best banks I have been with. Sure their phone app sucks and signing in to online is total he'll bit the staff are awesome. I can highly recommend these guys for most banking needs Show details

Another rate hike? without notifying me – They are absolutely horrible. They just increased my interest rate second time in two years without any notification. Their customer service is hopeless. Do not get a loan or a bank account with them unless you are like wasting your money and time.

Worst Bank in Australia – Every time I walk into this bank I get anxiety, it's not pension week so one would think straight in and straight out!! Not this bank even if there is no-one in line you a guaranteed a 10min wait. Two tellers most times 1 is either on the phone or not there, you would think that if there is a line up you would get your staff to serve!!! Not this… Read more

bank!!! They don't care or value the customers time. When I finally get to the counter to deposit my money ... I get told by the teller person I could use the ATM machine to do that? Really? "don't you like your job of sitting on taking people's money?" Maybe not at this bank.

A one star rating is still to good for this bank, they don't deserve it!! Do yourself a favour and go to another Bank SA branch or another bank and save yourself the anxiety and time.

great service – being very unsure when buying our first home, bank sa talked us through the process, took care of everything and never made us feel stupid for asking any question. The fella went above and beyond in securing us a loan and we are very grateful to him for this. We dont fit in the standard box but he worked out a loan for us. helpful

Home Loan with Bank SA – I am in the process of applying for a Home Loan with Bank SA. The Adelaide branch is taking care of this for me. When I walked in the door someone approached me rather than having to wait in a line. I was seen to very quickly. Sufficient information was given to me in the first visit to be able to make a decision to take or leave the loan. I… Read more

decided to take it because it was a convenient bundle with a bank account, credit card and home loan with reduced fees and services. The interest rate on the loan is going to save me thousands of dollars over the term of the loan. Good customer service and great product Lots of paper work