Home' InDaily : May 9th 2011 Contents PARTNERS
MONDAY 9TH MAY 2011
*This offer is available from 6 April 2011 until 31 May 2011 and may be withdrawn at any time. The offer only applies to new Great Start Home Loan applications received and lodged within the offer period for new secured borrowings of $150,000 or more that are includ ed in a B ankSA Advantage Package. For the firs t 1 2 months
from the settlement date of the G reat Start Home Lo an, the interes t rate is 1.25% p.a . below the standard variable rate. # Af ter the firs t 1 2 months, the discount rate will rever t to the prevailing Advantage P ack age discount s ubject to the BankSA Advantage P ackage terms and conditions. 0 .70%p.a . is the current Advantage P ackage
discount for s ecured bo rrowings of $250,000 or more and is subject to change. Other interes t rate discounts under the Advantage P ackage are available for borrowings of les s than $250,000. + O n selected credit cards only. Limited to 1 cre dit card account per package. Advantage P ackage annual fee of $ 395 applies, other fees
may be payable. Co nditions apply and are available on request. The information does not take into account your circumstances. P leas e read the terms and conditions to d ecide whether the product is suitable f or you. Discounts only apply whilst products are includ ed in the Advantage P ackage. A ll applications for credit are subject
to BankSA’s prevailing credit criteria. BankSA – A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 ACL 233714.
Spend more on your home,
less on your loan.
1.25%p.a. of f our standard variable rate for the first 12 months*
Put more of your money where it matters with a BankSA Advantage Package. Get off to a Great Start Home Loan with 1.25%p.a. off our standard variable rate for the first
then up to 0.70%p.a . of f thereafter#. Plus $0 annual credit card fee+
, $0 monthly account ser vice fee on our Complete Freedom Account, $0 loan establishment
fee, credit limit increase and rate switch fees, $0 monthly loan administration fee and $0 monthly ser vice fee with 100 % offset facility. Offer ends 31 May 2011 so visit
banksa.com.au or call 13 13 76 today.
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BRIGHT SPOTS FOR SA ECONOMY
Customers seeking safe and secure returns amid
ongoing sharemarket volatility have helped push
total deposits at BankSA to a record $9 billion in
the first half of its financial year.
Deposits grew by 8 per cent in the six
months ended March 31, 2011, with
managing director Jane Kittel attributing
the significant growth to BankSA’s strong
brand, its extensive network of branches and
competitive rates on offer.
She also said there had been good levels
of deposits from the rural sector, with grain
growers depositing the proceeds of the
bumper wheat and barley harvest.
Ms Kittel also said term deposits have proved
attractive to customers looking for a secure rate
of return with a competitive interest rate, at a
time when there was continued volatility in the
sharemarket and people were seeking safety.
BankSA had also generated solid growth in
home lending at a time when the broader real
estate market had softened considerably.
BankSA’s home loans had increased by
6% to $12 billion in the first half.
Ms Kittel said business
customers were continuing
to pay down debt but she
expected a pick-up in
business investment late
in the second half as the
RECORD DEPOSITS AT BANKSA
Mining and the defence sector are the two
main bright spots for the South Australian
economy, with the prospects for mining gaining
an added boost with the decision by the Federal
Government to open up parts of the Woomera
Prohibited Zone to allow mining projects.
BankSA managing director Jane Kittel said
companies supplying services to the mining
and defence sectors would benefit as South
Australia realised the potential of its mining and
energy reser ves, so there were substantial spin-
There are estimates the decision to open up the
Woomera weapons testing zone could bring $35
billion in future benefits across a range of iron
ore, gold and uranium projects.
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