BankSA Discharge Form: How to Discharge Your Home Loan
Quick answer. The BankSA discharge form is a PDF called Request to Amend an Existing Security, or the online Property and Security Request form if you prefer. Every party to the loan signs it and it goes by email to mortgagesecurityvariations@banksa.com.au. BankSA charges a $350 loan discharge fee per loan account and a $100 document processing fee, plus the government fee to register the discharge (NSW is $182.73; South Australia sets its own), and asks for the form at least ten business days before settlement. A broker refinancing you handles this.
If you came here looking for the BankSA discharge authority form, it’s the same document as the discharge form. Both names mean the signed paperwork that lets BankSA release its mortgage over your property.
Where to get the official BankSA discharge form
BankSA’s how to discharge your mortgage page is the start. Use the online Property and Security Request form or download the Request to Amend an Existing Security (PDF). Format: online or PDF. All parties to the loan, including guarantors, must sign the PDF, and executors or attorneys need to attach their paperwork.
BankSA keeps it simple with one mailbox for everything: mortgagesecurityvariations@banksa.com.au, whether it is a full discharge, a partial, or a swap of security. Post goes to BankSA, Mortgage Discharges, Locked Bag 1, Kogarah NSW 1485 (yes, Sydney: BankSA, St George and Bank of Melbourne are one bank, and our St George page covers the same form). Phone is 1300 308 584, option 2.
What you’ll need to fill it in
- Full discharge, partial discharge, or substitution of security.
- Loan account numbers and the names on each, plus your phone, email and postal address.
- Your solicitor or conveyancer, or the incoming lender if refinancing.
- The property: address, title reference, sale price if selling, and your anticipated settlement date.
- Instructions for each loan at settlement: close it, convert to savings, or reduce the limit; and where any surplus goes, to an existing BankSA account or by bank cheque.
- Signatures from every party to the loan, including any guarantor.
What it costs
| Cost | Amount | Source |
|---|---|---|
| BankSA loan discharge fee | $350 per loan account (as at 20 September 2026) | BankSA home loan charges, 22 April 2025 |
| BankSA document processing fee | $100 (as at 20 September 2026) | BankSA home loan charges, 22 April 2025 |
| Fixed-rate break cost | Individually calculated | BankSA home loan charges |
| South Australian government fee to register the discharge | Set by Land Services SA; check the current schedule | Land Services SA |
| NSW government fee to register the discharge | $182.73 incl. GST (as at 20 September 2026; other states differ) | NSW LRS 2026/27 fees |
Two loan splits means two $350 fees. BankSA’s fees page also flags an early termination fee on its Discount Variable and One Year Introductory Fixed loans if you leave inside the set period, worked out as a percentage of the loan, so check your product.
On a fixed rate, get the break cost first. BankSA charges it if you pay out, overpay past the threshold, or switch products before the fixed period ends, and it is an individual calculation on the day.
How long it takes
BankSA’s form says to lodge it at least ten business days, spelled out as 14 calendar days excluding public holidays, before settlement. The bank does not publish a processing time beyond that. Treat ten business days as the floor and check with the bank on your file.
Delays are the usual ones: a title reference that does not match the bank’s records, a loan split nobody listed, or a signature missing. Get it right once and the ten days start straight away.
The traps we see people fall into
Lodging before the new loan is unconditional. The form instructs BankSA to release its mortgage. Wait for the incoming lender’s unconditional approval.
The offset gets cancelled with the loan. The form’s authority section has you agree to cancel all facilities linked to the loan, offset included. Decide where that money goes, and before it closes, check the offset was being credited. How to check.
A break cost bigger than the saving. We have seen fixed-rate break costs at this group of banks that made a refinance pointless for another year. That is a reason to get the quote and pick the date, not to give up.
Timing. BankSA’s payout and the new lender’s settlement have to land on the same day. When we refinance a client, we book and chase both ends.
Run the numbers before you send the form
A discharge only makes sense if the new loan beats the old one after the fees. Our calculators do the maths in a minute or two:
- Cost to switch calculator — the one to start with: it takes the discharge fee, the government fee and any break cost and tells you how many months until the switch has paid for itself.
- Loan repayment calculator — the new lender’s rate next to what BankSA charges you now.
- Home loan offset calculator — what an offset account is worth to you, at either lender.
- Offset account checker — before the old loan closes, check BankSA was crediting your offset properly. It is much harder to argue a mistake after the account is gone.
Refinancing? You don’t need to do any of this yourself
When Soren Financial refinances a client away from BankSA, we prepare the Request to Amend an Existing Security, tell you exactly where to sign, lodge it, chase the payout figure and any break cost, and book settlement so the BankSA loan closes the day the new one opens. The incoming lender pays us, so it costs you nothing.
Written by Mansour Soltani, Director, Soren Financial. Mansour has arranged refinances across the major banks and the non-bank lenders since 2019, and handles the discharge paperwork for every client Soren moves. Certificate IV and Diploma in Finance and Mortgage Broking Management. FBAA member. Credit Representative 527161 of Finsure Finance and Insurance Pty Ltd, Australian Credit Licence 384704.
Frequently asked questions
Where do I send the BankSA discharge form?
Email it to mortgagesecurityvariations@banksa.com.au, or post it to BankSA, Mortgage Discharges, Locked Bag 1, Kogarah NSW 1485.
What is the BankSA discharge fee?
$350 per loan account plus a $100 document processing fee, as at 20 September 2026. Government registration fees and any break cost are extra.
How long does a BankSA discharge take?
Lodge the form at least ten business days (14 calendar days) before settlement. BankSA does not publish a processing time beyond that.
Is there an online BankSA discharge form?
Yes, the Property and Security Request form at psr.banksa.com.au. The PDF works just as well and can be emailed.
Can my broker lodge the BankSA discharge for me?
Yes. It is a normal part of a refinance. We prepare it, get the signatures, lodge it and chase the payout.
Is the BankSA discharge authority the same as the discharge form?
Yes. A discharge authority is the signed instruction that authorises BankSA to release its mortgage, and it is the same paperwork as the discharge form covered on this page. If you are refinancing, we can prepare and lodge it for you.