Bank SA

They were established and have been part of South Australia since the 11th of March 1948. Their life began as a one-man business. The Savings Bank of South Australia is the ancestor of today’s Bank SA.

The same day John Hector, the only employee opened the bank's books and doors and when the first deposit was made to mark the Savings Bank as the Peoples Bank for many generations to come single room office was offered by the Glen Osmond Union Mining Company, in Gawker Place, Adelaide which was rent free.

The first customer

• An Afghan Shepherd was their very first person who entrusted his life savings of 29 pounds, with the newly formed bank. Croppo signed his name with an X, because like so many others in the early day Croppo was Illiterate, the teller recorded his name as Croppo Sing (a verbalised explanation of Singh)
• The deposit was made by William Fowler of Lake Victoria, who at the time was Singh’s employer, the deposit was incorrectly recorded in Fowler’s name but was corrected later and this cemented Croppo Singh’s place in the history of the South Australian Bank as well as the state.
• Their Century – In 1948 for the anniversary of The Savings Bank Australia it was published on the first day of business that twelve other citizens, perhaps with a little hesitation, lodged deposits totalling 172 pounds, six shillings

The first loans

Within a month the amateur bank made its first-ever personal loan. Throughout the bank's history, the loan was typically used for housing and farming.  John Colton was able to purchase two acres of land, and build a stone house with seven rooms, a cottage and stables with the advance he got from the bank in the amount of 500 pounds.

Many prominent South Australians from the early years throughout its history have been associated with the Savings Bank of South Australia.

Lieutenant Governor, Lt. Colonel F.H. Robe, who held the position of president of the bank at the time appointed South Australia's first premier, B.T. Finnis as a member of the bank's first Board of Trustees

Consolidating your debts

Are you perhaps juggling several debts? You can take back control of your life with debt consolidation. You only have to worry about one interest rate, one monthly repayment, and a little less stress.

When you have multiple debts like credit cards or personal loans knocking on your doorstep, it’s understandable that this can be very challenging!

Unmanageable repayments

Sick and tired of struggling with juggling multiple repayments that are out of control? Bank SA is able to help you with a debt consolidation loan that will help manage your repayments and all you will need to manage is one simple unsecured personal loan, one monthly payment, and one interest rate.

You have the choice of repaying your loan monthly, weekly or every fortnightly. They also offer long and short-term loan terms between one and seven years for flexible interest rate loans and for fixed interest rate loans you can choose between one and five years, this will assist in creating a more manageable repayment budget.

Watch as your debt decreases after each payment because their instalments pay both the interest and principal, this should encourage you to work towards your settlement date.