Repayment options

Different loan types offer different benefits. We can help you find the best loan option to suit your needs. 

Table loan

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With a Table loan your regular payments are the same each time (unless interest rates change). At first most of the money goes towards the interest you owe, but as your loan starts to go down more of each payment goes towards the principal.

This is the most popular type of home loan because it gives more consistency to your repayments.

Interest Only loan

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An Interest Only loan is where you pay only the interest owing each fortnight or month, but nothing off the principal. These are short-term loans (up to 3 years) to help keep payments low in circumstances, such as while you experience a change, are building or renovating, or if you need bridging finance while you try to sell another home.You have to repay all the outstanding loan at the end. An Interest Only loan will cost you more in interest than a Table or Reducing loan because the principal isn’t going down.

Reducing (Flat) loan

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A reducing loan, or flat loan.  You pay more at first - as the balance reduces your repayments also reduce over time.

Revolving Credit loan

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With a Revolving Credit loan your loan and everyday transactions are combined in one account. There are no set repayments but you'll need to make sure your balance stays below the limit at all times.

Find out how you could split your home loan with our Split Home Loan Calculator