When it comes to your home loan and how you make payments, one size doesn’t fit all. Choose from a range of options to suit your lifestyle.
Pick the home loan that’s right for you
Want to make the same payment amount for the term of your home loan?
A table loan on a fixed rate makes budgeting easier as your payments stay the same until the end of the fixed rate term. With each payment you make, the proportion of principal paid back gradually increases as the interest charged decreases, but your payments stay the same.
If you’re on a variable rate, your interest rate and the amount of interest you pay will change with the market, so your regular payments amount can also change.
Interested in a revolving loan?
A revolving loan is like having a transactional account and home loan all in one, giving you the flexibility to borrow, repay and re-borrow amounts over time, up to your revolving credit limit. Learn more about a revolving loan.
Choose how you make payments
How frequently do you want to make payments?
Align how often you make your payments to suit your lifestyle. Depending on the type of loan you have, you could choose to make your payments weekly, fortnightly, monthly or quarterly.
Want to pay off your loan faster?
If you’re in the position to, you can choose to increase the amount of principal you pay off each year by increasing the amount of your regular payments. Making higher payments helps reduce the amount of interest you have to pay over the life of your loan. It can also help you pay off your home loan faster.
Give one of our team a call to discuss your options for this situation.
Need bridging finance?
If you're wanting to buy your next house without waiting to sell your current house first, bridging finance can help get you in the door. Bridging finance is where we lend you money to buy your new house on the basis that you will pay the bridging loan back when your current home is sold. You’ll be set up with a separate loan, that’s usually on an interest-only basis.
Bridging loans are subject to specific lending criteria and interest rates. There are risks to consider so it’s important that you understand whether a bridging loan is right for you. Give one of our team a call to discuss your options for your particular situation.
Things you need to know
- If you're experiencing financial hardship, having difficulty meeting your payment obligations to us, or think this may happen soon, it's important to let us know as soon as possible. Find out more about what financial assistance options you have.
- Let us know straight away if you move.
- If you break a fixed rate term early, or pay more than $10,000 in additional payments per calendar year, you may need to pay an early repayment fee.
Don’t forget to read this bit
General Lending Terms and Conditions:
- TSB may approve residential loans with less than a 20% deposit subject to bank funding requirements.
- An early repayment fee may apply on fixed rate loans.
- All interest rates are subject to change.
- Lending criteria, terms and conditions, and fees apply.
- When you bank with TSB you agree to our General Terms.