Loan & Repayment Options
Expect total flexibility
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A TSB Bank Home Loan is whatever you want it to be. It’s not an ‘off-the-shelf’ kind of product. It’s about working with our team to mix and match from a wide range of loan, and repayment options.
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Each payment you make is the same (although if you’re on a variable interest rate, your interest payment will change with the market). With each instalment the proportion of principal paid back gradually increases as the interest paid back decreases.
Paying the same amount of principal back with every repayment reduces your interest payments a little every time (depending on changes to interest rates).
You can opt for a revolving credit facility as part of your TSB Bank Home Loan (limits apply). Direct credit your salary and as your debt reduces, you can draw funds again.
Choose from weekly, fortnightly, monthly or quarterly** payments. More frequent payments reduce the interest paid over the loan term.
You can arrange principal repayment increases automatically each year, which will reduce your overall borrowing costs.
If you're selling your home and buying or building a new one, bridging finance can take the pressure off selling your current home in a hurry. This is a separate loan and typically on an interest-only basis, with the old property used as security and the loan repaid when that property sells. Interest rates are 1% p.a. above our standard home loan rates.
*Refer to the terms and conditions of your loan.
**Not applicable to the Welcome Home Loan.
TSB Bank Ltd’s current assessment lending criteria, contract terms, interest rates and fees apply. Use of accounts and services are subject to TSB Bank's General Banking Information, which includes how to resolve issues.
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