Loan Options

Table loan

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.

Instalment loan

Paying the same amount of principal back with every repayment reduces your interest payments a little every time (depending on changes to interest rates).

Revolving Credit

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.

Things you need to know
  • If you’re unable to make your regular payments and are facing unforeseen hardship, there are options available to assist you through difficult times.
  • Let us know straightaway if you move.
  • If you break a fixed rate term early, or pay more than 5% extra or $10,000 (whichever is the lesser per calendar year), you may need to pay break costs*.

Repayment Options

Frequency

Choose from weekly, fortnightly, monthly or quarterly** payments. More frequent payments reduce the interest paid over the loan term.

Accelerated repayment

You can arrange principal repayment increases automatically each year, which will reduce your overall borrowing costs.

Bridging finance

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.