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Home Essentials
Home Loans
Reduce the cost of my loan
There are many ways we can help you reduce the cost of your mortgage.
- Paying fortnightly versus monthly
- Benefiting from extra and lump sum repayments
- Use a mortgage offset account
- Get the best loan for your situation
Paying fortnightly versus monthly
By paying fortnightly rather than monthly you make approximately two more payments per year, shortening the life of your loan. This is easy to do when you coincide your payment with your pay cycle.
topBenefiting from extra and lump sum repayments
If you decide to contribute extra money to each payment and deposit large amounts like your tax return and any bonuses, you can considerably shorten the life of the loan as well as save on interest. This means that each payment contains a greater proportion of principle.
ANZ Mortgage Offset Accounts can help you own your home sooner and save thousands of dollars in interest repayments.
What is an ANZ One Account?
ANZ One
is a cheque or savings account linked to your home loan that has a 100%
mortgage offset facility. Quite simply, it makes the most of your available
funds by reducing the interest payable on your ANZ Loan whilst providing
the flexibility of an everyday transaction account.
What benefits does an ANZ One account offer?
The most benefit gained from your
ANZ One
account is by depositing all funds into it, including salary and savings
and using your ANZ credit card for your day-to-day purchases and bill
payments. You then pay the card balance off in full when due. Taking
advantage of the interest-free period on your credit card will help you
leave more money in your ANZ One account for longer and as a result save
on interest.
Possible interest savings with an ANZ One account could amount to thousands of dollars and thereby cut years off your loan term.
Use the 100% Mortgage Offset Calculator to see how much you are able to save in interest.
100% Mortgage Offset Calculator
If you have a credit card that has a rewards program you will also earn reward points.
- ANZ Credit Cards
- More about ANZ One
Get the best loan for your situation
The ANZ Home Loan Selector will help you find the loan that best suits your needs.
©
Copyright Australia and New Zealand Banking Group Limited (ANZ) 100 Queen Street, Melbourne 3000, ABN 11 005 357 522, 1996-2008.
ANZ's colour blue is a trade mark of ANZ. Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you.
ANZ recommends you read the Product Disclosure Statement and the Financial Services Guide before acquiring the product.