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Getting the most out of your home loan

Ways to pay your loan down sooner

If you have a variable rate loan, there are a few different ways you may be able to pay your loan off sooner, as well as reduce the total interest charges you'll pay.

Save on interest payable with an offset account

If you have an eligible loan (such as an ANZ Standard Variable loan or a one-year ANZ Fixed loan), you can link an ANZ One offset accountdisclaimer to it. The more money you have in your linked offset account, the less interest you'll need to pay on your home loan.

Repay principal and interest

If you're looking to pay off the total amount of your home loan rather than just the interest, then switching from interest-only to principal and interest is something you could consider.

Make extra payments

If you're not in a fixed rate term, you could add extra to each loan payment, or deposit large amounts (such as tax returns, dividends or bonuses). By doing so, you could save on interest and pay off your loan sooner.disclaimer

Consider setting up more frequent repayments

You may like to think about changing the frequency of your repayments. For example, if you make fortnightly repayments instead of monthly repayments, you'll be reducing your total interest charges.

Other helpful tips

Set up a Direct Loan Payment

A Direct Loan Payment is an easy way to set up a recurring payment to your linked ANZ loan account. Set it up in ANZ Internet Banking, and choose between Bank Managed Payments and Customer Managed Payments.

Redrawdisclaimer your extra repayments if you need to

If you've made additional repayments to an eligible loan account, you may be able to access these funds using ANZ Redrawdisclaimer.  

Have your circumstances changed?

Please get in touch with us about any changes to your loan or living circumstances. One of our home loan specialists will talk to you about your options and make sure your current loan still suits your needs. If you're experiencing financial hardship, please call us on 1800 092 536 immediately to discuss your circumstances and see if we can come to an arrangement. 

The information on this page does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and read the relevant terms and conditionsProduct Disclosure Statement and the ANZ Financial Services Guide (PDF) before acquiring any product. 

Applications for credit subject to approval. Terms and conditions available on application. Fees and charges apply. Australian credit licence number 234527.

Terms and Conditions, fees and charges apply. Refer to ANZ Personal Account Fees and Charges booklet (PDF 139kB).


For ANZ Fixed Rate loans, you can make early or additional repayments up to a set available tolerance amount (the lesser of 5% of the loan amount at the start of the current fixed rate period or $5,000) each year of the fixed rate period, without triggering an Early Repayment Cost.  An Early Repayment Cost may be incurred if, during the fixed rate period, the available tolerance amount is exceeded, the loan is fully repaid or refinanced, or ANZ agrees to change the interest rate at your request. Please be aware that Early Repayment Costs can be very large. Terms and Conditions apply please refer to the ANZ Consumer Lending Terms and Conditions (PDF 296kB) and ANZ Fixed Rate Loans - What happens if you repay some or all of it early? (PDF 140kB). Alternatively please visit any ANZ branch or phone the Home Loan Hotline on 1800 035 500, 8:00am to 8:00pm (AEST), Monday to Friday.


Terms and Conditions and eligibility criteria apply to ANZ Redraw. ANZ Redraw is not available on loans in a company name. For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF 412kB).