How can I get ahead on my home loan?

There are several ways to get ahead on your home loan which can allow access to funds, support a flexible budget, and keep you on track to help pay down your home loan, sooner.

Here’s a few things you can do:

Make extra payments

An extra repayment can be that ‘little bit more’ in the form of a yearly bonus, a sudden windfall, or that banknote in your birthday card from Nan.

Paying more than the minimum required can contribute to your Redraw Amount, which may reduce the amount of interest you are charged over time, and reduce your loan balance, faster.

Increase your auto-repayments

Updating your loan auto-repayments above the minimum repayment amount will generally mean you regularly contribute to your Redraw Amount.

Every little bit counts to help you get ahead, reducing the balance and interest charged over time on your home loan. You can update your repayments back to the to the minimum amount if needed.

Turn on offset

Offset allows you to use funds in your linked account for everyday transactions and can help to reduce the interest payable on your home loan.

ANZ Plus offers offset for a monthly fee of $10.

 

Every individual circumstance requires an individual decision. ANZ Plus offers flexibility and options, so consider which choice, or combination of choices, is right for you.