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  • Get home loan free faster
  • Tailored repayments
  • Reduce your interest by offsetting
  • Increase your payments to fortnightly
  • Pay extra when you can
  • Keep payments same if rates go down
  • Reduce the term of your loan
  • Keep a portion of your loan on floating
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06 Get home loan free faster
Get home loan free faster

06 Tailored repayments
Tailored repayments

06 reduce your interest by offsetting
Reduce your interest by offsetting

06 Increase your payments to fortnightly
Increase your payments to fortnightly

06 Pay extra when you can
Pay extra when you can

06 Keep payments same if rates go down
Keep payments same if rates go down

06 Reduce the term of your loan
Reduce the term of your loan

06 Keep a portion of your loan on floating
Keep a portion of your loan on floating

Get home loan free faster

At BNZ we believe that a home loan isn’t for life. So now that you’re into your new home, here are some of the ways you could pay off your home loan faster, and be home loan free.

Tailored repayments

With tailored repayments you can make small increases in your home loan repayments every year, which could over the long run saves you thousands of dollars. By combining this with more frequent payments, you could save even more. 

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Tailored repayments

Save thousands of dollars in interest and pay off your home loan faster with tailored repayments.

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Goodbye Mortgage

Find out how you could save years and thousands on your mortgage. See what you could save now.

Tailored repayments

With tailored repayments you can make small increases in your home loan repayments every year, which could over the long run saves you thousands of dollars. By combining this with more frequent payments, you could save even more. 

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TotalMoney

You could shave years off your mortgage using the balances of your day-to-day TotalMoney accounts.

Reduce your interest by offsetting

Our TotalMoney home loan allows you to use any money you have in your (everyday banking account) and savings account to offset against your loan. So if you have a loan of $400,000 and savings of $5000, when you offset you’ll only pay interest on $395,000. Over the long run this could save you thousands.

Reduce your interest by offsetting

Our TotalMoney home loan allows you to use any money you have in your (everyday banking account) and savings account to offset against your loan. So if you have a loan of $400,000 and savings of $5000, when you offset you’ll only pay interest on $395,000. Over the long run this could save you thousands.

INCREASE YOUR PAYMENTS TO FORTNIGHTLY

If you pay fortnightly repayments of $250 rather than a monthly repayment of $500, you’ll make two extra payments a year and repay $500 off your loan. That’s because there are 12 months in every year, but 26 (not 24) fortnights.

01 INCREASE YOUR PAYMENTS TO FORTNIGHTLY
INCREASE YOUR PAYMENTS TO FORTNIGHTLY

If you pay fortnightly repayments of $250 rather than a monthly repayment of $500, you’ll make two extra payments a year and repay $500 off your loan. That’s because there are 12 months in every year, but 26 (not 24) fortnights.

01 INCREASE YOUR PAYMENTS TO FORTNIGHTLY
02 PAY EXTRA WHEN YOU CAN copy
PAY EXTRA WHEN YOU CAN

Anything you pay above the minimum amount will come straight off the principal of your home loan. e.g. on a 30-year, $300,000 home loan at 6% p.a., you’d save more than $140,000 in interest and pay your loan off at least 11 years sooner with tailored repayments, when compared to a standard table loan.

02 PAY EXTRA WHEN YOU CAN copy
PAY EXTRA WHEN YOU CAN

Anything you pay above the minimum amount will come straight off the principal of your home loan. e.g. on a 30-year, $300,000 home loan at 6% p.a., you’d save more than $140,000 in interest and pay your loan off at least 11 years sooner with tailored repayments, when compared to a standard table loan.

KEEPING PAYMENTS SAME IF RATES GO DOWN

Holding your payments at the same rate if the fixed or floating rate goes down, is another good way to pay your loan off more quickly.

03 KEEPING PAYMENTS SAME IF RATES GO DOWN
KEEPING PAYMENTS SAME IF RATES GO DOWN

Holding your payments at the same rate if the fixed or floating rate goes down, is another good way to pay your loan off more quickly.

03 KEEPING PAYMENTS SAME IF RATES GO DOWN
04 REDUCE THE TERM OF YOUR LOAN
REDUCE THE TERM OF YOUR LOAN

For example, If you reduce a 25 year, $500,000 loan to 20 years, your repayments will increase from $1,365 to $1,537. That’s only $172 extra a fortnight to pay off your loan, but you’ll pay it off five years earlier and save over $80,000 in interest. 

04 REDUCE THE TERM OF YOUR LOAN
REDUCE THE TERM OF YOUR LOAN

For example, If you reduce a 25 year, $500,000 loan to 20 years, your repayments will increase from $1,365 to $1,537. That’s only $172 extra a fortnight to pay off your loan, but you’ll pay it off five years earlier and save over $80,000 in interest. 

KEEP A PORTION OF YOUR LOAN ON FLOATING

If you have some of your home loan balance on a variable floating rate, you’ll have the flexibility to pay this portion off faster because you can make extra payments at any time, without being penalised. 

05 KEEP A PORTION OF YOUR LOAN ON FLOATING
KEEP A PORTION OF YOUR LOAN ON FLOATING

If you have some of your home loan balance on a variable floating rate, you’ll have the flexibility to pay this portion off faster because you can make extra payments at any time, without being penalised. 

05 KEEP A PORTION OF YOUR LOAN ON FLOATING

Reach your goal with this checklist

Use this list to make sure you’re doing all you can to be home loan free faster.

Your deposit

Home loan application

Finding a home

Buying a home

Settling

Get home loan free faster

Where to next?