See how paying extra towards your home loan could reduce interest and shorten your repayment period. Explore an additional repayment amount that might fit your budget. Results are estimates and assume the extra repayments are permitted under your loan’s conditions.
Before increasing your repayments, it helps to understand any limits, fees and access to redraw. FI Collective can help you review these features within your current loan and explore refinancing options where appropriate, taking into account your goals, remaining loan term and the costs of making a change.
Some fixed-rate loans allow extra repayments up to a specified limit. Exceeding that limit may result in charges. Check your loan conditions or contact your lender before making additional payments.
You may be able to if your loan includes a redraw facility. Access depends on the lender’s rules, available redraw balance and any applicable fees or restrictions. Check those conditions before relying on extra repayments as money you can readily access.
Not sure where to start? Tell us what you’re planning, and our team will help you understand your finance options and what comes next.
