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Repayment
tips
Smarter Ways to Manage
Your Loan
Often overlooked, smart repayment strategies can
help you pay off your loan faster. Here are some simple
ideas that can make a difference:
- Set up your payments to include a little more
than the minimum required payment so that you don’t
notice the difference
- Switch your repayments to weekly or fortnightly.
This will have the effect of one extra repayment
each year.
- Keep the loan term to the minimum that you can
comfortably afford
- Use smart loan features such as salary crediting,
offset accounts, to help minimise interest costs
- Put extra cash such as tax refunds, birthday presents,
bonuses etc. towards the loan rather than spending
it! Once the loan is repaid, it’ll be like
having these rewards every month!
- If you have a split loan, reduce the term on one
of the loans, especially if the funds are used for
purposes such as a car, furniture, etc.
Use my extra repayment
calculator to see how you can benefit!
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T: 02 9972 4452
F: 02 9972 4605
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