Align your loan repayments with your income cycle
Written by renxue January 09, 2008 17:17
This allows you to keep as much money as possible on your loan at all times. Leaving extra money in your loan for just a few days each month can have a substantial effect on the interest you pay and the overall term of your loan.
Set up your repayment periods with the same regularity as you get paid. So, if you get paid fortnightly, make fortnightly repayments on your home loan. By structuring repayments this way, you will always be in a position to maximise the amount of money paid against your home loan. All Suncorp home loans come with the option of weekly, fortnightly or monthly repayment periods.
