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Business Loan Savings
How about trying one of the following:
- Increase the frequency of your loan payments.
For instance, instead of making one payment monthly - you could pay half
of the loan payment fortnightly. As there are 26 fortnights in a year and
only 12 months - you will actually make the equivalent of 13 monthly payments
- meaning your loan will be paid off a lot sooner. Check out fortnightly
repayments savings calculator.
- Increase the amount of your regular loan payments.
Even small amounts added to your regular loan payments - which is the minimum
amount required to repay your loan over the nominated term - will help
you to pay your loan off much faster. Check out our extra
repayments calculator.
- Make a lump sum payment.
One-off payments as and when you can afford them are a great way to reduce
your loan payments and pay back your loan faster. If you make lump sum
or additional payments and as a result your loan is in advance, you may
arrange for a refund through our redraw facility. Check out lump
sum payment calculator.
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