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Home loan to be paid on a weekly basis

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Posted by Dunne54 Dunne54
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how can I pay my home loan weekly?

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Re: Home loan to be paid on a weekly basis

Posted by LyndsC LyndsC
Message 2 of 2 428 Views

Hi @Dunne54, while you can certainly make weekly payments into your home loan account, the interest can only be raised monthly.

By making payments more frequently however, the funds will sit in the available balance until the day your minimum monthly repayment is deducted from this. The available balance will offset your home loan interest, meaning less of your payment will go towards interest and more towards paying off the principle of the loan.

 

If your payments are direct debited currently, you'll just need to give us a call on 13 17 19, and we can change the frequency of payments.

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