Make extra payments or increase your regular repayments to reduce interest and pay off your home loan faster—often without fees, depending on your loan type.
Make extra payments
Fixed rate loans:
- Make extra payments any time, up to $10,000 per calendar year, with no early repayment fees.
- Go over this limit or break your fixed term early and you may be charged an early repayment fee.
- No minimum payment amount applies if you make an extra payment in online banking or the TSB mobile app (a $1,000 minimum payment amount applies if you make an extra payment in branch).
Floating/Variable rate loans:
Make unlimited extra payments, any time, with no early repayment fee.
How to make extra payments
It’s simple—just transfer money through online banking. Otherwise you can call us on 0800 872 226 and we can help.
Change your scheduled repayment amount
Fixed rate loans:
If you’re on a fixed rate loan, you can increase your regular repayment amount up to three times during your fixed term, without any fees.
- Increase by any amount between $0.01 and $1,000 per month.
- The total increase can’t exceed $1,000 above your original repayment at the start of the fixed term.
- You can also reduce your repayments, as long as they stay above the minimum required amount.
Floating/Variable rate loans:
If you’re on a floating/variable rate, you can increase your repayments any time, by any amount, with no early repayment fees.
How to change your repayment amount
If you'd like to change your repayment amount, give us call us on 0800 872 226 and we’ll make this change for you.
Things you need to know
Financial assistance
If you're experiencing financial hardship, are having difficulty meeting your repayment obligations to us, or think this may happen soon, it's important to let us know as soon as possible.
Breaking a fixed term?
If you break a fixed rate term early, or pay more than $10,000 in additional payments per calendar year, you may need to pay an early repayment fee. A minimum payment amount may apply1.
Important information
- For some methods of payment, we may set a minimum payment amount that you must pay each time you choose to repay some of your loan early. If we do set a minimum payment amount, you can find this on our home loan rates, fees and agreements page.
General Lending Terms and Conditions:
- TSB may approve residential loans with less than a 20% deposit subject to bank funding requirements.
- An early repayment fee may apply on fixed rate loans.
- All interest rates are subject to change.
- Lending criteria, lending terms and conditions and fees apply.
- When you bank with TSB you agree to our General Terms.