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Extra ways to reduce interest costs

More ideas to help you repay your loan a little bit faster – from one-off payments to reviewing your service providers. 

Pay all fees upfront

If you can, pay any loan establishment fees or legal fees up front from your own savings rather than adding this amount to your loan.

Make your first repayment as soon as you can

You can make your first repayment as early as two business days after your loan draws down. Interest is calculated daily, so every day you have a reduced balance counts. 

Review your service providers regularly

Review your service providers to ensure you’re getting the best value. Any money you save on utilities, for example, can be put towards your loan. 

Review your loans regularly

Circumstances change so be sure to review your loan regularly. If your circumstances improve, consider whether you can afford to increase your repayments. To give you the ability to make extra repayments whenever you like, consider a floating ANZ Home Loan or an ANZ Flexible Home Loan which provide greater flexibility to make extra repayments.   

Make lump sum payments

On a fixed ANZ Home Loan, you can make one extra repayment of up to 5% of the current loan amount each year of your fixed rate period, without being charged Early Repayment Recovery. 

Early Repayment Recovery is an amount you pay us to reflect the loss we incur when you repay some or all of the loan early during a fixed rate period. Talk to us before you decide to repay early, as any Early Repayment Recovery could be large.  

On a floating ANZ Home Loan you can make extra repayments whenever you like – a minimum repayment amount may apply.


As your debt changes, it’s good to review your life insurance too. Check you have appropriate cover to meet your home loan repayments should anything happen.


Talk to an ANZ Home Loan Coach

ANZ Home Loan Coaches can help you set up or restructure your home loan to suit your circumstances – and help you set your repayments to pay it off faster.

Call us today or book an appointment in branch with an ANZ Home Loan Coach.

0800 269 4663

ANZ lending criteria, terms, conditions, and fees apply. Interest rates and fees are subject to change.  

A copy of the Bank's General Disclosure Statement  under the Reserve Bank of New Zealand Act 1989 is available on this website or on request from any ANZ branch, free of charge.

This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. An ANZ Authorised Financial Adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.