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Save on your home loan

There are some great ways to save on your home loan!

While it’s easy to think of your home loan as ‘set and forget’, understanding your features and how to use them can save you money.

Great ways to save on your home loan!

1. Check that you have the right loan

Yes, it will cost to switch to another loan, but being in the right home loan to suit your current circumstances can save you money in the long run. Take a look at just a few examples:

You started with...

And now could benefit more from...

A Basic Home Loan

Advantage Package - a package deal with interest rate discounts and fee savings on your home loan, credit card and transaction account.1

A variable rate home loan

Protecting yourself against potential interest rate rises with a Fixed Interest Rate or by splitting your home loan.

A fixed rate home loan

Portfolio Loan, a line of credit that lets you use your home equity and start building assets.

To switch home loans, call us on 13 33 30 or drop by any St.George branch

2. Use your home loan features to your advantage

A quick review of your home loan features may encourage you to use them more!

Do you have...

You can use it to save...

An interest offset facility

  • Deposit your salary into your offset account
  • If you have an interest free days option on your credit card, use it to keep your cash in your offset account longer

Extra repayments and Redraw

Interest in advance

  • Receive 0.20% p.a. off the standard fixed rate for paying interest in advance
  • Advantage Package customers receive an additional discount.1

Weekly or fortnightly repayment option

  • Make your repayments weekly or fortnightly to pay off your home loan sooner if you are making principal and interest repayments
  • Calculate what you’ll save.

3. Minimise fees

Learn more about these easy strategies to minimise your home loan fees.

  • Consolidate all your loans – if possible, consolidate your other loans into your St.George  home loan to save on administration fees and interest charges.
  • Save on transaction account fees – automatically deduct your home loan repayments from your St.George  Complete Freedom account to save on monthly transaction account service fees.
  • Avoid exception fees – monitor your transaction account balance to make sure you have funds available for repayments. It’s easy with Internet Banking, Mobile Banking or Phone Banking. You can also get mini-transaction histories on most St.George  transaction accounts at any St.George ATM.
  • Redraw electronically – save on redraw fees when you make a redraw request via Internet Banking or Phone Banking. Download, complete and return the Redraw registration form and you’ll be ready to Redraw when you need to.

4. Calculate what you could save

Try our calculators...

See what you could save...

Home Loan Repayments

Calculate weekly, fortnightly or monthly loan repayments

Principal & Interest

See the benefits of making Principal and Interest repayments

Mortgage Equaliser Offset

Find out how much money you’ll save and how much sooner you’ll pay off your home loan

Extra Payments

See how much sooner you’ll pay off your home loan

Lump Sum Payments

Calculate how much time and interest you’ll save

Splitting your loan

See the benefits of having part of your loan at a variable interest rate and part at a fixed interest rate

Important information

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this general information, please consider if it’s right for you. If you need help, call 13 33 30.

1 Advantage Package Terms and Conditions applyA $395 annual package fee applies and is payable from an eligible St.George transaction account. The discount and fee savings apply for the duration of the package. Before deciding to acquire a St.George transaction account, read the terms and conditions, and consider if the product is right for you.

Redraw requests are subject to our approval. Fees apply. For fixed interest rate loan redraws only available for loans fixed after 30 November 2009 (up to a maximum of $10,000 or break costs may be payable).

3 Fixed Rate loan repayments up to $30,000 only, before break costs apply. For fixed rate loans taken up prior to 18 August 2019, prepayments of up to the $10,000 are allowed, before break costs. Redraw, repayments pause and rate lock requests are subject to our approval. Fees apply.