Using your home loan

There are a few key ways to pay your loan off sooner:

1. Pay more than your minimum repayment. This reduces your loan balance sooner and reduces the interest charges you pay. Calculate what you'll save by making extra payments. If you have a fixed interest rate loan, you can repay an additional $10,000 per year before break costs may apply.

2. Use a 100% mortgage offset facility to save on the amount of interest you pay, and reduce your loan balance faster.

3. If you have a Portfolio Home Loan, deposit your salary directly into your loan. This reduces your loan balance and daily interest charges until you need to access the money.

Yes. However, depending on the type of loan you have, there could be early termination or early repayment fees payable if you repay your loan in the first three or four years. Fixed rate loans may attract a break cost if repaid within the fixed rate period. See a complete list of home loan fees.

Most of our loans do allow you to switch to a fixed interest rate, and switching is easy. Speak to one of our home loan experts on 13 33 30 and we can give you the current rates and start the process for you.

You can also compare interest rates now. Fixed rates are available for terms of one to five years. A switch fee may apply.

No. We approve an overall limit upfront and you can draw on this limit as you wish.

Yes. There is a limit on the number of free withdrawals conducted non-electronically. Charges may apply for non-electronic transactions after the first 10 transactions per month. See a complete list of home loan fees.

Yes. Our Portfolio Loan allows you to have up to ten separate sub-accounts to keep your owner-occupied and various investment accounts separate^4.

The first progress payment can be released after we receive a signed copy of the Building Contract, copies of the Council-approved Plans and Specifications, a copy of a survey (NSW only) and a signed request from you to release the funds.

Learn more about our Building Loan. We can also release funds for land settlement if this is required.

One option is to set up automatic repayments from a nominated account. Or you can transfer money from another St.George account via Phone, Mobile or Internet Banking or make a payment at any St.George branch

All of our home loan contracts require you to make monthly repayments. However, when making principal and interest repayments, you can generally choose to make your repayments fortnightly or weekly. Fortnightly repayments are calculated as half of the monthly repayment ands weekly repayments are calculated as a quarter of the monthly repayment.

The ability to make additional payments depends on the type of home loan you have. With fixed interest rate home loans, you may make additional payments (over and above your contracted repayments) of $10,000 per year without cost. If you make more than $10,000 in additional payments, you may be liable for Break Costs. You can make unlimited additional payments on a variable rate home loan. Calculate how much you'll save when you make extra repayments.

To change your repayments, please speak to a St.George home loan expert on 13 33 30. They will assess your situation and discuss your options with you.

1. Portfolio Loan (including Low Doc Portfolio Loan)

You will start to repay your Portfolio Loan or Low Doc Portfolio Loan one month after it is opened. Your monthly repayment date is the last banking day of each month. Interest is debited to your Portfolio Loan on the last day of the calendar month. (For example: You open a Portfolio Loan and draw some funds on 20 March. The interest payable on those funds will be calculated and debited to the Portfolio Loan sub-account on 31 March. You will need to make that repayment by 30 April.) We will give you the minimum repayment and due date on each of your monthly sub-account statements.

2. All other home loans

The interest on all other home loans is debited one month after the date your home loan was settled. In all cases, the first repayment payable is the monthly repayment quoted on the Loan Offer Document. Unless you have requested interest-based repayments (weekly and fortnightly repayments are not available on loans with interest-based repayments), weekly or fortnightly repayments commence immediately after the first monthly repayment. You open a Basic Home Loan with principal and interest repayments and you decide to pay weekly. Your loan is advanced on 20 March so the first repayment is due on 20 April. This repayment will be the monthly repayment. Since you have chosen weekly repayments, one week later on 27 April, one quarter of the monthly repayment will be due and will continue to be due every week from that day forward.)

You can use Phone, Mobile or Internet Banking to see the status of your home loan. Or if you would like to speak to a St.George home loan expert, please call us on 13 33 30.

Depending on the home loan you choose, there may be a penalty for repaying it early. Our introductory home loans (Discount Variable Rate and One Year Introductory Fixed Rate) carry an early termination fee based on a percentage of the loan amount as at the day of discharge. Early Termination Fees do not apply for loans approved from 3 June 2011. Where applicable, the fee will be disclosed in the Offer.

This fee is payable if the loan is discharged within a certain time frame. Other home loans have a flat fee payable if the loan is discharged within a certain time frame. These fees are clearly stated in our home loan documentation so you can make an informed decision about the best home loan for your needs. See a complete list of Home Loan fees and charges.

In this case, please speak to a St.George home loan expert on 13 33 30 as soon as you feel that you are experiencing financial difficulty.

1. Portfolio Loan (including Low Doc Portfolio Loan)

Portfolio Loan repayments are based on the amount of interest charged each month, so repayments will only decrease when the loan balance decreases. However, as Portfolio Loan sub-accounts (apart from the Primary sub-account) can have either variable or fixed interest rates, you can choose to change the interest rate of a particular sub-account to affect your repayment. If the new interest rate chosen is lower than your current interest rate then, if all other things remain the same, your monthly repayment will decrease.

2. All other home loans

Your contracted home loan repayment has been calculated to ensure that your home loan is repaid within the agreed loan term. However, we understand that during the course of your home loan, your needs may change. Our home loans are designed to be flexible enough to assist you when this happens.

In many cases, you have the option to switch interest rates from variable to fixed or to change from principal and interest repayments to interest-based repayments. Additionally, if you have been paying additional repayments, we can recalculate the home loan repayment based on these additional repayments. Please speak to one of our home loan experts on 13 33 30 to talk about your options.

We may be able help you manage your finances by allowing you to reduce the amount of repayments to your home loan for a specified period. If you have an eligible home loan and you have a legitimate period of leave from the workforce, you can request to stop your repayments altogether, or reduce your monthly repayment to an amount agreed between you and the Bank for 3-12 months.

Not all loan types are eligible, so please check your Terms and Conditions booklet. Learn more about Repayment Pause. Conditions apply.

Speak to one of our home loan expert on 13 33 30 to learn about ways that we can help you manage your finances, including applying for a Repayment Pause. Conditions apply.

Depositing your salary directly into your Portfolio Loan is a great way to help you pay off your loan faster. Complete a Salary Transfer Request Form. Fill out this form with your new BSB and account number and give it to your employer.

Our easy Internet Banking demo will show you how to make payments online. If you aren't registered for Internet Banking, call 1300 555 203 or register now.

Use our extra payment calculator to see how much you'll save in interest and how soon you'll pay off your home loan.

You can also calculate your borrowing power and more with our complete range of home loan calculators.

We offer a wide range of home loan options, so as your needs or lifestyle change, we can help make sure you've still got the loan that's suitable for you. To discuss your loan, speak to one of our home loan experts on 13 33 30.

Speak to one of our home loan experts immediately on 13 33 30 and we will work to come to an arrangement with you. This may include changing your contract in one of the following ways:

1. Switching you to a product that better suits your current financial needs

2. Consolidating all your debts into your home loan if possible

3. Extending the term of your contract and either reducing the amount of each repayment accordingly or deferring payments for a specified period

4. Where appropriate, deferring payments for a specified period of time.

A Repayment Pause permits existing home loan customers to reduce or pause their home loan repayments for a period of between 3 and 12 months.

This is only applicable to home loan customers, who meet the Eligibility Criteria and seeking assistance to manage cash flows during a period of legitimate leave from the workforce for a period of between 3 to 12 months. This is not designed for those experiencing financial hardship. Conditions apply.

If you would like to know more, please contact one of our home loan experts on 13 33 30.

Most St.George home loans allow you to split the loan into a variable portion and a fixed portion. If your home loan is currently fixed, you will need to break out of your fixed rate to split the loan and a fee applies.

A split loan gives you the flexibility of a variable interest rate loan and the security of a fixed interest rate loan. Our split loan, known as Flexible Choice, is a combination of up to four separate loan sequence loans forming one home loan secured by the same properties.

By nominating portions of your loan as fixed and the remaining portions as variable, you can protect yourself and hedge against rising interest rates. Use the flexibility of the variable portion to help pay off that part faster, particularly if interest rates decrease.

You can make extra payments of up to $10,000 per year during the fixed rate period before break costs may apply.

It's easy to register now for Redraw - then the facility is ready to use if or when you decide you need it.³ Redraw is generally available on our variable rate home loans, and for new fixed rate loans from 30 November 2009 up to an amount of $10,000 or break costs may apply.

By requesting a redraw, you can access any additional money that you have paid into your loan, above your standard repayments. You can Redraw in a branch, by calling 13 33 30 or via Phone Banking or Internet Banking. You'll save on fees if you request your Redraw using Phone or Internet Banking.