Can I increase loan repayments or make a one-off payment to my variable rate home loan?
Last Updated: 11 Jul 2017
Here’s how to make an extra payment through FastNet Classic internet banking:
- Log in to FastNet Classic internet banking.
- From the Balances screen, under account type, select the loan on which you wish to make a payment.
- Select Make an Extra Payment.
- Enter the amount of your extra payment.
- Choose how your future payments will be affected, and select Continue.
- Confirm your payment.
- You will receive an email confirmation of your extra loan payment, in your notifications preview within FastNet Classic.
- There are a few other things you might like to know about making a one off payment.
- With a variable (floating) rate home loan, including Orbit and Orbit FastTrack, there are no fees for early or lump-sum repayments. You can make as many additional payments as you like (minimum amount $50) without incurring any fees.
- When you make an extra home loan payment, you can also choose to either keep your regular loan repayments the same (and therefore pay the loan off faster), or reduce your regular loan repayments by keeping the loan term the same. You can see how your repayments or your term are affected on screen.
- You can make extra payments to fixed rate home loans but not in FastNet Classic.
- If you’d like to know more about one off payments or arrange an extra payment to a fixed home loan, chat to one of our dedicated lending specialists on 0800 100 600 or drop into any ASB branch.
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