A revolving credit home loan may suit you if you want a flexible loan that allows you to repay and redraw up to your credit limit at any time. Your available funds are always on call, so you don’t have to reapply when you need extra funds.
It may be suitable if you have a fluctuating income. Or if you want to direct your income into your home loan account lowering your balance and therefore reducing interest costs, until you need to use the funds again.
Revolving credit home loans are on a floating interest rate, so you should keep in mind your interest rate and payments may go up or down in line with market conditions. So if you’re looking for payment certainty, you might like to consider either a fixed interest rate home loan or have a combination of both fixed and floating.
Our revolving credit limits start at $10,000 and can go as high as $1,000,000 depending on your financial situation.
Because your home loan and your transaction account are combined, you can access your credit limit at any time, and use this account for your everyday banking. Directing your income into this account will help lower your loan balance, helping to reduce your interest costs. Then when you require funds for things like the monthly bills, simply withdraw it within your credit limit.
This loan has a variable (floating) interest rate so it may increase or decrease in line with market conditions.
Choose a payment option that suits you. With revolving credit you have the option of an Orbit Home Loan; where your credit limit stays the same over the life of the loan, or an Orbit FastTrack Home Loan; where the credit limit reduces regularly. A reducing limit can help you with repaying the principal on your loan.
Ready to take the next step? Apply online and we’ll respond within four business hours.
Our mobile lending managers cover much of the country.
Visit us at one of our many branches across New Zealand.
We’ll help with your ASB home loan query.
Speak with one of our lending specialists 7 days a week.
ASB’s lending criteria, terms and fees apply. Loans for business purposes are excluded.Orbit Home Loans are subject to specific lending criteria and are periodically reviewed by ASB. ASB may require an updated valuation at your own cost. A $12 monthly account fee applies to Orbit and Orbit FastTrack Home Loans, which may be altered from time to time.