Split home loan

If you want a blend of payment certainty and flexibility in your home loan, then splitting your loan into smaller parts that work together could be the answer.

Benefits at a glance

  • Mix the benefits of a fixed interest rate, variable interest rate and revolving credit home loan
  • Enjoy payment certainty with a fixed interest rate portion of your loan
  • Have the flexibility to repay your loan faster with a variable interest rate portion
  • Repay and redraw funds with a revolving credit portion, within your credit limit

Is it right for me?

A split home loan may suit people who are looking to find a balance between the different loan types.

On the fixed interest rate portion of your loan, you have the certainty of knowing your payments will remain the same for the fixed rate period, so it’s easier to budget.

The variable interest rate portion of your loan gives you the flexibility to make extra payments at any time without cost, so you can pay off your home loan faster and save on interest.

The revolving credit portion gives you the convenience of repaying and redrawing funds, up to your credit limit, as you need them.



About this loan

Split your loan so it works better for you.

By splitting the amount you borrow into multiple loans, you can create the balance you want between certainty, flexibility and accessibility.

Create payment certainty

With part of your loan set up as a fixed interest rate loan you can lock in an interest rate for a set period from 6 months up to 5 years.

Because the interest rate doesn’t change, you make payments of the same amount fortnightly or montly during the selected fixed rate term.

Flexibility to repay your loan faster

With a floating interest rate loan, you have the flexibility to increase your payments, make extra payments and repay this portion of your loan at any time, without incurring early repayment adjustment costs. Within a floating interest rate loan, your payments will go up or down as interest rates change.

Access to funds you can redraw

A revolving credit home loan option works like a combined transaction, savings and home loan account.

You have a maximum credit limit and your monthly payments are interest-only. You can then repay and redraw funds up to your limit whenever you need them.

You can choose between a set maximum credit limit or a reducing credit limit to suit your needs. 

Home loan interest rates

Min 20% equity

12-month fixed rate
18-month fixed rate

24-month fixed rate

36-month fixed rate
48-month fixed rate

60-month fixed rate
6-month fixed rate
18-month fixed rate

24-month fixed rate
36-month fixed rate
48-month fixed rate
60-month fixed rate
6-month fixed rate
12-month fixed rate
Housing variable rate

Rates may change. Loan processing fee of up to $400 may apply. After the fixed rate period the Housing Variable Rate will apply. For those with less than 20% equity see here for rates.

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One of our team can meet at a time and place that suits you, or you can make an appointment to meet at an ASB branch.

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Give us a call

You can pick up the phone and call one of our home lending team, weekdays 8:00am-6:30pm and on Saturday 8:30am-5:00pm.

0800 100 600

+64 9 306 3000 for overseas

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Other options to consider

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ASB’s lending criteria, terms and fees apply.

Home loans Split home loan