Priority Banking
Tax Loan
Straight Line Repayment Method
This method makes budgeting easier since you repay by regular, equal instalments (subject to interest rate fluctuations).
Graduated Repayment Method
As you earn more, you can pay back more - so you complete the term more quickly and save on interest charges. This method increases your monthly instalments every year by the percentage of your choice as your annual salary increases. You can stop the automatic increase at any time.
Reducing Balance Method
Each month your monthly instalment amount decreases as the outstanding principal decreases. Your principal is repaid equally over the repayment period and interest is calculated on the outstanding principal.
Deferred Repayment Method
To make it even easier for you in the first year of home ownership, you can defer repayment of up to 30% of your total loan amount for one year (includes principal plus interest)