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ASB offers home loan extra payments online
15 February 2013
ASB offers home loan extra payments online
Additional payments make a big impact on loans over time
From today ASB customers can transfer money directly from their bank accounts onto their variable home loans through ASB’s FastNet Classic online banking service.
Customers with variable home loan rates can login to Fast Net Classic, view all available account balances and make an extra payment of $50 or more directly onto their home loan, allowing new flexibility in managing personal finances.
“Customers wanting to reduce their home loans can now choose to put extra household money directly towards paying off their home loan without having to email, call or visit a branch,” says Shaun Drylie, ASB General Manager of Product and Strategy.
“When it comes to home loans, even the small payments can add up. We want to give our customers the freedom to put the small extra amounts they have towards paying off their home loan.”
On a $250,000 loan with an interest rate based on a standard floating rate of 5.75% per annum, a single $1200 payment per year, roughly the cost of a cafe-bought coffee per day, for the 30 year life of the loan would save over $46,000 in interest and take four years off the term of the loan.*
ENDS
ASB Bank
Helping you get one step ahead.
In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.
ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want.
We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
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