Home > Interest rates articles
Interest rates articles
16 articles found
Principal and Interest (P&I) Home Loans: What Are They & How Do They Work?
When applying for a home loan (or mortgage), there are many things to consider but one of the most important is how you will repay it. Generally, there are two …
Continue reading "Principal and Interest (P&I) Home Loans: What Are They & How Do They Work?"
Written by Katie Douglass
• 01/04/2021 • 5 minute read
WARNING: Do you really need a loan today?*
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, call 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
- If you are on government benefits, ask if you can receive an advance from Centrelink: www.humanservices.gov.au/advancepayments.
The Australian Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
*This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.