Options to reach my goal quicker
There are a number of options to consider if you want to accelerate your saving or achieve your goals faster. You could consider the following:
- Review your budget to identify and cut out unnecessary spending
- Consider options to accelerate your savings through dollar cost averaging or compound interest
- Borrowing to achieve your goals.
If you’re looking to grow your investments, start by taking advantage of your home loan.
Pay off your home loan as fast as possible 1
One of the best ways to build wealth faster is to pay off your home loan as soon as you can. You’ll save on interest and increase the equity in your home, which you can then use to invest. You can make extra repayments on all our home loans, even our fixed rate loans. Paying off your loan fortnightly or weekly can also have a significant effect on the term of your loan. Compare the difference using our repayment comparison calculator.
In addition, our Rocket Repay Home Loan provides a linked 100% offset transaction account. This means that every dollar in your transaction account reduces the balance in your loan. The more funds in your account, the less interest you’ll pay, and the quicker you’ll pay off your loan.
Use the equity in your home 1
If your biggest investment so far has been in property, it has probably increased in value. You can use the equity in your home to diversify into other asset classes like shares.
Our Equity Access Loan helps you make the most of the equity that you have in your property to achieve your plans for the future faster.
With Equity Access, you can access up to 80% of the value of your property to make investments or to achieve other plans that are important to you.
