What is Principal and Interest?
The latest in home loans news
Big bank home loan war as ANZ slashes fixed rates to 2.68%
Australia’s fourth largest lender, ANZ, has today slashed its fixed rate home loans by up to 0.86 per cent.
The principal part of your loan refers to the actual amount that you have borrowed. Interest is then charged on this amount at the rate set by your lender – this is the interest portion of the loan.