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Interest is calculated daily. So if you make a $1 payment on the 1st you will be saving 1 x 5%/365 per day in interest. If you wait 30 days to pay you would be accruing interest on interest. So you should pay as quick as possible. But you could not pay daily as to do this you would have to...

The real difference is the tax treatment. You could redraw extra repayments from a loan but this would create a tax nightmare if you used redrawn funds for private expenses.

If you are depositing money into a loan it won't matter if it is PI or IO. If the rate is the same it would be decreasing at the same rate. if you have no PPOR you should consider that maybe you will one day want one. So set up a IO loan and build up excess cash into the offset. That way when...

I dont think you full graps the concept. With all loans (with major lenders anyway) interest is charged daily and added monthly. This is the case with Interest Only loans too. Most loans also allow extra payments. So if you had an Interest Only loan you could pay it weekly. Each...