What are the repayment options available for RAMS Home Loans?

RAMS Home Loans offers a variety of repayment options designed to cater to the diverse needs of its customers. Generally, borrowers can choose between several repayment types, including principal and interest repayments or interest-only repayments. Principal and interest repayments involve paying back both the borrowed amount and the interest over the loan term, which can help build equity in the property over time. On the other hand, interest-only repayments mean that the borrower only pays interest for a specified period, which may result in lower monthly payments initially but does not contribute to reducing the loan balance during that time. Additionally, RAMS Home Loans may provide the flexibility of making extra repayments or paying off the loan early without incurring penalty fees, depending on the specific loan product. Borrowers can also inquire about repayment frequency options, such as weekly, fortnightly, or monthly repayments, allowing them to align their payment schedules with their finances. It is always a good idea to visit the current RAMS website for detailed information about specific loan products and their available repayment options, as they may vary over time.