Reduce the financial impact of that debt payment holiday

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If you wish to still pay off your home loan in the 180 months originally left on the period of the loan prior to the debt holiday, you need to increase your bond repayments once you can afford to.
If you wish to still pay off your home loan in the 180 months originally left on the period of the loan prior to the debt holiday, you need to increase your bond repayments once you can afford to.

PERSONAL FINANCE

On these pages, we warned readers against taking the three-month payment holiday offered by the banks unless you had no option but to do so.

This is because the interest is capitalised and, like most holidays, it ends up costing you more than you realise.

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