Non-Salary Transfer Loan (NSTL)

A Non-Salary Transfer Loan (NSTL) is a mortgage option where you are not required to transfer your monthly salary to the bank providing the mortgage. Your salary can continue to be credited to your existing bank account, giving you more flexibility in managing your banking relationship. Compared to a Salary Transfer Loan (STL), NSTL mortgage rates can be slightly higher, and promotional rates or special offers are less commonly offered. Although salary transfer is not required, the bank may still request you to open an account for the mortgage repayment purposes or to arrange a Direct Debit Authority from your existing bank account to collect the monthly instalments. If the repayment account is changed at a later stage, a new Direct Debit Authority or repayment instruction may need to be arranged.