 So, 20 year versus 30 year loan term options. I think when making this decision, customers might want to consider what their financial priorities are at that particular time. While some customers feel that they would like the financial freedom of paying a lesser instalment each month, others might have a long term view which says I'd like to pay off my bond far quicker. A 30 year loan term gives that financial relief every month so you end up paying less monthly instalment every month. However, your interest portion of your payment is obviously bigger in the long term. 20 year loan term repayments allow you to pay off your bond far quicker and also your interest portion of your debt becomes less than the 30 year loan term.