No principle repayments are required - only interest payments are made each month. This means that the loan itself is not actually repaid. Theoretically, the loan need never be fully repaid as long as interest payments are being made regularly and on time.

If borrowing for an investment purpose (i.e. a rental property, or shares / managed funds), the interest on the loan is tax deductible. For this reason, it is often recommended that you concentrate on repaying any non tax-deductible debts, prior to repaying the principal on an investment debt.

You should always speak to an accountant regarding the best way to work the repayments tax effectively.

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