Table Loan (otherwise known as Principal and Interest loans).
This is the most common type of loan. The term of repayment can be anything up to 30 years with payments able to be made weekly, fortnightly or monthly to suit. Most of your early repayments go to pay interest, while most of the later repayments go to paying off the principal (the lump sum you originally borrowed). As a general rule try to pay as much as you can in the early years of your loan (over and above your standard amount) as it will save you thousands of dollars in interest and reduce the overall term of your loan substantially.

Revolving Credit Loan (sometimes called line of credit).
These loans work like a large overdraft. Your income goes straight into this account and bills are only paid out when they are due. By keeping the loan as low as you can at any time, you pay less interest because lenders actually calculate interest daily. You can make lump sum deposits and re-draw money up to your limit.

While this may sound like a good option, it only tends to work well for people with a substantial income surplus and exceptional spending discipline. If not, you will stay in debt longer and the loan becomes very counter-productive!

Interest only Loan.
As the name suggests, you are only paying the interest portion being charged to you. As such, the loan balance remains at the initial loan level, with the loan to be paid in full at an agreed time in the future. This type of loan is most commonly used for property investors, especially if they also have a separate personal, non tax-deductible loan in addition to the loan for investment purposes.

Reducing Loan.
Reducing or straight-line mortgages repay the same amount of principal with each repayment, but a reducing amount of interest. Payments start high but reduce in a straight line over time. These structures are relatively rare in New Zealand because in most cases there is as much advantage in having a table loan, with higher repayments initially.