Manage your home loan

As an existing customer, it’s never been easier to manage your home loan in a way that suits you. Check your details and change your repayments online, change your monthly repayment amounts, you could even pay your loan off earlier than planned.

Manage your home loan online with NetBank

NetBank is the easiest way to manage your home loan, giving you 24 hour access to a range of services, including changing repayment amounts. Plus, you can review transactions as far back as two years on your loan account, view your loan statements as far back as seven years and apply for related products like a Line of Credit (Viridian) or services such as our Wealth Package. 

Find out more about managing your home loan online with NetBank

Ready to sign up for a NetBank account now? You can register online or download a registration form. Or, if you want more information take a look at our NetBank top tips.

Managing your repayments

We know your home loan goals and situation can change over time, affecting your repayments. Depending on your home loan and economic conditions, you can increase or decrease your repayments to suit your current needs.

Increasing your repayments
You could choose to increase your repayments if you’re looking to own your home sooner or build your equity to renovate or invest.

If you have a Variable or Introductory Rate Home Loan you have the choice of paying more than your required monthly repayment amount. You can consider:

• Making unlimited additional lump sum repayments when you have extra cash.
• Scheduling your direct debit or automatic funds transfer to be higher than your required repayment amount.

By paying more, you could reduce your loan term and save thousands in interest. To get started, you’ll just need to download a Direct Debit Request form and fill it in.

Find out more about increasing your repayments.

If you have a fixed rate, you can repay up to an extra $10,000 off your loan per year. If you want to repay more than that, or repay your loan in full, before the agreed maturity date of the fixed rate, you’ll need to pay an administrative fee and may also need to pay an early repayment adjustment. If you want to switch your loan to a variable rate before the agreed fixed term is over, you’ll need to pay a switching fee and may also need to pay an early repayment adjustment. View our switching terms and conditions.

Find out more about switching.

Reducing your repayments
If you have a variable rate loan and interest rates decrease, you might find that your Required Monthly Repayment Amount also decreases. However, you’ll need to tell us if you’d like your actual repayments to also decrease.

If your circumstances change, or you’re looking to free up cash each month for other things, like investments or a holiday away, you may be able to reduce your loan commitments by paying only the interest due on the loan each month¹.

Alternatively, you could extend your loan term. This will reduce your monthly repayments, as they’ll be spread over a longer loan period. If you are thinking of decreasing your repayments, use our Home Loan Calculator to estimate the minimum amount you could repay every month.

Repayment Redraw
If you’ve made additional repayments on your loan you may be eligible to redraw them. You can use this service for any reason and you have a range of options if you do decide to redraw.

Find out more about Repayment Redraw.

Understanding why repayments change

Apart from the times you choose to adjust them, repayments on your home loan may change during the loan term.

Find out more abut why repayments change.

 

Your home loan

Why repayments change

 

Important Information

1. Interest only repayments can only be made monthly. The interest only payment period may be for any term of 1 – 15 years for Investment Home Loans and 1 – 10 years for owner occupied Home Loans, irrespective of the fixed, guaranteed or discounted variable rate term.

• You will need to pay a switching fee if you change (switch) your loan type, repayment type or loan term.
• Applications for finance are subject to the Bank's normal credit approval. Full terms and conditions will be included in the Bank's loan offer. Fees and charges are payable.