Switch repayment type

Interest Only vs Principal & Interest

  • Principal and interest repayments reduce your home loan balance and cover the interest owed each repayment. However, your minimum monthly repayment amount will be higher compared with an Interest Only loan
  • Interest-only payments will mean lower minimum monthly repayment amounts, but you'll pay more interest over the life of your loan

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Switch to a Principal & Interest home loan

  • To switch in NetBank, go to 'Settings' and then select 'Change home loan repayment type'.
  • To switch in the CommBank App, tap 'View accounts' then choose your home loan. Tap 'Manage loan' and then 'Change to Principal & Interest/ Interest Only'.

Switch in NetBank

Change your loan type

Flexible home loan options

If you need to change your home loan type to better meet your needs (from a fixed rate to variable interest rate, for example), we’re here to help. 

We can tailor a home loan that's right for you, and provide the tools and insights to meet your needs. 

Compare home loans

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Switch to a Fixed Rate Loan in NetBank

To switch in NetBank, go to 'Settings' and then select 'Change to fixed rate / refix home loan'. 

Read the switching T&Cs

Switch in NetBank

Split your existing home loan

What is a split home loan?

A split home loan is when you divide your loan into multiple parts – meaning you could nominate a portion of the loan to have a fixed interest rate, and the remainder to have a variable interest rate. How you decide to nominate the split of your loan is up to you.

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How to split your loan

To see if your home loan is eligible for a split, you can use our switching matrix. If you think splitting your home loan might work for you, our home lending experts can help you work out what’s right for you.

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Top up & add-ons

Wealth Package

Enjoy special discounts on selected loans and credit cards with our Wealth Package.

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Increase your home loan (top up)

If you’re planning renovations, want to consolidate your debts or simply need extra cash, borrowing additional money with your existing home loan could be the perfect solution.

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Apply in NetBank

Interest offset

Offset the funds in your linked accounts against the balance of your home loan, to potentially save thousands in interest and cut years off the term of your home loan.

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