Understanding home loan repayments

Things you need to know about how home loan repayments work and why they might change over the life of your loan.

Manage your home loan repayments

  • Direct debit repayments

    To manage your CBA direct debit repayments where the linked bank account is in your personal name(s), you can do so via the following options:

    • NetBank, for changes to repayment amounts and frequency;
    • To set up or cancel direct debit, or make any other requests, you can contact us or visit your nearest CommBank branch.

    For direct debit requests (DDR) from another financial institution or from any accounts not in your personal name(s), please review and complete the DDR form before contacting us.

    Complete DDR form

  • Increase or decrease your repayments

    If you have a variable rate home loan with us and you’re paying Principal and Interest, you can:

    • increase your repayments to pay your home loan off faster and reduce the interest you’ll pay over time 
    • reduce your repayments to free up some cash, provided we’ve reduced the interest rate or you’ve gotten ahead on your loan by making extra repayments

    We’ll need to check that your new repayment amount allows you to repay the loan in the remaining loan term.

    If you have a Fixed Rate home loan, are paying Interest Only or are otherwise unable to make changes yourself in NetBank, contact us. If there is more than one person authorised to operate on the loan, you’ll need to visit your nearest branch to make any changes.

    Change in NetBank

  • Monthly, fortnightly or weekly repayments

    If you have a Variable Rate home loan and make Principal and Interest repayments, you can choose to make your home loan repayments monthly, fortnightly or weekly.

    For Interest Only payments, you can only pay monthly.

    Change in NetBank

  • Interest Only vs Principal and 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 Interest Only
    • Interest Only repayments will lower your minimum monthly repayment amount, but you'll pay more interest over the life of your loan

    Tell me more

  • Switch to a Principal and Interest home loan

    • To switch in NetBank, go to 'Settings' and 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

Changing circumstances

If your circumstances change unexpectedly, accessing additional home loan repayments you’ve made could be an option.

Tell me about accessing additional repayments

Repayment relief

If your circumstances do change, and you think you’ll find it difficult to meet your required repayments, we can help.

Talk to one of our lenders to discuss your options, which can include extending your loan term to reduce your required monthly repayments.

Contact us

Home Loan Compassionate Care

Complimentary protection may be available for your eligible Owner Occupied home loan repayments if you or your spouse or dependant is medically certified with a terminal illness or passes away. 

Discover Home Loan Compassionate Care

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Get instant answers from our virtual assistant, or connect to a specialist to discuss your options. Make sure you have notifications for the CommBank app turned on.

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Things you should know

  • As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. You should also read our Financial Services Guide.