Helping you understand why your home loan repayment may change and how to easily manage them.
If your home loan minimum repayment has increased
Why has your minimum repayment increased?
Your minimum required repayment may have increased because you have had one or more of the following things happen:
Your fixed term, interest only or introductory interest rate period has ended, so the interest rate used to calculate your repayment amount has changed
The interest rate for your home loan has increased
You’ve taken money out of your available redraw balance
What happens next?
If you have a direct debit, we’ll update this for you so that you can meet your repayment obligations. Just make sure you have enough money in your account.
You can see and manage your repayments in the Account Information page in NetBank. Keep in mind, you won’t be able to make any changes until the new minimum amount is effective.
If you pay by salary credit, NetBank transfer or any other way, you’ll need to increase the repayment amount yourself.
If your home loan minimum repayment has decreased
Why has your minimum repayment decreased?
One or more of the following has happened:
You made additional repayments into your home loan, and have more money available to redraw
The interest rate for your home loan has decreased
What happens next?
We won’t make any changes to your direct debit so you can choose what’s best for your situation.
Leave your repayments as they are if you want the flexibility to pay off your loan sooner
You may want to reduce your direct debit to your new minimum repayment at any time to free up some cash if you have additional expenses
How to manage your repayments
See how to make changes to your repayment
Watch a short video about your repayment options to set up your home loan to best suit your needs. Whether you want to repay your loan within the agreed term or sooner, you have the flexibility to manage your repayment.
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.