What's changed?

Between 1 – 5 May 2020 we automatically reduced eligible home loan direct debit repayment amounts to the current minimum for eligible customers. 

This was a one-off change to your home loan direct debit repayment amount, reducing it to the current minimum required repayment. By paying the minimum, you’ll have access to extra money should you need it.

You will see this change from your next direct debit date in May. If you’re already paying the minimum, nothing will change.

We understand this may not suit your financial situation. If you would still like to pay above your minimum repayment, you can now change your direct debit repayment online. Alternatively, you can call us on 1300 113 539, visit any branch or contact your Home Lending Specialist, Relationship Manager or Broker.

If you continue to make minimum repayments, you may be charged additional interest over the life of your loan.

You can view your minimum repayment amount or make additional repayments in NetBank or the CommBank app at any time. 

See in NetBank

How it works

Which home loans does this change apply to?

This change applies to any variable rate Principal and Interest Home Loan where you are paying more than the required minimum repayment amount by direct debit.

How will I know when my direct debit has been reduced?

Between 1 – 5 May you would have seen a message in your home loan account transaction listing showing your new direct debit amount and next repayment date.

You’ll also see the reduced direct debit amount when you next repay your home loan in May.

Your options

Continue paying the minimum

If you’re happy with this change, you don’t need to do anything.  

Change your repayment to pay above the minimum

If you would still like to pay above your minimum repayment, you have the option to change your direct debit repayment.

You can change your repayments in the CommBank app or in NetBank, or by calling us on 1300 113 539.

Change repayment now

Financial hardship

For further information on home loan support, or if you are facing hardship due to impacts of the coronavirus situation, we have a range of options to help you.

Explore further support options

How to manage your home loan repayments online

You can easily change your home loan direct debit repayment amount or frequency in NetBank and the Commbank App.

Your questions answered

Why did you make this change?

CommBank is dedicated to protecting our customers’ financial wellbeing by helping them achieve their financial goals, including owning their own home. We're currently experiencing an unprecedented period of economic disruption, and it‘s important that we do our part to support our customers and communities through this difficult time. We've already seen the number of customers reducing their repayments to the minimum increase substantially in March, and this change will assist customers who may require access to the additional cash flow.

However, we understand this may not suit every customer’s financial needs. If you would like to increase your direct debit amount, you're welcome to do so at any time in NetBank or the CommBank app. Alternatively, you can call us on 1300 113 539, visit any branch or contact your Home Lending Specialist, Relationship Manager or Broker.

I have already requested for my home loan repayments to be deferred for six months due to coronavirus. Why is my direct debit still being changed?

Due to the large number of customers who've taken up the offer to defer their home loan repayments for six months, there may be a slight delay between when the request was made and when we can process this request.

If a repayment is due between the deferral request and the request being approved, the direct debit will be payable as normal. Notifications will be sent when the deferral request has been received, approved and processed. Any subsequent direct debits will be cancelled upon confirmation of the deferral request being approved and processed.

Which home loans does this change apply to?

This change applies to any variable rate Principal and Interest Home Loan where you are paying more than the required minimum repayment amount by direct debit as at 31 March 2020.

How will I know when my direct debit has been reduced?

Between 1 – 5 May you would have seen a message in your home loan account transaction listing showing your new direct debit amount and next repayment date.

You’ll also see the reduced direct debit amount when you next repay your home loan in May.

Can I make changes to my repayments?

You can submit a request to reduce or increase your direct debit repayments at any time in NetBank or the CommBank app. However, if you’re paying over the minimum on your variable rate Principal and Interest Home Loan we automatically reduced your direct debit to the required minimum payment between 1 – 5 May.

If I submit a repayment change request now, when will it be processed? 

We have expanded our capacity to process repayment change requests from 6 May in anticipation of higher-than-normal volumes. However, if your next direct debit due date is shortly after 6 May, you may want to make a one-off additional repayment by transferring funds to your home loan at any time via NetBank or the CommBank App, before your repayment change can be processed.

What if my direct debit comes from my Everyday Offset?

If you use an Everyday Offset to make your direct debit repayments, after your direct debit is reduced to the minimum there is no impact to the interest that you're charged on your home loan if you leave the additional funds in your Everyday Offset.

Why can’t I change my direct debit repayment amount online?

If you're unable to adjust your direct debit amount online and you would like to change your repayments, please call us on 1300 113 539, visit any branch or contact your Relationship Manager or Broker.

Can I still access my redraw facility once my direct debit payments have been reduced?

This change does not affect your ability to access money in your redraw. You can also make additional repayments at any time.

How do I change my repayments online?

  • To change in the CommBank app, tap 'View accounts' then choose your home loan. Tap 'Manage loan' and then 'Repayments’.
  • To change in NetBank, go to 'Settings' and select 'Change home loan repayments’.

Tools & support

CommBank My Property

CommBank My Property redefines how you view, track and manage your home loan online to help you achieve your property goals. 

See our home loan options

More coronavirus support

In the current uncertainty surrounding coronavirus, the financial and personal wellbeing of our customers and people remains our priority.  

Visit our Coronavirus Home Loan Support Page to see how we’re supporting customers.

More home loan support