How do special repayments on fixed rate home loans work?
Last updated 02 February 2015
Special repayments of up to $10,000 are allowed in any one year during the fixed rate period. The year commences from the date that your fixed rate period begins, and each anniversary thereafter.
Where the $10,000 is not reached in any one year, the remaining amount is not rolled over to the next year. You may be charged an Early Repayment Adjustment (ERA) and an Administrative Fee if you make extra repayments to your loan of more than $10,000 within each year from the date you fixed your loan. To discuss if an ERA and Administrative Fee is applicable to you before your proceed please call 13 2224 from 8am to 8pm, 365 days or visit any Commonwealth Bank Branch.