When interest rate changes are announced, will my repayments automatically change?
Last updated 09 March 2017
If you have an 'interest only' loan your monthly interest payment will be adjusted automatically.
If you are repaying both 'principal and interest' and interest rates have increased, your Required Monthly Repayment Amount may need to increase. If it does, we'll send you a home loan statement with a letter outlining the change and the date this will take effect.
If you are repaying both 'principal and interest' and interest rates have decreased, you will need to let us know if you would like your repayments reviewed. If you leave your repayments the same after an interest rate reduction you will benefit by paying off your home loan faster.