What is switching or splitting my existing Home Loan, what are the benefits and am I eligible?

See all Home loans FAQs

Last updated 02 February 2015


Enables you to change the 'loan type' (e.g. fixed versus variable) and 'repayment type' (e.g. principle and interest versus interest only payments) of your existing Home Loan / Investment Home Loan without the need for a new loan application to be completed.

As an existing customer with us, switching your home loan to a more suitable option is easy. Best of all, your loan number stays the same, so you don't have to worry about changing any direct debit or salary credit arrangements you've set up with your loan.


Enables you to split your existing Home Loan / Investment Home Loan into multiple loans (e.g. fixed and variable rate loans or multiple loans of the same loan type such as variable/variable) without the need for a new loan application to be completed.  

Splitting your loan into different components may help you to reduce the impact of interest rate fluctuations while retaining the features and benefits you want. For example a fixed rate loan gives you the confidence of knowing how much your repayments will be and protects you against rate rises. In comparison, a standard variable rate loan allows you to make extra repayments and gives you the flexibility to redraw them at any time.

Splitting one loan into multiple loans will result in more than one loan number.         
View the Switching Terms and Conditions brochure.


Many loans can be switched. To see if your home loan is eligible for a switch or split you can use our Switching matrix.

Log on into NetBank, hover over the More tab, under the Manage accounts heading select Manage my accounts and then the Switch my home loan link. We will keep you informed of the progress along the way.

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