What is a Required Monthly Repayment Amount and why does it change?
Last updated 09 April 2015
Your Required Monthly Repayment Amount is the minimum amount you must pay each month under your home loan contract. The amount is calculated to make sure you pay off your loan within the agreed timeframe. The repayment generally decreases as you pay off your loan however if interest rates have increased, or you have completed an introductory rate period your Required Monthly Repayment Amount may need to increase. If they do, we'll send you a home loan statement with a letter outlining the change and the date this will take effect.