Different home loans have different rules when it comes to making extra repayments. Your client is unable to pay interest in advance.

To further understand the differences between the repayments, product features and online banking functionalities for 182 and 183 home loan accounts, refer to the Personal Help Centre.

 

Home Loan account with a BSB starting with 182

Home Loan account with a BSB starting with 183 

Repayment due date

Repayments are due monthly from the settlement date. Clients are unable to change their repayment due date.

Where your client has recently settled a principal increase, the repayment due date will not change and will continue on the original settlement date i.e. 28 March.

Repayments are due either on the first business day of each month or fortnightly on Fridays. Clients are unable to specify a due date but can change repayment frequency.

Repayment frequency

Direct debits for contractual repayments can only be taken monthly. If your client would like to make repayments weekly or fortnightly, they can update their repayment method to salary credit/fund transfer on Macquarie Online Banking, and need to ensure the full repayment amount is credited before the due date.

Your client may be able to change the repayment frequency. Changing the repayment frequency may result in a change to the repayment due date. To support your client with this change please see our Personal Help Centre article on managing your home loans repayments.

Repayment method

Your clients can pay by:

  • Direct debit: this authorises us to debit funds from a nominated account on a recurring, monthly basis. Please note, direct debit is monthly only
  • Funds transfer: this requires a manual repayment to be arranged by your client each repayment cycle
  • Salary credit: this requires an arrangement to be initiated by your client with his/her employer, where the employer will deposit a portion of your client’s salary into the loan account as a repayment on an ongoing basis
  • We don’t accept repayments into home loans by BPAY®.

Your clients can pay by:

  • Direct debit: this authorises us to debit funds from a nominated account on a recurring, monthly or fortnightly basis
  • Funds transfer: this requires a manual repayment to be arranged by your client each repayment cycle. This is not available for Fixed or SMSF home loan accounts
  • Salary credit: this requires an arrangement to be initiated by your client with his/her employer, where the employer will deposit a portion of your client’s salary into the loan account as a repayment on an ongoing basis. This is not available for Fixed or SMSF home loan accounts
  • We don’t accept repayments into home loans by BPAY®.
Loan direct debit
  • Your client can change their loan repayment direct debit details. To support your client with this change please see our Personal Help Centre article on managing your home loans repayments.

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