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:
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Loan direct debit |
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