Understanding your home loan repayment due date and frequency

Direct debit repayment frequency is monthly only and cannot be changed.

Repayments will be automatically taken from your nominated account on your due date each month. 

You can also make extra repayments as frequently as you like into your loan account, noting there are important limits to consider when making additional payments into fixed rate loan accounts as outlined in Making extra repayments on your home loan.

If you have an Offset Home Loan facility, you can have your monthly home loan repayment direct debited from the offset account. Direct debits are automatically taken on your due date each month and this frequency cannot be changed.

You can transfer funds into your offset account more frequently (e.g. fortnightly/weekly) where they will offset the balance of the linked home loan account, reducing the amount of interest you pay each month.

To learn more about offset benefits, please visit Understanding home loan offset accounts.

Salary credit or funds transfer payments can be made at any frequency you choose, as long as the full repayment amount is made by the due date. This repayment option is only available for variable rate home loans. This is not available for fixed rate or SMSF home loans.

If you want to switch to salary credit or funds transfer, you’ll first need to cancel any direct debit in place for your repayments via Macquarie Online Banking or Macquarie Mobile Banking app. 

Please note for home loans with a BSB starting 182, you’ll need to retain a direct debit for any applicable fees.

You’ll need to regularly check your repayments to ensure the correct amount is being paid each month.