When is my first home loan repayment?
If you are on a principal and interest (P&I) loan, your first repayment is due one month after your settlement date. If your settlement date falls between the 29th or 31st day of the month, your first repayment will be due on the 28th day of the following month. If you chose to pay your loan repayments on a weekly or fortnightly basis, this payment frequency will only come into effect after your first month’s repayment.
You can check on your upcoming repayments in our app. If you want to change the date or the frequency of your repayments, give us a call on 13 30 80. You can’t choose a repayment date between the 29th or 31st day of the month.
If you’re on an interest only (IO) loan, your repayment will always be on the 1st day of the month and you cannot make any changes to your repayment date or frequency after settlement. We don’t accept interest in advance repayments.