You can request to switch your repayments from interest only to principal and interest repayments using live chat.
How do I switch from interest only to principal and interest?
When will my repayments change after I switch?
For home loans with a BSB starting 182, your new principal and interest repayment will be effective 30 calendar days after your switch request has been processed.
If you have a repayment due within 30 days of the change, the amount due will be the interest only repayment amount.
For example, if your request to switch to principal and interest repayments was processed today, and your next monthly repayment is due in a week, this repayment will be interest only (i.e. no change to the minimum monthly repayment). The following month’s repayment will be the principal and interest amount.
We’ll send you a summary of your new repayment details when the request to switch has been processed.
For home loans with a BSB starting 183, your new principal and interest repayment will be effective from your next monthly repayment after your switch request has been processed.
If you’re making fortnightly repayments, your switch to principal and interest repayments will be processed at the start of the next month and the following fortnightly repayment will be the principal and interest amount.
We’ll send you a summary of your new repayment details when the request to switch has been processed.
How do I switch from principal and interest to interest only?
For home loans with a BSB starting 182, please see Switching to or extending interest only repayments for more information on how to apply for an interest only period.
For home loans with a BSB starting 183, switching to interest only repayments is not available. To discuss your options, please get in touch with a consultant using live chat.
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