Frequently asked questions
You can have part or all of your salary paid straight into your home loan. It’s a simple way to stay on track with your repayments.
There are two steps:
- Set your salary to be paid into your account. Give your income provider our BSB and your account number so your pay comes directly to the bank.
- Choose how you want your income split. Once your salary is arriving, you can nominate how much goes to each of your accounts – including your home loan – by completing the salary split form and returning it to us.
If you’d like a hand filling in the form, contact us or speak with your lending manager.
A direct debit is a scheduled payment we draw from your nominated account on the agreed date and frequency. It adjusts automatically if your minimum repayment changes, helping you stay on track.
A recurring payment is a transfer you set up yourself in Internet Banking.
Both options allow you to manage your loan easily, but:
- direct debit makes repayments automatic
- recurring payments give you manual control over the amount and timing.
Setting up recurring payments is easy.
If your repayments are coming from an account with us
We can arrange for a periodical payment from your Everyday account to transfer a set amount to your home loan weekly, fortnightly or monthly. Once your application has conditional approval, a loans officer will send you a periodical payment authority to complete.
If your repayments are coming from another financial institution
We can deduct your loan repayments via electronic deposit.
Your repayment may change if:
- your interest rate moves
- your fixed or interest‑only term ends
- you withdraw funds from redraw
Redraw lets you access extra repayments you’ve already made, as long as your loan is at least one repayment ahead. Redraw isn’t available if:
- your loan balance has reached zero
- your loan is in a construction stage
- you're on a fixed‑rate (except Your Way Plus fixed, up to $10k per anniversary year).
An offset account reduces the interest you pay by lowering the balance of your home loan that we calculate interest on. Instead of earning interest like a savings account, every dollar you keep in your offset directly offsets your loan balance.
- Your offset works every day, so keeping your salary, savings or everyday funds in your offset account can help you:
- Reduce interest faster – because the interest is calculated on a lower balance.
- Shorten your loan term – paying less interest over time means more of your repayments go towards reducing your principal.
- Stay flexible – your money stays fully accessible for spending, bills or savings goals whenever you need it.
An offset account is a helpful option for members who want to minimise interest while keeping their money within easy reach.