Your fixed rate term is ending. We’re here to help.
When the fixed rate on your home loan ends, you’ll have several options available to you. To help you understand what they are and to plan accordingly, we’ve created this helpful guide.
Packed with useful articles, products, and tools to help you manage the change, the information below is your one-stop shop to ensure you’re ready.
Keen to know your repayments?
Enter your home loan details and quickly estimate your new repayments
Your repayment changes
with an interest rate of 6.25%
This calculator provides general information only and should not be relied on to make a decision about a financial product. You should consider obtaining advice from an appropriately licensed financial services professional before making any financial decisions.
Important information
New repayment is for the repayment type, interest rate, loan balance, and years remaining on loan that has been input. It assumes the interest rate remains the same for the term of the loan. Changes in interest rates, loan balance and loan term will affect the new repayment amount.
The results from this calculator should be used as an indication only.
The outputs are based on a 364 day year; one year is assumed to contain exactly 52 weeks or 26 fortnights. All months and fortnights are assumed to be equal. Given some months are longer than others interest charged will vary depending upon the month.
The calculations do not take into account fees, upfront costs, charges or other amounts that may be charged to your loan (such as monthly or annual service fees). Continuing fees and charges will affect the repayment amount.
The calculator assumes that interest is charged to the loan account at the same frequency as the repayments are made. In practice, there may be differences between the timing of the loan repayments and the timing of the interest charges being added to the loan balance.
The amounts shown are rounded to the nearest dollar.
Tips to help you reduce the interest on your home loan
There are a number of things you can do to reduce the interest payable on your home loan. If you require more information about any of these options, please feel free to contact us on 133 282.
Frequently asked questions
If you are concerned about your ability to cope with this change, a range of options exists to help you. Please call our team of experts on 133 282.
Yes, but an Early Payout Cost^ may apply if the loan is terminated during the fixed rate period.
We will be in touch as the date of your fixed rate expiry approaches. Please see our fixed rate expiry page for more details about what to expect.
No, you’ll not be affected by variable interest rate changes during your fixed rate term. However, once your fixed rate period expires, you will revert to the variable rate product specified in your loan contract.
Refixing doesn’t mean you can simply extend the term of the fixed rate you had before. If you choose to refix, it must be at your lender’s current fixed rates. You can choose to refix your loan at any time. However, if you choose to end your current fixed rate period early, an Early Payout Cost may be applicable^.
You’ll receive an email to let you know of any change to the variable interest rate shortly after any decision has been made. You’ll also be notified of your new minimum repayment amount in a letter soon after the change is effective.
Your home loan options explained
If your fixed rate term is due to expire soon, it pays to understand your options to ensure you’re getting the best deal.
We understand that you may have concerns about being able to make your new repayments. To find out options that may be available to you, go to our Financial Assistance page.
Mon - Fri: 8:30am - 5:00pm (AEST)
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply. Applications are subject to credit approval.
1 You must maintain a minimum balance of $500 in each offset account to obtain an offset benefit. You will also not receive any interest on the funds in your offset accounts.
2 A $200 minimum withdrawal amount applies for redraws conducted in-branch.
3 A daily transfer will refund any amounts paid in advance in excess of the total advance repayments allowed during the fixed rate period ($30,000 ) unless sufficient to pay out the loan in full (in which case an Early Payout Cost may apply ). Excess funds will be transferred to the nominated deposit account, which must remain open for the fixed rate period.
^ An Early Payout Cost may apply if the loan is terminated during the fixed rate period. A partial Early Payout Cost may apply if a reduction to the principal is requested during the fixed rate period. Click here to view the Early Payout Cost Factsheet.