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What happens when my fixed rate expires?
When the fixed rate term of your Great Southern Bank Home Loan expires, your loan will automatically roll on to the variable rate product specified in your contract.
When this happens, several options will be available to you. However, we understand that this might be both confusing and concerning for customers, particularly given how the economic climate has changed since you fixed your loan.
What to expect
Eight weeks from expiry
We will be in touch to remind you which variable rate product your loan will roll to. We will also make you aware of the options available at this time.
Five weeks from expiry
We will contact each loan account holder by mail to advise both their new interest rate and minimum repayment amount.
What if I accept a refix offer?
If you choose to refix online before your current fixed rate home loan expires, we will break your current fixed rate and refix you according to the terms of the new rate.
At expiry
Once your fixed rate has expired, your loan will roll to the variable rate product stated in your contract. Keep an eye out for a letter confirming your new repayment amount and date.
After your home loan has rolled to a variable rate
Once you have moved to the variable rate product stated in your contract, you can call us at any time to discuss other options such as refixing or splitting your loan.
Refixed your loan?
If you haven’t already heard from us, we will send you details of your new rate and repayment amount.