How will this rate change impact minimum repayments on variable home loans?

When there's a change to your variable interest rate, it will change the minimum repayment amount as long as the change is $50 or more per month.

If the change to your repayment amount is less than $50, your current minimum repayment amount will continue to apply. If this is the case, you won’t see a reduction in your minimum repayment, but the interest payable for the month will have decreased. This interest saving will be applied to your loan principal.

If your repayment amount is changing, we will notify you by mail to let you know your new minimum repayment amount. We’ll provide at least 20 days’ notice before your next repayment is due.