Making Loan Payments

We want to make it easy for you to make your loan payments:

It is important that you make your loan payment on time.

Contact your Lending Consultant if you need help setting up your loan payment or one of our Loan Payment Consultants on if you are experiencing difficulties making a loan payment.

Loan Payment Consultants can be contacted on 1300 138 831 during business hours or via email on payments@auswidebank.com.au.

Ways to make your loan payments:

• Regular electronic payment to your account from another Auswide Bank account. An option when making your payments by periodical payment is to nominate 'Repay'. 'Repay' adjusts your payment transfer to the minimum monthly payment required. This means when interest rates decrease or increase your payments are decreased or increased to reflect the change automatically. To arrange 'Repay' contact us in writing or send a secure email using Internet Banking.
• Internet Banking transfer from another Auswide Bank account
• Phone Banking transfer from another Auswide Bank account
• Cash or cheque deposit, or account transfer at any Auswide Bank branch
• Cheque by mail
• Cash or cheque deposit at a Bank@Post outlet (linked Visa Debit Card required - cheque deposits will only be accepted in the name of the cardholder)
• Direct credit to your account from an account at another financial institution

Making payments on time and avoiding Default Fees:

Loan repayments must be made on the Payment Due Date (as advised to you at the time of loan settlement).

Failure to make your loan payment in full by the Payment Due Date will normally result in a Default Fee and possibly harm your credit rating. These fees are detailed in your Loan Contract.

You may elect to make part payments in line with your income – perhaps weekly or fortnightly.

For example, if your Loan Payment Due Date is the 6th of the month – you need to have the full amount paid by the 6th of the month.

For new loans, your first full payment needs to be made by the Payment Due Date on the month following loan settlement. For example, if your new or additional loan settles on the 21st of the month (e.g. March) and you are advised that your Loan Payment Due Date is the 21st of the month - the first full monthly loan payment will need to be made by the 21st of the following month (e.g. April).

That means that if you are paying weekly, and your Payment Due Date is the 21st of the month, you will need to ensure that we have received the four weekly payments (consisting of your monthly payment divided by four) prior to the 21st or your full payment will not have been made.

Similarly if paying fortnightly, and your Payment Due Date is the 21st of the month, you need to ensure that we have received the two fortnightly payments (consisting of your monthly payment divided by two) prior to the 21st or your full payment will not have been made.

Financial Hardship:

If you are experiencing genuine financial hardship due to illness, unemployment or another "reasonable cause" - we urge you to contact us as soon as possible.

To receive assistance with your particular circumstances please contact one of our Loan Payment Consultants. They will work with you to arrive at a mutually beneficial solution wherever they can.

Loan Payment Consultants can be contacted on 1300 138 831 during business hours or via email on payments@auswidebank.com.au.

For useful information and advice you can visit the Australian Securities & Investment Commission's 'Managing debts' web page.