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Changes to your loan repayments

Choose your type of home loan

ANZ Fixed home loan

ANZ Standard Variable home loan

Have your repayments changed?

Your loan repayment amount may change if a fixed rate term has expired, or if an interest-only period has ended. If you have a variable rate loan, changes to interest rates may also have an effect on your repayment amount. Contact our home loan specialists to discuss your options. 

How to make a change

If your loan has a fixed rate term that’s expiring, or if you’d like to switch between principal and interest and interest only or vice versa, then contact us and one of our home loan specialists will talk to you about your options.disclaimer Consider using our Repayments Calculator to see if another home loan option may work better for you.

ANZ Fixed home loan

What do I do when my fixed rate finishes?

If you’re coming to the end of your fixed rate period, you have a few options depending on what is important to you.  Regardless of which one you choose, your loan repayment amount may change.

1. Move to a Variable rate

Once your fixed rate period ends, you will automatically roll onto a variable rate unless you choose otherwise.  

The benefits of choosing a variable rate include:

  • Redrawdisclaimer – Once you’re on a variable rate, if you make additional repayments, you can access those funds using ANZ Redraw.  
  • ANZ Onedisclaimer offset account  – The money you have in this account could offset the amount you owe on your home loan and you'll only be charged interest on the difference.
  • Pay off your loan faster – No extra fees for making additional repayments whenever you can.

However, it’s worth noting that rates can move up (or down) over the life of your loan. Consider whether you can afford higher loan repayments if interest rates go up.

2. Refix

You can apply to refix for 1 to 5, 7 or 10 year terms. Terms and conditions and fees and charges apply.  

Some benefits of a fixed rate include:

  • Budgeting – Because your interest rate is fixed, you'll know exactly how much your loan repayments will be during the fixed rate period. That means you can budget accordingly.
  • Rate changes – If interest rates rise during your fixed period, your interest rate will not be impacted until your fixed rate period expires.

However, with a fixed rate loan, you need to know that if you repay the loan or switch to another one before the end of your fixed term, or make early or additional repayments, you may have to pay an Early Repayment Cost (which may be very large). ANZ Fixed Rate Loans - What happens if you repay some or all of it early? (PDF 196kB)

Get advice

If you’d like to talk with someone about your options, one of our home loan specialists in one of the following ways:

  1. Call us on 1800 035 500
  2. Request a call back via our enquiry form. Please include ‘fixed rate expiry’ in the questions section.

Contact your existing home loans specialist.You might also want to consider using our Repayments Calculator to see if another home loan option may work better for you.

ANZ Standard Variable home loan

Want to change from a variable to a fixed rate?

If you're looking to make a change to your variable rate home loan or residential investment loan, we may be able to help. Be aware that with a fixed rate loan, you need to know that if you repay the loan or switch to another one before the end of your fixed term, or make early or additional repayments, you may have to pay an Early Repayment Cost (which may be very large).

ANZ Fixed Rate Loans - What happens if you repay some or all of it early? (PDF 196kB)

Not sure which type of home loan to choose?

Choose a variable rate if you: 

  • Want to make extra or early repayments on your loan 
  • Might need to redraw your money 
  • Don’t mind interest rates changing

Choose a fixed rate if you: 

  • Prefer certainty in your repayments 
  • Want to fix your interest rate for a set amount of time 
  • Need to set a budget and stick to it

Important information

Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the Terms and Conditions and Product Disclosure Statement, which are available at anz.com or by calling 13 13 14, before deciding whether to acquire, or continue to hold, the product.

Applications for credit are subject to ANZ’s credit approval criteria. Terms and conditions, and fees and charges apply. Australian credit licence number 234527.

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Terms and Conditions and eligibility criteria apply to ANZ Redraw. ANZ Redraw is not available on loans in a company name. For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF 412kB).

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Terms and Conditions, fees and charges apply. Refer to ANZ Personal Account Fees and Charges booklet (PDF 139kB).

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