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Home loan repayment options to help manage your cashflow

Unexpected events like job loss or illness can have a huge impact on your income. When that happens, we’re here to help.

If you’re a home owner or property investor, there are several ways you could ease your cashflow. One way is to adjust your repayment frequency or amount. Find out more.

If you're experiencing financial hardship, find out how Westpac Assist can help.

Remember to consider all the options based on your individual needs and if there's an option that works for you, call us on the Westpac App or on 132 258.


Want to free up some extra cash? Consider reducing your home loan repayments to the minimum amount. You may be eligible if:

  • You have a variable rate home loan.
  • Your repayment type is principal and interest.

  • You are currently paying more than the minimum amount on your home loan. 

What you need to know:

  • The duration of the loan (based on your home loan contract) remains the same to ensure your loan is repaid within the original term.
  • You can change your repayment option anytime via the Westpac App, or call 132 032.


You can change the repayment amount and frequency in a few simple steps using Online Banking or the Westpac App.

In the Westpac App

  1. Search Direct Debit in the Smart Search bar
  2. Tap the loan you want to adjust or manage
  3. Select the account to be debited
  4. Follow prompts to choose frequency and amount
  5. Choose Direct Debit starting day. Based on your next contractual date and the starting day chosen, select starting date from options
  6. Review and submit.

In Online Banking

  1. Select your home loan
  2. Select More > Manage direct debit
  3. Select the loan you want to adjust or manage
  4. Select the account to be debited
  5. Follow prompts to choose frequency and amount
  6. Choose Direct Debit starting day. Based on your next contractual date and the starting day chosen, select a starting date from options
  7. Review and submit.


If the debit account is a joint account, any other account holders will need to approve this request within the next 5 days.

Once submitted and approved by all account holders, your request will be processed within 2 business days. You can find the details of this request in your message inbox. We’ll notify you once the request has been completed.

Any questions, call us on 132 558.

Things you should know

Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.

This information has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice. This includes any tax consequences arising from any promotions for investors and customers should seek independent advice on any taxation matters.

Key Fact Sheet for Home Loans

Reduced loan repayments: It is important to understand that at the end of the reduced repayment period, the repayment amount will increase to adjust for the reduced repayments. This ensures that the loan is still repaid within its original term. Read the disclosure documents for your selected product or service before deciding if this option is right for you.