Making Loan Payments

When you have a home loan, line of credit, business loan or business overdraft we want to make it easy for you to make your loan payments:

There are different ways to make your loan payments.

It is important that you make your loan payment on time especially if you are making weekly or fortnightly payments or you could incur a Default Fee.

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

Ways to make your loan payments:

Regular electronic periodical payment to your account from another Wide Bay Australia 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 'smartlink' Internet Banking.
'smartlink' Internet Banking transfer from another Wide Bay Australia account
'smartlink' Phone Banking transfer from another Wide Bay Australia account
Cash or cheque deposit, or account transfer at any Wide Bay Australia branch
Cheque by mail (deposit forms for this purpose are available on request – a fee applies to deposits made without a completed deposit form)
Cash or cheque deposit at a Bank@Post outlet (linked Loan Express Cashcard or Cashcard 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:

Your loan payment is due on the 24th of each month. Failure to make your loan payment in time 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 – you still need to have the full amount paid by the 24th of the month.

For example, if your loan settles on the 21st of the month - the 1st monthly loan payment is due on the 24th of the following month.

That means that if you are paying weekly, you will need to ensure that we have received the four weekly payments (consisting of your monthly payment divided by four) prior to the 24th or your full payment will not have been made.

Similarly if paying fortnightly, you need to ensure that we have received the two fortnightly payments (consisting of your monthly payment divided by two) prior to the 24th or your full payment will not have been made.

If you are experiencing difficulties making a loan payment contact your Loan Consultant or alternatively one of our Loan Payment Consultants to discuss your situation.