Paying My Loan
General Loan enquiries
For enquiries on your loan you can call Nationwest on 1300 888 474, 9am to 5pm Monday to Friday. Alternately, an email service request can be sent to enquire about any of the following.
- Loan Balance
- Interest rate
- Current repayment amount
- Required monthly repayment amount
- Amount of funds available for redraw
- Request a statement
- Next payment due date
- Lost PIN number
On the email please state your loan ID number and a business hours contact phone number. We will call to confirm your identity, before we action your request.
Changing your loan repayments
You may wish to make changes to your loan repayments, within your required monthly repayment amount. For example paying your mortgage weekly can save you in interest costs and help you pay off your loan faster. You can choose weekly, fortnightly or monthly repayments.
You can also change your monthly loan repayment due date, change the account your repayment is drawn from or arrange for your pay office to direct credit your home loan.
To make a request for any of these changes just log on to Internet banking or contact Customer service on 1300 888 474.
Making additional loan repayments
Making additional repayments will help you reduce your interest costs and pay off your loan faster. You can do this at any time.
The following methods are available:
- Make a once off extra repayment
- Change your direct debit to a higher ongoing repayment
- Have your Wages paid directly into your home loan (Available on all in one account)
To make a once off extra repayment you can:
- Use Bpay to pay the funds into your mortgage.
- Log onto internet banking and transfer the funds
- Fill in a Client request form by either calling customer service on 1300 888 474 or visiting a Nationwest Branch.
To change your direct debit to a higher repayment:
- Log onto internet banking
- Call Phone Banking
- Fill in a Client request form by either calling customer service on 1300 888 474 or visiting a Nationwest Branch.
To have your Wages paid directly into your home loan:
This service is available on our All in one home loans.
Simply contact your pay office and give them the BSB and account number of your mortgage. You can find this information on your home loan statement, or by logging into internet banking. Alternatively contact customer service on 1300 888 474 begin_of_the_skype_highlighting 1300 888 474 end_of_the_skype_highlighting. To access your funds see the redraw section following. (Please note when your pay goes into the Mortgage it will stop the direct debit from taking out a repayment from your nominated account. Should you stop paying your wages into the mortgage for more than 30 days the direct debit will reactivate.)
Repayment Redraw
Repayment Redraw, is available on all loans except Fixed Rate loans, Redraw enables you to access additional repayments you have made on your Nationwest Loan. There are no restrictions on what you can redraw funds for.
Investment Home Loans
If you have an Investment loan and you redraw to meet private expenditure part of your future interest costs will become non-deductible for tax purposes. We therefore strongly recommend that you obtain advice from your accountant tax adviser before redrawing.
How to redraw
Taking advantage of Redraw is simple. To make a redraw simply log onto Internet Banking or Phone Banking and follow the prompts.
Alternatiely contact customer service on 1300 888 474 or visit a branch to obtain a Redraw request form. Please note if their are two borrowers on the account both will need to sign.
All in one loans
So you have paid your wages into your home loan, so how do you take funds out for day to day living. Their are now more options than ever. For new customers a debit card is now available where you can access funds from many ATM and Eftpos machines across Australia. The card can also be used overseas in thousands of ATM's. At this stage the card is only available for new home loans, but existing customers will be able to receive a card in the not too distant future.
Redraws can also be made using Phone and Internet banking. Allow 48 hours (weekdays) for the funds to reach your nominated account. Another popular option is nominating a regular redraw. This feature allows you to nominate an amount to be taken out of your home loan and put into your nominated account on a regular basis, either weekly, fortnightly or monthly.
This regular amount can be used to meet your day to day living expenses. Call customer service to organize this option. The All in one loan also allows, out going direct debits. You can arrange for, your car loan, credit card and other payments to come directly out of your home loan account. (Please note that their are limits on some transactions depending on which All in one loan you have selected. Contact your Home Loan Manager for more details)
