Things to know about home loan repayments

  • A repayment is a payment you make in instalments to your lender to repay your loan within the contracted loan term.
  • Loans may have an option to make either principal and interest repayments or interest only repayments.
  • A direct debit is one way to make your minimum repayment amount. It’s a regular automatic payment, which you authorise NAB to withdraw from your nominated account at a set frequency. The amount may change if your minimum repayment amount changes.
  • You can also choose to make your minimum repayments via a recurring transfer (also known as a regular automatic payment). It’s a self-managed payment that you set up from your nominated account at a recurring frequency. You pay the same amount every time.

Steps to set up home loan repayments from a NAB account

Direct debits

A direct debit can be set up at any time for your home loan. We accept payments from both NAB and non-NAB accounts.

With new home loans, you can ask us to set up a direct debit so your repayments can automatically be paid from a nominated account to your NAB loan account. We’ll collect and confirm your instructions before settlement, so you don’t have to worry about missing your first repayment. These payments can be made weekly, fortnightly, or monthly and can be set up to automatically adjust if your minimum repayment amount changes.

If you already have a home loan with NAB, call us on 13 22 65 to set up a direct debit.

Recurring payments

If you prefer not to set up a direct debit, you can set up a recurring transfer from a nominated account into your NAB home loan account. Recurring payments will not automatically adjust if your minimum repayment amounts changes. If your minimum repayment amount changes, you’ll need to adjust the amount you’re paying to ensure the loan is paid out within the contracted loan term.

The NAB app

Instructions for mobile devices

  1. Log into the NAB app on your device.

  2. Tap Transfer & pay. If you’re using an Android phone, tap the Menu icon first.

  3. Select the account you want to transfer from.

  4. Tap Transfer and then choose the loan account to transfer funds to.

  5. After you enter the amount, Tap Pay when.

  6. From the top banner, tap Recurring and select the frequency and start date. You can choose to set your recurring repayments until further notice, a specific end date or number of transfers.

  7. Tap Next.

  8. Review your details and tap Pay.

NAB Internet Banking

Instructions for web browsers

  1. Log into NAB Internet Banking with your 8 to 10-digit NAB ID and password.

  2. Tap the Menu icon first and select Transfer & Pay.

  3. Select Transfer, and choose your accounts you want to transfer between, as well as the amount.

  4. Tap Recurring and select the frequency and start date. You can choose to set your recurring repayments until further notice, a specific end date or number of transfers.

  5. Tap Next.

  6. Review your details and tap Confirm.

Set up repayments from a non-NAB account

If you wish to set up a direct debit from a non-NAB account, download and fill out the Direct Debit Request form (PDF, 541KB), opens in new window and email it to loanmods@nab.com.au.

You can let us know if you’d like us to automatically adjust the amount you’re paying if your minimum repayment amount changes. Otherwise, you’ll need to adjust the amount you’re paying to ensure the loan is paid out within the contracted loan term. 

You also have the option to use your own financial institution’s internet banking to set up recurring transfers from your non-NAB account to your NAB home loan account to make repayments.

In this instance, if your minimum repayment amount changes, you’ll need to adjust the amount you’re paying using your financial institution’s internet banking to ensure the loan is paid out within the contracted loan term.

Things to know about changing home loan repayments

  • You can reduce your repayment if you’re ahead of your loan.
  • You won’t be able to change the frequency of your repayment unless you’re at least one payment ahead.
  • The date of your repayments will stay the same.
  • If you have a standard variable rate home loan, you can increase your repayments and make unlimited extra payments.
  • With a fixed rate home loan, you can make up to $20,000 in additional repayments during the fixed rate period without incurring economic costs.

Steps to change your home loan repayments

It’s quick and easy to modify your home loan direct debits and recurring transfer payments in the NAB app and Internet Banking. Follow our guides to learn how.

The NAB app

Instructions for mobile devices

  1. Log into the NAB app.

  2. Tap More. If using an Android, tap the Menu icon.

  3. Tap My payments.

  4. In your ‘Future payments’ list, select the regular payment you want to modify.

  5. Tap Modify payment. You can also choose to Cancel payment.

  6. Make changes to the receiving account, amount or reference if needed.

  7. Tap Pay when to update the payment date.

  8. Tap Set start date.

  9. Select a date starting the following day.

  10. Make any other changes to the frequency and duration if needed. Then, tap Apply.

  11. Tap Next.

  12. You may receive a ‘Protect yourself from fraud’ message if your payment has indications of a potential scam. You can review the details before you continue, change or cancel your payment.

  13. Confirm all details are correct and tap Pay.

  14. Authorise the payment by entering your passcode or password.

  15. The payment is successfully updated. Tap Share receipt to share the new details.

NAB Internet Banking

Instructions for web browsers

  1. Log into NAB Internet Banking with your 8 to 10-digit NAB ID and password.

  2. Select Transfer & Pay.

  3. Select ‘Payment list’ in the drop-down menu.

  4. Find the payment you are looking for and select Modify.

  5. Make changes where needed, you can also cancel the payment permanently.

  6. When making changes, be sure to do this at least the day before the payment is scheduled to be paid.

  7. Select Next.

  8. You may receive a ‘Protect yourself from fraud’ message if your payment has indications of a potential scam. You can review the details before you continue, change or cancel your payment.

  9. You may receive a security code via SMS or push notification.

  10. Select Submit.

  11. You have now edited a recurring payment.

  12. Save and share your payment receipt by tapping the printer icon.

Having trouble changing your repayment?

If you're unable to modify payments online, tap on the NAB Messaging icon in the NAB app.

The Modify Payment option isn’t enabled on your NAB app if:

  • the home loan account has multiple direct debit payments setup
  • no direct debit payment has been set up
  • the direct debit payment frequency is a non-standard frequency (i.e., yearly, half yearly)
  • the transaction account is not a NAB account
  • the loan account holder doesn’t own the transaction account
  • the transaction account requires more than one customer to authorise the changes
  • there are any account restrictions on the debit account or home loan account (credit account).

Don’t have the NAB app?

Download the app today for a more convenient banking experience.

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Important Information

These products are issued by National Australia Bank Limited.

NAB recommends you consider the  NAB Internet Banking terms and conditions document, before making any decisions regarding this product.

The NAB Mobile Banking app is compatible with Android and iOS, minimum platform requirements apply. Android is a trademark of Google LLC. The Google Logo is a registered trademark of Google Inc. iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.