We offer several ways to pay your loan account - via Direct Debit, BPAY® or in person - whatever suits you best.
- Direct Debit: the easiest and quickest way to pay off your loan is with a direct debit. To set up a direct debit, complete the online Direct Debit Request form to arrange for funds to be debited from your nominated account and credited to your loan account. No payment handling fee applies to direct debits.
- BPAY®: you can make payments electronically using your bank's phone or internet banking service. BPAY is available 24 hours a day, seven days a week. BPAY transactions can take up to 24 to 48 hours to process onto your account. Please note a payment handling fee applies for all payments made via BPAY to pay your loan account.
- Australia Post: simply take your payment card and pay at any Post Office. Be aware that a payment handling fee applies to each transaction.
Frequently asked questions
I see ‘Monthly Repayment’ on my statement, but I pay weekly/ fortnightly?
Your loan contract will advise you of your minimum monthly payment, which will also be shown in the app. You can choose to split the payment into weekly or fortnightly amounts which will be debited from your nominated bank account at your nominated frequency.
What does ‘Maturity Date’ mean?
This is the date in your loan contract that your loan is required to be paid off in full. This date does not change if the loan is paid off early or late.
Will my interest rate change?
Depending on the product, your interest rate may change. Refer to your loan contract for your agreed interest rate.
I see my repayment is due on the 31st but this month does not go to 31.
The date is based on the date the loan was started. If the date is greater than the total days in that month, your due date will be the last day of that month.
Will I be charged a fee for making extra payments?
With a Latitude Personal Loan, you can make extra payments whenever and however you like. Be aware that if you pay off your loan before you're halfway through your original term, you will be charged an early termination fee of $300. However, there is no early termination fee applicable if you pay off the loan early throughout the second half of the loan. Payment handling fees of $1.50 apply when making repayments via BPAY®. BPAY and the BPAY logo are registered trademarks of BPAY Pty Ltd 69 079 137 518.
Can I make a payment to my personal loan in the App?
Not yet, we plan to bring this functionality to the Latitude App in the future.
How can I avoid paying late fees?
We understand that nobody likes a late fee! Paying by direct debit saves you time and the hassle of manual repayments, it also helps you to avoid fees from missed or late payments.
Make sure you have sufficient funds in your account so all direct debits and other scheduled payments can be made. You can also make additional repayments, so you pay off your loan sooner and save on interest. (Early termination fee may apply).
If something changes and you’re finding it hard to manage your repayments, don’t worry – our Hardship Care team are here to help. We may be able to tailor an arrangement to suit your needs. To learn more, visit our Hardship Care page.
