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Home loans / Understanding the Fixed Term & Interest Only maturity on your home loan

Fixed Rate loan help guide

    • Around one month before your Fixed Rate loan is due to expire, we’ll be in touch to let you know your options.
    • You’ll have these options to consider at maturity:
      • Re-fix: You can choose a new Fixed Rate home loan (with a period between one to five years. Keep in mind the fixed period can’t exceed the remaining contracted loan term.
      • Split: You can split your existing home loan between Standard Variable Rate and Fixed Rate
      • Interest In Advance: If you’re currently paying Interest in Advance on your existing home loan, you can choose a new Interest in Advance term between one to five years if eligible.
      • Standard Variable Rate loan: You can choose to roll over to a Standard Variable Rate home loan with a range of features. If you’re happy with this option, you don’t need to lift a finger – your loan will automatically switch to the relevant Standard Variable Rate/Investment home loan applicable to your loan and repayment type (Principal & Interest or Interest Only) at the end of day on your fixed rate loan expiry date.
    • Your repayments will then change, depending on which option you choose. If your home loan repayment type is Principal & Interest, we’ll send you a separate communication after your Fixed Rate home loan has expired with details about your new repayments. If your home loan repayment type is Interest Only, your new payment amount will change straight away at maturity.
    • Keep in mind that any changes to your current Fixed Rate home loan before the expiry date may incur an Early Repayment Adjustment.
    • Keep track of when your Fixed Rate home loan will expire, so you have time to decide on a plan ahead of time. You can find your scheduled fixed term expiry date in NetBank:
      • Click the ‘View accounts’ tab, then click on ‘Account information’
      • Select your home loan account
      • You’ll then see your scheduled Fixed Rate maturity date under ‘Interest rate type’ – Expiry date
    • Note that the scheduled maturity date may not be your actual maturity date. Read more about what happens on your Fixed Term maturity date, including how to determine your actual maturity date in the FAQs below.

Tools & tips to prepare ahead

Frequently asked questions

  • What is my Fixed Rate home loan scheduled maturity date?

    Your Fixed Rate Home Loan/Investment Home Loan maturity date is the scheduled last day of your Fixed Rate term. At the end of day on your scheduled maturity date, your home loan will switch to a Standard Variable Rate Home Loan/Investment Home Loan, and the interest rate will revert to the Standard Variable Rate applicable to your loan and repayment type at the time, less any Wealth Package/Mortgage Advantage (MAV) discount.

  • What is my CommBank Green Loan scheduled maturity date?

    Your CommBank Green Loan/Investment Green Loan maturity date is the scheduled last day of your fixed term. At the end of day on your scheduled maturity date, if your Commbank Green Loan/Investment Green Loan is not paid in full it will switch to a Standard Variable Rate Home Loan/Investment Home Loan, and the interest rate will revert to the Standard Variable Rate applicable to your loan and repayment type at the time, less any Wealth Package/MAV discount. 

  • What is my 12-Month Discounted Variable Rate home loan scheduled maturity date?

    Your 12-Month Discounted Variable Rate Home Loan/Investment Home Loan maturity date is the scheduled last day of your fixed term. At the end of day on your scheduled maturity date, your home loan will switch to a Standard Variable Rate Home Loan/Investment Home Loan, and the interest rate will revert to the Standard Variable Rate applicable to your loan and repayment type at the time, less any Wealth Package/MAV discount.

    Note: The 12-Month Discounted Variable Rate home loan is no longer offered by CBA. 

  • What is my Interest Only scheduled maturity date?

    Your Interest Only maturity date is the scheduled last day of your Interest Only period. At the end of day on your scheduled maturity date, your repayments will switch to Principal and Interest for the remaining loan term. This also applies to Interest in Advance periods.

  • What is my actual maturity date?

    Your actual maturity date may occur earlier by up to four calendar days than your scheduled maturity date due to our system processing.

    The actual maturity date depends on the day of the month the scheduled maturity date falls on, and if that day is on a business day or a non-business day. 

    Note: Interest in Advance periods will mature on the scheduled maturity date, even if it is a non-business day.

  • What are business and non-business days?

    Non-business days are weekends and national public holidays. Business days are all other days. 

  • Where can I find my scheduled maturity date?

    You can locate your scheduled maturity date in NetBank. Click the ‘View accounts’ tab, then click on ‘Account information’. Select your home loan account, then:

    • You’ll see your scheduled Fixed Rate maturity date under ‘Interest rate type’ – Expiry date.
    • You’ll see your scheduled Interest Only maturity date under ‘Repayment type’ – Expiry date.

    Note that the scheduled maturity date may not be your actual maturity date. Refer to ‘How can I determine my actual maturity date?’ to identify your actual maturity date.

  • How can I determine my actual maturity date?

    You’ll need to identify your scheduled maturity date and determine whether it falls on a business day or non-business day. To determine your actual maturity date:

    • If your scheduled maturity date falls on a business day, refer to ‘Business Day Maturity Date’ section.
    • If your scheduled maturity date falls on a non-business day, refer to ‘Non-Business Day Maturity Date’ section.

  • My Fixed Rate home loan, CommBank Green Loan or 12-Month Discounted Variable Rate home loan is maturing and I just received a letter with my maturity date. Is this the correct date?

    The maturity date on this letter may not be correct. To determine your actual maturity date, please refer to the ‘How can I determine my actual maturity date?’ section.

  • My Interest Only period is expiring and the maturity date is outlined in my home loan statement. Is this the correct date?

    The maturity date in your home loan statement may not be correct. To determine your actual maturity date, please refer to the ‘How can I determine my actual maturity date?’ section.

Business day maturity dates

Scenario
If your scheduled maturity date falls on a business day which is…
Then your actual maturity date will be on…
1
The first day of the month
The same day as your scheduled maturity date, which is the 1st day of the month.
2
The 2nd day of the month and the 1st day of the month is a non-business day
The 1st day of the month.
3
The 3rd day of the month and 1st to the 2nd days of the month are non-business days
The 1st day of the month.
4
The 4th day of the month and the 1st to the 3rd days of the month are non-business days
The 1st day of the month.
5
The 5th day of the month and the 1st to the 4th days of the month are non-business days
The 1st day of the month.
6
Any other business day that does not fall into the above scenarios.
The same day as your scheduled maturity date.

Non-business day maturity dates

Scenario
If your scheduled maturity date falls on a non-business day which is…
Then your actual maturity date will be on…
1
The first day of the month
The 1st day of the month.
2
The 2nd day of the month and the 1st day of the month is a non-business day
The 1st day of the month.
3
The 3rd day of the month and 1st to the 2nd days of the month are non-business days
The 1st day of the month.
4
The 4th day of the month and the 1st to the 3rd days of the month are non-business days
The 1st day of the month.
5
On a standard weekend that doesn’t fall into the above first four scenarios, e.g. Saturday-Sunday
The previous business day.
  • Example: Saturday – Sunday standard weekend would be processed on Friday.
6
On a long weekend that doesn’t fall into the above first four scenarios,
e.g. Friday-Sunday/ Saturday-Monday
The previous business day.
  • Example: Friday – Saturday long weekend would be processed on Thursday.
  • Saturday – Monday long weekend would be processed on Friday.
7
During the week that doesn’t fall into the above first four scenarios,  
e.g. Wednesday, 25 April
The previous business day.
  • Example: National Public Holiday Wednesday, 25 April would be processed on Tuesday, 24 April.

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