Your guide to managing your home loan

When you get started with your home loan, you'll be advised of your minimum monthly repayment amount. This is the amount you need to cover each month, based on our interest rate, your loan amount, and your loan term, usually 30 years. Your home loan will end up being paid off by the end of your loan term if you pay your minimum repayment amount each month.

Remember your home loan has a variable interest rate, meaning the interest rate will go up or down over the course of your loan. Your minimum monthly repayment amount will also change over time. We'll get in touch when our interest rates change to let you know the new amount.

You can also check your minimum monthly repayment amount and remaining loan term at any time in our app.

Provided the minimum repayments are met, your loan payments can be altered at any time to suit your needs.

How to get ahead of your home loan

• You can make your payment a fortnightly or weekly payment. Over time this will help you pay off your home loan faster. See what difference this can make on our repayment calculator or in our app. 
• If you can pay more than your minimum monthly repayment this will also help you get ahead.

You can change your payments at any time in our app, or get in touch.

You can choose whichever payment option best suits you.

If you choose the direct debit option, you'll be able to manage your payments through our app.

Direct debit

You can set up a direct debit from your chosen bank account. This means recurring payments will be taken out from your bank account - you won't need to remember to do it yourself. You can choose if your bank account is deducted on a weekly, fortnightly, or monthly basis.

To set up a direct debit, complete the direct debit request form, please then email the completed and signed form to customer@keystart.com.au Give our team a call on 1300 578 278 or email us if you need help completing the form.

Please note - this form includes the Keystart Direct Debit Service Agreement.

BPay

You can make your loan payments using BPay. The details for your BPay are available in our app or you can get in touch with us if you need help.

BPay can be done via internet or phone banking. Here's a step-by-step guide to setting up a BPay payment.

Internet banking

Payments can also be made using internet banking. You will need to contact us to get your details to arrange this payment.

Direct deposit

You can visit your local Westpac branch to pay your Keystart home loan. You will need to provide the information below to make a direct deposit.

• Account name: Keystart
• BSB: 036 000
• Account number: 53 22 55
• Reference: Your Keystart loan number and your surname.

Centrepay

Centrepay is also a payment option for eligible customers. To find out more about this option please get in touch with us.

Salary sacrifice

Salary sacrifice may be an option if your employer allows part of your wage to be paid to your home loan. You can check with your employer and contact us for more information on this option.

You may be able to defer payments.

Life can be unpredictable and sometimes you face unexpected expenses. If you're in advance of your loan you may be able to defer or reduce a loan repayment if needed. 

When considering deferring a payment, you need to decide whether this is the right option for you. Using funds from your advance position to defer payments may result in an increase to your required minimum monthly repayments in the event of a change or recalculation of your loan, for example, a change in interest rate.

You can defer a payment yourself in our app.

How redraw works.

At Keystart we do things a little differently from other lenders. Unlike other home loan lenders, we don't have an offset account facility available to our customers. However, we do provide an alternative service called a redraw.

If you are paying above your minimum monthly payments consistently, your advance position will build up over time and you may be able to arrange a redraw.

We assess each request for a redraw on a case-by-case basis. We'll do a review of your loan situation, including any changes in your income and any other debts outside of your home loan. The amount you may be eligible to redraw will be based on this review. It may be that a redraw is not suitable based on your financial situation.

Remember that redrawing funds from your advance position may increase your minimum monthly payments to ensure the loan is still paid in full by the end of your loan term. You can check your advance amount in our app.

You'll need to get in touch if you wish to arrange a redraw.

Unable to make a payment?

At Keystart we understand life can take unexpected turns and situations change. If you're concerned about your situation or your ability to make any of your scheduled payments, please contact us as soon as possible to discuss your options. You can read more, including access to financial counsellors, on our financial difficulty page.