Pepper Money has reduced its rates for existing home loan customers by 0.15%^. The effective date for this change is 18 October 2019.
While this rate reduction will be applied to your loan, your repayment amount may or may not change depending on how you make your repayments:
We won’t automatically reduce your direct debit repayment amount unless you would like us to.
By continuing to pay more, you are effectively paying off your loan faster. However, if you could use the cash elsewhere, there are steps you can take.
Inter Account Payment
Your repayment amount will be automatically updated to reflect the change.
Direct Credit or Salary Credit
You can keep paying the same amount, however if you would like to reduce your repayment amount, please make the adjustment after 18 October, but before your next repayment is due.
You can verify your upcoming repayment amount online using Loan Service Net or if you would like to discuss your future repayments, please contact us on 1300 650 931.
^This change does not apply to customers on fixed rate loans, or prime loans eligible for the current promotional rate received on or after 1 October 2019.