If you make a lump sum payment towards your Choices Fixed Home Loan during the fixed rate period you may need to pay a prepayment cost. A prepayment cost is the cost to us of breaking the loan. We determine the cost on the basis of a formula. There will also be an administration fee of $20 to process the prepayment (as detailed in the Transaction and Service Fees brochure ).

You can ask us at any time to estimate the cost of prepaying all or part of your Choices Fixed Home Loan. Here's a copy of the formula and examples of how it works.