Modify a direct loan payment

Direct Loan Payments are an easy way to set up recurring payments to your linked ANZ loan accounts. You can set up a Bank Managed Payment, which acts as the primary loan payment method.

  • When modifying Bank Managed Payment you can only increase the payment amount.
  • You cannot reduce the payment amount or edit the frequency of payments.

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To modify a direct loan payment:

  • Go to the Home page, which is the first page you see when you log on to ANZ Internet Banking.
  • Select your loan account.
  • Select the "Create or manage direct loan payments" link.

Your direct loan payments list will display, then:

  • Select the relevant payment, using the radio buttons under the "Select" column.
  • Click "Modify payment" and follow the steps below.
Step 1 - Enter the loan payment details
  • Bank Managed Payments: the status of this field can only be changed when a single payment instruction is set up for you loan account using the Direct Loan Payment function.
    • Select “Yes” if you want a Bank Managed Payment (Direct Loan Payment) or “No” if you want a Customer Managed Payment, depending on whether this payment will be managed by ANZ or yourself.
      Note: Where you have multiple payments set up, you can create a Bank Managed Payment by removing any existing Customer Managed Payments.
  • From: select the account you are transferring funds from using the drop down list.
  • Amount: enter the amount you wish to pay. If this amount is a Bank Managed Payment, the amount cannot be below the minimum repayment amount.
Step 2 - Enter the transfer details
  • Frequency: select the frequency of the payment, using the drop down list. This will only contain payment frequencies that are valid for the selected loan type. If this is a Bank Managed Payment you cannot edit the frequency.
  • Start date: the date you would like the payment arrangement to begin.
  • Finish date: the point at which you would like the payment arrangement to end.

Select "Submit" to proceed with the loan payment.

Please note:

  • You are the only person who can change or remove a recurring payment that you have created.
  • If this is a Bank Managed Payment you must select “Until further notice (maximum of 3 years)” as the Finish Date option.
  • If your loan is currently in an interest only, progress draw down, extension or deferral period, your additional payment will automatically stop at the end of that period.
Step 3 - Read and accept the customer authorisation

Read and accept the conditions for loan repayments on the "Direct Loan Payment - Customer Authorisation" page.

  • Select "I accept".

If you don't want to proceed with this payment instruction, select "Cancel".

Step 4 - View your lodgement receipt

Once you accept the customer authorisation the "Direct Loan Payment - Lodgement Receipt" page will display, showing the loan payment details and the payment instructions.

To print this page, click on the "Print" icon.

  • A print-friendly version of the page will display. Click on "Print" to send the page to the printer.
  • If there is no print icon, please use your own browser's print function.
What happens next?
  • Depending on the loan payment requests and changes required in the loan contract, the direct loan payment may be set up straight away or sent to the Loan/Mortgage Team to process your request.
  • Your direct loan payment request may then take up to two bank business days to be processed.

Need more help?

Use our frequently asked questions to find out more about modifying a direct loan payment.

What does it mean by "Bank Managed Payment (Direct Loan Payment)" or "Customer Managed Payment" under the Payment Type column?
Can I modify the amount of my Bank Managed Payment for my loan?

Yes, but you can only increase the repayment amount of your Bank Managed Payment. 

  • You must ensure that your payments are equal to or more than the minimum repayment amount.
Can I change the frequency of my Bank Managed Payment?

If your Bank Managed Payment has already been set up, you can only increase the payment amount.

  • The payment frequency cannot be modified through ANZ Internet Banking.
How can I change the payment frequency of my direct loan payment?

You can request a change to the payment frequency of your direct loan payment by contacting the ANZ Mortgage team on 13 25 99 between 8.00am and 9.30pm (AEST), Monday to Friday for mortgages or the ANZ Personal Loans team on 1800 801 485 between 8.00am and 8.00pm (AEST), Monday to Friday for personal loans.

What happens to my Direct Loan Payments if I apply for a repayment holiday on my home loan account?

The ANZ Repayment Holiday enables you to take a break from your loan repayments by putting them on hold for three months.

  • To discuss if your loan is eligible for a repayment holiday, call 1800 100 641 between 8.00am and 11.00pm (AEST), seven days a week.
Can I set up direct loan payments from a non-ANZ account on ANZ Internet Banking?
Who do I contact if I need more information on my loan payments?

Need more help?

For further assistance please call the ANZ Internet Banking Helpdesk on 13 33 50 (International callers: +61 3 9683 8833) 24 hours a day, seven days a week.