When are my repayments deducted?

We will always direct debit your contractual repayment on the repayment due date of each calendar month, irrespective of whether it is a non-business day. 

If the day on which your repayment is due is the 29th, 30th or 31st of a month with no such date, your repayment will be due on the last day of that calendar month.

If you have elected a balloon amount, we’ll direct debit this amount as part of your final repayment which also includes a monthly principal and interest repayment.

Your repayment due date is specified in your settlement email and can be found by logging in to Macquarie Online or the Macquarie Mobile Banking app. We also recommend installing Macquarie Authenticator to enhance the safety of accessing your account online.

Update direct debit details

To update your direct debit details:

  1. Follow the steps to register and log in to Macquarie Online Banking
  2. Select your car loan account from the account list
  3. Select I want to in the banner near your account nickname (or product name)
  4. Select View account details in the menu drop-down
  5. Select the pencil icon next to Repayment method. This will allow you to change your direct debit details.

Alternatively, you may do this via our app:

  1. Follow the steps to register and log in to Macquarie Mobile Banking app
  2. Select I want to in the banner near your account nickname (or product name) 
  3. Select View account details in the menu drop-down 
  4. Select the pencil icon next to Repayment Direct Debit.

Make additional repayments

You may make additional repayments on your loan on top of your contractual repayments via electronic funds transfer only. That is, if your account has been set up to direct debit $300 per month, any additional repayments will need to be separately electronically transferred into your loan account. You will need to set this up via the paying bank account.

By making additional payments on your car loan, you may reduce the total interest payable over the loan period. Please note that by making additional payments, this could finalise your contract early and substantial break costs may apply (on fixed rate car loans only). You must still continue to make scheduled repayments on the due date until the total amount owing is repaid in full.

Electronic transfer details can be located by logging in to Macquarie Online Banking or the Macquarie Mobile Banking app.

Note: You will not have access to any additional payments once paid. Only make additional payments if you are certain that you will not require access to this money.

Can't make an upcoming repayment?

Please call us on 02 8550 5686, 9am to 5pm (Sydney time) Monday to Friday to make alternative arrangements. It's important to call us prior to the payment due date so we can stop the payment from being debited, as we can’t prevent payments from debiting on the day they're scheduled.  

Where you have had a life event such as loss of employment, medical condition or natural disaster which may impact your ability to meet your regular repayments or some other financial obligation under your loan or lease, please contact us as soon as possible so we can work together to find the right solution for you:

Already missed a repayment?

Please electronically transfer in the outstanding amount as soon as possible. 

It’s important to make a payment arrangement as soon as possible because your credit report may be impacted. For further information regarding credit reporting, please visit Credit Smart.

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    Unless stated otherwise, this information is provided by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Finance is subject to our credit approval criteria. Terms and conditions apply and may change without notice.

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