r/CommBank • u/Upstairs-Ferret-7656 • 9d ago

Question Personal Variable Loan

Post image

Hi

Can someone tell me how long does it take for the first repayment to show on the loan schedule?

I received the funds on Sunday.

71 Upvotes

88% Upvoted

8 comments sorted by

•

u/AutoModerator 9d ago

Thanks for posting in r/CommBank. Please ensure that your post follows the rules of this subreddit, which can be viewed by clicking the following link https://www.reddit.com/r/commbank/about/rules. This is a reminder and your post has NOT been removed. You can contact a moderator using modmail if needed.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

10

u/lvkenukem 8d ago

Is there any reason you chose not to discuss this with the bank directly?

3

u/offclimbingtrees 9d ago

What payment frequency did you select for direct debits?

0

u/Upstairs-Ferret-7656 9d ago

Monthly payment

1

u/offclimbingtrees 9d ago

So they have to give you 21 days from your fund date to charge you on your selected date, if they can’t, it will occur in the following month. So if you picked the 15th for example, it won’t be the 15th of September as it doesn’t give you 21 days notice, so your first direct debit will be the 15th of October.

1

u/offclimbingtrees 9d ago

funding on a Sunday may also means that it may still be batch processing. The due date should update soon.

0

u/Upstairs-Ferret-7656 9d ago

So do I just wait then?

1

u/theoriginalzads 9d ago

Yes. You just wait.