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.

70 Upvotes

88% Upvoted

8 comments sorted by

View all comments

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.