When we debit interest. Unless you’re in an interest prepaid period or have a continuing credit facility, we debit accrued interest to your account: • on your first repayment date; • monthly on the same day as your first repayment date; • if you have a construction loan, in accordance with section B.2 Construction loans; • – on the last day of your loan when you repay the fultotal amount owing; and/or • when you repay the total amount owing in full. Prepaid interest periods If you start an interest prepaid period for a home loan, we deduct all interest for that period at the start of the period. Continuing credit facilities If you have a continuing credit facility, interest is debited in arrears on the first business day of the month following the month in which it was accrued and is due and payable on that day. We deduct unpaid interest from your account on: • the first day of each month by direct debit, and • on the day you repay the total amount owing in full.
