Managing your Lombard Account
Every month, two weeks prior to your payment due date, we’ll send you a statement by post or email, depending on the option you have selected.
Minimise your interest charges
Make the most of your Lombard account and avoid paying, or minimise, interest by using your statement to keep a close eye on:
- the optional repayment you need to make to continue to benefit from the 55 days Interest Free Term, and
- Interest Free Term expiry dates.
Prefer online statements?
Request to receive email statements by registering online or contacting our Customer Service team on 1300 132 301. Setting up email statements means that you will not incur a $1 (changing to $2.50 from 20 Jan 2018) paper statement fee.
With secure 24x7 Online Access you can keep track of your transactions, past payments, outstanding balance, available credit and ensure you avoid or minimise paying interest.
With Online Access, you can:
- make payments online via BPAY®
- activate your Lombard card online, and
- update your contact details
To register for Online Access call 1300 132 301
Forgotten your password? Simply call us on 1300 132 301 and we’ll help you set up a new one.
Your Credit Limit is displayed in the top right hand corner of your statement and online. If you would like a Credit Limit review simply call us on 1300 132 301.
Minimum Monthly Payments (MMP)
Contractually, the Minimum Monthly Payment (MMP) is 3% of your outstanding balance or $30.00, whichever is greater.
For example if your outstanding balance is $5,000, then the MMP is $150.
Please note, making only the MMP will not pay out the loan amount within the Interest Free Term.
Please also note that any overdue amounts will be payable in addition to the MMP.
Pay it off, without paying interest
To calculate the monthly repayment required to pay off your loan within the Interest Free Term click here.
You can make payments on your Lombard account using one of the options below:
- Direct Debit – simply arrange to have your payments automatically debited from your nominated bank account every month at no cost.
- POSTBillPay - which is operated by Australia Post. To make a payment go to POSTBillPay.com.au or call 13 18 16. Over-the-counter payments can also be made at any post office using your statement or card. Your POSTBillPay details can be found on your statement.
- BPAY – which is made available through your Financial Institution. BPAY allows you to pay online or over the phone. Your BPAY details can be found on your statement.
NOTE: Payments made by methods other than Direct Debit will incur a $2.50 Processing Fee.
First payment due date
Your first repayment is due 55 days after your Lombard account is established.
Fees & charges
A $99 Annual Fee is debited to your Lombard account on the account open date and then charged annually on the anniversary of the account open date. This amount forms part of your outstanding balance.
The Annual Fee needs to be paid in full as part of your first repayment to avoid being charged any interest on the Annual Fee. Please look out for the amount listed on your first statement as ‘Optional Repayment – 55 Days Interest Free’ and pay this amount in full to avoid interest charges.
Annual Purchase Rate
The Annual Purchase Rate is charged on any balance outstanding after an Interest Free Term. That is, it's charged on what you owe, not the entire purchase price. Interest is calculated daily on the unpaid balance and applied monthly on the last business day of the statement period.
Other fees and charges
For all other fees and charges refer to the Product Schedule.
View the full list of fees and charges here
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