FAQs

What is the minimum amount to redraw out of my loan and how long does it take?

If you have a Easy Credit style loan, then a minimum redraw amount of $2,000 applies otherwise there is no minimum or maximum amount.  Redraws will take approximately two working days.

What would you like to know about the Byblos Finance Gold Product
Byblos Finance Gold Product Range has all the bells and whistles, like unlimited transactions, Debit Card, Cheque Book, Bpay and your loan repayments can be capitalised. Call us now on 1300BYBLOS or 1300 292567 and one of our lending consultansts will assist you.

What is the application process?

Borrowers simply complete the direct card application form included with the existing loan application and return it to their Mortgage Manager.

How can I change my address?

A signed written request is required by all borrowers to change the address. Address can also be changed on Starnet (Internet Banking)

If I make an additional payment into my account, would that automatically reduce my ongoing payment?

Your ongoing payment is only reduced by a request from you, even if you are making extra payments; your ongoing payment will not be reduced unless you request it in writing.

How can I make extra payments to my loan?

Extra payments can be made by:

• Bpay – Bpay from your bank account into your loan using a Biller Code & a reference number
• Once off payment – your account will get debited for the payment amount requested on the nominated day by you
• Cash deposit – deposit cash funds into your loan account using a BSB & an account number
• Direct Salary Crediting – have your salary or rent deposited directly into your loan using a BSB & an account number

How can I change my bank account details?

You will need to complete a Direct Debit Request form and mail the original to our Head Office and the account details will be changed within two working days.

Direct Debit form is available on www.byblosfinance.com

If I am ahead in loan, can I reduce my on-going loan repayments?

Yes.  Simply fax a signed written request to your Relationship Manager and we will re-calculate your repayments based on the outstanding balance.  You will be sent a letter detailing your new repayment amount.

How can we help you with our great product range
Call any one of our offices Parramatta, Burwood, West Ryde, Campsie and Fairfield on 1300BYBLOS or 1300 292567 and you will be looked after by one of our lending consultants.

What happens if I sell my property?

If your property is sold, the security property can be substituted with another property and your loan will keep running instead of incurring the discharge fees.

How often do I receive a loan statement?

Loan statements are sent our every 6 months.  However, you can access and print your loan statement at any time on the website.

What if my loan repayment falls on a weekend or public holiday?

In this case, we will debit your savings account the working day PRIOR.  For example, if your loan repayment falls on a Sunday, then we will debit your account on Friday night.  Therefore, always ensure you have available funds at least 48 hours prior to your repayment date.

How many free transactions do I have a month?

Depending on your product.  If you have chosen a ‘Gold’ loan product, then you have unlimited free transactions per month, otherwise you have 6 fee free transactions.  Please note, redraws and once off payments are not included in the transaction count.

Personal Identification Number (PIN). What is a PIN?

The PIN is the Personal Identification Number that is unique to each borrower's direct card. This number is required to be entered each time a borrower undertakes an electronic transaction at an ATM or EFTPOS terminal. It is vital that the borrower keeps their PIN secret, and so they should not:

What can I do with my account on-line?

·        look up your account details

·        print out your loan statements

·        your loan summary

·        look up your payment details

·        look up or change your personal details

·        look up your recent transaction

·        make a once-off payment

·        change your ongoing payment

·        change frequency

·        make a redraw

·        you can transfer money

·        look up your contact details

·        download documents

·        change your pin number

Does it cost anything to use Internet and Telephone Banking?

No.  You can access your loan account any time for free. 

What happens when a borrower misses their required loan repayment?

It is vital that borrowers continue to make regular loan repayments. If they miss a repayment, irrespective of the amount of available credit (i.e. payments in advance) they have, their ability to make loan redraws will be blocked. This means the direct card will not function until any arrears amounts are cleared. Please contact Byblos Finance for further information if required.

What is a direct card?

The direct card is a plastic debit card linked to a borrower's loan. It allows borrowers to redraw available funds from their loan at most Bank and Credit Union ATMs (Automatic Teller Machines) Australia-wide, and at retailers displaying the EFTPOS symbol. The direct card also provides access to redraw internationally in over 160 countries from ATMs displaying the Plus symbol.

Who is eligible for a direct card?

Direct card is available on new Easy Equity and Easy Finance variable interest rate loans, but excluding:

·         Fixed rate loans

·         Construction loans

·         Vacant land loans

·         Loans for Companies or Trusts

·         Non-Resident borrowers

·         Non-Conforming loans

·         New Zealand loans

Direct card will be available to existing borrowers at a future date.

What is the application process?

Borrowers simply complete the direct card application form included with the existing loan application and return it to their Mortgage Manager. 

How many direct cards can each borrower have?

Each borrower can have one direct card per loan facility, irrespective of the number of loan splits.

Can a direct card be linked to more than one loan split, or to more than one loan facility?

No, each direct card can only be linked to one loan split within one loan facility. This is chosen by the customer when they apply for their card, however we can change the linked split after settlement. Remember, each borrower is only allowed one card per loan facility

What happens if there is more than one borrower?

Where there are multiple borrowers on a facility, each borrower can have one direct card. Multiple borrowers can link their direct cards to the same split, or to different splits within the same facility, direct cards can only be linked to splits that are eligible to have a direct card.

When should borrowers expect to receive their direct card?

Borrowers should expect to receive their new direct card approximately 7-10 days after settlement of their loan.

Does the borrower need to do anything else prior to using their direct card?

Yes. The borrower also needs to sign the reverse of their direct card prior to returning the activation slip.

What happens if the borrower enters their debit card PIN incorrectly into an ATM or EFTPOS terminal?

Borrowers have up to 3 attempts to correctly enter their PIN. If they enter their PIN more than 3 times incorrectly the card will be blocked until the next calendar day.

What types of transactions can the borrower perform with their direct card?

In Australia borrowers can withdraw cash and check their available balance at ATMs and perform purchases at EFTPOS terminals (please note that some ATMs do not allow balance enquiries). Some merchants also allow borrowers to withdraw cash with an EFTPOS transaction.

Internationally borrowers can withdraw cash at ATMs displaying the Plus symbol (the Plus symbol is shown on the back of the borrower's card).

What happens if after receiving a direct card the borrower changes their product type to one that doesn't allow direct card?
In this instance the direct card would need to be cancelled and returned to Byblos Finance.

Do I get charged additional Fees if my loan falls into arrears?

Yes.  The calculation of interest at the higher rate depends on the purpose of your loan.

• For investment loans, the higher rate will commence as off the first of the following month eg: payment missed on the 16^th of Oct- higher rate will commence on the 1^st of Nov if payment is not made. The higher rate is based on the loan limit plus the outstanding payment at 4% over your usual interest rate.
• For Owner Occupied loans, the higher rate will commence on the day of the dishonor payment until a payment is cleared. Eg: payment missed on the 16^th of October, the higher rate will commence on the 16^th of October until a payment is made. The higher rate is based on the outstanding payment amount at 4% over your usual interest rate.

If I miss a loan repayment, will my account be debited automatically again?

No.  You must either schedule a ‘Once Off Payment’ using internet/telephone banking or alternatively, call your local Byblos Finance office or relationship manger to arrange for the payments to be debited from your account.