Corporate loan notice changes
Currently, your loan notices are manually created. Once your loan is moved to ANZ’s new loan management system, you will receive system-generated notices. This will mean that:
- there will no longer be a signature on the notices, however your relationship contact points at ANZ will not change; and
- fee and interest descriptions in the notices may be different, due to the standardisation of naming conventions.
New loan notice sample
Roll-overs made easy
For floating rate loans (where the loan is periodically rolled-over every 30, 60, 90 days, for example), you will be provided with a Reprice Intent Notice 5 days prior to the roll-over. Our new Loan Management System refers to roll-over events as ‘repricing’, and this notice will be automatically issued to you. The Repricing Intent Notice will provide you with loan roll-over details including maturing loan amount, any scheduled principal and projected interest payments due, the new loan amount and the next roll-over (reprice) date.
The next roll-over (reprice) date will be based on the same frequency as the maturing loan. If the new loan details are acceptable, there is no longer any need for you to send ANZ an executed roll-over request form. If, however, you would like to amend any of the defaulted details, you can do so by contacting ANZ through your normal channels. Changes should be made prior to the roll-over date.
On the roll-over date you will be provided with a Reprice Rate Setting Notice which confirms the roll-over details. It confirms the actual interest due for the maturing loan, any principal payment applied and due, the new loan amount, the new loan interest rate details, the next roll-over date and the projected interest due on the new loan. It also advises whether funds will be automatically debited to your account or directions for you to make payment.
Have questions?
Contact your Relationship Manager for more information.
View our full set of relevant disclosures.