SwitchSelect

The Commonwealth Bank will from time to time increase or decrease their standard variable home loan rate at their discretion. 

From this your minimum repayments will change, however the bank will not adjust the direct debit payment automatically as the bank will only review your home loan every 12 months.  This could cause great problems for you when they finally get around to reviewing your loan.

Switchselect.com.au's advice is simple:

Whenever the bank changes their rates, please phone 13 22 24 to confirm what the new minimum repayment amount is.  Then have the bank adjust your direct debit amount accordingly.  If you do not do this, you may find that after 12 months of interest rate increases you may owe more than what you originally started with.

In recent times this would not have been a concern as the interest rates have come down consistently over the past 18 months.  But now is the time to act.

Call the CBA when ever you can to make these changes and if you require any further information please speak to your home loan representative or view the Commonwealth Bank's information page on changing repayments here.