Only 14% of eligible home loan customers reduced their direct debit repayments following the Reserve Bank of Australia's (RBA) February rate cut, according to a report by CommBank published Monday.

The RBA last lowered the official cash rate by 25 basis points to 4.10% in February, delivering monthly savings of up to AU$80 for customers making principal and interest repayments on an average loan size of AU$500,000, per CommBank's report.

"For those who did not reduce their direct debit repayments, they may now be making additional repayments on their mortgage, which could help them to pay off their loan faster," said Michael Baumann, CommBank's home buying executive general manager.

"If rates fall further, it could deliver greater total savings to eligible home loan customers. As such, I wouldn't be surprised to see more home loan customers choosing to free up their cash flow by lowering their regular mortgage repayments," Baumann added.

The RBA is widely expected to further reduce the cash rate to 3.85% on Tuesday.