Redraw

Redraw is a feature on eligible home loans that allows you to withdraw the extra payments you have made on your home loan.

If you’ve paid off more than the minimum required amount on your home loan and you have made a Redraw request you may withdraw the extra money you’ve paid. You can use your redrawn funds for any purpose at any time. You continue to pay off your loan without extending the original term of your loan.

A Redraw fee is charged for each request and Redraw is subject to the Bank’s approval.

How to register for Redraw

You’ll save on fees if you make a Redraw request via Internet or Phone Banking. So it makes sense to register for Redraw – even if you’re not planning to use it now. Just fill in the Register for Internet and Phone Banking Redraw form and you’ll be ready to Redraw on your home loan when you need to.

If you’re ready to redraw now, you can complete the Redraw Request form and drop this in at any branch or fax back to us.

Redraw fees on eligible Home Loans

Each time you make a Redraw request, you’ll be charged a fee when your request is approved.

Home Loans eligible for Redraw	Fee for Redraw request made in branch	Fee for Redraw request made via Phone and Internet Banking
Basic Home Loan	For a limited time the $50 redraw fee will be waived from 17 October 2011 to 31 January 2012	$0
All other home loans	$25	$10
Advantage Package home loans	$25	$0
Essential Home Loan & Great Australian Home Loan	$50	$0
No Deposit Home Loan	$50	$10