Save interest and  redraw

A redraw facility lets you access extra repayments you’ve made on your home loan. Maintaining an available redraw balance can help reduce interest on your home loan. This could come in handy if you need some extra cash down the track

What is redraw?

If you’ve made additional repayments on your home loan (above your minimum scheduled repayments) you will be able to access these additional amounts at any time, just like you would using an offset account.

You could use your redraw to pay for costs like renovations, cover unexpected family bills or pay for that well earned holiday.

How do I use my redraw?

On the home loan account screen, simply select 'Transfer Money' and follow the prompts to set up a bank transfer.

There is no maximum or minimum limit on redraw transactions and no paperwork or forms required.

Important note

Withdrawing funds from your redraw balance will mean that you will be charged more interest.