We’re excited to announce some improvements to our loan redraw facility, making the redraw process smoother for members who have an account with a redraw facility.
So, what's changing?
Removal of minimum redraw
We’re pleased to advise that if you have loan redraw set up, we’ve removed your minimum redraw amount. You’ll now be able to specify your preferred redraw amount when redrawing through Internet Banking or the Mobile App.
Your 'Available' balance and 'In Advance' amount display
When viewing through Internet Banking or the Mobile App, your 'Available' balance will now display an amount less your next repayment amount due. Your 'In Advance' amount will display the total amount your loan is in advance.
These changes will help you to manage your loans more effectively by reducing the potential of redrawing on an upcoming payment.
How to process a redraw
For eligible loans, you can complete a redraw by selecting the 'Transfer/Pay' option in Internet Banking or the Mobile App.
How can I get more information?
We’re here to help, so if you have any questions about loan redraw facilities, or would like to learn more about setting up an online redraw facility, please call us on 13 25 77 or visit your nearest branch.