Personal Loan Redraw

Available online.

Easily redraw your advance personal loan balance

If you've been making additional repayments on your personal loan above your minimum required repayment amount, Auswide Bank may allow you to redraw your advance payments~, and unlike many lenders, even on fixed rate personal loans!

This simply means you have access to your 'advance balance' if you need it for unexpected bills or additional purchases – without having to apply for another loan^.

Auswide Bank personal loan redraw is available online via internet banking.

When making a redraw request the following payment methods+ are available:

  • Transfer to an Auswide Bank account
  • BPAY
  • Real Time Gross Settlement
  • External Payment

Please note:

  • ~the redraw facility is at Auswide Bank discretion and is subject to the terms and conditions of your loan and Auswide Bank credit criteria.
  • ^the most you can redraw ('redraw available') is the amount paid in advance on your loan  ('advance status') minus one month's minimum loan repayment ('monthly repayment')
  • any redraw will be debited to your loan account and will incur interest on the same basis as the principal owing under your loan.
  • where multiple signatories are required to operate the loan, all signatories will be required to authorise.  For internet banking, this will require all signatories to be registered for Internet Banking.
  • +Depending on the access method you choose to receive redraw funds, fees & charges may apply
  • After any redraw, Auswide Bank can change the amount of your repayments to ensure that your loan will be repaid within its agreed term
  • Auswide Bank recommends borrowers seek independent accounting or taxation advice prior to redrawing advance funds on loans used for investment purposes.

Personal Loans which may be eligible for redraw:

  • Secured Personal Loan
  • Unsecured Personal Loan

Enquire Online Internet Banking

*This information is a summary of features & benefits only - full details, including any applicable fees & charges, are available in the relevant terms and conditions.

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