What is redraw?

  • A redraw facility allows you to access additional repayments that you've made on your business loan over and above the minimum required repayments.

    Key features:

    • Access the redraw now if you need extra cash flow or if you are looking to grow your business
    • Keep the redraw available for when you need some extra cash flow in the future. There is no need to take any action
    • Available on variable rate BetterBusiness loans
    • Access your redraw online via NetBank, CommBank App or CommBiz

Benefits of redraw

  • Less interest

    Any money available in your redraw – whether its $10 or $10,000 – reduces the balance owing on your business loan. This means you’ll be paying less interest on your business loan. 

  • Flexibility in managing your cash flow

    You can make additional one-off lump sum repayments or regularly pay more than your minimum required repayment in order to pay less interest on your loan.

    Maybe you’re looking to scale up your team, boost your inventory or take advantage of a new opportunity. Whatever your next step is, your redraw is available online, at any time.

    Remember, if you choose to withdraw money from your available redraw, your business loan balance and repayments may increase.

  • Adjust your repayments

    Any money available in your redraw reduces the balance owing on your loan and lowers your minimum required repayments. You can adjust your repayments to the minimum repayment amount, giving you additional cash flow when you need it most.

    Remember, lowering your repayments will reduce your available redraw balance over the agreed remaining term.

    To learn more or to change your repayments, give us a call on 13 1998 or contact your Relationship Manager.

How to access your redraw

  • How to access your redraw in NetBank

    1. Log on to NetBank
    2. Go to Transfer & BPAY, select your business loan in the ‘From’ dropdown list
    3. Enter an amount and select transfer
  • How to access your redraw in the CommBank app

    1. Tap View accounts
    2. Choose your business loan
    3. Tap the transfer button to enter an amount and hit transfer

Things you should know

  • As this information has been prepared without having regard for your individual and/or business objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances. This information is current as at 22 October 2021 and is prepared without taking into account your individual and/or business needs and objectives. 

    Credit provided by the Commonwealth Bank of Australia.  These products are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. View our Current Terms and Conditions for Business Finance and consider them before making any decision about these products. Rates are subject to change. For current interest rates, visit business banking rates and fees. Fees, charges and Terms & Conditions apply.