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Accessing your repayments

If you've been making additional repayments above your required repayment amount, you may be able to withdraw that money, or even stop making repayments for a while. And if you're finding your required repayments challenging to meet, we also have options to offer you some relief when you need it.

Repayment Redraw

If you've made additional repayments on your loan you may be eligible to Redraw them. This service lets you withdraw your money quickly and conveniently for any reason, including renovations, buying a car or paying unexpected bills.

Standard Variable Rate and Introductory Rate Home/Investment Home Loans No Fee Variable Rate Home/Investment Home Loans Economiser Home/ Investment Home Loans (Includes 3 Year Special Economiser)
Redraw available Yes Yes* Yes^
Drawing fee online/via Telephone Banking Free Free $50
Drawing fee in branch $5 Free $50
Minimum redraw online/via Telephone Banking $500 $500 $500
Minimum redraw in branch $1,000 $1,000 $2,000

*ATM & EFTPOS access is not available
^Redraw is not available where Interest Only payments are selected

You can Redraw in NetBank, by phone on 13 2224, at selected ATMs, EFTPOS, Australia Post EFTPOB terminals, or just drop in to any of our 1,000+ branches.

You can also use the equity you've built up to increase the value of your house, through renovations, extensions or landscaping. Or, to fund investments, like purchasing an investment property.

Find out more about using equity.

Find out more about building equity.

Repayment Holiday

Alternatively, if you've made additional repayments on your loan you may be eligible for a Repayment Holiday. A Repayment Holiday gives you the option of putting your repayments on hold from three months to 12 months. This gives you more flexibility to suit changes to your lifestyle, whether they're planned or unplanned.

To apply for a Repayment Holiday, please call us on 13 2224, or just drop in to any of our 1,000+ branches. To save time, you can download the Repayment Holiday Request form and take it to any branch.

Case study: Josh and Liz have a baby

When Josh and Liz got married five years ago they took out a Standard Variable Rate Loan to purchase their home. Over the last five years whenever they had any spare cash they made extra lump sum payments into their loan, as well as paying more than their required repayment amount every fortnight. Consequently, the extra funds have built up over time and now they have a substantial amount of specials (over repayments) sitting in their home loan.

Liz is now pregnant and plans to take one year's maternity leave, however her job will only pay her for three months. Josh and Liz want to maintain a similar level of income after Liz has the baby, so they contact one of our lenders and arrange to put their home loan repayments on hold for eight months once the baby is born. During that time we'll use the extra amount in their specials to deduct the home loan repayments. So, after the eight months, the total pool of available specials will be less.

It's important that during the eight month Repayment Holiday period Josh and Liz don't make any significant redraws. If they do it may mean that they'll need to increase their fortnightly repayments when the Repayment Holiday is over, in order to repay the loan within the agreed term.

Repayment relief

If your circumstances do change, and you think you'll find it hard to meet your required repayments, we can help. Talk to one of our lenders to discuss your options, which can include extending your loan term to reduce your required monthly repayments.

  • Important information
    Redraw and Repayment Holiday are not available on interest only loans and is dependent on having the required amount available in special repayments (extra repayments). A Repayment Holiday is also not available where there is a second or subsequent mortgage to another financial institution ranking behind the Commonwealth Bank. Applications are subject to the Bank's approval.
    Applications for finance are subject to the Bank's normal credit approval. Full terms and conditions are included in the Loan Offer. Fees and charges are payable.