If you have made additional repayments on your variable rate loan, you may have funds available to redraw. You can check your available redraw balance online or at any branch. Your available redraw balance won’t include any repayments made towards your next monthly minimum repayment amount or uncleared cheques, and may reduce so that, by the end of your agreed loan term, both your loan balance and the available redraw will be zero.
You can redraw available funds online, over the phone or in branch without a fee. Redraw is unavailable for fixed rate loans. For a short period of time, the Personal Loan Terms and Conditions may advise that fees are payable for redraws processed in branch. However, please note that this has now changed and there is no cost to redraw.
To redraw, simply log on to NetBank or the CommBank app and transfer money from your available personal loan funds to your preferred transaction account. Alternatively, you can call us on 13 1431 or visit your nearest branch. Learn more about redraw.