Our redraw facility on variable interest rate home loans allows you to withdraw directly from your home loan account any repayments you've made that are more than your contractual repayments.
The minimum redraw amount is $50 and the maximum is the amount of advance repayments you've made. You can make as many redraws as you like and there's no fee to do so.
How to redraw via internet banking
How to redraw via mobile banking or BankVic app
How to redraw via automated telephone banking
Make sure when you set up your loan that you have requested we link your home to your automated telephone banking account structure.
Other ways to redraw
Remember to read General Information, Terms and Conditions (PDF) which contains the terms and conditions for our online and telephone banking. The terms and conditions for redraw are within the Offer and Terms of your Loan Contract.
1 Important note: Please check the account details you have entered – the account name cannot be verified by us prior to sending your funds. Incorrect information may result in funds being credited to the account of an unintended recipient if the BSB number and/or account number do not belong to the named recipient. If you have made an error, contact us immediately and we will investigate your Mistaken Internet Payment, contact the receiving financial institution and request that they return the funds. Please note, it may not be possible to recover your funds from an unintended recipient.
How we can action a Mistaken Internet Payments is detailed within the terms and conditions for online and telephone banking and governed by the ePayments Code. Ask us about the ePayments code or visit the Australian Securities and Investments Commission website.