How do I redraw my money?

The redraw facility available on all of our home loans allows you to access any additional payments you’ve made to your home loan free of charge, 24 hours a day, 7 days a week, using Online Banking or Phone Banking.

You can access your funds whenever you want – all without the hassle of taking out a personal loan or paying interest on a credit card.

Things to consider 

What you should know about redraw:

• You’re able to redraw from your home loan as many times as you like, with the minimum redraw amount being $500.
• Redrawing on your loan won’t increase your repayments or extend the term of your home loan as you’re simply withdrawing the extra payments you’ve made into your home loan.
• When performing a redraw, all parties must authorise the transaction. If you wish to modify the authorisation, such allowing any party to transact and authorise independently, you can download the Redraw Operation Form.  Once completed the form is returned by fax or post:

 Fax-icon  (08) 8300 6898 
 Post-icon Loan servicing, Adelaide Bank
Reply Paid 1048
Adelaide SA 5001


How to perform a redraw

Redraw is automatically available via Online Banking on your home loan. It’s as simple as selecting your home loan account as the from account when performing a funds transfer in Online Banking.

When choosing to redraw, you may need to be aware of the following considerations:

  • If your loan with us has an offset account, the redraw funds from your loan will be available in your offset account immediately.
  • If your loan with us is the SmartSaver Loan, you can transfer the redraw amount to a transactional account, either with Adelaide Bank or another financial institution.
  • Redraw funds to an Adelaide Bank account will be available immediately, while redraw funds to other financial institutions will be available up to two business days.
  • A redraw can also be performed over the counter at a Bendigo Bank branch.  Fees and charges apply.