Interest Rate Increase – Tuesday 24 March 2026: Following the RBA’s decision to change the official cash rate, interest rates for owner‑occupier and investor variable loans will increase by 0.25%, effective 1 April 2026. From 1 April 2026, deposit rates across the majority of savings products will also increase by 0.25%. Find out more.
A redraw facility allows you to take back the extra payments you have made on your loan account. For instance, if you pay $3,200 each month instead of the minimum $3,000 for six months, you'll have an extra $1,200 in your account. With a redraw facility, you could easily access that extra money if you need it, without having to go through the hassle of applying for a new loan or credit.