Interest rate increase – Thursday 19 February 2026: interest rates for variable home loans and deposit rates across the majority of savings products have increased by 0.25%, effective 19 February 2026.
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.