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What is home loan redraw?

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FAQs

A redraw facility allows you to take back the extra payments you have made on your loan account. For example, your minimum monthly loan repayments are $3,000. If you pay $3,200 each month for a period of 6 months you'll have paid an additional $1,200 on top of your minimum repayments. The redraw facility allows you to access that extra $1,200 if required.

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