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Redraw my loan

Our redraw loan tool makes it easy for you to access any extra payments you have made to your loan.

In order to access these redraw funds you must have:

an eligible loan account
read and agreed to the terms and conditions.
registered for the redraw facility
Be registered for ANZ Redraw. You must register for ANZ Redraw if your loan application was submitted prior to 9 February 2008. For more details on how to register please refer to the FAQ below.

How do I redraw on my loan?

To request a redraw on your loan:

Go to the Home page, which is the first page you see when you log on to ANZ Internet Banking.
Select your loan account and you will be taken to the "Account Overview" page.
Then select the "Redraw loan" link from the Account actions and follow the steps below.

Video transcript

If you're on a variable rate home loan and you've been paying more than the minimum repayment amount, you may have funds available to you in a redraw facility.

If you do, your redraw balance is the amount that you have already paid on your home loan in excess of the minimum repayment required.

But remember that if you decide to redraw funds, the amount redrawn will be added to your loan balance.

This means interest will be charged on that higher loan balance, and it may take longer to pay off your loan.

So if you need extra cash, you might want to consider other options before accessing funds you have in redraw.

For example, you might have money in other accounts you could use, or you might be able to reduce your loan repayment amount.

If you do go down the Redraw path, here's how to do it.

Firstly, login to ANZ Internet Banking.

Select your relevant loan account and you will be taken to the ‘Account overview’ page.

Here you can see how much is available in your redraw.

Select ‘Redraw loan’.

Select the account the money needs to be transferred to.

This needs to be a linked ANZ account.

Enter the amount you want to withdraw and click ‘Continue’.

‘Review request’ allows you to check your information.

Now click ‘Confirm’ and you will receive a Lodgement Receipt indicating your redraw has been approved.

Generally, if your approved redraw request is completed via internet banking, the funds will be in your nominated account the same day.

In a few instances, it may take a couple of days longer.

For more information, contact us at ANZ.

Before applying for a redraw

Check whether your account is eligible for the redraw.

You can also figure out if you have the redraw facility and funds available to redraw by checking your loan account details.

If you are eligible to redraw there will be a link to "Redraw amount paid in advance" at the bottom right of the screen.
Please note that the redraw facility is only available for loan applications submitted or renewed after 24 November, 1997.

Another indication of your eligibility is the type of page that displays when you click the "Redraw loan" link.

If your loan account is not eligible for a redraw facility

The "Your loan account is not eligible for ANZ Redraw" page will display

If your loan account is eligible, but not yet registered for a redraw facility

The "Register for ANZ Redraw" page will display.
To request a redraw registration pack to be posted to you, select "Request information".
A pack will be sent to your nominated postal address.
You will need to complete the form and sign it in person at any ANZ branch.

If your loan account is already registered for a redraw facility

The "Loan redraw" page will display.
This page will provide information on the type of loan account you are redrawing from.
It will display the "Amount in advance" available for redraw and the redraw fee, if applicable.

Step 1 - Fill in the required information and click "Continue"

To: select the linked ANZ account to transfer the redrawn funds to.
Amount: enter the redraw amount. There is currently no minimum Redraw amount for eligible Home Loans and Residential Investment Loans or Personal Loans.
Click "Continue" to proceed with the redraw.

Step 2 - Review your information

Review all your information to ensure it is correct.

If you notice mistakes, click "Back" and re-enter the correct details following steps 1-2.

Step 3 - Confirm your request

When you are happy with the information entered click "Confirm". This will complete the request and a confirmation message will display.

Step 4 - View your lodgement receipt

Your lodgement receipt is displayed to confirm that your request has been submitted successfully.
This does not mean the request will be processed successfully as that is dependent on the details you have entered being accurate.
Please make a note of the receipt number and lodgement number for your own records.

What happens next?

Depending on the transaction, the redraw may be processed straight away or could be sent to the ANZ Redraw team to be processed.
Your redraw request may then take up to two bank business days to be processed.
You cannot delete or cancel an ANZ Redraw request once it has been confirmed.

Important notes

Redraw is not available during the fixed rate or progressive draw period.
Principal reductions made during any fixed interest period or during any construction or progressively drawn down period will not be available to be redrawn at any time.
Early or additional repayments made to ANZ Loans prior to 24 November 1997 are not available for redraw.
The "amount in advance" may not reflect today's transactions or unprocessed transactions. These funds may be eligible for ANZ Redraw, subject to the terms and conditions of your loan and ANZ credit criteria.

After any redraw, ANZ can change the amount of your repayments to ensure that your loan will be repaid within its agreed term.

Loans eligible for ANZ Redraw

ANZ Standard Variable Rate Loans
ANZ Simplicity PLUS Loans
ANZ Fixed Rate Loans (in variable rate period)

Eligibility

Please take note of the eligibility information:

Eligible for ANZ Redraw automatically: if your loan application was submitted after 9 February, 2008.
Eligible for ANZ Redraw, requiring registration: if your loan application was submitted between 20 April, 2000 and 8 February, 2008
Potentially eligible for ANZ Redraw: if your loan application was submitted between 24 November, 1997 and 19 April, 2000, your loan may qualify for ANZ Redraw. However special conditions apply. Please contact:
Potentially eligible for ANZ Redraw: if your loan application was submitted between 24 November, 1997 and 19 April, 2000, your loan may qualify for ANZ Redraw. However special conditions apply. Please contact:
- the ANZ Home Loans team on 13 25 99 between 8.00am and 8.00pm (Sydney/Melboure time), Monday to Friday,
- the ANZ Personal Loans team on 1800 801 485 between 8:00am and 6:00pm (Sydney/Melboure time) Monday to Friday.
Not eligible for ANZ Redraw: if your loan application was submitted prior to 24 November, 1997, your loan will not be eligible for ANZ Redraw. However, your loan may be renewed with a new loan contract that could be eligible for ANZ Redraw.

Redraw registration

From 9 February 2008, all new or renewed loans that are eligible for ANZ Redraw will have the facility automatically activated. If your loan application was submitted prior to 9 February 2008:

You must first register for ANZ Redraw before you will be able to redraw from your loan. To register for ANZ Redraw please complete the registration form available online or from your nearest ANZ branch.
Upon registration, you can nominate either to allow one person to sign for redraw or request that the consent of all parties is required before redraw will be actioned. This registration form is legally binding and new written instructions must be forwarded to us if circumstances regarding your redraw change.
Once registered, you can perform redraw via ANZ Internet Banking or by calling: the ANZ Home Loans team on 13 25 99 between 8.00am and 8.00pm (Sydney/Melboure time), Monday to Friday, or via ANZ Internet Banking; or the ANZ Personal Loans team on 1800 801 485 between 8:00am and 6:00pm (Sydney/Melboure time) Monday to Friday.

Need more help?

For further assistance please Contact us

Or send us a SecureMail

Frequently asked questions

Use our faqs to find out more about redrawing the funds from your loan account.

What is ANZ redraw?

ANZ Redraw makes it easy for you to access any extra payments you have made to your loan, which are above the minimum repayment amount, without going through a complete application process.

How can I redraw funds from my loan?

If you have made early or additional repayments to your loan and you are registered for redraw, provided all the conditions are satisfied at the time you wish to make a redraw, you can easily redraw an amount equal to or less than the amount paid in advance on your loan.

The redraw can be done over the phone or via ANZ Internet Banking.

How much can I redraw?

The most you can redraw from eligible loans is the amount paid in advance on the loan. There is currently no minimum Redraw amount for eligible Home Loans and Residential Investment Loans or ANZ Personal Loans.

Can I redraw my ANZ loan to a non-ANZ or a non-linked ANZ account?

No. You cannot directly redraw from an ANZ Loan account to a non-ANZ account or to an ANZ account that is not linked to your ANZ Internet Banking.

A loan redraw can be deposited only to another ANZ account linked to your ANZ Internet Banking.

You can also request to redraw over the phone by calling the number listed below.

When requesting to redraw over the phone you may also request for the redraw funds to be sent to you as a bank cheque.

Is my loan eligible for redraw?

The redraw facility may be available for loans where loan applications were submitted or renewed after 24 November, 1997.

To be eligible for redraw you must:

have an eligible loan account
be registered for redraw facility
meet all of the conditions.

Find out more about the eligibility criteria in "important notes".

Who do I contact if I need further information regarding redraw?

You can contact the ANZ Mortgage Redraw team on 13 25 99 between 8.00am and 8.00pm (Sydney/Melboure time), Monday to Friday or the ANZ Personal Loans Redraw team on 1800 801 485 between 8.00am and 6.00pm (Sydney/Melboure time) Monday to Friday.