A redraw facility helps you minimise interest costs on your Variable Rate Home Loan and potentially shorten the overall term of the loan.
Extra repayments you make towards your home loan are considered accessible funds. These funds are available for you to use for any purpose or emergency.
Contact us online about a new home loan
Download and print a home loan application form
Add redraw to your existing variable rate home loan
Redraw
|
Combine with a Variable Rate Home Loan to reduce accrued loan interest.
|
| Redraw Amount |
- Minimum $500
- Maximum up to the total of additional repayments made
|
Ongoing Fees
|
No monthly account keeping or transaction fees
|
Access
|
|
Application Fee
|
None |
Setup Costs
|
You will be required to reimburse Gateway for specific third party costs such as legal fees, valuation of security property and Government charges (details on request)
|
Contract Fees
|
Over the life of your loan contract, Government charges, credit fees and other charges may apply (details on request)
|
| Online Application |
Apply Now |
Contact us online about a new home loan
Contact us online about your existing Gateway home loan
Download and print a home loan application form
Add redraw to your existing variable rate home loan
1. Applications are subject to our normal credit assessment criteria.
2. Terms and Conditions apply and together with interest rates are subject to change.
3. Details of fees and charges are available on request.
4. You must be registered for Online Banking to have a Redraw Facility. To register, contact Member Services on 1300 302 474.
5. Maximum amount available to be redrawn is restricted by normal online banking daily withdrawal limits of $5,000. If a greater amount is available due to your additional repayments and is required contact Gateway on 1300 302 474.
6. Available amounts for redraw will be outlined in your account in Online Banking.
7. Redraw is only available on variable loans and not in conjunction with an Offset Savings Account.
8. If you have an Offset Savings Account and would prefer a Redraw Facility instead, you must firstly close your Offset Savings Account and then apply for a Redraw Facility to be added to your Variable Rate Home Loan.