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How to access redraw
What is redraw?
Redraw represents funds that you’ve paid in advance on your home loan.
You can increase the amount of redraw available on your loan by paying extra off your loan.
You can pay off extra either by setting a regular repayment that is higher than the minimum repayment or by transferring funds directly to your loan.
It is not the same as withdrawing funds from an offset account.
Some lenders provide loans that do not offer redraw however all of Community First’s home loans offer the ability to access redraw.
How can I access redraw?
There are two ways you can access redraw:
- You can login to Community First Internet Banking and select ‘Payments’ followed by Transfer money. You can then select the loan you’d like to withdraw from. The amount of funds available will be noted next to the loan in the drop down box.
- If you’d like us to do it for you, give us a call or visit one of our stores and one of our staff members can complete it for you.
Please note that redraw fees may apply for redrawing funds from your loan. There is no fee if you complete the redraw yourself online.
Changes to redraw
Historically for Community First Bank loan account holders, if you made additional repayments to your loan over and above the minimum repayment, we held up to one month’s repayment in advance in our system before you could see available redraw and access it.
On 20 March 2026, we updated our system to no longer hold one month’s repayment in advance. This means that all funds paid into the loan account in advance of the due date of your monthly repayment date now show as available redraw. This change allows you more flexibility in managing your loan, additional repayments and redraw.
If you do access loan redraw, you’ll need to check that you’re leaving sufficient funds in the loan account to cover your next scheduled monthly repayment.
This is more likely if you deposit or transfer funds to your loan account on a weekly, fortnightly or an ad hoc basis. If this is the case, you should check your loan account and repayment due date to ensure you will have enough funds in the loan account to cover your monthly repayment when due.
Need a hand?
For help managing your loan, reach out to one of our knowledgeable team members – we’re here to make the process easy.
Contact us