ANZ Redraw

What is redraw?

ANZ Redraw could let you access extra payments you’ve made to an eligible loan when you need to.^disclaimer You can easily access your redraw funds via ANZ Internet Banking and other convenient ways.

How do I redraw the money?

If you’d like to do a redraw, you need to:

• Have an eligible loan account 
• Be registered for ANZ Redraw
• Satisfy all the conditions for ANZ Redraw^disclaimer, including:
  • your loan must be fully drawn
  • your loan must not be paid out
  • the amount of your early or additional repayments, less any previous redraws, must total an amount advised by us from time to time
  • if your loan is guaranteed, the guarantors have consented in writing to ANZ Redraw (applicable to Letters of Offer issued prior to 9 February 2008)
  • there has not been any event of default during your loan term. 

For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF 412kB).

You can then complete a redraw by:

• Logging in to ANZ Internet Banking (look for the ‘Redraw loan’ link in your Account Overview page)
• Calling 1800 077 070 (Monday to Friday 8.00am – 8.00pm AEST)
• Submitting the Redraw withdrawal request form (PDF 158kB) by mail or fax

Is my loan eligible?

The following loans are eligible for ANZ Redraw:

• ANZ Standard Variable Home Loans
• ANZ Simplicity PLUS Home Loans
• ANZ Fixed Home Loans (in a variable rate period)
• ANZ Standard Variable Residential Land Loans 
• ANZ Standard Variable Residential Investment Loans
• ANZ Simplicity PLUS Residential Investment Loans
• ANZ Fixed Residential Investment Loans (in a variable rate period)
• ANZ Standard Variable Residential Investment Land Loans
• ANZ Fixed Interest-in-Advance Residential Investment Loans (in a variable rate period)  

When is ANZ Redraw not available?

You're not eligible for ANZ Redraw if you have defaulted during the loan term. 

Certain early or additional repayments are not available to be withdrawn, including payments made on a home loan or residential investment loan:

• prior to 24 November 1997
• prior to the commencement of the fixed rate period
• during the fixed rate period that commenced before 8 July 2013
• during a construction or progressively drawn down period on a loan
• payments made on a particular day, until after the end of that day (or, if that day is a non-business day, until after the end of the next business day).

ANZ Redraw is not available during the fixed rate period of an ANZ Home Loan or Residential Investment Loan or on home loans in a company name.

What's the minimum amount I can redraw?

There is currently no minimum redraw amount for eligible ANZ Home Loans and Residential Investment Loans.

How long does it take for the money to be transferred into my ANZ transaction account?

An approved redraw request completed via ANZ Internet Banking on a business day will generally be in your ANZ transaction account the same day.

If your redraw request is processed over the phone, it may take up to two business days to transfer to your ANZ transaction account.

Can I redraw my ANZ loan to a non-ANZ account, or one that isn't linked to my ANZ Internet Banking?

Money from a redraw can only be deposited to an ANZ account that’s linked to your ANZ Internet Banking. If you’re asking for a redraw over the phone, you may also get a cheque issued instead.

How do I find out more about ANZ Redraw?

Please call the ANZ Mortgage Redraw team on 1800 077 070 between Monday and Friday 8.00am – 8.00pm AEST.