Redraw

Redraw allows you to withdraw any extra repayments that you have made on your loan and it's free.

By making extra repayments, you will save interest over the life of the loan and reduce the amount of time it takes to pay it back. But if you then need to access the extra repayments you can redraw.

When you redraw, you do not need to tell us why you’re withdrawing. All you need to do is ensure that your loan remains one repayment in advance. Redraw is not available once the loan balance is nil.

Redraw registration

To apply for redraw you must register by completing the Redraw registration form.

Accessing your funds

Once registered for redraw you can access your funds in the following ways:

Internet banking - automatically transfer the redrawn amount to any account.
Phone banking - transfer the redrawn amount to your Teachers Credit Union savings account on the same member number as your loan.
Download and complete the Personal and home loan redraw form

These documents are in Adobe Acrobat format, download a free version of the latest Adobe Acrobat Reader software to view it.

* Redraw is subject to registration. Not available on fixed rate loans. Minimum redraw amount is $500.