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Can I redraw on my Greater Bank Home Loan?

Can I redraw on my Greater Bank Home Loan?

Yes - Greater Bank customers are able to redraw extra repayments on their Home Loans in a number of ways.

If you are not registered for Online Banking, you can download a Redraw Application Form here. Simply complete this form and drop it into your nearest branch (please note, a fee may apply for any redraws processed this way).

If you are registered for Online Banking, you can logon to apply for a redraw following the below steps:

  • Click ‘Transfer between Accounts’ in the left hand menu if accessing online banking via a desktop/browser or at the bottom of the page if using our mobile banking app.
  • Select your Home Loan as the account to transfer money from (you must have a balance above $0 to redraw on your loan)
  • Select an account to transfer money to, along with the amount, a description and whether you want to process now or later. Click continue.
  • You will be asked to read a short disclaimer - make sure you read and understand this before hitting accept.
  • If you're the sole individual named on the loan - you're all done!
  • If there are other names on the loan, they may need to also authorise the redraw. An authorisation notification will be sent to the other parties via Online Banking if required. All they need to do is click 'Authorisations' in the left hand column and proceed with the authorisation to complete the redraw.