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Redraw from your loan

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SWSCU Redraw can let you access extra payments you have made on your loan via internet banking, Phone app or at your local branch.

Does my loan have redraw?

  • Yes, all our loans have a redraw facility.
  • If you are at least one month in advance of loan repayments any excess can be redrawn.

E.g. in advance $2000 & minimum monthly payment, available funds to redraw is $1500.

How do I access my redraw?

  • By calling into your local branch & requesting a redraw.
  • Via SWSCU App or internet banking.

Why can’t I redraw on my Loan?

  • You are not making any extra or higher loan payments.
  • You are not more than 1 month in advance.
  • Your loan is paid out.
  • Your loan has not been fully funded e.g. construction loan.

 

 

 

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