If you have a B&E home loan with a redraw facility and you are in advance in your repayments by one month or more, then from August 4 you will have easy access to those funds.

B&E is now able to offer home loan redraws via internet banking. It’s simple, it’s super convenient and a low redraw fee of $10 applies.

If you are an individual or joint borrower, you can have access to your funds straight away- all you need to do is log on to internet banking, select the loan from your “List of Accounts”, click on the “Transfer” button and follow the easy steps to transfer your advance payments.

Sometimes it’s easy to forget that when you’re ahead in your repayments, you can access those funds – it could be just what you need to help with an unexpected bill, to clear a credit card, or take a well earned break.

Please note:

• Redraw via internet banking is only available to authorise a transfer to another B&E account.
• A fee of $10.00 will be debited to your loan account each time a redraw is made via internet banking.
• The current redraw fee on your loan will continue to apply only to redraws made over the counter at any branch.
• For loans with two or more borrowers, each borrower/signatory will need to input their password before the transaction is authorised. If you wish to allow redraw to be authorised by one of you only (either by internet banking or over the counter), all borrowers will need to sign an authority form which is available to download here, or from any B&E branch or by calling 1300 306 716.
• To perform redraw via internet banking, you will need to select the loan from your List of Accounts and then click on the transfer button.