Aspect Learning Guide
Redraw
Redraw lets you access extra repayments you have made into the loan, subject to lender rules.
Redraw explained in plain English
Redraw lets you access extra repayments you have made into the loan, subject to lender rules.
How it works
If you pay more than the required repayment, some lenders allow you to redraw the extra amount later.
Key difference
Redraw is inside the loan, while offset is usually a separate transaction account.
Important
Redraw rules vary between lenders and may not suit every borrower.
General information only: This guide does not take into account your personal objectives, financial situation or needs. Lending policy varies between lenders.