About our Loan Redraw Facility
Redraw allows you to utilise the excess repayments made against your loan for holidays, unforseen expenses, home renovations, investments or whatever you choose.
If you have a Community CPS loan and repayments have been made in excess of the minimum required, you can request a withdrawal of the advance amount. Please note, that lines of credit and overdrafts are excluded from this facility.
Unlike some other redraw facilities, Community CPS has set a low minimum of $500 and there is no specific redraw fee.
Redraws can be processed in two ways. You can choose from:
- Online – an option with Community CPS Web-Link Internet Banking allows Web-Link registered members to process their own re-draws, after initially completing an Online Redraw Access Registration (pdf 40Kb).
- Manually – By completing the Manual Redraw Request form (pdf 63Kb), each time a redraw is required.
Features and Benefits
- No redraw fees
- A minimum redraw amount of $500
- Funds are automatically credited to a savings account
- Full details of the status of your loan after each redraw are provided
- Easy online redraw option via internet banking
Click on the following links for further information
Important Information about our Loan Redraw Facility (pdf 24Kb)
Terms of the Loan Redraw Facility (pdf 23Kb)
Manual Redraw Request Form (pdf 22Kb)
Online Redraw Access Registration (pdf 40Kb)
