Available Redraw

Why available redraw can differ from extra repayments

A bank statement can show an amount ahead on a loan and a smaller amount available to redraw. These labels answer different questions: how far repayments are ahead, and how much the lender currently permits you to withdraw. Do not assume every dollar paid above the minimum remains accessible indefinitely.

The Redraw Facility definition explains the loan feature. This page focuses on reading the balance and avoiding double counting in a repayment estimate.

Three balances to keep separate

Balance	What it describes	How to use it
Outstanding loan balance	Debt currently owing	Starting principal for a repayment estimate
Available redraw	Extra repayments the lender currently permits you to access	Check access conditions before counting it as available cash
Offset account balance	Money in a separate account linked to the loan	Enter separately only in a model that supports offset

An extra repayment has already reduced the outstanding loan balance. Subtracting available redraw from that balance again would count the same payment twice.

Worked example: do not deduct redraw twice

Suppose an illustrative statement shows $460,000 owing after extra repayments and $25,000 available redraw. With no offset, the starting balance for a new repayment scenario is $460,000, not $435,000.

If the borrower then redraws $8,000, the debt becomes $468,000 before any interest, fees or other transactions. If that withdrawal is the only adjustment to availability, the displayed redraw would fall to $17,000. The lender's actual balance may also reflect its access rules and scheduled adjustments.

At an assumed constant annual rate of 6%, the additional $8,000 would add about $1.32 interest for one day using a 365-day calculation: $8,000 x 0.06 / 365. This is an illustrative calculation, not a quoted rate or a prediction of the next repayment.

Use the Mortgage Repayment Calculator with the revised debt and remaining term for a separate scenario. The daily home-loan interest guide explains timing differences.

Why the available amount may change

Lender rules differ. CommBank distinguishes total redraw from available redraw: its explanation identifies payments towards the next minimum repayment, uncleared cheques and scheduled adjustments as possible reasons for a difference. Macquarie says availability can change with the loan limit, repayment amount and loan balance; it may also reserve the estimated next scheduled payment.

Both lenders describe available redraw reducing over time towards the end of the contractual loan term. These are examples of provider rules, not a universal formula. Check the current conditions for the specific loan rather than reconstructing availability by adding old extra payments.

Questions to ask before relying on redraw

• Which displayed amount can be withdrawn today, and when would a transfer arrive?
• Are any amounts reserved for an upcoming repayment or awaiting clearance?
• Would changing to another loan product affect access?
• Would a withdrawal alter the required repayment?

For a household cash worksheet, list redraw separately from cash and offset savings. The mortgage buffer guide shows how to compare scenarios with and without confirmed redraw access.

Common questions

Is available redraw the same as equity? No. Equity compares the property's value with debt. Redraw is a feature of the loan, subject to its terms; a higher property value does not by itself add to redraw.

Can the Extra Repayments Calculator tell me my available redraw? No. It models extra-payment effects under its assumptions. It does not connect to a bank or reproduce lender access rules. Use the Extra Repayments Calculator for a scenario and the lender's records for availability.

Sources and limitations

• CommBank: Home loan redraw, for its distinction between total and available redraw.
• Macquarie: Redrawing on your home loan, for its availability adjustments.
• ASIC Moneysmart: Mortgage offset accounts, for the distinction between offset and redraw.

Sources checked 10 September 2026. Last updated: 10 September 2026. Provider examples describe pages checked on that date; they are not product recommendations. No calculator formula or government threshold changed.

General information and illustrative estimates only, not financial, credit or tax advice, a lender assessment or a guarantee of access. Check with the lender before relying on redraw. Seek advice from a registered tax agent about tax consequences of borrowing or moving funds.