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My investor fixed rates home loan - can’t ‘withdraw’ from the available balance

Posted by sophuuu sophuuu
Message 1 of 2 422 Views

I have a fixed rate loan that I have been moving extra funds in to ontop of the minimum monthly repayment amount. I just noticed, both in the app and on the website for online banking, that I would not be able to access the available funds should I want/need the money. Just wondering what the reason is for that? It’s different for a variable loan where you would be able to move money back out of the loan account. 

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Re: My investor fixed rates home loan - can’t ‘withdraw’ from the available balance

Posted by MegB MegB
Message 2 of 2 415 Views

Hi @sophuuu to withdraw from the available balance of your fixed loan, you'll need to complete the Home Loan Access Request.

Our fixed loans don't have the online transfer function as a deterrent because if funds above the minimum monthly repayment are credited to the account, the Fixed Loan Additional Repayment Fee may apply. This fee is outlined in your fixed loan contract. 

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