Things to know about personal loan redraw
- Your personal loan must be a variable rate loan to have access to a redraw facility.
- You must be ahead on your loan payment schedule by at least one repayment.
- You can transfer the money into your NAB transaction account.
- If you currently don’t have redraw authority on your loan account or need to reinstate the redraw function, you'll need to provide us with a redraw authority (PDF, 661KB), opens in new window For joint loans, make sure it’s signed by both account holders.
Steps to redraw from your personal loan
Redraw from your personal loan using the NAB app or NAB Internet Banking.
NAB app
Instructions for mobile devices
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Log into the NAB app on your device.
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Tap on the personal loan you want to redraw from.
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Under the available redraw amount, tap redraw.
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Select the account you’d like to transfer the funds into.
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Enter the redraw amount and optional reference.
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Review your details and tap Pay now.
NAB Internet Banking
Instructions for web browsers
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Log into NAB Internet Banking with your 8 to 10 digit NAB ID and password.
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Select Transfer and Pay and then Loan redraw.
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Select the loan account you want to transfer from (the available redraw will show next to the account number).
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Select the To account and fill out the Redraw details.
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Confirm your details and select Submit.
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Terms and Conditions
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Consider the NAB Internet Banking terms and conditions which apply when using NAB Internet Banking and the NAB app, before making any decisions regarding these services. The NAB app is compatible with Android™ and iOS, minimum platform requirements apply. Android is a trademark of Google LLC. iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license. Services issued by NAB.