Compare all owner-occupier rates
September 2026
How can I compare home loans with redraw?
Redraw can provide access to eligible extra repayments, but limits, fees and availability vary by product. The current table is a comparison starting point; verify the redraw conditions with the lender before choosing on that feature.
Compare redraw loans by access rules as well as cost. Redraw may let you withdraw eligible extra repayments already paid into the loan. Check withdrawal limits, fees and processing time with the lender. A redraw feature does not guarantee immediate access to every extra dollar paid.
Reviewed by the Ratesniffers Editorial Team. No unsupported scenario-specific rate is promoted in this answer.
What to check before relying on redraw
- Available amount: ask which extra repayments can be withdrawn and whether a minimum withdrawal applies.
- Access: confirm how to request funds, how long it takes and any restrictions in the loan terms.
- Cost: check redraw charges alongside the loan interest rate and ongoing fees.
Guidance checked 7 September 2026 against Moneysmart: offset and redraw differences; Moneysmart: redraw access and fees.
Redraw rates, ranked by comparison rate
| Lender | Type | Rate p.a. | Comparison | Max LVR | Rate date |
|---|---|---|---|---|---|
| Newcastle Permanent Building Society | Variable | 5.94% | 5.98% | 80% | 24 Sept 2026 |
| Hume Bank | Variable | 5.99% | 6.00% | — | 24 Sept 2026 |
| BCU Bank | Variable | 6.04% | 6.07% | — | 24 Sept 2026 |
| Macquarie Bank Limited | Variable | 6.09% | 6.11% | 80% | 24 Sept 2026 |
| Bank Australia | Variable | 6.13% | 6.13% | 80% | 24 Sept 2026 |
| Beyond Bank Australia | Variable | 6.14% | 6.17% | — | 24 Sept 2026 |
| P&N Bank | Variable | 6.19% | 6.20% | — | 24 Sept 2026 |
| Auswide Bank Ltd | Variable | 6.19% | 6.22% | — | 24 Sept 2026 |
| MyState Bank | Variable | 6.19% | 6.25% | 80% | 24 Sept 2026 |
| AFG Home Loans Alpha | Variable | 6.14% | 6.31% | 80% | 24 Sept 2026 |
Sorted by comparison rate. Each broad comparison row shows its own effective date; these rows do not drive the promoted answer or metadata.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Frequently asked questions
How can I compare home loans with redraw?
Compare redraw loans by access rules as well as cost. Redraw may let you withdraw eligible extra repayments already paid into the loan. Check withdrawal limits, fees and processing time with the lender. A redraw feature does not guarantee immediate access to every extra dollar paid.
Is redraw the same as an offset account?
No. Redraw accesses eligible payments already made into the loan. An offset is a separate linked account whose balance reduces the amount charged interest. Compare each product's fees and access conditions.
Does making extra repayments guarantee redraw access?
No. Permission to pay extra and permission to withdraw that money are separate conditions. Check the redraw terms before treating extra repayments as accessible savings.
How can I compare the total cost of redraw loans?
Compare the interest rate, comparison rate, ongoing fees and redraw charges for the same loan amount and term. A comparison rate includes interest and most fees, but is not a personalised quote.