We are aware of a scam where criminals are calling customers and pretending to be from the Auswide Bank Fraud team. These callers may claim there is suspicious activity on your account, ask for one-time passcodes (OTPs), passwords, or card details and pressure you to act urgently or move money. If you ever have any concerns about an incoming call or message you have received from someone claiming to be from Auswide Bank, hang up and contact us directly.
If you've been making additional repayments on your home loan above your minimum required repayment amount, Auswide Bank may allow you to redraw your advance payments~, and unlike many lenders, even on fixed rate home loans.
This simply means you have access to your 'advance balance' if you need it for unexpected bills or purchases, for home improvements, or to take advantage of an investment opportunity^.
~ The redraw facility is at Auswide Bank discretion and is subject to the terms and conditions of your loan and Auswide Bank credit criteria. Redraw is not available on all home loans. Advance payments made during any construction or progressive drawn down period will not be available to be redrawn at any time.
^ The most you can redraw ('redraw available') is the amount paid in advance on your loan ('advance status') minus one month's minimum loan repayment ('monthly repayment')
