Redraw Application
A loan redraw provides access to any repayments to a principal and interest loan that have been made in addition to those required as part of the normal scheduled minimum repayments. Online Redraw allows you to access these funds via Bendigo e‑banking.
The amount available for redraw or “Available Balance” is the advance position (i.e. total of all repayments made over and above the minimum repayments required as part of the normal scheduled repayments), less one scheduled minimum repayment amount and any redraw fee that may be applicable. Further information regarding loan redraw and the Online Redraw facility can be obtained within the Bendigo e-banking Account Details Help pages.
Bendigo and Adelaide Bank Limited may refuse an application for the Online Redraw facility, or withdraw the facility, at their discretion.
Online Redraw Application
Before using Online Redraw the service must be activated. To activate Online Redraw please complete the steps below:
1. Visit your Branch
To activate Online Redraw all parties named on your loan account, including Guarantors and Third Party Mortgagors, must attend a Bendigo Bank branch at the same time to complete the ‘Application for Online Redraw via Bendigo e‑banking Form’ (Application Form). This is a one‑time process* – once you are registered you will not need to visit the branch again for the purposes of completing a loan redraw.
When visiting the branch please be sure to bring identification, such as a drivers licence, with you.
* One-time activation will apply unless the service is deactivated and you wish to reactivate. For further information refer to Deactivating Online Redraw.
2. Register for Bendigo e‑banking
Where an account requires multiple signatories to authorise withdrawals these signatories must authorise the Online Redraw transaction and therefore must also be registered users of Bendigo e‑banking.
Signatories not currently registered for Bendigo e‑banking, can register via the following methods:
Registration in Branch
Register for Bendigo e‑banking at any Bendigo Bank branch. This can be completed when visiting the branch to sign the Application Form.
Registration via Phone
Register for Bendigo e‑banking by calling 1300 BENDIGO (1300 236 344) during our hours of operation:
8am - 8pm weekdays
9am - 4pm Saturday
10am - 4pm Sunday
3. Online Redraw transactions
Once you have activated Online Redraw, your loan account will appear in the ‘From: Account’ drop-down list within the Transfers menu. You can then simply transfer funds from the loan to any of the eligible accounts you have registered for Bendigo e‑banking. For further information please select the Help link in Bendigo e‑banking.
Deactivating Online Redraw
Any one party named on your loan account, including Guarantors and Third Party Mortgagors, can request that the Online Redraw service be removed at any time.
Requests to remove the Online Redraw service can be made by any of the following methods:
Call 1300 BENDIGO (1300 236 344)
Visit your local branch
Send a Secure Email
Send a signed written request to your local branch or to the following address:
Bendigo and Adelaide Bank Limited,
PO Box 480,
Bendigo Vic 3552.
Once Online Redraw has been deactivated, the service can be reactivated by following the steps outlined in Online Redraw Application. All parties must attend the branch to complete a new Application Form.
Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL No 237 879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website.