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Guides and answers from the Unloan Team

Search results for:redraw
Understanding how the redraw facility feature at Unloan works
Learn more about how the redraw feature lets you access extra repayments to your home loan over and above the minimum monthly repayments… If you have funds in your redraw account, your AutoPay payments will add to your redraw balance… You can choose to redraw these funds or continue to let your redraw balance grow
Understanding monthly repayments and AutoPay
AutoPay payments remain in your Unloan redraw balance until the scheduled monthly repayment date… These payments contribute to the growth of their redraw balance until the scheduled monthly repayment… Balance = outstanding balance minus redraw balance)
How can I pay off my Unloan home loan faster?
flexibility to access the additional repayments you’ve made to your Unloan home loan at any time with our redraw… When you maintain an available redraw balance, it can also help reduce the interest charges on your home… Learn more about our redraw feature works
Everything you need to know about your Unloan payments
Most months have a few extra days than this so the additional payments you make will stay in redraw which… You can make add payments into your redraw account in the following three simple ways: Make manual… If you intend to make a payment from your redraw account and have a joint account, the co-borrower must
Your Unloan Account
What is the limit I can redraw?
What is the maximum amount I have can transfer per day across all accounts?
A redraw facility gives you the ability to access additional repayments that you’ve made on your home… You can make regular contributions or a one-off lump sum contribution to your redraw facility
Reduce your loan amount
A Repayment Reduction is where you can use money in your Available Redraw to reduce your Maximum Loan… A Repayment Reduction permanently reduces the amount of Available Redraw… You must:​ Have an Available Redraw balance of ≥$10000​ Not be in arrears or be in a hardship
Understanding interest rate changes and how it affects your repayments
AutoPay debit date before the monthly repayment due date, these payments are held securely in her redraw… These adjustments will be held in Jean’s redraw until the next minimum repayment date (depicted as green
How to avoid a shortfall at settlement
than the required settlement shortfall amount, the excess funds will be available in your Unloan redraw… If you have funds in your redraw facility, decide whether to retain them or apply them towards your loan… To maintain the approved loan balance with Unloan, please avoid withdrawing from your redraw facility
I've got an Unloan... What's next?
These extra payments will be credited to your redraw facility, and may help reduce some of your interest… Any extra payments you make (above your minimum repayments) will be accessible through your redraw facility… and will help reduce your interest charges while they remain in the redraw facility