If I have funds in redraw what will the bank base the minimum repayment amount on?

We get this question a lot! Kirsty explains how the bank works out what your minimum repayments are going to be, and what they’re based on. Spoiler: if you pay extra into your redraw, your minimum repayments may not change (different banks behave differently) because they are based on the loan as a whole (unless your bank does it the other way!), but you won’t pay extra interest […]

Read More | 13 Dec, 2022