Your loan account has features that may assist you with your current and future needs.

Please take a moment to consider these options to help you to understand whether these may assist you with your financial situation.

Many home loan customers may be paying more than they are contractually required to pay on their home loan.  You may have set up your repayments in this way on purpose or it may have happened as a result of recent reductions in your home loan interest rate.

While the additional repayments made to your home loan account means you may pay off your loan faster, you may also choose to reduce your loan repayment amount to the minimum contractual repayment amount, including any monthly account keeping fees.

This may help to minimise your overall monthly outgoings and assist you to cover your other daily essential expenses like groceries or utility bills.

Things to consider

Due to making extra repayments on their home loan, some customers may have access to extra funds that they have paid to their home loan account. You can redraw these funds if you have them available.

What are the pros?

  • There is no change to the credit limit on your loan
  • Your repayment amount is not affected or changed
  • You’re using your own money
  • No impact to credit history

What are the cons?

  • Any financial buffer you had built up will decrease
  • Your loan balance will increase by the amounts you redraw
  • If you should require access to excess funds in the future, there will be less money to access

Things to consider

  • The minimum redraw amount on all Pepper Money Home Loans is $1,000 for a manual redraw application (one that you make via phone or email to our Customer Service team) – this can be paid to your nominated account or to a third party, and $50 for an online redraw when you want to send the money to a nominated bank account.
  • To find out whether you have redraw funds available and to access online redraw facilities, please log onto Loan Service Net (LSN). Learn more here.
  • To request a manual redraw, please complete the attached form and email it to
  • For all other enquiries, please call Pepper’s Customer Service team on 1300 650 931 Monday to Friday from 8:00am to 6:00pm AEDST.

An offset sub-account is a feature that is linked to your loan account. Any money in this linked offset sub-account can be used to offset the balance of the home loan, which reduces the amount of interest charged that month.

The money in the offset sub-account can be accessed via the Visa Debit Card linked to the home loan account to make payments or withdraw cash. Find out more here.

What are the pros? 

  • No fees
  • No impact to credit score/credit repayment history

What are the cons?

  • As the money in your offset sub-account offsets the balance on your loan, if the balance in the offset sub-account is reduced, the interest reduction is less

Things to consider

  • If you have a Visa Debit card attached to your offset sub-account, this is another way that you can access your sub-account balance
  • The daily card transaction limit is $5,000 and the daily ATM withdrawal limit per card is $1020 (the extra $20 is to cover fees charged by VISA). The limit on contactless debit card transactions has been temporarily increased to $200.
  • It’s easy to change or re-set your PIN with Pepper’s online customer portal – just log in to Loan Service Net (LSN) and go to Account Options > Account Details to select or change your card PIN

Your home’s equity is the market value of your property minus what you owe on your existing home loan. There are many different uses for home equity. Perhaps you’re looking to consolidate several debts into one monthly mortgage repayment to help you get on top of your finances. Or you simply must sort out some pressing financial needs. Whatever the case, you can use your equity to free up cash for a variety of approved purposes.

A few ways you can access your equity
You can access all or part of your equity. And you have a few options up your sleeve to do so. You can either refinance your existing mortgage or if you prefer, borrow on your equity.

  • Additional Advance
    You may be eligible to borrow additional funds on top of your current loan amount.
  • Mortgage Refinancing
    You may also be able to refinance your existing mortgage to have access to the current market rates or other loan products that you may be eligible for, in addition to being able to borrow more on top of your original loan amount.

Things to consider

  • Any application for credit is subject to our credit criteria and eligibility requirements. Terms and conditions, fees and charges apply
  • You should consider your ability to meet your repayments currently and in the future
  • Learn more here

Reduction to your loan repayment or a repayment break

When you encounter a period of financial stress, you can contact us here to apply for either a reduction to your loan repayment amount for a set period of time or a repayment break which involves putting a pause on making your monthly contractual repayments for a period of time, as agreed with us.

With either of these options, interest will continue to accrue on your loan account but will be deferred and added onto your loan balance. This will mean that your repayments will increase for the remainder of your loan term. Keeping this in mind, the more you can pay the better assuming you are able to.

Read more about the repayment holiday terms in our Fact Sheet.

You can apply for assistance here.

What are the pros?

  • Either reduced repayments or no scheduled repayments are required for the agreed time period
  • This won’t impact your credit repayment history

What are the cons?

  • Your scheduled repayments will likely increase once the repayment break has ended to ensure that your loan is repaid within the remaining loan term
  • Interest will accrue over the repayment break period which means you are likely to pay more in interest over the life of the loan

Additional Support

Check out our FAQs
Still have questions?

View our list of FAQs to help answer any financial assistance questions you may have.

Government Assistance
Government Assistance

It is important to be aware of the Government assistance available to you.

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