Managing your home loan | Tic:Toc

Redrawing on your Tic:Toc home loan is a no brainer. Just select your home loan as the ‘From account’ when performing a funds transfer. Then, if you have an offset account, transfer the cash there and use your Tic:Toc Visa Debit card to immediately access the funds. Or you can transfer the cash to another account and withdraw it in up to two business days.

What is a redraw facility?

Redrawing simply means accessing any extra payments you’ve made on your home loan. With Tic:Toc, you can do this whenever you want for free, using online banking.

Home loan redraw pros and cons

A redraw facility can be handy to have if you ever need cash at short notice to cover unexpected bills. Making extra payments also reduces the interest you pay on your home loan, earning you more than you would in a savings account and without the tax.

On the flipside, some lenders limit the number of extra payments you can make on your home loan in a certain period or how much you can redraw at any one time. A redraw facility is also not usually offered with fixed interest or interest only loans.

Things to know about Tic:Toc redraw

Redrawing on your loan won’t increase your repayments or extend the term of your home loan, as you’re simply withdrawing the extra payments you’ve made into your home loan.
You need to be one month ahead (you can redraw any additional funds paid beyond the current month).
The minimum redraw amount is $1 per transaction.

When accessing a redraw where there is more than one person on a loan, you (and your plus one) both need to authorise the transaction. If this is inconvenient for you and you would both rather transact independently. Please give us a call on 08 7109 9010.
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Of course you can.

Changing loan type

Switching from a variable loan is easy - that's the beauty of a variable rate. To switch from a Tic:Toc variable rate to a Tic:Toc fixed rate, you'll need to cover a variation fee of $150.

Switching from a fixed rate during the fixed term is a little trickier. There will be break costs associated that are specific to your loan, and they can be expensive. If you want to find out how much, let's talk.

To switch loan type, give us a call on 08 7109 9010 or email myloan@tictochomeloans.com and we’ll help.

Adding or removing an offset account

If you decide after you get your home loan that you'd like an offset account, you can add one to your existing home loan for a fee of $150. If you are on a fixed rate an additional break cost will also apply. Removing an offset account from your existing home loan will incur the same fees.

To add or remove an offset account, give us a call on 08 7109 9010 or email myloan@tictochomeloans.com and we’ll help.

Click here to learn more about offset accounts, and how they differ from redraw facilities.

Buying a new home

Want to buy a new home with Tic:Toc? Good move. You can use our online application or since you're already a customer, give us a call on 08 7109 9010 and we can talk you through it.

Topping up your home loan to release cash

Give us a call on 08 7109 9010 or email myloan@tictochomeloans.com and we can see if you can increase your home loan amount, to release cash.

For more information about how this works, read up on how to refinance your way to the perfect renovation.

Leaving us?

All good things must come to an end, but we'd love to know why you're leaving. Please call us on 1300 842 405 so we can see if there's anything we can do to help, or to simply assist you with the process to end your loan. Or, you can access our form here and return it to Adelaide Bank at the email supplied.
Login to your online banking, here: https://www.adelaidebank.com.au/Mortgage-managers/Tictoc/Home/Home

Setting up online banking

If you haven’t registered already, call 08 7109 9010 so we can help you set it up. Make sure you have your Customer Number and account details ready (because we hate wasting time). You’ll find this on an email from Tic:Toc or in your settlement pack.
Login above, using your Customer Number and the temporary password we’ve given you.
You’ll be prompted to change your password. So, change it (duh). The usual annoying password rules apply, like needing a number, letter and eight-letter minimum.
If you’ve forgotten your password or Customer Number, give us a call on 08 7109 9010.
Using your Tic:Toc Visa Debit card

If you’ve chosen to have an offset account, you’ll be sent a Tic:Toc Visa Debit card, so you can use it to spend your savings. Carefully, of course.

A few things to know:

You can use your Tic:Toc card anywhere, including the 29,000 ATMS across Australia, and over 2,000 Bendigo Bank and Suncorp ATMs (with no transaction fee charge)
You can use it to buy stuff, as you would with any other Visa Debit or EFTPOS card
It’s a fast and very secure way to perform transactions
The following features aren't available (yet): Apple or Google Pay, OSKO or PayID - we're working on it

Making repayments

Making repayments is the un-fun part of having a home loan. But at least we can make it uncomplicated.

You can make repayments on the Bendigo Bank loan portal by;

Direct debit (‘AnyPay’)

The most painless way to pay off your home loan. It’s simply a direct debit you can set up through your online banking, which allows you to transfer money from one of your accounts to any other account with an Australian BSB and Account Number.

This means you can set up reoccurring payments to your home loan, so you don’t have to think twice about it.

BPAY

You can use BPAY to schedule your home loan repayments too. Using the online banking portal, we’ve made the management of your BPAY payments easier with the following features:

View all your BPAY payments previously created and those scheduled for a later date within the ‘Pending BPAY Payments’ screen
View all your BPAY payment records created for easier identification and bill management within the ‘BPAY Billers’ screen
Bill payment details can be added at any time without a payment being made

How do I redraw on my loan?

Redraw means you can access any additional payments you’ve made to your home loan. With Tic:Toc, you can do this whenever you want for free, using online banking.

How? Just select your home loan as the ‘From account’ when performing a funds transfer. You can transfer to another account, like a savings account, and it should be available to withdraw within 2 business days.

If you have an offset account, transfer the cash there, and you can use your Tic:Toc Visa Debit card to immediately withdraw the funds.

Things to know about redraw:

The minimum redraw amount is $1 per transaction
Redrawing on your loan won’t increase your repayments or extend the term of your home loan, as you’re simply withdrawing the extra payments you’ve made into your home loan
When performing a redraw, you (and your plus one) need to authorise the transaction. If this is annoying, and you want to allow individuals to transact independently, please give us a call on 08 7109 9010.

Find your nearest ATM
Your monthly repayments will be mentioned in your contract. If there are any rate changes that affect you, your new monthly repayments will be sent to you in the mail. You can also check your monthly repayment amount online, it can be found under the “Loan Account Information” link on your Online Banking.
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There are a couple of ways you can make your loan repayments. If you have an offset account, repayments will be deducted from it. If you don’t have an offset account, you can fill in the Loan Repayment Authority form that comes in your settlement pack and set up a direct debit for your repayments.
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Yes, if you are on a variable rate you can make unlimited extra repayments. If you are on a fixed rate you can make repayments up $20,000 p.a. You can make extra repayments online by transferring the funds to your home loan account – just like any other bank transfer!
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Our loan statements are sent out monthly. You can choose to receive them either electronically through email or go old school and get them through the mail. And if you want to switch it up, you can update your preference online in the preferences tab of your Online Banking.
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Be assured there are options available to help, but what exactly is financial hardship? It’s when you’re finding it hard to make your loan repayments.

When financial hardship comes up it’s often associated with an unexpected change in your circumstances. These changes could include job loss or reduced hours, a relationship change, a family death or major illness, or a natural disaster. These are major life events and can affect your finances.

If you have trouble keeping up with your loan repayments, you can call our funder, Bendigo and Adelaide Bank, on 1800 652 146 and talk to a member of their Mortgage Help team. The sooner you contact them, the sooner they can try to help you.

The team member you speak with will consider your personal circumstances and suggest the most suitable option for your situation. The kinds of things that they’ll consider are your income and expenses, your assets and debts, and what’s likely to happen in the future. They may offer any of the following options depending on your situation:

Pausing or reducing your payments for a set time period
Extending your loan period so that you can lower your repayments and pay off your loan over a longer period.

The sooner you contact the bank’s Mortgage Help team, the more options they are likely to have to help you.

These useful resources are also available:

Money Smart – a federal government initiative with free tools, tips and guidance to help Australians take control of their money. It also includes information on government support and other support organisations. Visit moneysmart.gov.au.
National Debt Helpline – you can call them on 1800 007 007 to speak to a financial counsellor and their website (ndh.org.au) has easy to use, step-by-step guides on how to tackle debts.
You can get more info about your online banking here. There's a handy online banking demo and all the information you need to get started. Plus loads more info!
If you still need assistance, give Adelaide Bank a call on 1300 135 481.
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If you’ve moved into your investment property and become an owner occupier, you’ll need an owner occupier home loan. If you’re already an existing customer you’ll need to contact our post settlement team either by email (myloan@tictochomeloans.com) or call 1300 842 405 (select option 3)

And if you’re a new customer, you’ll need to refinance your home loan but you’ll be applying for an owner occupied (live-in) home loan instead of an investment. You also don’t need to record your rental income for that property in the application.
Approximately 30 days before your fixed term ends, the bank (Adelaide and Bendigo Bank) will reach out with a couple of options:

You can roll-to a variable rate (you can find your roll-to rate in your loan contract). Given the variable nature of the rate, your roll-to rate is subject to change. You can read about how interest rates are set here.
You’ll have the option to refix your loan – the bank will communicate what rates and terms are available to you at the time.
You can do any of the following by yourself, anytime by logging into your online banking:

Change your online banking password
Change your daily limits for online banking
Set up automatic payments
Request redraws
Make one-off payments
Change your email address
Change statement preference (i.e. switch from paper statements to online)
Transfer funds from your offset account to your home loan redraw account
You’ll need to give us a buzz to change the following:

Change your main phone number
Change your residential address
Reset your online banking password
It is possible to change your repayments, up or down. However, there are a few important things to be aware of.

Voluntary additional repayments

With Tic:Toc, you can make unlimited additional repayments if you have a variable rate home loan, or up to $20,000 per year if you have a fixed rate home loan.

The additional repayments made will be available to you via our free redraw facility.

Making a permanent change to your repayment amount

This is also known as a loan variation.

You'll need to arrange a loan variation with our in-life team, which will incur a fee. Why? Because as responsible lenders, we'll need to assess whether a loan variation is the right thing to do by you.

Increasing your set home loan repayments can reduce the overall interest paid over the life of your loan, and shorten your loan term.

Reducing your home loan repayments has the opposite effect - your loan repayments will be lower, but it also means your loan term is lengthened and you pay more interest over the life of your loan.

Unforeseeable changes in your life might impact your ability to make your repayments. Many lenders offer support for people experiencing financial hardship, including Tic:Toc. Decreasing your repayments may be a suitable option, however, we recommend speaking to our in-life team about your options.

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Offset vs. redraw
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