Watch out if you have redraw available on a home loan and request a repayment holiday. At least one bank, Commbank, has said they will ‘take’ the repayments from the available redraw amount and even suggest borrowers redraw any amount available via redraw before they request the repayment holiday – and put this in another account. So this could be a repayment holiday without the holiday! Any available redraw you have will be drawn on first during the 6 month support period. If you need to access your redraw during the support period, transfer your available redraw to another account now From Support for Home Loan Customers - CommBank (on 29Mar2020) Also consider the tax consequences if you redraw money now.