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Yes, paying money into redraw is paying off your loan. Some lenders will allow funds to be drawn out of redraw directly. If they don't, you need to move the funds into another account and draw it from that account. This can possibly cause deductability problems and where a LOC might be a more...

A line of credit is simply another type of loan with certain features. Please don't be tricked into thinking it's just a big lump sum of money. The main features are that it's fully transactional (like a transaction account) and it is usually interest only for the full term of the loan. The...