Skip to main content
home
news and research
contact
our facebook page linkdin
How does an offset work?

This is a savings account linked to your home loan.  Any money paid into the savings account is deducted from the balance of your home loan before interest is calculated.  The more money you save, the lower your regular home loan repayments.  You can access your savings in the usual way, by EFTPOS and ATMs.  This is a great way to reduce your loan interest, as well as eliminate the tax bill on your savings.  Lenders provide partial as well as 100% offset accounts. Be aware the account may have higher monthly fees or require a minimum balance.