100% Offset Account

Offset accounts are a great tool to have attached to your home loan – an offset account is a separate savings account which is linked to your home loan; the balance of the offset account offsets the balance of the home loan, which reduces the interest charged on your home loan, calculated daily.

For Example, if you owed $300,000 on your home loan and you have $20,000 sitting in your offset account, the interest would be calculated on $280,000, not $300,000.

Offset accounts are usually offered to borrowers when they apply for a Professional Package Home Loan, but the same result can be achieved using the redraw facility attached to a basic Home Loan, which in turn would save you paying the monthly or annual fee which is usually attached to a Professional Package.

To discuss your options please contact us on 02 9981 5343 or submit an Online Enquiry